Advice for a Newbie Investor
Hello-
I'm trying to get started in RE Investing any advice anyone can give I consider a gem. I find myself interested in BUY & HOLD /BUY & FLIP which of the 2 will I pursue I'm not sure, maybe it depends on which deal comes my way first. My WHY is financial freedom, generating automatic cash flow, not relying on a W2 job or 401k for living comfortable and being able to attend to what is most important in LIFE my FAMILY. My husband and I are giving people and unfortunately with our 9-5 Jobs there is but so much that we could give. About a year ago, I grew extremely tired of the idea of the 9-5 job and feeling that no matter how hard I work I was not making a huge dent to my plans of retiring comfortably. In researching ways that I could retire by the age of 50, I came across the BP website and became drawn to the RE world.Finally, there was something I could invest in that would be passive income and could generate good cash flow on a monthly basis if I set myself up right. However, starting out is not as easy as we picture it and sometimes fear could be our #1 enemy but I'm determined to learn and move forward and give it a shot.
I live in NYC and investing in my market would be hard I'm open to out of state investing. Any good advice you could give me? Thank you, Elizabeth