JUST GETTING STARTED

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What if I said I hand almoast No money to begin with and I want to Retire in 10 years!

What would you say is the best way to go about that?

What type of REI can help me meet my goal? oh oh oh oh

Comments(3)

  • am8711th December, 2003

    I would first set my goals towards accomplishing retirement in 10 years. Basic goals involving management of income, savings and expenses whether from R.E. or another business venture. After I have enough to retire on, I would liquidate my assets and move out of the US to another country. - Must have a beach nearby. One preferably with lower costs but higher quality of living. Its amazing how much you can live off depending on location.

  • hibby7611th December, 2003

    1. READ, READ, READ

    2. Find Investors

    3. Birddog for them

    4. Start buying Sub. to

    5. Move into SS's, rehabing, wholesaling, or other methods that have higher margins

    6. Begin to buy and hold (homes, condos, apartments, commercial, etc)

    7. Enjoy a margarita on the beach.

    There are MANY ways to go from point A to Z. This is just one of many.

  • edmeyer11th December, 2003

    You should probably start with a plan. Retiring can require a wide range of possible financial needs so after you figure out what your retirement lifestyle is you need to convert it into required cash flow and/or net worth. My preference would be to concentrate on required monthly cash flow. Then you should work a numerical plan for each year. Each year should have acquisitions, sales, trades. A spread sheet is a good tool for this (see my posted article, if you wish). Then massage the plan until it meets your needs. The plan should tell you what to do each year for the next 10 years. Then you work your plan. You will likely want to update it as well when needed.

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