Re: need advice - Posted by Mike Daly
Posted by Mike Daly on March 05, 2002 at 14:25:09:
The best way to start out in RE investing is to invest as if you have no money and no credit. There is a learning curve to RE investing, and while you’re on that curve you want to avoid putting your own credit and money at risk – I know this from personal experience.
Rentals are not the best place to start off in RE. While in theory you can build a large net worth, it very easy for things to go wrong (evicting tenants, major repairs, etc.) and if you don’t have a large pile of cash to draw on you could get in big trouble.
Focus on learning how to find good deals – once you have a real deal, you won’t have a problem finding the money. There are lots of courses and seminars out there, but I would recommend Joe Kaiser’s courses – his are the best value in my opinion. Also join your local RE association and start networking with people who can help you.