Relocating...Foregoing a Job for Real Estate Investing

[Randy Hunter]

Hello Everyone!! I am extremely excited to have found this community so I can continue learning about investing in real estate. I am new here so let me introduce myself and also update you on my current situation.

My name is Randy. I have no prior experience investing in property but I do have experience designing it. I have graduate degrees in architecture and business administration and have been working as an intern/project designer in architecture firms for 3 years. I have had one eye on real estate for several years now and finally, it has taken over my mind. 

I currently live in Florida but am very likely moving back to Pittsburgh(was there for 2 years before moving to FL) within the next 6 months. While the thought of not having a guaranteed income kind of scares the crap out of me(and my wife!) I'm seriously considering jumping straight into investing rather than trying to find another job(a job that is just going to take more time away from me investing).

I feel I fully understand the big picture of flipping and wholesaling(which are the 2 niches I'm most excited about) but knowing it from educating myself and actually doing it are two different animals. It's the smaller details that creep into my mind..."Can I really start buying properties with not very much money?", "Should I have an actual official business name before I do anything?", "Where do these contracts that the Seller and I sign come from?" "What other professionals(contractors, attorneys, agents, etc..) if any are essential to be connected with before making that first deal?"

If anyone out there could give me some insight, encouragement, words of warning, tell me NOT to do it this way because xyz...I'd love to hear it. Thank you in advance and I look forward to being here for a long time. Thanks!

[Russell Brazil]

I would make sure you have a very large cash cushion if that is your plan. You have to pay the bills somehow.