Newbie from Dallas TX

[Shahrukh Qureshi]

This is Shahrukh and I am a network engineer and been out off job since April 2020 due to Covid-19 job cut. Since I have lost my and still not able to land myself any other position. It made me realize the importance of financial stability and I started to look into the real estate opportunities.

I am thinking of utilizing my 401K funds to invest into the Rental or fix and flip opportunities. I would really appreciate any assistant and guidance to succeed in this oppertunity.

My biggest challenge is to be able to calculate the true rehab cost and be able to find the general contractor with whom I can build long term relationship. I would really appreciate if you could recommend general contractor whom I can use for rehab cost consultant and performing the rehab work within the budget.

Thanking in advance for all you assistant. 

[Chris Levarek]

@Shahrukh Qureshi Welcome! I also am a network engineer investing in real estate. I moved into the space in 2018 and built an investment firm partnering with others focusing on multifamily small and large. Many ways to get started in real estate and many strategies to shift into. 

I always suggest when gettings started:

1. Educate - Read some of the Biggerpockets books  "The Book on Real Estate Investing" by Brandon Turner, "The Book on Estimating Rehab Costs.." by J. Scott. 
2. Partner - Use the BP search, (magnifying glass top menu) for keywords such as "contractor" "dallas contractor" "property manager" etc. Find and build your team in this manner. Search for others doing what you want to do and try emulate what they are doing.
3. Take Action - Simply get started and take action daily .
4. Repeat/Modify - Adjust and grow your strategy/portfolio and keep learning/partnering and taking action.

Consider investing passively into other real estate deals to learn and receive a return at the same time. 

Consider purchasing a mentorship with an experienced real estate  investor to learn.

There is no wrong way to get into real estate. Each will choose what they feel most comfortable or have time for.

I also used and continue to use my 401k and my Roth IRA for investing into real estate. Now is a great time especially with the CARES act to jump on investing passive or active into real estate especially with the current currency and stocks/etfs/bonds inevitable outcome.