What’s the best next step for a young investor?
I’m 22 years old, I’ve been working as an electrician for the past 4 years. I’ve been managing my own 3 family rental property for the last 2 years. I’m sick of working my day job and I’m dead set on working for myself in real estate in the future. The equity in my house is about 10% without accounting for appreciation, I have $25k saved up and ready to invest, and I live at home with my parents. So I can afford to take a lot of risks based on my current position. I’d be willing to quit right now and work 80 hours a week for myself building a future business than to waste my time making peanuts while my bosses gets all the money. The problem is out of all my friends, family and coworkers I don’t know anyone who’s particularly entrepreneurially minded. My circles are small, I’m not on social media, and I’m not particularly sociable as a person so finding helpful connections is difficult.
I suppose my question here is what can I do to make the jump into financial independence? What skills should I be learning? I’m willing to make a career shift as I don’t have much interest in being a contractor, some DIY skills are nice but I don’t see a great future in this industry and I’m not sure what I would excel at. Are there any investments I can be making now with the funds I have? Knowing the right people I feel would be beneficial to me here. But going up to an experienced investor (if I knew one)and asking to be mentored seems ham handed at best. So what can I do to make myself marketable to an entrepreneur so that we can both benefit?
I’ve been looking into another rental but the 20% down is high(property values are high where I am) and it’s a long term investment. I’m interested in flipping houses and I’m willing to jump in head first but I don’t know where to start. All in all I’m feeling lost and very unhappy where I’m at now and I’m wondering if any of you can see something that I’m missing.