Newbie investor with lots of responsibilites

6 Replies

So I've listened to many podcasts and read many forums and blogs here at BP about getting started in RE investing. All of what I hear is from investors who started out with no kids, some not even married, meaning they just had to worry about supporting themselves.

Is there an experienced investor out there that got started in real estate investing when they already had kids, a spouse, a house and other responsibilities that they accumulated before they jumped to RE investing?

As you probably guessed, this is my situation. I can't stand my job/career that I thought I wanted and now want to change to RE investing in the middle of tons of time and financial responsibilities. Any advise/experience to share to calm my fears and panic would be appreciated.

welcome @Carrie Alluri
you found the best site going on REI
keep in mind this biz is a lifestyle change and a journey
be patient and take baby steps 
read,listen to all the pocasts,ask questions 
go to a local investor club in your area to be around like minded people

i have a daughter,a family and a full time job 
i get up before anyone else in my house and start reading and doing marketing to sellers

good luck 
if i can make money in this biz anyone can

Thanks for the encouragement Mark!

I really do like BP. It is the best RE site I've found and I've looked at a ton of them. I do keep doing something everyday with REI. I hope to get my first SFH to flip soon. I just wish I could quit my job sooner than later.

i have been wishing to quit my job as well @Carrie Alluri
every house i buy and keep as a rental puts me 1 step closer to that goal 
it is a very slow process
something else to keep in mind is flipping houses is also a job and you have to buying,fixing and selling or the money stops 
dont ever give up you will make it 

@Carrie Alluri

Welcome. Everyone starts out with similar responsibilities.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers).

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

While I don't have kids, I have a full time job, husband with a demanding career in the navy (so I do alot with his career), managing 11 houses, and launching a blog! For us it has been all about baby steps and going one foot in front. 

You might enjoy my podcast 103. While it doesn't have your kid element, our story does have the crazy predictable components of life.

I too am looking for an opportunity to work on this full time so we I can stay home and raise our future kids.

Feel free to pm me if you want to talk. I have written up a few different posts about our story, journey. 

Your story won't follow anyone else but it still will be a great story.

@Carrie Alluri welcome! I did not discover REI while having kids & a family, but I was in law school. When I started finally flipping houses I had just finished up the bar and started working a job that requires 60 hour weeks. Sometimes less, but I was constantly traveling. The best advice I could give you, is, no matter what the situation, try to use your time at your full time job to your advantage. Can you listen to podcasts during work? Or, at least make some phone calls to realtors during your lunch break? I am sure having a family is crazy busy at times, but when I was busy, I found that using my commute (30-120 min) and side time or down time at work was the best time to absorb REI education. Best of luck, and welcome!

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