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Updated over 1 year ago on . Most recent reply
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New investor and looking to learn from an expert
Hello Everyone
I am just starting my journey in Real Estate Investing. A little bit about myself. I am 34 years old and been in my company for 15 years now. In order to survive in this world, I work two jobs about 65 hours a week. I have realize that I don't want to live like this anymore and want to take my life back. I miss family events because I am always working, my parents are getting older and I want to spend more time with them. Realizing my wants, I know I need help. The best thing to do now is to take action and look for help.
I want to learn from the best about investing in real estate and create a passive income in the next 5 years so I can quit my W2 job. Would anyone in my area be able to help me? I will work my a** off to be great
Thanks you
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Real estate investing will take a lot of time, knowledge and effort. If I were in your position I would first want to try and decrease the number of W-2 hours I'm working by increasing my income. Based on your post I'm assuming only working 40 hours a week and making an extra 10-20K a year would change your life. You'll either have to get a new job that pays more, or demonstrate to your current company your worth that extra amount each year.
Retiring off of passive income in 5 years can be done, but it will be extremely challenging especially starting at 0. You'll get a much faster and bigger ROI by getting even a 5K annual raise at your W-2 job than putting 50K into a deal that nets $250 a month for example.
Real estate is definitely a great long term wealth building venture, but based on your post there's some lower hanging fruit you can pick to change your life first.