Advice needed! Not quite a beginner but ready to launch!

[Maya V.]

Hey Bpers, 

I have been a member on this site for a couple of years and haven't done squat. I have made some mistakes but don't really want to focus on that. Truth is, I haven't been motivated or hungry enough but now I'm ravenous and ready to go. I own one property that I live in and have an ADU on the property that I rent out which helps.

I'm not quite sure how to get started since I don't have any cash and don't have a high paying job. I've read wholesaling is a good place to start but after reading through some threads here, I'm not sure. I'm looking to make some connections and network. As my profile reads, I live in the SF bay area in Oakland. I'm looking to mentor under someone. What I have to offer is experience as a union electrician and general construction knowledge ( I don't do this profession anymore due to the fact that I was not passionate about it). I do have a full time job. The bay area is expensive so not a great place to start as a newbie with no cash. Ultimately, I would love to be rehabbing/flipping and diversifying with other strategies as well. 

Hopefully I'm posting in the most effective section. I'm am not looking for a magic bullet or any handouts but some solid info and hopefully mentoring so I can launch. My work ethic is second to none and I'm prepared to work hard.

Parts of me is starting to wonder if I should sell my current home of 22 years (scary thought) which I roughly have at least $400K equity and use the proceeds to invest in other endeavors. 

[Arlen Chou]

@Maya V. congrats on getting past the reading phase, now on to the action part. I am not sure about what part of Oakland you are in, but there are many areas that have been rising fast. I have doors in North Oakland and Fruitvale and the appreciation and cash flow have been great. Don't sell your home, go pull yourself a HELOC so you will have cash ready in case you find something you like.

Wholesaling is great, but I think it is pretty hard here in Bay Area.  I personally don't understand why a seller would take a discounted rate so a wholesaler could make a profit when the market is so hot.

I am not saying the next part as a knock... if your work ethic is second to none, then you should leverage your electrical experience and get your side hustle going to build up cash.  Use your time between side jobs to drive different neighborhoods so you know the blocks like they are your own hood.  It does not matter if it is your passion or not, you have to grind to build/save cash so you have bullets to take down projects later.  

I personally have a W2 and have nearly 20 doors in the BA, 2 kids in high school, but I still grind on the weekends. Yesterday I tore out kitchen cabinets and did a dump run on a small renovation that I am doing in North Oakland. On the way to the job site, I looked at 4 buildings that I am considering. Stopped at 2 local shops in the areas that I am considering and shot the sh*t with the people working there to get a feel for the area.

There are guys on here that will say that I am F-ing crazy for doing the demo myself. But the reality is that the cost of having somebody come in do the demo and disposal would have cost me some serious coin in this crazy market. The total time it took to rip out the cabinets and break them down was 1 hour. Try finding somebody that is willing to come to a job site for just $20... not happening here in the BA.

You have a skill that most don't, leverage it.  You have appreciation that most don't, leverage it. Get ready for the next buying opportunity, it is coming.

The grind can be your best friend!