Oldie But Newbie...need Advice
OK...here is the situation. I had made some decent money in my past in real estate. I bought a beach house in the Outer Banks, NC and flipped it 13 months later for a profit of about $130K. I have a house with about $100K equity and a rental home with about $100K equity. But I am totally cash poor right now. (don't ask).
I'm looking to right a few wrongs and get my investing project off the ground again. While I don't have much (if any) money right now, I have a substantial income (over $250K/year). What I genuinely want to know is, what is the quickest way for me to get back into the real estate game? My time is somewhat limited, but I want to get out of my 9-to-5 (or 7-to-9 as it really is).
I know this question is very broad-based and amateurish, but I want to start think-tanking my way intoa few good ideas. Should I wait a year and save up some $$$ to put in play, or is there an entry point I should get into now?
Thanks for all your advice.
Start flipping some houses. This will give you cash and experience. Once you can breathe again, worry about passive income.