Am I Ready to Start Investing??
Hi BP!!!
I've been on BP for a little over a month now, and in that time I've read countless forums, listened to a bunch of podcasts, and read a few of the recommended books. I feel like a have a decent grasp of RE, but I can't help to question if I'm ready yet.
Here's the situation. I'm 26, have a full time job, credit score close to 700, and about 20k in savings. I have paid all of my credit cards down to about 15% of their limits, put away a 4 month emergency fund and paid my car insurance off for the year. I have a car loan and student loans...that is my only debt (except the 15% of my credit cards).
I want to fix and flip 30 homes over the next 3 years, and use that capital to buy and hold at least 10 properties (in the same 3 years). And repeat that strategy until I have enough cash flow coming in per month to replace my salary (I'm hoping I can do it in 6 years). I would love to find a mentor in the Atlanta area to partner with on my first few deals, so that I can learn more...but I have also heard so many horror stories about mentors who charge a few thousand (which is way less than the guru's but still a lot of money) and then they magically disappear.
Does anyone have advice on finding a good mentor in Atlanta to partner with? Or any advice as to whether or not I even need a mentor with all that I mentioned above? I can feel the "analysis paralysis" coming on and I'm trying to just get started before investing becomes "something that I thought I wanted to do once". Help! I will take any advice you guys have to offer!
Tye
Most Popular Reply
@Tye Brooks network at your local REIA & meetup meetings. Take some rehabbers to lunch to pick their brain. I'm sure you'll be able to find a mentor, someone who is actually doing deals and not selling you on the idea of doing deals.