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Updated over 3 years ago,
Getting off the Ground
Good afternoon everybody!
I've lurked here for a bit here and there, but I've decided to take the plunge and post. I'm not really sure where to begin and would welcome any sage advice. I've had a successful corporate career for some time that affords me a pretty good income. Combine that with my wife's exceptional ability to manage money, and we've built up a decent pool of capital that we'd like to put to work making better than the 10-15% / year we're getting out of traditional investments.
I've looked into a few things that can be done while continuing in the day job, and the idea of investing in real estate keeps bubbling to the surface. I love the idea, but don't have a clue where to begin. Whenever I see success stories, they usually involve boot-strapping, or leveraging somebody you know from somewhere to give you some opportunity that you were able to martial forward to get the snowball rolling.
- We don't really have a network of people (friends and family are all in different states)
- We aren't Real Estate agents
- I don't have any handy-man/rehab skills
This sounds bad to me even as I write it, but all I really have going for me to get started is funding and a sincere interest in learning and growing myself. When I start running the numbers, money starts slipping away for all the services that I would have to pay for out of pocket, and I start getting lost trying to figure out how it works so well for everybody else.
So, I've decided to try something different and ask. Rather than trying to reinvent the wheel from other people's stories, maybe I can start my own here by asking you all directly for advice. Do I have enough to actually get things going? If so, where do I even start that takes things past what I might get from a forum or a book you can purchase about how to make money doing flips?
Thanks in advance! I'm grateful for any thread that will help me get some momentum.