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Updated almost 4 years ago,
Lots of cash and drive to be successful!
Hi there! I’m hoping to get some sound advice from this post that I can take to heart, and in turn, take action!
A bit of backstory, a few years ago, my life was going nowhere. I was in that horrible hamster wheel with two kids in diapers and barely making ends meet. My husband was working full-time, and I started cleaning houses to add a little extra income. I absolutely hated it, and I was literally missing my children's special moments and needed to make a change. During that time, I became became an entrepreneur, my avebue was direct sales, and I started pouring into others and myself like never before. It grew to be very successful very quickly, and we were able to get out of the "rat race" per se. I was earning six figures, and started pouring myself into self development and wealth management. It became very clear that real estate was going to be the place to invest. We acquired two beachfront short term rentals in the panhandle of Florida, a duplex by the beach, and also three mobile home parks. A portfolio worth over 2 million in 3 years. The idea of turning passive income into more passive income just makes sense. Fast forward to now, I'm finding myself single single mom after 11 years with more drive now more than ever to leave a legacy for my children, And show them they can do anything that they set their mind to....I tried to let my husband handle most of our real estate endeavors, but I always had a huge interest myself and and am continuing to learn. Right now, I understand short term rentals very well, and have learned a lot about mobile home parks. After this divorce is final, I'll have a lot of liquid cash and equity to use. I'm blessed with my side hustle that gives me a consistent large cash flow weekly with very few bills. I homeschool my children, but I have tons of time to continue to educate myself because I don't have a 9-5 job. I feel like I have a lot resources that could change my life, if I just knew how to use it. I want to use my story to inspire others, and rise higher and become a successful investor in real estate. I plan on shifting my focus to investing in Texas, the DFW area where I live. I would like to get into fix and flips, and using the BRRR method.
I don’t have a problem pulling the trigger when I feel like I have enough knowledge under my belt. My question is, could you leave me your number one advice that you wish you would’ve known before investing in real estate? I don’t feel like I’m a complete newbie, but I know there is a lot I still need to learn, so what are you’re number one resources or books that you feel are the most helpful?
I like the idea of using a wholesaler for deals and learning as I go but I do want to avoid the main pitfalls and mistakes that most make.