How to set Up myself & my future as a REI

[Hima A.]

I am new to the world of REI & a late comer. I want to build wealth for me & my child and feel stuck. I depleted my savings when I stupidly renovated a house on which I'm not the sole owner on title. I am currently ending the co-ownership because my dad seriously screwed me over & I have no idea if it'll end with me getting half the fair market value now or waiting until my parents die before I assume it. My parens want to put their share of the house into a trust for my child who is currently 10yo. I haven't agreed to the trust yet because they have acted with little integrity in many previous money matters. Hard lesson learned for me that my family isn't to be trusted ever again and that I need to severe my relationship with them completely because they have harmed me & my child emotionally & financially.

I need to get a job & start saving again. I'll be able to access my roth IRA in 3 yrs when I turn 59.5yo and I expect it'll be over $500k at that time. What can I do now to start my REI journey? I'm reading REI books. I live in a very small 1BR coop apt & can't house hack because there isn't a 2nd BR. Obviously, I need a job and want something in RE so that I'm in the loop & can learn from to apply my skills and experience towards REI. What are some paid jobs I should consider (I have a child & can't work soley on commission). I live in NYC but I'd like to invest outside of NYC where it'll be more affordable. I plan to buy SFH & multi-family houses that I can house hack while I live in them, fix them, then rent them out. I gained some experience in being a general contractor by managing & working on some renovations on that other house. I'm open to suggestions & advice

[Drew Sygit]

@Hima A. First get a job.

Save enough for 3.5% down for FHA mortgage and buy a 2-4 family property.

You can live in one unit and rent out the rest.