In search of advice

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Jlatx85's picture
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Joined: 2014-06-29

Hello everyone. I may not even be posting this question on the right site but I thought I may get some good advice. I am 28, married, three kids and wanting to start investing in real estate, mainly buy and sell. I am currently working a full time job and have a house that was inherited that is free and clear. After selling it I should net 200k. I currently have 100k in savings. I am located in central texas and the market is pretty fair right now. I guess I am torn between quitting my job to pursue full time or just pursue it part time and keep my current job. I don't like my current job but it pays decent. I have been on vacation the last two weeks and it's really made me consider branching off and be able to be more accessible to my family. By the way, I am not interested in buy and hold as I do not want to be landlord now and that's why we are selling this one. Any advice is appreciated.

buyandhold's picture
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Joined: 2008-09-23

Don't do it. If you don't like your job, take a look at your skills and interests and find another job. You can't make a living flipping houses. ... think about it -- how can you possibly use 200k in capital to make 70-80-whatever K per year? .... Anyway, look at your balance sheet -- right now you have a house. If you sell your house, you will have 200k, but nowhere to live. It's just a swap of assets.

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