All Forum Posts by: Michael Bettinger

@Michael Bettinger sounds like you got a lot on your mind. For sure, do not take out anything from your 401k (especially if your employer is matching it!). If you plan on investing in the Tampa area, I recommend you meet with local RE groups up there (you should be able to find them on BP or meetup(dot)com as well as other sites). You will meet brokers, realtors, contractors, plumbers, etc.

Pulling money out of your house (HELOC) isn't a bad idea but you definitely need to know how to use it properly and not put your family at risk. Before you do anything, I'd recommend you at least do the math homework on different deals before doing a real deal. BP has plenty of resources for this. A fix and flip isn't a bad idea but you need to have a good contractor on your team and they're not easy to find. I have been investing in Fort Lauderdale for years and have a great team now but it took a while and many struggles to get to this level. You need to be mentally prepared for those first steps and a couple years after.

Without a doubt if you are serious about RE you need a mentor or coach. You seem a little lost. They can help with all your questions. I've coached before and I know many others have too. Either that or start reading everything you can get your hands on.