I’ve been documenting my real estate journey for over 2 years now. As I look back at my previous posts and look at my accomplishments and my failures, I’m so proud of myself and I know I couldn’t have done this without the support of my family and close friends who cheered me on and stepped in when I needed them. I’m so grateful for each and every one of them.
With that being said, being in real estate is hard. At least, being a landlord is hard. Things constantly need repair after a while and there is always upkeep that needs to be done.
Last year was full of repairs for me. From, installing new AC units, water leaks under the kitchen sink, replacing washing machine parts, water heater parts, and pipes bursting in the guest bathroom. It was always something and most of these things happened in December. It seemed like I was always fixing something.
Now, I know this goes with the territory. I purposely have not splurged with the cash flow that comes from this property for this reason and I’m okay with it, but it’s definitely making me re-evaluate my real estate strategy. I’m asking myself the questions.
- Do I want to purchase more rental properties and deal with broken things all the time because this is not true passive income?
- Should I focus more on tax liens and start bidding in other states again?
- What other things can I do to increase the cash flow of my business?
- Is there a real estate strategy that is true passive income?
I’m still finding the answers to these questions so this year, I will be reading/listening to more books about real estate and determining what my next focus will be.