What would you do in my position? Feeling like we're ready

[Austin Phelps]

My wife and I (both 27) currently live in Cape Canaveral/Cocoa Beach, FL and make about 250k a year combined with a net worth of about 250k as well. We're looking to begin investing in real estate to increase our income for now and slowly get to the point where this is all we do for a living (tired of corporate jobs). With this base information, what would you all suggest? Initial property price range, strategy, etc. I really appreciate your time and help!

[Billy Daniel]

Hey!  Here's by take on these types of questions:

First, figure out your goals.  Wanting to leave corporate America is great, but it isn't specific enough.  What will that take?  What's the timeframe?  How much risk are you willing to assume?  

Second, find the type of investing that lights you up.  I love long-term rentals.  I also enjoy a flip every now and then.  However, you won't find me messing with short-term rentals or syndications.  Those things don't keep my attention, so I don't bother.  There is a ton of information in these forums.  There are also many books in the bookstore that every investor should read.  Take your time and study up.  

While you're doing that, save save save!  Save up for a nice-sized down payment on something.  When you have your capital saved up, engage with the experts.  Realtors are a great place to start because they can normally point you to the lenders, contractors, inspectors, and property managers you will want to speak with.  

When all this is done, TAKE ACTION!  You can't start real estate investing without making an offer.  The first one will be scary and you will be full of doubts.  Just trust the education you've given yourself and realize that a mistake is not the end of the world.  Continue to move forward and consult your experts.

Good luck and I wish you great success!!