Is it time to start taking action?

Question

Like most of us start out, I have been working a W-2 job for a few years and saving up to eventually kickstarting my real estate investing. Now I am at the point that I feel like I may have enough money to get started but I keep telling myself to save up a bit more before diving in. Am I just using this excuse as a scapegoat? Currently, I have about 15k cash and another 25k invested in the stock market via ETF's. Should I consider cashing out on the funds invested?

Would love to get some feedback and hear what you guys think. Thanks BP!

Maykol Au · Answer

@Brian Adzadi  Thanks for the feedback Brian.

Right along the lines of what you mentioned, I would like to go into buy and holds. However, I don't think I would be able to house hack since I cannot relocate at the moment and I would most likely be looking for properties outside of  a feasible commute.

Brian Adzadi · Answer

@Maykol Au

The key thing here is what niche do you want to go into with REI?

Wholesaling? Fix and Flip? Buy and Hold? BRRR Strategy? RE Notes?

Depending on which one you want to go into, determines if the current amount saved is enough or you need to save more?

For Buy and Holds, the money is enough to start diving into REI, because you do house hacks and 1031 exchanges to get bigger and better properties.

But for Fix and Flips and BRRR, you generally need to have all the cash in hand to buy the property, since you will be competing with expert investors with deep pockets.

Once you decide what your niche is then you can start figuring out yourself if you are ready or not.