More or less bits of everything listed here: the overwhelming amount of education available making me realize how little I know and various opportunities to explore, being the two key ones for me. I’ll elaborate:
I have a respectable amount of cash ready deploy and am unsure what would be the wisest direction given that quitting the 9-5 grind is a priority/goal and so building cash flow is imperative. I live in market that’s too expensive for me to invest in or where house hacking is an option (or a viable one for me personally) so my realistic options are:
1. I have pre-qualified for a mortgage to invest in a $150k property with 25% down with a pre financing ROI 6.9% in FL,
2. Pay cash for property in the mid-west and with the unencumbered cash flow re-invest.
3. Partner with a family member already active in the mid-west area on a duplex or multi family (with likelihood of requiring financing).
I should note that I am not entirely a RE novice as I have learned some lessons from an investment property I already own back in the UK with a large chunk of capital tied up (was intended to serve as a home rather than launching my RE gig; this was pre Rich Dad/ Richest Man in Babylon enlightenment...!) returning a low yield (~4%) which would be unwise to sell given political uncertainty currently limiting the home value increase.
I have set a deadline by when I must arrive at a decision and would welcome any thoughts that can assist in doing so :)