Re: New To RE Investing - Posted by Bill K. (AZ)
Posted by Bill K. (AZ) on March 28, 1999 at 14:14:10:
Congratulations on finding this site and seeking out the advice of others. There are A LOT of knowledgeable folks here who will help guide you through the real estate maze.
I, too, started with Carleton Sheets’ course. However, while it piqued my interest and got me enthusiastic about investing, I found it to be a little short on detail. I think he tries to cover too many different areas for the amount of material you get. But, nonetheless, that was my start.
It is quite common to “make a go of” real estate investing. If you frequent this board for only a short time, you’ll see that people are doing well in real estate all the time. Be sure to check out the “Success Stories” section on this board.
“Flipping”, if you buy right, allows you to make a few thousand dollars fast. “Renting”, if you buy right, provides you with a positive cash flow of, say, a hundred dollars a month and an large equity payoff when you sell. So, it’s a matter of when you need the money and how inclined you are to deal with tenants and their problems.
Regarding economy fluctuations, I find that I am always a buyer and a seller. Hence, I’m going to do extremely well on one side of the equation. But, the best advice I ever heard was “make your money going in”. So, deals have to make financial sense from the start. Then, you don’t have to worry too much about fluctuations.
Welcome Aboard! I hope this helps.
Bill K. (AZ)