Getting Started… …but not too much… - Posted by Joe Scherb
Posted by Joe Scherb on March 15, 2002 at 21:14:21:
I’ve been putting my REI plans together for several months now. I’ve looked at properties, & even made an offer (that didn’t take). My first intent was to get a SFH rented expecting minimal monthly income. The payoff would be the tax benifit, appreciation, and most importantly experience as a landlord. This approach would allow me to “ease into” REI.
Conversely, many of the opinions I pick up from this web site suggest I heavily market the “I buy houses” message to have motivated sellers find me.
My concern with this approach is two fold;
I’ll generate too much activity. Remember, I’m not sure I even want to be a landlord. What if I hate it.
Motivated sellers looking to dump thier properties. Will I be approached by a ton of “loser” deals that have problems I can’t fix? For example, the bottom of the junkers, falling down, that more experienced REI’s have passed over. Or maybe too expensive properties that I can’t hold, or can’t flip for some reason.
The bottom line is I’m not sure I want to fire up the marketing machine. It might make more sense to go slowly.
Any comments? Be as critical on my thought process as possible.