Planning to Get Started

[Aften Hennricks]

Howdy! I'm new to Bigger Pockets and looking from some perspective on our initial planning from more seasoned investors.

My spouse and I are at the beginning stages of getting into real estate investing and property management. Currently, we're in the process of selling inherited land which we live on to (a) pay off outstanding debts and (b) purchase a multi-family home to live-in and rent out. Our plan was to put up a sizable down payment to open up the option for a HELOC. From there, we were hoping to begin doing some flipping (to increase the cash we have available) and BRRRR'ing once we have the funds to do so.

We live in the Portland, OR metro area and have family in the outskirts of Eugene and Roseburg, so we're thinking about all of those areas for flips/BRRRRs. Roseburg family has some experience in flipping and renting, as well as contracting/handyman work. Our goal is to spend the year learning and saving, the second year working on a couple of properties, then taking off from there.

Perspectives? Does it sound like we're on a reasonable track here? Any thoughts or advice is appreciated.