Help figuring out where to start

[Laniece Miller]

Hi all,

Honestly, at the moment I'm feeling a bit overwhelmed with all the information I'm finding and aren't quite sure even how to untangle it all, a case of not knowing enough to ask questions.  Any ideas of where to focus my studies first?

I have a good job that I really enjoy so if I get into real estate it will be a small side gig, and never more than a hobby.  My interests are more toward the buy and hold idea, using a property manager to handle the day to day issues, while I'm at work.  My goal would be to see what I could make in real estate with a few dollars and maybe use it to replace my job when I retire (hopefully 25 years).

At the moment I'm renting so my thought is to buy an inexpensive condo (~50K) to live in for a couple of years while I add to my savings, and then see where I go from there.  I really wouldn't be comfortable buying some place more than about $200K or so at the high end, and only then if it was a multifamily other wise I would feel like I was drowning in debt.  

Thanks much,

--Laniece