How to break into Real Estate Investment - Posted by Shining Star

Posted by brandoncbsre on December 06, 2008 at 16:58:09:

I too have similar goals. I already own one small office building and would love to focus on Commercial. However commercial real estate is a more cash intensive choice over residential. When a vacancy occurs it take a MUCH longer time to fill. Therfore I have been focusing on REO single family homes. I have bought and rehabbed 3 so far. Two of them I have leased and the 3rd I just finsihed 2 weeks ago and is pending. Should close next month for a tidy little profit.

I would recommend you pick up a couple of duplexes or a small commercial property to get you feet wet while you still have a job. Continue to buy until you feel that the job is getting in the way of your success.

How to break into Real Estate Investment - Posted by Shining Star

Posted by Shining Star on December 02, 2008 at 09:57:12:

Hello,
I am a single mother with the following lia and assets:
liabilities:$236213 totals assets:$259718
home value: $215000 loan value: $165000 ($40K equity)
I have $19900 in cash and $24K in 401K.

My question is based on the following:
I want to quit my/transition from my job (whichever is the wiser of the two) to pursue commercial real estate full time. Given all of the numbers listed it costs me roughly $3770 to live per month with all my bills combined, that’s enough cash to last me roughly 5 months. I would like to preserve my cash reserves. How can I transition into the real estate world with the greatest ease considering my liquid cash (bank 1-4) while trying to preserve as much as possible my cash and 401K reserves?