40 and started from scratch

[Nick Taylor]

Hello all

My name is Nick Taylor and I've just recently become interested/obsessed in real-estate. I just finished the book by Avery Carl "STR for Long-term wealth" and loved it, now all I do is listen to the bigger pockets pod cast and talk with my wife about possible options with real estate. Long story short, I lost my job back in 2020 and was lucky enough our savings allowed me stay home with our kiddos during that tough time. Now that things are getting back to normal I really want to starting working for myself and generate some income while being a "stahd" aka stay at home dad. I've gone through a ridiculous amount of ways to generate some income all online but none of them have worked out. Real estate I believe is a great opportunity for us to get the life we want. The problem, we used ALL our money and our credit is not the best. We're house rich though and have a good amount of equity, is using that to get started a terrible idea? My wife seems to think so but I feel like we're missing out on a opportunity to change our life. Anywhoo, cheers from Oregon.

Nick Taylor

[Michael Weigum]

@Nick Taylor

Welcome to BP! I too am very obsessed with real estate and STR. When I wanted to get started, I used a HELOC on my house to buy my first oceanfront condo. It has been doing great on Airbnb and VRBO. There are quite a few ways to work deals. Creative financing and no doc loans. You just have to make sure the numbers work. I'd be happy to chat about what worked for me and answer any questions you have. You're on the right track. Keep learning and ask a lot of questions. If you want it bad enough, there is a way to make it happen! Good Luck.