Any Guidance Appreciated

[Nicholas D.]

Hi all, new to the forum and my first post.   My goals are pretty simple, live off of passive income targeting a minimum of 100k a year, and employ my boys in the family business when they are older.   My current status 42yrs old, married 15+ years, wife is a homemaker to our 4 boys (13, 11, 8, 5).   We are debt free, assets home+cash+retirement around 550k.   My current role is IT focused,  In previous lives I was a carpenter, carpet installer, flood and fire restoration, long haul truck driver, waiter, garbage man, bus boy, and just about every other job you can think of.   Im a very hands on person, type A, and can be a control freak at times.   

I don't have a tight timeline, I enjoy my job and have a comfortable lifestyle. 

The plan as of now is this, 

1. Continuing my self taught crash course in RE investing ( Books/Podcasts/Anything else appreciated)

2. My wife has started studies for her real estate license (shes excited, and I cant really think of a downside)

3. Buy a home locally, whether to flip/rent/hold (I am still learning the various strategies)

4. Continue the process until I have consistent income to quit my W2 job. 

Are there any other details I could provide that would help with your perspective ? 

If you got this far, I appreciate your time.  

[Greg Scott]

Nicholas:

I'm connected with a group of buy & hold investors in Metro Detroit that meet monthly to talk about investing.  Several members have retired themselves through real estate.  There is no cost or obligation, just a group of people networking, usually with a presentation from one participant on one of their properties.

I occasionally post those meetups to BP, but if you DM me your email address, I can put you on their distribution list.