I want to buy property, where do I start? - Posted by Charles Terrence Harper
Posted by Charles Terrence Harper on March 17, 2001 at 19:21:03:
I just heard John Burley on a Robert Kiyosaki Tape and I followed him to this website and am overwhelmed. Real Estate is the next part of my investment strategy, but I really don’t know where to start!
I want to do my first property in January, but I wonder if I could do it sooner. I don’t have a mortgage, incidental expenses or utilities because I work at a boarding school.
My wife and I have W2 at 50K+Room, Board, Transportation and Incidentals and 10K on Schedule C (Vending Machine Business), .5K Schedule C (Motivational Speaking). We have $12K (12.9%) in Consumer, $13K in Auto and $20K in business debt. I was hoping to pay off the consumer debt-maybe also the auto debt and start in Jan.
My questions are:
1.) Can I realistically get started in real estate in my town before Jan?
2.) If so, what should I try to learn from this site, is there an order to which a begginner might approach the tapes, postings, laws, etc.
I have appointments with a mortgage lender, CFP and CPA next week.
3.) If I am unrealistic, what should we use as a goal, pay off one thing, two things or everything? Obviously, if I pay off everything I will not be in the market for another two or three years.
I would apreciate your insight.