Originally posted by @Erica M Chambers:
Ok. Here are my goals:
1. To learn everything I can regarding real estate with emphasis on investing.
2. To start with single family homes and duplexes and work my way to multi-family units.
3. Get past my fear of doing this (I guess this should be first).
4. Build a portfolio to support me in retirement and empower my grandchildren.
5. To do this in the next ten years.
So far, I have been on Bigger Pockets on a daily basis. I will be obtaining my RE license in the next 60 days (The September session was already full). I realize that i don't necessarily need a RE license but I want to become educated from as many angles as possible.
Well you don't need to learn everything you can about RE in order to start. You will continue learning in a process. I would advise you to start with learning about your own credit, go to a lander and see what loan you are qualified for? Even if you don't have enough down payment , you can always try FHA. You mentioned your kids are grown .If you are flexible you can try househacking. I would suggest start with a duplex and live in one unit for a year. This is a grate opportunity to get your feet wet with landlording. I always come across duplexes wich are HUD properties that means for the first 15 or 20 days they are on a market, non owner occupi investors can not submit offers. So considering a crazy competition for duplexes in good areas HUD properties gives you a great chance to get it as the owner-occupy.
I personally don't like SF. If you have vacancy you have to pay mortgage out of pocket. But with duplex that risk is split between 2 units.
Some people read piles of books, listen to podcasts, attend seminars and different meet up groups they seems to know everything about RE but they never start.
