Business or first rental property ?

[Jose Gonzalez]

Hello BP community,

A little about myself, my name is Jose and I’m from NYC originally but been living upstate NY since 2017 when I bought my first house. I have a great job that allows me to have a comfortable life, pay my mortgage, car, and support my family but I was living paycheck to paycheck. I have been reading books and listening to Bigger pockets podcast to learn more about the real estate world because I’m tired of living paycheck to paycheck.

I recently got a second 35 hrs a week job and I what I do is save 100% of that income and continue to live my life with my primary jobs income. So far I’ve saved approximately 15k. If I continue on this track i I am projected to have 30k by July. I must say I have the investment fever so I’ve been looking at houses online in Baltimore, Connecticut, Detroit, Colorado, and Texas just to get an idea of what’s out there.

This brings me to my point, a friend of mine is selling me a drop off dry cleaners near my house for 65k which he will finance 30k himself so I only have to come up with 35k. I wouldn’t work this myself so I would have to hire another employee making my income to approximately 500 to 1000 a month on a good month. I ultimately want to invest in rental properties and create long time passive income. Should I start that right away or give this business a chance???

I’m I better off with real estate right from the jump or should I invest in business first?

Ps: also, any advice on where to look for rental properties for a rookie like myself would be appreciate. Thank y’all in advance.