If you were me what would you do?

[Meghan H.]

Hi Bigger Pockets Friends! If you were me what would you do. We are in Charlotte NC and unknowingly moved into a house hack and now are wanting to use our equity of 28K to make a profitable investment. What would get the best return? We are checking out a real estate fund that boasts 20-40% returns but liquidity is gone and it is not back by property. Or should I invest in a flips/ buy and holds? Lastly does anyone know of any Charlotte real estate firms or agents that specialize in investments like this? Thanks so much! Meghan

[Bob Smith]

Meghan,

My wife is a former ER nurse!  

I have been a long time investor.  I am sure others have more homes or more money or more troubles, etc.

Step 1.  Clearly define your goals

Step 2. Stay on bigger pockets and join the Metrolina Real Estate Investment Association (REIA)

Step 3.  Watch and learn.  Be cautious.  You will see the mentors, the superstars, the part timers, the full timers, the educated and the uneducated.  Beware!  Not everyone will have YOUR best interests in mind.

Step 4.  Refine your goal and determine who you want on your team.  When I started, I tried to do it all myself.  I a now having to regroup to redefine my role and build a high performance team to d the things I am not so good at doing.

Step 5.  Look at lots of opportunities.  Consider them practice runs.  Follow through with the buyers to see how it turned out.  In this way you can learn quickly while having someone else take the risk.

Be patient.  Ask questions.  Your on the right path.