New Member From NYC =D

[Jason Lee]

Hello everyone! Quick background, I'm 22 years old with a strong drive to help my family out with early retirement. I'm from NYC but I doubt I will be investing there. I currently own and live in a 2 family house. We rent out one floor to tenants but that is as far as my real estate experience goes.

In terms of money to invest, my parents would lend me $100,000 or a little more to get my foot in the door to this opportunity. I am VERY new at this so a point in the right direction would help. I'm trying to research and analyze everything so far but I have to admit, this isn't easy.

Passive income would be ideal but making a relatively "quick" 15k to 25k flipping a house net profit in a few months would be awesome too! I am blessed to have no student loans, a decent job and the money to invest. Any help or suggestions would do! I don't mind traveling if that is what it takes to make it in this game.

[Account Closed]

Welcome to Bigger Pockets Jason Lee. You've come to a great place to learn.

Seems to me your first step is to evaluate your skills, desires, connections. After your assessment decide what your goals are and what you might need to meet your goals.

Out-of-state investments can be quite profitable, but they come with added risks. One risk is not understanding the market and the need to hire help that does understand the market. A significant risk as well is the loss of control working from a distance.

Flipping is a full time business and if you don't have the skill set to run the business you'll want to partner with someone that does.

All in all, I would take it slow for now and learn as much as you can. Take time to reach out and build a real estate network. Learn what properties will be deals that meet your investing / cash flow goals.