All Forum Posts by: Joe Pascale

All fair points!  Thanks for the feedback.  I’m still exploring some day job options that might give me the most schedule flexibility for pouring time into the real estate business.  

The point about the 1031 is a good one— so, I’ll keep in mind that any flip we do get into has to be funded outside of that original seed money from the sale of my home.  

I’d still like to work towards the same goal… but I’ll be cautious about my steps along the way.  

First time poster— forgive me for the vague question, but I’m trying to organize my thoughts and plans!  

I’m currently selling my home at a fair profit ($250K with a 1031 exchange) and using the proceeds to go into a real estate business with my mother.  She has a great W2 job and a home of her own.   I also have a small amount of cash saved up ($20K).  
We’d like to put most of the funds from the sale of my house into rent and hold real estate investments to build wealth over time.

BUT… I closed a business when I sold my home.  I acknowledge that I still need a day job.  But I struggle with the routine of most jobs.  I would LOVE to find a way to do real estate full time as quickly as possible.  Is it realistic to start into our first flip while simultaneously beginning our rental portfolio?  And, if I work full time on the flip, can flipping be my full-time job?  I’d be happy to live in the flips (or in my RV on site) during each rehab.  I’d be willing to do flips anywhere in the USA.

… that’s what I’d really love to do— invest in rentals and do flips as my full-time job.  Any insights to talk me into or out of this plan would be great!