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I'd like to follow up on Steve's thread "One Trick Pony" by asking a question of my own. I've spent a lot of time developing my plan (thanks Russ) and I'm about 90% of the way there with it.
My plan essentially consists of staying at my development firm with a goal of being a partner in 5 years, or at that time leveraging my knowledge and contacts into a partnership elsewhere. In addition, I'm going to put a group together to buy apartment buildings, with the goal of owning 100 units in 5 years. (I will reduce the group size as we move from building to building if possible, hopefully being the sole owner of the 100 units).
So I'll be 34 years old, a partner in a small development firm and I'll own 100 units of apartments.
:icon_super:
After lots of research, I think that this is a good plan and working on development of apartments and condos and buying apartments use many of the same skills, knowledge, contacts, etc. But I'm also very aware that in today's marketplace a person must develop an expertise. I think my expertise will be apartments, and I'll know how to develop or acquire them.
Am I on the right path with this or am I not really developing an expertise? Am I not being focused enough? I'd love to hear some of your thoughts on this.
:thankyousign::thankyousign::thankyousign:
My plan essentially consists of staying at my development firm with a goal of being a partner in 5 years, or at that time leveraging my knowledge and contacts into a partnership elsewhere. In addition, I'm going to put a group together to buy apartment buildings, with the goal of owning 100 units in 5 years. (I will reduce the group size as we move from building to building if possible, hopefully being the sole owner of the 100 units).
So I'll be 34 years old, a partner in a small development firm and I'll own 100 units of apartments.
:icon_super:
After lots of research, I think that this is a good plan and working on development of apartments and condos and buying apartments use many of the same skills, knowledge, contacts, etc. But I'm also very aware that in today's marketplace a person must develop an expertise. I think my expertise will be apartments, and I'll know how to develop or acquire them.
Am I on the right path with this or am I not really developing an expertise? Am I not being focused enough? I'd love to hear some of your thoughts on this.
:thankyousign::thankyousign::thankyousign:
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