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Updated over 5 years ago,
Just starting out in the investing property business
I've been in the retail automotive business for 20 years and I'm in my late 40's. I'm completely burnt out on the 8 am to 9 pm hours working Saturday and some Sundays with no time for my kids and wife. I'm not living but existing in a career and in life which isn't fulifilling or rewarding. I'm thinking of selling my primary home with approximately $75,000 in equity, reducing my overhead and getting into real estate investing business full time. I believe, I understand the risk involved in doing this. I just hate the thought of another 20 years passing and I've missed my kids growing up, no time with my wife or life and still be broke in a business, I hate going to everyday. I have approx. $135,000 saved now to invest and if I can sell my primary home in the near future another $75,000 to live on and invest with. My question to you long term successful investors is this enough money to jump all in full time in the real estate investing business and be able to turn enough cash flow and profits to create a good living and freedom? I would appreciate any feedback on this and how's the best way to go about doing this? I want to get started on the right track from the start on building my business. I've waited way to late in life to risk it all but I'm willing to do so now rather than continuing on this path that's very unfulfilling and working until I'm 90. I'll be investing in the state of Arkansas in one of the fastest growing cities in the state, all advice is greatly appreciated.
Thanks again