HELP! - Posted by Fred

Real Estate Investing
#1

Posted by Jim Kennedy - Houston, TX on January 17, 2001 at 02:55:55:

Jim,

As usual, your post contains some very good advice to Fred. However, I’ve got to disagree with you on two of your comments.

First is your opinion that Bob Allen is the “true father of all creative investing…” You’re certainly entitled to your own opinion and I agree that Mr. Allen is one of the most widely known and highly respected creative real estate investors. But Bob Allen was just a youngster in 1959 when William Nickerson published his classic “How I Turned $1,000 Into a Million In Real Estate ? In My Spare Time”. Maybe some of the veterans who visit this news group can suggest other candidates for the title of “father of creative real estate”.

Secondly, you wrote:

Also, look at getting Robert Kiyosaki’s books as well. Get at least the first two, “Rich Dad, Poor Dad” and “Cash Flow Quadrant”.

Minor correction - those are his second and third books. His first two are:

  1. “If You Want To Be Rich & Happy Don?t Go To School?” (1992)
  2. “Rich Dad, Poor Dad” (1997)

“The Cashflow Quadrant” (1998) is his third book.

You might find it interesting to note that all of Kiyosaki’s books are available for purchase directly through his web site with the exception of his first book, which must be purchased directly from the publisher or through a bookstore. In fact, it wasn’t even mentioned on his web site until recently. I bought my copy at a bookstore and took it with me to the last CREOnline convention in hopes of having it autographed by the author. When Kiyosaki graciously consented, he mentioned that he no longer owns the rights to that book.

Jim, I enjoy reading your posts and think you should be commended for inspiring newbies. Keep up the good work.

Best of Success!!

Jim Kennedy,
Houston, TX

#2

HELP! - Posted by Fred

Posted by Fred on January 16, 2001 at 24:31:43:

I strongly believe in the business of Real State investing and I have decided that some how or another this year I am going to start getting into this businees. The only problem is that althought I have a real estate license, I know very little about the business and my bank account is almost nonexisting.
I wuold like for anyone to give me good advise on the less expensive course to buy or the cheapest way to start buying property with no money. I am in the Miami are in Florida and I have heard that this area is supposed to be good for RE incestors.

YOUR RESPONSES WILL BE GREATLY APPRETIATED.

#3

Re: HELP! - Posted by Freddy

Posted by Freddy on January 20, 2001 at 24:21:19:

I thank all of those who responded to my call, this is a great site, and I hope to become as knowledge and as sucessfull as many of you here…
Keep up the good work…I’ll try to follow your steps

Freddy

#4

Re: HELP! - Posted by Jim IL

Posted by Jim IL on January 16, 2001 at 17:10:28:

Fred,
Well, the least expensive and probably the best way to learn more about investing, is what you are doing now.
You are here, on the BEST source for investors of ALL levels in Creative Real Estate investing.
Read all you can here.
Go over the “How to articles” and the “success stories”, the “money making ideas”, and of course, all the posts here on the main board.
After you do this, get some books to read on the subject.
or do this now, and cover both.
You do not need to spend a dime on any books or courses to get started.
Goto the local public library, and get all the books you can find on negotiating, and real estate investing you can find.
Check out books by Bob Allen, the true father of all creative investing in my opinion.
And if that STILL is not enough, then goto amazon.com or the book store and buy some new ones.
Also, look at getting Robert Kiyosaki’s books as well.
Get at least the first two, “Rich Dad, Poor Dad” and “Cash Flow Quadrant”.
These will teach you to think outside the box and give you a whole new perspective on financial matters.
And when you feel somewhat comofortable that you understand some of the techniques talked about here, begin marketing yourself as a person who buys homes, and then buy some.
At some point, it would be VERY advantageous for you to get a good course.
Bill Bronchick, and Ron Legrand are my favorites for courses that will get deals done.
You can later get some of the others sold here that will expand your buying machine.
And remember, all the courses offered here are good.
And use that MLS access to locate some fixxer uppers to flip for quick cash.
As an agent you already know how to write up an agreement.
Make some low ball offers on some bank owned homes.
Just be sure to make your agreement assignable.
After you get one tied up at $.50 on the dollar, market it to investors who buy for cash, or do rehabs.
Assign your contract to them, and you’ll have cash to buy courses.

Read the articles here on “flipping”, and check the archives.
There are ways to make some cash fast in this business.

Good luck, and I hope I did not ramble too much,
Jim IL

#5

Re: HELP! - Posted by Paul H

Posted by Paul H on January 16, 2001 at 08:14:31:

Fred,
Since you are just starting out and have very little money much like most of us, I would recommend reading as many books on “no money down real estate” as possible - there are nummerous good ones. Then I would suggest purchasing some of the courses offered on this website - they are very well priced. Take course that offer no money down techniques, then get into flips, lease options, rentals and then notes. This will give you a broad range to get you started. Good luck!