Good morning everyone, I’m just getting started in this game and taking in all knowledge, and trying to sort through everything. A little bit of insight on my goals, I’m looking to become self sufficient again, and not working to make others wealthy. I currently I own my own home, and am looking to get started in the real estate investment business, starting off with a condo near the beach, to get my wife on board with things, since that interests her. I have to start somewhere, and think this would be a good start, correct me if I’m wrong. I have a bachelor’s in marketing, currently work in sales management, and am a very driven person and enjoy to make money, and would like to grow this into more rental properties. What’s the best advice on getting started down this path, and to make sure I’m researching and growing in the right direction? I’m in the Georgia market.
Welcome to REI Club! You can do what ever you set your mind to and you don't have to have an education or professional background to be successful.
I would stay away from Condo’s although there tempting, renting, financing and being able to sell to exit can be challenging and difficult. I would try to buy single family and deeded townhouses which are considered stand alone property.
Georgia is a beautiful state with a lot of opportunity especially in the Atlanta rental market! Atlanta is one of the fastest growing markets in the country so there is no doubt a lot going to happen in the short to mid term future!
If you want to do real estate part-time, and keep your day job, I would looking into doing some rentals and/or owner financing - for passive income. If you would like to quit your job, I would recommend doing retail rehabs (aka fix & flips); the market is hot right now and there is good money to be made doing that, and that’d give you earned income. Once your earned income exceeds your job income, and you have plenty of cash reserves, that’ll make it easy for you quit your job & invest full time
