new member in Ventura; looking to learn a lot

[Erin Schenk]

My name is Erin and I just started checking out Bigger Pockets. I live in Ventura, have been teaching elementary PE for 10 years, and am interested in getting into real estate investing on the side. 

I grew up in Orange County, in Anaheim and Fullerton. When I was younger my dad did several fix and flips but then got stuck in one when the market crashed and hasnt done a deal since then. He tried to refinance it to keep it but the bank wasnt willing to work with him. Selling our families primary residence for a profit every 2-3 years during high school and college was how my parents were able to help me go to college.

My dad and I have talked about investing in properties together. However I cant qualify for a large enough traditional mortgage on my own with my teaching salary and until the foreclosure clears for my dad he wouldnt really be able to help me. So with that and other family stuff its probably not the best time for me to buy something but it is a great time for me to learn a lot so that I am able to find and identify good deals; and can be prepared in knowledge and finances when the right time and deal come. 

I am looking for learning as much as possible. Buy and hold is liking the strategy that would be best for me. Although fix and flip is something I would consider- but I would want to buy it at a price where I could cash flow or break even if I ended up having to hold it. dont want to make an early mistake that would knock out my future chances for a while. My goal would be to build enough passive income so that it I didnt have a teaching job for a year or two it wouldnt be a big deal. my bold goal would to be generate enough income and passive income so that my dad would be able to quit the job that he doesnt like and be able to work on real estate investing and other business ideas instead.