Newbie here with some questions on how to get on the right track.

[Sam Craven]

I’m very thankful for BP and the people on it, I read it many times a day and my learning has been exponential.

Background:
I’m 26, almost 2 years out of school, married no kids and I own my own home that was purchased as a foreclosure a year ago. (I didn’t know as much as I do now, but still well poised to take advantage of it in the future).

Since I have left school my pay has just over doubled. (thanks to changing jobs and chasing the dream of being in outsides technical sales) I spent the better part of my time since I left school wasting money(read: having too much fun) with cars and traveling. They are my drug. But I only have a 10k student loan @ 2% interest and the home loan. My credit is excellent. I have $10k liquid and will continue to save at $4k mo.

My goal is to make enough in real estate to set my wife up with a great private practice where she doesn’t have to take insurance (this happens in 4-6 years), and within 5-8 years quit my job and go full time investing. I want my money to work hard for me, and I want some real wealth. It seems like everything I want to accomplish in life requires money!

Questions:
Should I max out my 401k with a 3% match, or only up to the match and for now focus the money towards real estate?

I may have an opportunity to bring in an outside investment of 50k from the in laws. I would think offering 10% annual would be pretty fair. Do I take this opportunity or wait and do the first few deals on my own? This would realistically push my first investment purchase back about 6mo.

My thought process is to do a few flips to build liquidity, and start buying SFR, and MFR. I think 100k liquid and start buying long term SFRs and continue flipping to keep the continuous investment in SFRs coming. Is that too conservative?

Sorry for the long post, but to get the best answers from everyone you need all of the info! I would like to do a deal in 6mo after I develop some contacts and an even greater understanding. I’m lucky enough to be in the middle of a great Houston real estate market and I want to strike while the iron is hot.