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Choosing a niche is important because if you want your investing career to last long-term, then you’ll need to invest in a way that helps you reach your goals while also aligning with your interests and lifestyle. In this video, I’m going to share some tips on how to identify what type of real estate investing aligns with your goals and lifestyle. You’re also going to hear which niche I believe is the best for long-term wealth building.

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Here's my favorite approach for making decisions in real estate, or in general: reverse-engineer your life. So, start from the end and work backwards. Imagine your life in 10, 20, or 30 years. What type of lifestyle do you want to live? What will your work situation be like? Where will you live?

Can you picture yourself rehabbing homes in your spare time, or do you envision yourself having a more passive experience? Could you see yourself handling Airbnb bookings, requests, and cleanings? There are no right or wrong answers. We all have different strengths and interests, so just be honest with yourself in this exercise. The point here is to envision the type of life you want to live, and then decide how to get there.

Personally, I’ve dabbled in quite a few different investment types. I’ve done wholesaling, fix and flips, a short stint with short term rentals, and rehabbing cheap homes for buy and hold investing. And while there are pros and cons to every investing approach, there’s one niche that stands out to me as the best. And that’s buy and hold, new construction rental properties.

Let me tell you what I love about this strategy. Buy and hold real estate works for me, and it has for years now due to its passive nature. It allows me to have the lifestyle I want. I’m not the kind of person who wants to have my hands in everything happening at my properties. I could care less about things like paint colors or cabinet hardware. I want to be able to manage my properties from afar, spend the majority of my time with my family, and have my expenses paid for by my rental income.

But why specifically new construction properties? Here’s why I love newly built rental properties. New construction is simply a better product, and it’s more cost effective for investors.

All of the components are brand new, which is going to mean fewer replacements and expenses overall. Cheaper, older properties tend to require more cash up front for renovation, plus more money dumped into repairs and replacements throughout the life of the property.

At Morris Invest, we use new construction rental properties because they allow our clients to reach their goals faster. Here’s how: we have our investors set a long-term goal, which we call the Freedom Number. You can try it for yourself at https://morrisinvest.com/freedom.

Your Freedom Number will naturally adjust over time. Whether you’ve had another baby, paid off a car, had to finance an unexpected cost… things change in our finances. No matter what life throws your way, investing in new construction rentals can help accelerate your timeline toward your Freedom Number.

https://morrisinvest.com/blog/2023/9/29/build-to-rent-properties-are-a-good-investment-with-a-skyrocketing-demand/
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

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