Marine looking for real estate advice - Posted by M.M.

Posted by Wayne-NC on May 06, 2007 at 19:49:26:

Read books. This will do several things. First of all, it will identify your specific area of interest. Secondly, explain how to approach the subject and lastly, guide you along your way when you start. One major point I can make here is “It’s not how much you make but what you do with what you make.” In other words, invest well. I hope you like REI. If you do you will never work a day in your life.
Read this thread…
Much has been posted in all aspects of “getting started in REI” throughout this site.
Wishing you the best and thanks for your service!

Marine looking for real estate advice - Posted by M.M.

Posted by M.M. on May 06, 2007 at 19:25:29:

I am a young marine eager to begin investing in real estate and need all the help I can get. I am very interested in building a future for myself financially, but need help. If anyone is willing to lend a helping hand with some advice or personal stories, please email me.

Re: Marine looking for real estate advice - Posted by Barry (GA)

Posted by Barry (GA) on May 15, 2007 at 08:39:30:

Try these…
Beginners success
Pick a strategy
Why it might take months

Here’s the Link you need! - Posted by Terry Vaughan

Posted by Terry Vaughan on May 07, 2007 at 22:06:56:

Welcome aboard!

Here’s the JohnBoy link everyone talks about:


Re: Marine looking for real estate advice - Posted by bill

Posted by bill on May 07, 2007 at 19:09:39:

there was good post on here from johnboy. it has been highly reccomended reading for a couple of years or so. not sure how to find it. there are a couple of ways to go and plenty more than i know anything about. rental property, involves regular repaires tenant selection, maybe evicitions and so on. another way is wholesale flips, find a motivated homeowner and put house under contract and assign your contract to an investor with a profit built in for yourself. you can also rehab, where you buy fixers ,get them back in shape and resale them. i dont know alot about these except for rentals which is long term wealth building but more involved from managing perspective. search the archives on the subjects i mentioned above and that should be a good place to start. good luck. by the way my son is about 6 weeks into boot camp at paris island.

Re: Marine looking for real estate advice - Posted by JFM

Posted by JFM on May 07, 2007 at 05:21:07:

Former Marine Sgt says wait till you get out. Read, learn, save your money, and when you get discharged be ready. Unless your contract is up soon and you are living close to where you plan on investing. Semper Fi

Re: Marine looking for real estate advice - Posted by LK

Posted by LK on May 06, 2007 at 21:50:03:

As Wayne-NC said, read a book, or two, or three while you are working on your game plan. An archive search for “books” will give you some good suggestions. Below is the link to a post that is a mini-book that Ed Garcia from the financing forum put together recently. He includes a post by another investor named JohnBoy that is very enlightning.

Best of luck.

Re: Marine looking for real estate advice - Posted by camgere

Posted by camgere on May 06, 2007 at 20:24:08:

What are the three most important things in real estate?
Location. Location. Location.

High CAP rate areas (low cost housing/high rents proportionally) allow subject to and lease option to be feasable (0 down). Low cost areas also allow you to wholesale. Owner financing is more common. High LTVs (low down payments) with break even cash flow are more likely. Face it, coming up with a 5% downpayment is just easier in a low cost location than a high cost location. I live in a high cost coastal area. The numbers on most creative real estate methods just don’t work. Sure you can still make money on desperate sellers, but the up front money is substantial.

You don’t want to live in a bad neighborhood, but a blue collar neighborhood where people with jobs need rentals may be just the ticket. Talk to your buddies about their home towns, the more plain vanilla working class, the better. Their insights may be invaluable. Pick the location you start your real estate career in very carefully and avoid the pain of banging your head against the wall.

I heartily concur with the last line of Wayne-NC’s post.