Doctor and Lawyer looking to become new real estate investors

[Ankur Tiwari]

Hi BP,

My wife and I are looking to start investing in real estate.  She is a corporate lawyer and I am a physician and we realize that we want to be in charge of our own income stream and not at the whim of those above us. We also have a new baby and realize that we really want to spend more time as a family and our current jobs don't allow that.  I have been listening to the BP podcast for about a year and am looking to make the plunge.  I reached out on BP to some real estate agents in our area (northern NJ), got in touch with one in hopes she would also help mentor us through the process.  Unfortunately haven't heard much from her since, though the initial conversation went well.  To be fair I did not chase her after she didnt follow-up on her end.  

Things I'm looking for or concerned about/or just thoughts

- When looking into BRRR properties

       - As always you don't know what you don't know

       - When looking into rehabbing a property the rehab costs are difficult to estimate (one contractor can est. 10s of thousands dollars different from a another)

- Should we not be looking at individual properties but rather syndications?  would this be a better investment of our money?

- We are willing to invest anywhere as long as the numbers make sense and we can set up the right systems to keep things running smoothly without us nearby.  

I'm sure there is a ton more, this is just to start.  Thank you in advance for your help and advice