Where to start??? - Posted by Mark

Posted by Shawn J. Dostie on June 24, 2002 at 21:52:32:

It has been my experience that the good investment grade multifamily investments are indeed in poorer areas. That does not mean that these are bad people, just that they do not have the same opportunity afforded someone born and raised in suburbia. If you deal with them for any length of time, you will find just like in any other neighborhood, there are good ones and there are bad ones. Remember, when looking at investment, you are not going to live there. What you are looking for, is positive cash flow, where someone else is going to pay for your mortgage plus a little monthly profit. Now, when you can afford it, may be then you can look at better looking (not always better performing) investments.

Good luck,
Shawn J. Dostie(OH)

Where to start??? - Posted by Mark

Posted by Mark on June 24, 2002 at 20:27:04:

I am 29, single with very limited funds. To top that off right now I am currently not working and going back to school full time this september. I have been thinking about getting into real estate investing, since I do have a business and persoanl finance background. However I have no nowldege of this particular feild. I will be getting Carlton Sheets progarm in the near future, in the mean time is there anything that aide me in basically becoming a self made business man on his way to making a good positive cash flow. When it seems that I look for houses that are for investors, the majority of them are in low class neighborhoods and honestly that sort of scares me. Looking to get started and just wondering what advice that the readers of this board have to say!
Thank you in advance

Re: Where to start??? - Posted by Angela

Posted by Angela on June 28, 2002 at 14:18:22:

I second the last comment. Don’t be afraid of low-income neighborhoods. These are sometimes the tenants that will stay for years. I would just be careful if it’s the worst neighborhood in your city or a dangerous one.
I have a property in a low-income neighborhood and to most tenants the rent is the major payment they make and the only major payment - no nice cars to pay on, etc., so it’s their first priority - different from the rat racers.

Re: Where to start??? - Posted by David

Posted by David on June 26, 2002 at 12:47:07:

In my opinion, you should first finish your education. A successful businessman needs to be articulate (not to mention being able to spell elementary words correctly). I’m sorry about that comment, but if your last correspondence was a business letter, I assure you that it would not have been taken seriously.
I do wish you the best of luck in the future.