Posted by david g on October 20, 2003 at 18:54:11:
When I started, I made some very costly mistakes for the reason that I did not get educated first. I got a very good mentor & after that I closed my first deal that netted me 17K. All this without any money or credit.
You also have to be willing to get your feet wet after getting educated.
David G.
Getting started - Posted by Tonya Jackson
Posted by Tonya Jackson on October 20, 2003 at 18:22:31:
HI,
I am a newbie even though I’ve been comming to this site for a few years. I’ve always been afraid to dive into real estate. Or I would come close to doing a deal and then allow someone to talk me out of it. Well I am 27 years old and would like to own my first two family home, iwould like to rent out the top and I leave in the bottom, My scenario is I don’t have good credit and I run a homebased business that is a year old. Any advice on how to go about making a little extra income along with obtaining my first income proerty would be greatly appreciated.
Sincerely
Tonya
Re: Getting started - Posted by Tonya Williams
Posted by Tonya Williams on October 22, 2003 at 18:37:05:
Thamks Guys,
I really appreciate evertything, i went to a success development seminar you know the one sponsored by ron legrands company and decided that i need to have some cash built up as well as looking for my real estate propert today i am looking for title companies that do simultaneous closings and i will keep all of you posted on my progress and thank you so much and GOD bless.
Re: Getting started - Posted by AC
Posted by AC on October 21, 2003 at 23:27:27:
To Brent, Brad, Roger, David and E. Eka:
What wonderful responses to Tonya. It makes me proud to be a participant of Creonline. You are all the reasons why people succeed in Real Estate.
Great people, great advice.
Thank you , thank you , thank you,
From a CreOnline Newbie.
P.S. Tonya, read the book: : “Think and Grow Rich” by Napolean Hill.
Re: Getting started - Posted by E.Eka
Posted by E.Eka on October 21, 2003 at 09:01:15:
Get a course. You can also download the lease option book by Finkel and Conti. Either way, the more education you have the better chance you have to succeed.
Re: Getting started - Posted by Brent_IL
Posted by Brent_IL on October 21, 2003 at 24:22:50:
Here are my impressions; they?re worth almost what you pay for them.
1 ? You?re a CRE dilettante. You come to the site and read about others doing deals, and you?ve convinced yourself that creative real estate deals can actually be done, and can be done by those having no cash, no credit, and no assets to use as collateral. However, you don?t believe that you can do the same.
2 - You haven?t put in enough effort to believe that you actually know how to go about doing any of this in a way that will work out the way that you want it to. When you know what you?re doing, and you know that you know what you?re doing, it is very unlikely that one of lesser knowledge can talk you out of doing a deal. Uncertainty makes us waver in our purpose.
3 ? The home business is an excuse, not a prohibition from CRE participation. The solution is simple. You need knowledge and experience. Follow the advice to newbies from Ron Starr, JohnBoy, JT-IN, Jim FL, and half a dozen other solid contributors that you?ve seen posted hundreds of times over the years. It isn?t going to change. You can?t succeed until you start.
Re: Getting started - Posted by Brad Crouch
Posted by Brad Crouch on October 20, 2003 at 21:30:08:
Tonya,
Try: http://www.realestatejobber.com/rei
Brad
Re: Getting started - Posted by Roger (WA)
Posted by Roger (WA) on October 20, 2003 at 21:06:21:
The first thing you should do is find a good realtor who specializes in working with investors. We found one and have been working with her for about 3 years now. She is very good and knows what’s going on all over town.
She has gotten us into some HUD homes and Fannie Mae home repos. This is a great way to start getting the rental you want at a good price. The realtor can go through the listings, get the lastest scoop on deals and act on your behalf and advise youon resale values and comps.
You need to dive in. If you have your creditand financing in place then it’s time to act. Without action you will always be on the sidelines. Time is on your side. This is great for you to start out in rentals. Get that first home and the rest will come.
If you are working with an investor realtor then they can help you make sure the numbers will work out in your favor before you buy.
Don’t listen to those who hold you back. If they are not investing and working towards developing multiple streams of income then they are the ones who are not looking to get ahead in life. It’s the common syndrome for some to hold you back because it will make them look the lesser.
Do what your heart tells you to. But make sure the numbers work out in your favor and you will succeed with perseverance. Feel free to email me if Ican answer any more of your questions. I can also recommend how to further your education.
Hope this helps,
Roger