Newbie from Warwick, Rhode Island

[Matthew Jepson]

Hello BP! My name is Matt. Im from Warwick, RI and seeking to begin investing in real estate. I am an absolute beginner. I’m here to learn. I`m 40 y/o with a wife and a 4 y/o daughter. I have a good job, I’m in no rush, but I do want to start creating passive income relatively soon. I'm fairly handy when it comes to home repair / mods. I'm also patient, organized, extremely hard working, and goal oriented. My background: Sales / Management / Marketing / Public Service.

Initially, as a first goal, I’d like to start with a flip or two then move on into rentals when I’ve built up some capital and experience. I want to start local so I can spend as much time at the project as needed. Longer term, I’d like to generate passive income equivalent to a part time job, and continue to build from there. The idea of finding a project or deal, or turning something in disrepair into something desirable appeals to me greatly.

Over time, I’d to like to develop a strong portfolio that could include a mix of different investments. I’m excited about the prospect of finding a deal, managing my first project, and seeing how the business suits me.

Where Im at right now... Being a born and bred Rhode Islander, I am somewhat familiar with the market and where I'd like to invest. My wife and I already own a home and have built up some equity in it. We are also searching for another primary residence and plan to rent out our current home when we find our new one. We are not in a hurry to buy yet and are focused primarily on getting our start in RE investing.

I have been scanning all the usual sites looking for deals in the right neighborhoods. The pickings seem a little slim right now. I feel kind of like a little kid standing at the deep end of the pool tentative about jumping in. I don't believe I will have trouble with funding, what I don't have is a relationship with a general contractor lined up. Perhaps, also a realtor who specializes in working with investors as opposed to primarily single family homes? Any and all advice would be welcome and appreciated. 

Thanks BP!