Bird Dogging.....Why Start Out There?
Hello everyone and thanks for such a great forum!!!
Bird Dogging sounds like a good way to "START-OUT" but I'm looking to make some serious cash.
The town I live is has really benn turning inti a "RENTAL" type of town and more and more investors are buying up homes and converting them into multi family homes for either rental income or to resell for killer profits.
My cousin and I were talking today about how "CRAPPY" our jobs are (his anyway....I enjoy mine, but don't make enough $$) and we have always thought about getting into REI but are "BLIND" on this subject. We both want to make some serious cash and from our discussions...we were thinking about buying homes/condo's in need of repair and addressing the problems then reselling. Is this a good way to start out? We are both very good with tools and remodeling and don't mind getting our hands dirty. OR...... should we start out buying some CONDO's and using them as rental income???
This is very confusing to both of us and want to do it right. We live in a very $$$ part of the country (FAIRFIELD COUNTY CONNECTICUT) and we want to learn how to do this right.
Any help/comments will help!!
Thanks
Best way to start out? I guess that's really up to you and what you are looking for. Rehabbing and selling can get you some money in a relatively short period of time vs. renting. There are risks and drawbacks to both methods, all of which I am sure you can come up with on your own. Pick up a couple books at Barnes and Noble on the topic, read the msg boards here, and ask questions here. Remember, the more detailed questions you ask, the better answer you are most likely to get.
Ryan J. Schnabel
Rehabbing and Renting produce two different types of income. Rehabs produce CASH. The money is usually in a large lump sum when you sell. Rental properties produce CASH FLOW. You tend to invest a little bit of money but receive a steady stream of income. Personally, I like CASH. I'm addicted, what can I say. I am, however, purchasing my first rental property this month, just to test the waters. I'll let you know how it goes, but when the first call comes at 2am, i'm outa there
-Chris
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Live long and be profitable![ Edited by c-brainard on Date 02/08/2004 ]