Just Went All-In On New Venture

[Jeff Mays]

Okay everyone, here we go...I'm sure that given my extensive business experience and background I'll have much more to contribute as we go along, but today is my first conversation with the Bigger Pockets community, so thank you in advance for your indulgence. 

I've had a successful career in automotive retail now for over 28 years, but it hasn't gotten me the freedom and independence, or the wealth (frankly) I should have at this point in life. I cringe as I write this next line, but I just left a position making over $300k/yr to venture into real estate investing (gulp.) After a year's worth of study, leaving is probably the only way to force myself to take this leap of faith seriously. My background provides an extensive head start in terms of business knowledge, so that's a positive. The challenge will be replacing as much of the income as I can as quickly as I can...hence, the reason for my post. I have some capital, and am more comfortable in the transactional space than collecting rent and looking only for a $200/mo or a $500/mo positive cash flow first step, and means I'm not necessarily starting from scratch.

That said, (or maybe not,) what does the community think about securing a first deal? Inside track on flips maybe? Partner up for the first couple deals to get going? Or point me in the right direction to look, at least? I have places in North Jersey and South Florida, which would be primary areas of interest, but I'm also familiar with Ohio where I grew up. 

Everyone's been here, I imagine, so thank you.

Jeff