Putting Down The Books And Stepping Out?
Hi,
I'm wanting to start investing in real estate but am totally new. Have been reading some but really feel unknowledgeable as I put down the books and get started.
What is the best way to get started investing in property with limited knowledge?(SFH, Fixers, Flips - not interested in renting yet) Are mentors or partners worth trying to find and how?
Lastly, any recommened books or seminars? Are they worth it?
I have decent capital, good credit and live in the Orlando, FL area.
Comments are much appreciated.
A good place to start is to be a shopper! go see what is out there. Thats where I started was "looking" . You will be surprised how your instincts are at what is a better deal for the area even if it is a "retail" price.
Welcome to the world of CRE
I like to learn constantly as that seems to broaden my base of available deals and ways to structure them (though I am really a rehabber).
Generally people gravitate to an area that is most comfortable to them.
If your interested in doing rehab then "Buy it Fix it Sell it & Profit" by Kevin Meyers is arguably the best book.
Subject To by John Locke is also excellent for subject to aquisition and he will mentor you through your deals with the purchase.
I would suggest the shortsale primer as well or something like it which can be downloaded on this site as an e-book for +- $50?
Education is really important, I started with the 12 CD carleton sheets program I picked up on Ebay for $40 as an eye opener and went from there.
The Kevin Myers book would have saved me an easy 50K if I had read it at the beginning of the carreer and kept me from a 10 year hiatus