RJCONF2021: Real Estate Investing in the US

Thanks for the question. Unfortunately, it’s really hard to answer because it will vary greatly depending on the investor and the strategy that they use. If, for example, you are looking for a long-term rental property and you decide you would just like to invest in the same markets as me, I could give you all of my contacts (real estate agent, property manager, lender) and you could probably have a property under contract in a couple of weeks. You could of course use that same strategy in other niches. I have a friend who buys vacation rental properties in Hawaii. If I introduced you to him you could use his contacts to acquire a property there relatively quickly. However, if you are starting from scratch and need to find a specific market and then build a team in that market, it could be months before you even start to look at properties. But, as you said, once you’ve done one, the subsequent investments will be far easier and less time-consuming. Currently, the only time I have to spend on my portfolio is a couple of hours a month, but I spend much more because I enjoy it. My main advice for speeding up the process, if that is a concern, is to find someone who is successfully investing using a strategy that you would like to use in a market you would like to invest in and utilize their knowledge and contacts to acquire your first property. Unless you are someone who just loves research and real estate there is usually very little reason to reinvent the wheel. I hope that helps. I’m always available to talk on Zoom or something if you want to dive a bit deeper.

2 Responses

BeanHead says:

November 24, 2021 at 10:16 am

This was really interesting, and looks very lucrative!
It does, however, look more like a job than a straight investment play. Daniel said that he managed to do this whilst teaching and also studying.
My guess is that the 2nd property or 3rd one is much easier than doing it for the first time.
What would be the total time needed, including research and gathering the team together, for a novice to do this the first time?
1. Daniel Mills says:
  
  December 1, 2021 at 9:05 am
  
  Thanks for the question. Unfortunately, it’s really hard to answer because it will vary greatly depending on the investor and the strategy that they use. If, for example, you are looking for a long-term rental property and you decide you would just like to invest in the same markets as me, I could give you all of my contacts (real estate agent, property manager, lender) and you could probably have a property under contract in a couple of weeks. You could of course use that same strategy in other niches. I have a friend who buys vacation rental properties in Hawaii. If I introduced you to him you could use his contacts to acquire a property there relatively quickly. However, if you are starting from scratch and need to find a specific market and then build a team in that market, it could be months before you even start to look at properties. But, as you said, once you’ve done one, the subsequent investments will be far easier and less time-consuming. Currently, the only time I have to spend on my portfolio is a couple of hours a month, but I spend much more because I enjoy it. My main advice for speeding up the process, if that is a concern, is to find someone who is successfully investing using a strategy that you would like to use in a market you would like to invest in and utilize their knowledge and contacts to acquire your first property. Unless you are someone who just loves research and real estate there is usually very little reason to reinvent the wheel. I hope that helps. I’m always available to talk on Zoom or something if you want to dive a bit deeper.

RJCONF2021: Real Estate Investing in the US

Not just for US citizens

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