Posted by Stacy (AZ) on May 12, 2000 at 12:12:50:
I mean this to be an encouraging reply, but it will be up to you to decide to take it as I intend it.
Your last paragraph should be the “mantra” for 99% of the people that get interested in real estate investing, and ultimately quit. It seems you have found a possible deal, and are trying to make it work without educating yourself, first.
This forum is fantastic for asking questions, I agree. And I hope you will continue to ask questions here. But my advice is to buy a course or two to learn about the subject of your interest instead of attempting to wing it. Knowledge will give you power and confidence in your dealings, at a very cheap cost.
Some will disagree with my advice. Some may encourage you to jump in and learn by doing. All I can say to this is, after investing for only about three years myself, I continue to find out how much I still don’t know. There’s a saying, “you don’t yet know what you don’t know”. After all, this isn’t a game. These deals all have real-life legal ramifications.
To summarize, I hope you don’t get discouraged and “say nuts and contiue working at my Job for 30 years”. I would encourage you to take a little time to get some initial education, and you’ll be light-years ahead.