Newbie/Wannabe Landlord with the PERFECT Circumstances?

[Jeremy Martin]

Hello,

My name is Jeremy. I'm have strong creative drive, and for last couple years I have begun to feel that I'm too smart to just be working full time. I know I can make money in a much smarter way, working less hours, but I often suffer from analysis paralysis.

I've discovered the idea of being a landlord and living on rental income. I've never owned a home. My landlord owns at least 15 rental properties, and I just know, if he can do it, then so can I. Over the last few years I've proven to myself through various projects and hobbies that I can learn any skill to accomplish my goal. I just need some direction to get started. I would appreciate any advice you could offer.

I also feel I'm in a very good position to get started:

- I'm 28; married 4 years

- No kids

- No debt whatsoever

- I work full time, $22/hr or gross about 45k/yr.

- Wife does not work, but she may have a part time job soon, about 13k/yr gross

- Currently $18,000 savings and ability to save more

- 1.5 yrs credit history, FICO score is 747

- Central valley CA area

Even better, I have a family member (Grandmother) who has been successful in real estate and has been giving me what I would consider "early inheritence" for the past couple years, hence my savings. I'm in VERY early talks with her about going into rentals, but she has expressed a willingness to invest in me, possibly even buying a duplex outright; again still very early.

EVEN better, I also have a twin brother who is a lot like me. He is very interested in working together since I started talking to him about the idea. He and his wife are double-income-no-kids, though they do have around 15k debt I believe. But they do have postive cash flow, more than me. He has good credit, I think around 800 with about 10 years history.

I don't know anything about buy a house, but I'm learning. I'm looking for recommendations or "If I were in your shoes" type suggestions. My/our goal is to eventually replace our incomes with rental income while working only a view hours a week. I know this will take some time, but I'd like to make some good progress toward this goal within 3-5 years. My goal is to stop working full time and gain back my free time for other pursuits, personal and maybe even business.

I'm open to single-family units. Multi-family seems more appealing to me. My Grandmother recommends a flipper that we live in for a year while fixing up.

Thanks again for any advice or suggestions!!!