Following My Gut from Chicago

[Michael Boyd]

My name is Michael and I've been obsessing over the thought of bringing some passive income into mine and my daughter's lives for some time now. The job I work for now just is not cutting it anymore. I want to expand and grow as a person. Well, that and the thought of being my own boss someday takes the cake. All though at this time I know little to none about the Real Estate Market, I was recommended this site/app by a few sources. I've started to read a lot into this career field and after every book, blog, and article, I've grown to want to test the Real Estate waters even more. Though there is a chance I might get bit from time to time if I'm not careful, I still want to take those risk towards the bigger picture. So, if there is anyone out there that might have any words of encouragement or advice for this newcomer, I'd greatly appreciate it.

[Linda S.]

Hi @Michael Boyd,

What is your passion?   Are you super handy and can do a lot of the work yourself?   Do you enjoy construction?  Depending on your level of expertise and involvement, will tell you if you should do a fixer upper or a turnkey property.    I think if you have a passion to do real estate, you can, but just know, it's not pretty,  not glamorous and majority of the time when you're doing a fixer upper, it's not fun.     I like to think of the giant dead cockroach we found upon buying our 3rd fixer upper.. our welcoming committee.     While it sounds amazing to be your own boss, work for yourself, etc... you gotta realize the path you're taking, and make sure it's a good fit.... now, I say this from a full gut/renovation perspective, where we go in and remodel up from the studs, so just be ready for a ride! 

If you are ready, then by all means, jump in!  If not now, when?   There's never a "perfect time" ... because when it was the perfect time, you probably passed up 10-20 better deals.     If you believe in yourself, and the product/home you create, it's very rewarding!   

 I'd highly recommend a good business partner, they're crucial for sanity and financing! 

Hope this helps!  

~Linda