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Updated almost 8 years ago on . Most recent reply

User Stats

103
Posts
148
Votes
Josh R.
  • Rental Property Investor
  • Wake Forest, NC
148
Votes |
103
Posts

Newbie Investor with prior experience as a Home Builder

Josh R.
  • Rental Property Investor
  • Wake Forest, NC
Posted

So my Wife and I are deciding to get into the Investor side of Real Estate! I have a colorful background meaning I have built Custom Houses/Apartments/Condos from the ground up for 4 years, got my Home Inspection Licence, the wife is PMP certified, and I currently work in an Investment Bank in the IT Department. We are debt free except for the mortgage on the house. We have a 5 year old going into Kindergarten and that will basically free up a mortgage payment. We make well into the 6 digits of combined income and the question that we are throwing around is do we go into vacation rentals/SFH rentals or do we do house flipping to start and get our feet wet? Credit Score over 750. Based on my previous experience in the building of houses and the wife's years of experience in project management and the financial security we have now, what has everyone else done with similar circumstances? We should be able to start with 30k cash. I have all the books from Rich Dad, Poor Dad to all the house flipping books from this sight , to investment books galore. Its time we start doing something at age 34 and utilize this opportunity. Any tips or ideas as to where to start? The goal is to get to a point where the passive income equals our current take home of 9k/month. Really interesting in hearing other peoples ideas on where to start :)

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