Young Rookie Real Estate Investor

Young Rookie Real Estate Investor

lake view, AL · Member since 2017 · 12 posts · 4 votes

My name is Chase Ezell and I am 28 years old. I am a full time paramedic and side hustler out of Birmingham, AL. I currently own and operate an exterior cleaning business as well as working my full time day job. I am and have been for a long time, extremely drawn towards being a full time entrepreneur. My goals in a nutshell is to create long term wealth for my family, create jobs, and make a difference in people's lives. I am extremely motivated in being successful and real estate investing crossed my mind one day at work. The more I educate myself, the more I find that it is right up my alley. 

The reason for this post is to hopefully gain more knowledge and advice on where I should go from here. I own my home free and clear and wanting to use the equity to start my real estate investment journey. Buying and flipping sounds like a good starting point for me. I am skilled in most all trades and very self sufficient, so a lot of the home improvements will be done myself. Is using a HELOC a good way to purchase my first property? Is buying and flipping the right way to start? 

Please give me any advice that you may have to give! Thanks!

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  • Investor · Manvel, TX · Member since 2016 · 133 posts · 54 votes
    9y

    Welcome to the forum.

    I'm not sure how much cash you can get out of your current home but buying and fixing a home takes money.  More money than I think you might get in a cash out.

    Be careful about over extending yourself.  If you make a mistake, you are potentially going to lose the home you live in.

    I think I would be inclined to buy a new house that is reasonably priced to live in and rent out the house that I own.  Doing this, you could pay as little as 3.5% down and use the rent toward the new home. 

  • Real Estate Investor & Consultant · Los Angeles, CA · Member since 2016 · 620 posts · 386 votes
    9y

    @Chase Ezell if you have specific questions, PM me any time.  Flipping is a great way to start, but you should not do it alone. Get with an experienced flipper for your first deal or so. 

    Best!

    sjw

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