Where to start?? - Posted by John

Real Estate Investing
#1

Posted by Dirk Roach on October 12, 1998 at 19:29:13:

I going to have to disagree with you on this one Tom. I myself am fairly new and I find the majority of articles to be wirtten in a very user friendly way, especially for someone new.
Lonnie Scruggs’s articles pop right into my mind. His “down home” approach is not only makes the reader feel comfortable, but it also hypes the reader into the most important aspect, which is going out and doing some field research.
Bronchick’s articles are also very, very informitive, as are many, many of the others.
And what better resouce than this newsgroup or the chat room, what a great place to get your questions answered and to network.

My 2 cents, thanks and good luck to us all,

Dirk Roach

#2

Where to start?? - Posted by John

Posted by John on October 12, 1998 at 12:51:17:

I am interested in starting a part-time business with realestate and expand it into possibly full-time. I am very intringued by Lease/Options, Notes, Mobile Homes and all of the topics presented here.

Are there any recommendations on where to begin with little capital or experience but also needing to make immediate results?

Should one buy one course and specialize or try to buy more?

Any help or comments to get me started would be greatly appreciated.

#3

Re: Where to start?? - Posted by Jimbob

Posted by Jimbob on October 12, 1998 at 15:46:03:

John,

All good advice has been given by purchasing the courses and reading the posts on this board however, you need to understand some other considerations:

If you have very little money and no experience in real estate investing, the chances of you starting up an investing business and making a good living at it are slim and none. You would be best advised to secure a regular job, and in the meantime, study the investment materials, research the posts on this board, and begin your investing career at nights and on weekends.

Real Estate can be an extremely rewarding experience financially but unless you have the experience, it’s going to be a very rough road to travel unless you’ve done it for a while. You also need to know at least the basics about fixing up rundown properties as a lot of lease/options are properties people cannot sell for one reason or another, usually because they are in disrepair.

Jimbob

#4

Re: Where to start?? - Posted by phil fernandez

Posted by phil fernandez on October 12, 1998 at 13:49:09:

John,

If I were in your shoes, I would spend some money to educate myself. Your smart wanting to learn about mobiles, notes and lease options. Good money to be made with all three concepts.

For mobiles you need to purchase Lonnie Scruggs two books, Deals On Wheels and his second book.

For lease options definitely buy Bill Bronchicks course. The forms necessary to do lease/ options are in the course.

And finally, the best course I have seen on notes is Terry Vaughn’s Paper Into Gold.

There are not three better books/ courses out there. You can order all three from this site at the online catalogue.

#5

Re: Where to start?? - Posted by Tom Brown

Posted by Tom Brown on October 12, 1998 at 12:59:31:

The best way to start would be to buy a general creative real estate course and then decide what area of specialization appeals to you. The Carleton Sheets course is the best on the market as far as a general course in creative real estate investing. Also, if you have the money, taking your state’s real estate licensure course would be an excellent way to learn about the laws and procedures in your area.

#6

Maybe Not - Posted by Phillip (PA)

Posted by Phillip (PA) on October 12, 1998 at 13:22:31:

Personally, I don’t think that the Carleton Sheets course is the best generic course out there, especially for what it costs.

I would read through all the success stories and how-to articles, go to the library and pick up some books, and read the posts on this newsgroup, especially anything written by JPiper, Bud, Phil Fernandez, Ed, John, JP, Terry, etc…

I’d also read through the newspaper to get a sense of what my market was like (avg prices, things like that).

Phillip

#7

Almost 5 inches of Gold - Posted by John Behle

Posted by John Behle on October 12, 1998 at 14:47:37:

Ditto on reading what is posted here. I used up a toner cartidge on my laser printer just printing out my own copy of the free information posted here - that doesn’t include the posts.

That equates to more information than you will find in most of the courses out there. I believe it is a much rounder, more practical source of information also. So, remember the “Acres of Diamonds” story. You don’t need to search the world for it - it is right here underneath your feet. This is the place to start - especially with the success stories. You will get a true picture of what is possible and how - not some hyped of seminar example that happened to one person out of 10,000.

#8

Re: Maybe Not - Posted by Tom Brown

Posted by Tom Brown on October 12, 1998 at 13:35:46:

Most, if not all, of the articles in this newsgroup cover topics from a more advanced point of view than that of a person who is entirely new to real estate. That makes them all but useless to a new person without any background. It is largely all greek to a new or potential investor.