New to REI! Excited! But nothing to get started. Advice?
My husband and I live in Chatsworth, CA and recently learned about real estate investing just 2 months ago. We are committed to learning everything to be able to achieve financial freedom ASAP! We both currently work full time, with great incomes. Unfortunately, we don’t believe we are financially ready yet (but I hope we’re wrong). Before reading Rich Dad Poor Dad, and Set for Life, we had NO idea the financial hole we were digging for ourselves just enjoying life’s pleasures. We both have school loans, and car payments that are weighing on us even with our income. And virtually no savings.
In order to start investing, is our only option to wait another year and save? Should I wait until we have 20% for a down payment? And THEN start? Our goal is to invest in rental properties to create passive income to fulfill our “why”, which is for us to be able to travel the world and spend more time with each other and our families.
Would someone be able to give me some first steps I should take given our situation in order to be able to get started on our investment journey? Would really appreciate some suggestions! Thank you!