new investor - Posted by chris

Posted by Tommy Ray on July 12, 2009 at 15:13:48:

Chris, knowing what I know now I would focus on:

  1. Buying “Subject to” current mortgage deals

  2. Buying properties with the highest capitalization rates (e.g. cash flow potential). I am getting into buying older foreclosed properties and converting them to boarding homes now. The cash flow numbers are incredible. If yo had a few of those you would “earn” loads of financing from banks… Flipside you would be reporting the nice income on your tax return but the banks would see the income on the same tax return and open up their vault of mortgage monies to you…

new investor - Posted by chris

Posted by chris on June 29, 2009 at 22:42:07:

I’m a real estate investor just getting started. fair credit,(670), and have no money . What is the easiest way to get going, and what type of deals should I be focused on looking for? It seems to me that I should be biulding cash reserves first. I live in central wisconsin, and the market seems to be pretty flat.

Re: new investor - Posted by Jeff (Tx)

Posted by Jeff (Tx) on July 24, 2009 at 01:12:32:

Hi Chris,
About 2 years ago I was at the same spot you are in. I went off the wrong path and thought I had to learn about everything. I was wrong. Pick one niche and learn what you can about that niche. I finally stuck with wholesaling.
Once I got that down it got clearer and easier. I have closed 4 deals in the last 3 months and made over 21k

Im not saying what you should pick, I’m just saying if you try to learn it all, you might not see a check for a few years. I tried to learn it all and it scared me.
(Can anyone else relate to that?)