Posted by phil fernandez on December 24, 2000 at 09:10:32:
David,
Welcome aboard.
Answer to #1 Sheets method does work, but there’s a lot more to it then what’s in his course. His course is barebones info without alot of detail. But it’s a start.
#2 You can make lots of money in both residetial and commercial. I’ve made mine in the residential sector and in that I’m including apartment complexes. There is a special section on this site that deals with commercial investing. Take a peak at it.
#3 Acquiring a real estate license. Some say it’s fine others feel it’s a hinderence. I wouldn’t get the license. If you get the license it’s too easy to slip into the realtor working for tips mentality instead of being out there crafting deals for yourself.
#4 Alot of people here started part time. I think you could do as well with commercial part time. However the more time you have for investing the better you’ll get at it and the more money you’ll make. Nothing wrong with starting part time though.
#5 This is THE REAL ESTATE INVESTING SITE of the entire net. There are both seasoned experts willing to answer your questions, part timers and new investors. Read all of the how to articles and money making ideas in there respective sections.
My buddies feel that the big money is in commercial instead of residential. Is this the case?
I have just completed a realestate sales course offered by a real estate broker (i.e. Century21…), should i go work as a saleperson parttime, to a get a better understanding of the industry?
Can commercial be done partime,like residential, while keeping my day job?
good websites? good books?
Thank you for your time, knowledge and your patience
Posted by BillW. on December 24, 2000 at 09:29:52:
Dave,
In answer to your questions:
Yes. It works, but it is a numbers game. You MUST find MOTIVATED sellers which means you will talk to a lot of people.
Yes. There is more money in commercial, but it’s harder.
3.Couldn’t hurt. The connections you will make might be able to help you. (lawyers, title companies, lenders, etc.).
4.Yes. In fact, until my CRE activities produced a sustainable cash flow well in excess of my day job, I would not even consider quitting. This can be a great business, but it’s not an easy one. For every success there are many who do not make it because of various reasons. Do not abruptly cut off your cash flow that takes care of your family. Just get started in your spare time and whenyou get the cash flowing phase out the J.O.B.
5.There are several good websites. This is one of the best. The experience and willingness to help from the people here is amazing. As to books, there are plenty available right here with a full money back policy. Check out all aspects of this site and you won’t go wrong.
Good luck to you and don’t hesitate to post questions here.
BillW.