Posted by JoeG on September 09, 2000 at 18:38:19:
What are you comfortable with?
How To Get Started In Real Estate!! - Posted by David Bradley
Posted by David Bradley on September 08, 2000 at 01:09:23:
Hi, my name is David Bradley. I have enjoyed reading the many posts on this site in recent weeks and thought I would share with you how I started a million dollar property portfolio from nothing in under eighteen months.
The first question for you is how did you come to where you are today? Most people have a job that takes up a lot of their time. But how does a person end up in any particular job? I?m assuming he / she had a desire to be a teacher, airline pilot, janitor or whatever. What gave them this desire? In a lot of cases it is money. Why? So they can have a lifestyle they want.
This is the process I went through when deciding I didn?t want a job anymore. I was sick of working for a living. I wanted income to flow to me so I could stop working and get on with doing all the things I used to save up for the weekend (play golf, spend more time with my wife or just do nothing!)
What property to buy, when to buy it, where to buy it, how to finance it?
These were all questions I can now answer. I knew what I wanted from property (the cash flow). I just had to find the time to go and get it. It is like buying your lunch on a busy day, you?re hungry and want to get a sandwich, if only you could get out of the office.
So, ask yourself, ?Why is investing in property important to you?? Write it down, look at it six times a day and commit to a time frame to make your goals happen. How can you turn your personal strengths into a competitive advantage as a property investor? What is your strategy? Buy and hold, rehab, flip, wrap?
Work all this out before going to look for houses. When you know what outcome you want it is amazing how you can cut through all the confusion and focus on houses that only met your criteria. I once met a guy whose favorite saying was ?It?s clear now?. Although he wore Coke bottle glasses, he had an amazing ability to see things as they were and how they compared to his goal. I regularly ask myself, ?Is buying this house bringing me closer or further away from my goal??
Sorry if this is not the magic pill you may have been looking for. But, I can guarantee that unless you pinpoint exactly what property you?re looking for, you will spend a lot of time and energy trying to find the needle in the haystack.
If you would like to know the specifics of my first deal, including all the numbers and how it worked out as my first wrap, then e-mail me at davebradley@bigpond.com.
David Bradley
Re: How To Get Started In Real Estate!! - Posted by Cathy
Posted by Cathy on September 08, 2000 at 20:51:58:
Me and my husband are looking into buying fixer uppers, fixing them and selling them. We know what we want and we know where we want to be, we just don’t know how to get there. Any info. would be great.
Why not send to success stories? - Posted by SueC
Posted by SueC on September 08, 2000 at 13:04:04:
Why not send you tale in to the Success Stories email address here on CRE?
Not to be negative, but your email sounds suspiciously like someone selling something (see opening paragraph). I think if you have some tips to sell, you can be more overt about it here 
Re: How To Get Started In Real Estate!! - Posted by chris-in
Posted by chris-in on September 08, 2000 at 11:56:09:
I am also a newbie, and this is excatly the thing I have been struggling with, what where and how. As the other respondent stated, I feel as if I am on information overload, and trying to bring all this info. together seems very overwhelming.
By the way Congrats on your accomplishments!!!
This puts things in a much better light.
Re: How To Get Started In Real Estate!! - Posted by wm
Posted by wm on September 08, 2000 at 06:26:58:
Thanks for the words of guidance. I’m new to REI personally, though I work for a mortgage company professionally. Needless to say, a lot of what I see here is “outside the box” of most convential lenders. I’ve been trying to keep up with the posts to better educate myself, but was finding it to be almost an information overload. So far, I’ve been most intrigued by the lease/option deals. It seems relatively safe and simple and therefore a logical first step. Your thoughts or any experience you’ve had with this would be appreciated.
You may have to wait awhile for an answer Sue… - Posted by soapymac
Posted by soapymac on September 08, 2000 at 20:36:47:
Dave’s home base is the land of OZ (Austrtalia).
Besides, he gave you an email address. Take advantage of it. He’s offering.
Cordially,
Roy MacLean
“soapymac”
I got the same impression but was too chicken to point it out ;o) - Posted by Mrs SD
Posted by Mrs SD on September 08, 2000 at 13:56:33:
nt
Re: How To Get Started In Real Estate!! - Posted by JoeS
Posted by JoeS on September 08, 2000 at 23:44:53:
Your first deals should be what you are comfortable with. I know that L/O’s are good, but I am personally not comfortable doing them, yet many people are. Find your niche, run it for all it’s worth.