I’m transitioning into the real estate investing field and would appreciate some advice on how to get into that field.

Hi Callie,Congrats on purchasing your second home and transitioning your primary into a rental!

It’s true that not being able to drive can make things a bit more complex, but you can definitely find ways around it.Using rideshare or public transportation is a viable option, especially in areas with good transit systems.

Thankfully we were able to transition to running a paddle board rental company and doing construction work, which was a great change compared to being trapped at a desk all day solving very difficult scientific and engineering problems!

I know how busy this will be, which is why ideally once we have 3-4 properties, the maintenance of the website, advertising, and property management will become my full time job (my wife will continue to work to provide some steady income during the transition)For your 4 questions - those are all excellent things to look out for and they are things I would not have thought to ask.

The answer to this question will take into account your mother's goals on how the money needs to work, transition plans in the future, risk tolerance, asset segment preferences (retail, industrial, MF, self-storage, etc.), and many other factors.

Whatever you utilize this HELOC for, it is imperitive that you transition these funds into opportunities that provide a much higher return than what you are borrowing at. 

My initial focus was on flipping, holding, and selling residential single-family homes in college areas, which provided a solid foundation in the nuances of real estate.After completing my degrees in late 2018, I transitioned my portfolio to a trusted partner (with whom I still collaborate) and relocated to Columbus.

Personally, if possible, I would take the tax free money and transition that into a commercial multifamily property (5+ unit property) rather than 1031.

I am most interested in doing a few flips first to build some capital and then transitioning to the BRRRR strategy.