Posted by littleguru on January 09, 2003 at 23:34:04:
thanks to everyone for the input thats what makes this sit so cool people actually respond an help eachother THANKYOU ALL
very newbie, BUT CONFIDENT WILL BECOME THE BEST - Posted by Littleguru
Posted by Littleguru on January 07, 2003 at 18:32:45:
I just graduated from a big ten university in supply chain management realizing working for the other man sucks. I don’t want to find a job i would rather spend my time reading and educating myself on buying RE. Where to begin is everybodies question and its mine two. I know read as much as possible but should i just pick an area? Whats the best to perfect? Flipping? Mobiles? Foreclosures? PLEASE RESPOND ANY INFO WOULD BE GREATLY APPRCIATED
RE: newbie - Posted by Christen
Posted by Christen on January 08, 2003 at 18:45:39:
What is the market like where you are? What do you want to do? get in and out and make some cash, buy and hold and concentrate on cash flow? Do you have any rehabbing skills? I know a lot of great books but it would help if you’d narrow it down a little.
Re: very newbie, - Posted by Andrew
Posted by Andrew on January 08, 2003 at 09:08:43:
Hello Littleguru:
First, I have to say that I’m a newbie also but here is what I have learned from this website and those I’ve been in contact with.
Continue reading. I dont know what kind of books you’ve read up to now, but I’ve studied Joe Kaisers materials and find them well worth the money spent…really!!
Also, I got Bill Bronchicks L/O course and I’ve watched the videos but havent made much progress in the manual to date.
I would suggest L/O. Oh yes, Lonnie Scruggs’ book on buying and selling mobiles is really good also.
Everyone of these guys has excellent stuff and I’m happy with the materials.
For the time being, I’ll concentrate on l/o’s and mobiles.
Area? Everyone seems to point to staying in your neighborhood (within 25 miles or 30 minutes driving). Main thing is to invest in an area where you are familiar with the market and prices, schools, shopping, transportation, etc, etc, etc.
Hope this helps albeit just a little.
Best of luck to you!!
Sincerely,
Andrew
Re: RE: newbie - Posted by littleguru
Posted by littleguru on January 09, 2003 at 11:05:10:
My market range is enormous. I live in suburbia Detroit with ususally low priced houses the closer you get to the city. I want in and out cash not buy hold. I used to work in construction over summers during college so i can find my way around with contractors. But my question is this were the best money is or not. I’m thinking rehabs and mobiles, but again i’m just guessing. I just graduated college from Michigan StaTe University in a program #1 in the nation! I have the dream of working for myself and i know property is the way to go. I’m thinking about putting all my efforts into this and then if it doesn’t work out get a job… Sound good give me feedback pleasee!1
Re: very newbie, - Posted by little guru
Posted by little guru on January 09, 2003 at 11:10:54:
Hey thanks for the input. I believe I must focus on one or two areas and master them with is much knowledge as possible. I’m thinking rehabs, mobiles. I just graduated college from a big ten university but believe in realestate even though i know very little. I figure i’m young 22. I want to start this full time good idea? How realistic is it that i make a good living off property just beging i need average time frame… Thankyou
Re: RE: newbie - Posted by Christen
Posted by Christen on January 09, 2003 at 15:16:16:
Well I’ve read a lot of books and they have all said there are a lot of millionaire landlords but not many millionaire rehabbers. But I know of a friend of ours that rehabbs part time and makes 100,000/ yr. What is your financial goal? It’s really importnant to sit down with yourself. Look at what you want in the future and where you need to be financially. For us it was to stay home with our kids. My husband used to race dirtbikes and loved it. He really wanted it to be something he and our son could do together. He wants the best of everything as far as machines and tools for him and he wants to follow the circuit and go to races all over the country. Just one small thing that we really thought would be great that drove us to become financially independent? Write down a specific dollar amount in a specific time.
What is your situation as far as credit and cash to work with? Do you have a job now?