New and looking for someone in the business to help me get stated

[Michael Bettinger]

I am a nurse by day and a father of 4 boys I am doing everything I can for my family. I want to get into real estate to one day get out of the rat rase of the hospital life. I have a house I bought back in 2014 and not sure how to go about starting out. Do I pull money out of my house I live in ? Do I pull out my 401 k to get started? Or do I start with a rehab and rent / flap. I know that airbnb do well in my area but have a high start up cost. I know that the housing is Hight here in Florida. I have spent the last month with books and podcasts. I listen to the podcast and it all sounds so easy. Just don't want to make a wrong start that could hurt my family life. I know that the hardest step is the first step into something new. Would love to hear what you guys have to say.

[Patricia Steiner]

Real Estate Investing isn't what most people think it is...there's nothing passive about it and more people lose money in it than make it.  In our market here in Tampa Bay, prices are high and inventory is vulgarly low. Insurance cost alone went up 40% this year and it's doubtful that it will go down in the years to come; taxes are some of the highest in the nation especially for non-homestead properties.  I recommend NOT starting with where to get the money. First find out what part of real estate investing - including the industry at large - would be interesting/exciting to you and that could involve your sons (build that family legacy!).  Recently, a local roofing company sold for $11 MILLION dollars to a man living in England. That investor saw that roofing was a recession-proof business and that the demand was never-ending here in Florida.  Handymen are hauling in six-figures and the ones I use have a six-week backlog. A new AC owner is begging for people who want to learn the business and possibly partner.  And, then there's dirt:  do you want to be a landlord?  If you think you might, pull up the Landlord/Tenant Laws online for Florida and KNOW these.  Flipping/Rehabbing more your preference?  What skills do you have that can put into a project?  You might want to take a class or more at Home Depot/Lowe's - because the more you can do on your own, the further your money will go. Look up what requires a building permit and what the filing process in...it's all online. 

And, there's this...it's not about getting out of hospital life, I bet, as much as it is about getting exciting about life again.  Take the time to find out what skills you have that apply to the real estate industry, what segment would allow you to make the biggest/fastest entry from rookie to leaving skid marks, and LEARN.  What you don't know will hurt you.  This is not a business for the meek because what it really is - well, it's this:  Creating, building, running, growing your own business.