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Updated over 6 years ago,
WTH do you start??? No seriously, planned for years, now what?
Hey everybody! Long time reader & listener, first time typer. I currently own and operate a pool service and repair company in Florida, I am 6 months removed from the W2 workforce of slave labor. I have wanted to be on my own my whole life and I was for a number of years but I got suckered into a bad marriage, a bad job, lots of other stuff, now I'm in good marriage, two awesome little girls and all the support and reason to succeed in the world. It's been a heck of a learning experience to take the route that I have but I want to get into real estate.
Being a property owner is a special satisfaction as I think most people on this forum probably know already. To make money off of that property and to be able to repeat that while providing value to others in some way shape or form sounds like a level of utopia that I have not gotten directions to yet, but I know it exists.
I have so many questions I have no idea where to start - I have read on real estate for years, I have a basic understanding of the different ways to invest and earn money, but besides the generic "there are many routes you have to decide what works for you answer", what's the answer?! IMO you have to try the different routes instead of just saying yeah I think a 40 unit apartment complex sounds like fun.
So I currently have limited capital, but with some effort and cashing out of the business I could have a decent amount, let's just say $150k. I want to try different things; I want a flexible lifestyle in the sense that I can travel and be with my family, but I also don't mind working 70-80 hour weeks when necessary. I have basic construction experience but nothing close to being a knowledgeable contractor.
So....wth do I do?????? I don't mean what do I read or research at this point, something actionable that won't result in guaranteed bankruptcy. That's my frustration now, what's the real (get guts get off the pot take action here's next step stop reading and planning do something) answer.
Thank you if you made it this far into my ranting thoughts that haunt me on a daily basis!
Dan.