This one is not about the game but about a tribute to Iron Maiden. I am longfully waiting for their new album.
Iron Maiden - Senjutsu (releasing 3.9)
and this is also a good place to take a deep breath to think through my plans and strategies.
Let us begin with Iron Maiden - Stratego (link leads to youtube) and listen while we wait.
Strategy is a place where every real estate investor need to start. Or DO start, whether they know it or not. There is always a hunch, plan, need or whatever that sets the ball in motion. For many it is a way to make money, for some it is a hobby and for some it is a way of life. And for some it is a way out from the rat race.
For me real estate has always been a hobby and hopefully it will remain a fun way to really do stuff with my family and friends. And what I mean by REALLY DO STUFF is that I can get out of my office and comfort zone and I need to do stuff with both my head and muscles.
Buy and hold has always been the way to go for me. I even did believe that my first house was to be my foreverhome.
But while the hands of time keep moving on also the strategy must live and adapt and evolve. And my first real real estate investment was kind of a flip, even though the journey took about 8 years. And my foreverhouse was not a home for me forever, I still do have it.
Now I am in the middle of my biggest flip and yes I am still learning to adapt. I had huge expectations, maybe I still do. But at the same time I am trying to learn to let go.
Stratego needs planning, math and skill. So does real estate investing. But before you know what is the niche one tries to pursue one has to practise many different skills and strategies.
I did start with buy and hold strategy but now I am not sure if it is the right way to keep on going. It might be a part of the repertoire but not the only way. There are many other ways to make more money to make more money. Or faster ways to keep the wheels turning and volumes growing.
Atleast for now I am combining different strategies:
- Buy and hold
- Buy and hold a flip
- Meaning to flip but holding
- Meaning to hold but flipping
- Airbnb etc short term renting
Not just the best of both worlds but BEST OF ALL WORLDS. I still do think that I should have tried earlier on a real hard core strategy which is not for everybody:
- Buy and hold and househacking a live in flip
Strong strategy: plan accordingly but adjust if necessary.
While we are still waiting and planning our strategy: Holy Smoke! (Youtubelink Iron Maiden - Holy Smoke)