Buy and hold advice and help.
New here and would like to first say hi to every one.
My wife and I are are the 50 mark and been married only 7 years. Unfortunately neither of us had anything to bring to the marriage in the way of retirement. So we have been discussing buy and hold real estate as a retirement.
We sold our home, I quite my job about a year ago that was heading us for chapter 11 and we went into OTR truck driving living out of the truck. The money is good, but do not see us being able to retire anytime soon. So another option was needed.
Our idea was to start buying B&H properties in a growing area, hire a property manager, and continue driving not touching any rental monies until the income will be able to support us.
Having just signed onto this site, I have not had time yet to look at all the resources available. So sorry if I am asking redundant questions. Will be working on that though. I notice the few posts I have read everyone is big on finding a mentor. Our situation makes that a little difficult if it cannot be done though email or such. Any suggestions?
Of course we need 100% financing with no money in reserve yet. Been looking up hard money lenders.
Been thinking of the north Dallas/Plano/ Mckinney area since we seem to be through there often and the city growth. This is not our local area, we are from Ohio, but since we don't have a permanent address, anyplace is open to us.
I am really not sure where to start though.
Any and all help or guidance will be Greatly appreciated.
Ed & Arlene.