Posted by Antoinette Swanson on November 22, 2007 at 02:28:56:
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The Best Route - Posted by john
Posted by john on September 30, 2007 at 04:25:35:
I am currently serving in the United States navy and have only 9 months of active service and looking to get out and invest in real estate.
I am undecided on which aspect of real estate investing strategy I should take before getting out of the military due to making enough money in real estate while I’m still in the service. A good friend of mine invest in wholesales, rehabbing, and flips. I just want enough income right now from real estate before I get out of the service to make up for the money that the navy will not be paying me anymore.
My goals are to rent out my current primary residence and hopefully obtain at least one rental property other than my own residence.
What real estate stategy should I use to create more money before I get out of the service as well as create passive income?
Re: The Best Route - Posted by camgere
Posted by camgere on October 01, 2007 at 19:14:11:
You should be focusing on educating yourself on real estate investing, not on getting rich. Don’t expect to stop working 40 hours a week supporting yourself like turning off a light switch.
You should learn as much from your friend about wholesaling, rehabbing and flipping. Offer to be the gofer or anything to keep you in the game and learn everything you can. Did you beat experienced players the first time you played chess? Your first few deals will suck. The education you get from your first few deals will be worth a fortune.
Many people flip, which is labor intensive, to get enough money to buy and hold, which isn’t labor intensive. Your plan has been done successfully before by others.
Learn to calculate flip profits and CAP rates.
Real estate investing can be done 1, 2, 5, 10 or 40 hours a week. I do less than an hour a week since I haven’t had a vacancy for 2 years.
Thank you for your service and the best of luck to you!
Charley Austin - Posted by Bryan Walls
Posted by Bryan Walls on November 27, 2007 at 22:01:55:
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Twyla Curry - Posted by Angelica Roman
Posted by Angelica Roman on November 24, 2007 at 22:39:53:
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