Where To Begin ? ? ? Several Questions
I recently (two months ago) purchased my first rental property (duplex's) and so far am haveing good luck with them. I bought at a good price and have some cashflow from them. When I bought them I was more interested in the long term payoff, not the montht to month.
Since then I have gained more and more interest in REI and want to dedicate more of my time to it with the hope of quitting my job (8th grade teacher) in a few years and doing REI full time.
There is tons of good info on the TCI forum, but I am so far behind on the learning curve right now that I don't always understand what I am reading.
-what is s short sale?
-what is flipping?
-what is subject to?
-what is wholsaling
-other techniques?
Advice I have seen on the forum for a begginer is to choose one type of investing and learn all you can about it. I don't know where to begin.
The duplex's I bought were with traditional finances. I found the property through good luck and the referal of a friend that knew I was looking. Prior to that I had been looking for investment propety with an agent. I learned that there are very few good deals listed on MLS.
Is there a book that you would recomend that is a good overview to REI that would give me a jumping off point? Or where/how would I go about finding a mentor to learn about investing with? I have seen posts recommend investores to local REI clubs - is there such a club in the DFW area that somebody on the forum could recommend to me?
As always - Thanks for the help!!! 8-)
Carleton Sheet's material is a good, general, beginner, real estate investing course. You know, The guy on TV. It is by no means the only information that I would recommend, I recommend it only as a good course to start with. He does a good job of explaining numerous different methods in basic terms. It will also get your mind working creatively.
On this Forum I have seen very mixed reviews of Sheets. Some think very lowley of him - I'll look at it for myself and see what I think. Thanks for the advice.
Any other suggestions?
I purchased Ron LeGrand's course with a very nice discount through ebay (the course sells for 1500 i believe and it goes for 230 or so on ebay and on the shop here on this website). I felt it was really worth it - you get tons of cd's with great information/scenarious.
You should look into it.
But just to add to that and to more accurately answer your question...
I think you should purchase one of those courses to really learn all the different techniques there are in this business. There is tons of information here also (use the search). And finding a local REI club/association would be a really good way of finding a mentor/partners/etc.
How do I find a local REI club or association?
As always - Thanks!
I purchased the Carlton Sheets program and all of his things. I think he's pretty good. He explained things very well and had a lot of detail. Robert K had some books but never explained anything outright. He just kept saying real estate was a great investment.
[addsig]
I thought the following books I purchased from www.Amazon.com were very helpful. Mr. Wittenmyer books are packed with info. None of that double spaced pages with large print to make the book seem big crap.
Titles:
Perpetual Income - Bryan Wittenmyer
The Hidden Secrets of a Real Estate Estate Technician - Bryan Wittenmyer
101 Cost-Effective Ways to Increase the Value of Your Home - Steve Berges
Make Money with Fixer-Uppers and Renovations - Gary W. Eldred, PhD
Make Money with Small Income Properties - Gary W. Eldred, Phd
Financing Secrets of a Millonaire Real Estate Investor - William Bronchick
I thought the following books I purchased from www.Amazon.com were very helpful. Mr. Wittenmyer books are packed with info. None of that double spaced pages with large print to make the book seem big crap.
Titles:
Perpetual Income - Bryan Wittenmyer
The Hidden Secrets of a Real Estate Estate Technician - Bryan Wittenmyer
101 Cost-Effective Ways to Increase the Value of Your Home - Steve Berges
Make Money with Fixer-Uppers and Renovations - Gary W. Eldred, PhD
Make Money with Small Income Properties - Gary W. Eldred, Phd
Financing Secrets of a Millonaire Real Estate Investor - William Bronchick
I'm from the DFW area and there is a wed site for you. www.aireo.org
Quote:
On 2004-09-01 13:23, txcowboy wrote:
I'm from the DFW area and there is a wed site for you. http://www.aireo.org
Thanks!