I’m not sure I am an average real estate investor, but anywhoo..
I filmed this a few days age as we were out to get some new a/c units for the final 3 units we are restoring. Ended up buying three really good used units for cheap and saved close to $1700 :) Go Craigslist!!
The real estate work here has been going well! We have five houses. Two of which are duplexes that we have been restoring for the last few weeks. We finished the first unit last week. Another two should be done this week and there is a long list of potential renters all ready.
The fourth unit will be our final project for this spring. We will put a bit more time and money into it, use it for ourselves when we are here and then rent it as a holiday rental when we aren’t.
Being an average real estate investor here in Tampa Bay is tons of fun. And I might not be that average. Giving my different heritage and my experience of the Scandinavian real estate market I have noticed that I think slightly different from most people I meet.
The guy in the video that we bought the AC units from had a few investments. A good guy who did it pretty clever, but also safe. He started out as a real estate agent and figured he would try to add some cash flow to his business by purchasing a few rentals. It works well for him, but here is my issue.
I know a lot of people says you should differentiate to be safer. I believe that is true to some extent, but I also see a problem with it. If you differentiate you have to be good at two things. It takes a lot of time to get good at something. Probably 10 000 hours or more. If you try to get good at two things, that’s 20 000 hours. It would take twice the time to reach a specific point where you know enough about what you are doing to be really good at it.
Know what you want and focus getting good at it!