All Forum Posts by: Nikesh Patel

@Nikesh Patel

welcome. please recognize that it is very, very difficult to achieve cash flow at this time UNLESS you employ a hands-on, time intensive, creative strategy, OR a combination of such strategies.  if you buy vanilla long term rentals and hold them for 50 years, you will do great.  but those first few years are going to be a time of INVESTMENT - not a time of 'cash flow.'

https://www.biggerpockets.com/forums/12/topics/1171104-the-m...

 First place to start is to get your spouse on board. If they are not on board then that is a showstopper. I left my W2 several years ago to go into real estate full time. here is what I did:

1. I was doing real estate while I was working my W2 job. Why? Because being an entrepreneur is not what it is all cut out to be, it is a lot of stress and different headaches from the W2. 

2. I had spoken to my wife and come up with the "magic number" - which was how much money do we need set aside to make this work. 

3. I continuously updated her on where we stood and when I thought I would get to that number.

4. Once I got to that number I made the leap. I had already had the entity etc. setup from my prior deals etc., but things like changing it to S corp to collect a salary etc. are the small things that need to be brought up.

Now figuring out what aspect of real estate do you want to invest in, that depends on you, but also recognize starting in real estate right now is like trying to sell snow blowers in florida. It is going to be very hard for someone starting out to make money and it will take an incredible amount of time or effort. For me the TV never went on and I was spending 2-4 hours per night working on the side hustle. Did it payoff? I think so.

Hope this helps

I would just dive in. Figure out the goal your trying to achieve, pick a market, and start buying deals. You will become more and more confident through experience. 

There are some great appreciation focused opportunities in Columbus, Ohio!