All Forum Posts by: Joshua T Poulin

Thanks for all of the kind words and advice. I do have a good amount of my available money in the market, including REITs so I definitely want something less passive than that (with hopefully a bigger payoff for the effort). It does feel like rentals might still be the best bet for me in the beginning at least. I do like the method mentioned by @Melissa McRay Johnson as it seems to have some of the benefits of renting. @Account Closed

@Account Closed out of curiosity, why do you go for 25% down on loans?

@Daniel McNulty when you say $700k of capital, is that out of pocket or through use of loans?

@Steve Rozenberg I agree that I need to have a solid plan and I'll have to look up the SMART acronym. I think I need to focus on educating myself here for the next few weeks or months. I'll start with the free material and probably fire off more questions in the forums as I go.

Thanks again everyone!

Hi all, I'm Josh. I'm in my late 30's with a job in Aerospace and two young children (4 and 5). My job consumes a lot of my time and if I look up the ladder I can tell it's only going to get worse if I continue to advance in my career. My wife died two years ago of breast cancer so basically any time I'm not working I'm taking care of my kids and doing everything I can to make sure they are happy and engaged and learning (not just sitting in front of a TV), but it still doesn't feel like I have enough time with them and as they get older and start having baseball games and dance recitals, I don't want to just sub in a relative or some caregiver. So, I'd like to spend the next few years (3-5) building up a stream of passive income to the point where I could work part time and have more time with the kids (and maybe even some time for myself, my hobbies, dating, etc). I think roughly $5k per month could get me there, but there's definitely some uncertainty with what part time work will look like. 

I feel most drawn to owning rental property for a few reasons. 1) I have some familiarity with it as my parents own two small multifamily rentals. 2) I feel like flipping properties requires periods of intense focus and I'm not sure I have the time for that. Rentals seem to require more sustained attention but at lower levels (I would hire a property manager). 3) Other real estate investment activities seem more foreign, but maybe I'll learn more here and have a change of heart.

I've been a member on here for a bit but I haven't really been engaged at all. I think a big reason for that is I'm just very skeptical and a bit risk averse. My fears/concerns: 1) All great deals are going to be snapped up by the pros so what's the point in trying 2) The creators/authors/contributors to this website actually make their money selling books, etc. and not real estate investment and the whole thing is a big scam. I don't actually believe these things, but that voice in my head is there.

So in a nutshell, I'm someone that's motivated and willing to learn. I have the funds and credit to get loans. I'm have fears and skepticism to get over. And maybe most importantly, I don't have a lot of spare time. So I'm sure there are a lot of beginner guides and links you could point me to but what I could use from the community is a little pep talk (address my fears) and a little direction (Where should I focus? I could probably spend all day on this website but I don't have the time).

Thanks for reading if you've made it this far!

-Josh