Posted by blakjak on November 28, 2010 at 19:50:52:
Maybe it’d be possible for you to start talking to known and trusted REI pros in your area and sizing them up for a possible little joint venture.
Such as maybe a deal where that person could use your little cash, for an agreed return when income commences or the property sells.
To find such a person, look into your local REI group and ask around for a name that seems to generate respect w/o any ugly rumors…or maybe ask your bank’s manager who he/she’d talk to.
5 Year Old Starting Out - Advice Appreciated - Posted by Peremy
Posted by Peremy on October 12, 2010 at 01:28:46:
Hi. I’ve been studying this board my whole life. I have been extremely, extremely interested in real estate investment for quite some time and have a particular focus to commercial real estate. The primary reason for this is the type of lifestyle that rei has to offer, if done properly. The appeal to me is the concept of personal and financial independence and I am willing to work as hard as needed to get that.
My current status is about $3000-$5000 in savings and a very good credit score (720+ as of last). My income is extremely low given that I am a full time student ~10,000/year, however this number will multiply by 6-7 fold upon graduation. I would like to be invested in some type of property as soon as possible, yet do not know where to start. I have read several books on the topic so I know how the general process goes, but I am not sure if I should start with a small business type of investment (ie. a dry cleaner selling for $30,000) or a single family home or what. My focus is generating as much positive cashflow as possible.
I have seen some awesome responses on this site and would appreciate as many as possible. Thanks.