Posted by DJ-nyc on September 03, 2009 at 08:51:28:
Good stuff! 
Way to go Mike ia.
DJ-nyc
LOOKING TO INVEST - Posted by jeffrey
Posted by jeffrey on September 01, 2009 at 07:33:56:
My name is JEFF and I am a self employed refrigeration air conditioning mechanic licensed and insured in MARYLAND. I have approx. $30,000 in cash and can supply labor and purchase all electrical,plumbing and heating/cooling equipment at our cost.I am writing this because my credit is not that great and I would like to make a change for my future.Ishould have all credit issues resolved in the next 60 days.If anyone is interested or has any ideas feel free to contact me at 440-790-8190
Re: LOOKING TO INVEST - Posted by Wendy Patton
Posted by Wendy Patton on September 10, 2009 at 15:49:16:
Jeff, the first step I would recommend is to join your local REIA (Real Estate investing Association) You will be able to network with other investors from beginners to seasoned pros.
Re: LOOKING TO INVEST - Posted by mike ia
Posted by mike ia on September 02, 2009 at 22:18:20:
Jeff
Congratulations on your new endeavors… It takes alot of guts to make
change…period… I think Real Estate Investing if done properly could
change your life forever. You need to learn and read everything on this
forum. Learn your Real Estate Market, Start Small, Talk to others that
are in the RE Game…But most of all, you NEED TO DO IT!!!
Procrastination is the biggest killer in most peoples lives. They want to
do things, but never take that first step to success. You will have
failures, and times where you think you wont make it, but in the end
the richest, most successful people I know, started out in the trenches
just like you, and their passion and drive to succeed led them to there
road to success. Good Luck with your change in your future…Never
Stop and always keep moving forward…This Forum and the people
here will help you.
regards mike ia
Re: LOOKING TO INVEST - Posted by camgere
Posted by camgere on September 01, 2009 at 09:19:21:
Guard your $30,000! (and congratulations!)
What is it you want to do?
Buy and Hold (become a landlord and have tenants)?
Flip (buy and sell quickly) Houses, no fixup.
Flip Houses with fixup (your skills would be valuable here).
Joint Venture (partner up with money guy and do the work yourself).
Unlicensed real estate agent (you cleverly put a buyer and seller together for a fee without breaking any laws. You’ll have more trust issues than a wife who found lipstick on her husbands collar.) This is the famous “no money, no credit required” real estate. No guarantee the inexperienced won’t get some. Real estate knowledge is fractal, the closer you look, the more there is to learn.
What does a 3 bedroom/2 bath (cheap rental) house cost in your neighborhood?
What does an apartment (4 - 12 unit) go for in your neighborhood per unit?
Just give us an idea what $30,000 is worth around your parts.
If you can calculate CAP rates and figure out what your debt service rate (loan rate) is, so much the better.