Cape Coral, FL · Member since 2017 · 2 posts · 0 votes
Hello, my name is Patrick and I'm looking to learn how to invest in property. I'm not really sure where the first step is and in what direction I should look. I have a full time job and a growing family that I want to support. Any information will help thanks in advance!
Awesome on wanting to learn more on RE investing. There are many different paths to take in this field so my question to you is what is your end goal? If you already have that answer then its a matter of finding out what works best for your situation and what complements your skills. Fix and Flips are a full time job where rentals produce more passive income. I need a little more information from you to help direct you in the right way. If you are unsure of which way to go look at some of the podcast BP has as well as go to a few local REIA meetings and sit and ask questions. Now most people in those meetings do few if any deals but you'll be able to tell who the real players are. If you want reach out to me and I can help you figure out a game plan that can at least get you started.
@Patrick Abram as @Kevin Mika said there are many paths and some are full time jobs where others are much more passive. Based on having a family and working a full time job I am assuming you are looking for a more passive strategy such as rental property. I would take inventory of what you have. Cash, time, hustle, credit, relationships etc and then find a way to leverage that.
If I can make some assumptions, you are probably like most of us (especially when starting out) that you are a bit tight on cash and time. If that's true, I would dive into podcasts/audiobooks while driving/doing chores etc while simultaneously focusing on tightening the belt to save cash for a down payment and cleaning up your credit.
Then when opportunity strikes you will be both mentally and financially prepared to jump!