Posted by Craig IL on April 09, 2004 at 05:45:33:
Don’t let “Where to begin” interfer. So something. Start. Acquire a property and do somethin with it. Before you buy, have your exit strategy.
As far as all those other qeustions, you’ll be asking those for a long time, and the only way to gather information to answer them is to take action. The only true question before you is whether or not you EVER start.
Where to begin? - Posted by nancy
Posted by nancy on April 09, 2004 at 24:03:27:
I want to start doing real estate investing here in So. California…the timing is good, and we have a little stash that we could use to invest with. My problem is that I don’t even know where to begin. I think I would like to start buying forclosures to build up a nest egg and then buy more income/long term properties. But, everything I read about financing, risks with forclosures, etc., is overwhelming. Do I need to become an expert on every aspect of CRE, or can I just start with the little experience/knowledge I have (from buying 2 of our own homes) and learn as I go, trying to keep my eyes wide open?
I feel like I have sooooo mush to learn, and it is totally different than my former career.
Any advice and encouragement would be taken to heart!
Thanks.
Re: Where to begin? - Posted by Walt SFBay
Posted by Walt SFBay on April 09, 2004 at 14:02:18:
Find a local club(or maybe several)and start attending. You will meet people of various experience levels. Make contacts and find people to call so you can have your questions answered quickly. That way you can reduce mistakes and increase profits. Partner up with succcessful people and give them part of the deal. Half of something is a lot better than all of nothing. Then, after you have gained the experience and are doing your deals yourself, share what you’ve learned with someone else. Reward the people who helped you by helping the next guy.