Starting out advice and questions.

[Jake Eidson]

Hi Bigger pockets community!

I don’t know if this is posted in the right area, please let me know if I should post this elsewhere or if other actions are needed. 

I have been reading and listening to the forums and podcasts for a while. I have been interested in real estate investing since starting university and recently saved up what I think is a good amount to get started. I probably could have started sooner as I read stories of people starting with less than what I have. I am in my early 30s, zero debt, Excellent credit and currently live in Minnesota (hoping to move to another state in a year or so.). 

I would like to plan my start for scaling (thinking of starting out with an owner occupied 2+ units to give a bit of experience owning and being a landlord. Not to mention trying to free up income from W2.) I have been trying to put together a 5 year general 5 year plan (That is the idea, experience being a landlord might mean I hire a PM and time to scale will likely be longer.). Goal after 5 years min cash flow of 6-7k a month. Is this goal realistic? (From what I hear the first property can be very impactful to jump starting one’s real estate journey (or very very negatively impact it,). I want to invest in real estate to heavily supplement W2 to open up options and financial security. 

I have a few other questions that I am hoping I can get your opinions and advice on. 

1. I always read about people starting in their 20s. Are their people who started in their 30s and still achieved their end goals that they may have had earlier?

2. What was the largest fear you had starting out? How have you overcome this fear (or how did you work to ease this fear?)?

3. What turned out to be the largest recurring headache you had on your real estate journey?

4.  If you had to begin again from zero, How would you start to set yourself up for achieving your goals?

5. What are some of the thing’s that you have done to increase your odds of success in real estate? 

6.  I have a good amount of time on my hands after my full time job. Is there a side hustle (outside of being a landlord.) related to real estate that you would recommend? (Looking for something in my spare time to bring funds in to help grease the gears in the beginning of the real estate journey.)