Road Block!!! (need a work around)

[Tony Hershiser]

I am financially ready to make the jump into realestate investing however, I have a job that requires a lot of my time. When I say a lot of my time we are talking 65 to 70 hours a week. Today for instance I was seto to get off around 6pm to look and a duplex and a single family unit and all was going well until 530 rolled around and 2 vehicles sold and I had to stay to complete the finance paperwork. I had to cancel with my agent and felt like I had wasted everyone's time. This is my job though and I have to provide for family. Although these properties on paper worked well and had a COC return in the high teens and a cashflow after expenses at 250-300. It's a bit hard to look at properties and make offers if I can get there in the first place.

We have 6 kids and realestate to me is the way I have been dreaming of providing for my wife and I into retirement and my children after we are gone. We are not looking to make this a way to retire and live on the income but rather to purchase 1 or 2 homes a year until retirement and live on the income then or sell them off one by one as they are paid off and live on the proceeds from the sale.

I need some advice. Am I kidding myself to think this is the way to go when I work 8pm to 6pm-9pm 5 to six days a week. I know nothing about the stock market and have studied realestate for the past 6 years and have one succesfull house hack under my belt. If you've made it this far thank you for reading this.

How do you leverage others to help when you have no reputation in the industry? Hard question, right?

[Matt Devincenzo]

You need to have a kind of heart to heart with yourself, and your wife...as in what 'do' you want to do right now. There's nothing wrong with focusing on the job side for now while you have all your kids at home etc...also nothing wrong with investing for their future, it just becomes what can you actually accomplish. Personally if you trust your contractor and he knows what you want/like, I'd talk to him about what he'd want as compensation for viewing properties. You'll need his input for rehab expenses anyway, and since this is a rental your personal preferences for features in a home really aren't that critical. Once something works on paper, you can submit an offer and have your DD period to actually make it over and view the property. 

I bought 4 homes in FL where I grew up while living in CA via my Mom walking it with our contractor and telling me how they were. All cash, no contingencies, close ASAP. I don't need to see them I just need someone who has. That would keep your time investment to a minimum for now. My guess is after a couple years if you can do 2-3 homes, you'll then have the financial capacity to invest the time needed.