5 Tried and True Real Estate Strategies (and How to Determine Which Is Right For You)

In this episode, we cover, at a high level, the top 5 investment strategies and who they might best work for.  --- Transcript   Michael: Everybody and welcome to another episode of The Remote Real Estate Investor. I'm Michael and today I'm joined by my co hosts,   Tom: Tom Schneider   Emil: and Emil Shour   Michael: and today we're gonna be talking about some different strategies that you could pursue with your real estate investing. So I think a lot of people are very familiar with a couple different strategies, but today we're gonna be talking about high level what the different strategies are, and what might be a good fit for you if you're just getting started. So let's get into it.   So, in this episode, guys, I want to talk about five major strategies, your categories, if you will. So I talked about wholesaling, fix and flipping bur in long term buy and hold or just rather buy and hold and then we're gonna end with house hacking.   Emil: Guys before we start talking about these topics, I want to give a quick shout out to K winters 34 who left us an awesome review recently, I've been listening to this podcast for the past year since it started I cannot say enough good things the hosts interact in a light hearted manner to make it a very easy Listen, I have learned a ton and it reinforces my belief that this is the way to financial freedom. Thank you so much. Awesome review. Appreciate it. I'm with you. This is my path to financial freedom as well. So leave us a review. We'll give you guys a shout out in a future episode.   Michael: Thanks so much. Kay winters I guess my mom was right. I do have a face made for radio.   Tom: Oooooh!   Emil: There you go. That lightheartedness coming out.   Michael: So Tom, do you want to kick things off and talk to us a little bit about wholesaling.   Tom: Wholesaling, yes. So I think before getting into some of the pros and cons, we're gonna put a definition out of these different strategies. So with wholesaling This is a really interesting industry and basically what this is, is this you are getting a property into contract and then selling the contract and the difference between that sale price and what you sell it for that's what you're making as your commission so you're never actually taking title and owning the property you're doing sort of an arbitrage where you're getting right in between so there are some states where it's there's a little bit more nuanced the technical aspects but but at a very high level you know, you're not buying the property you are selling that property and I'm sure a lot of you who own properties or have seen signs on the on the road that says we buy ugly houses, those are all forms of wholesaling.   And I get in my mailbox every day guaranteed like a couple of letters that was written by a robot that made it look like it was a handwritten saying I'm looking to buy your property in blah blah blah. And these are just wholesalers, it's their game and you may get phone calls to like hey, I'm a local investor interested these are wholesalers and as an owner I find it kind of annoying a little bit it just you know just creates a lot of clutter in my mail and my voicemail,   Emil: Okay Tom.   Tom: In all of this stuff so nothing against wholesaling I guess maybe something against wholesaling. Jamming got my inbox.   Emil: Yeah, dude, you're definitely got something against wholesaling.   Tom: Yeah, you're right.   Michael: You're raining on a meal's parade, man.   Tom: It's funny. I'm. Oh Emil! Well, you know, he's using some of the techniques as a wholesaler but he's not wholesaling, though, right? He's looking to buy it.   Michael: Yes,   Tom: Wholesaling is good honest work and what is I'm going to just keep kind of riffing on wholesaling, wholesaling. Oftentimes, these people are looking for quick sailors. And man, I was at a real estate conference and I heard this acronym talking about wholesaling, and it was kind of dark, but I think it's like k