New to REI and unemployed - Posted by Sylvia W

Real Estate Investing
1

Posted by ScottE on March 14, 1999 at 17:09:25:

Sylvia,
You don’t need a job or cash to invest in RE. The best thing you can do is READ everything on this site. The money making ideas, success stories, etc. When you run across a question you need answered, some help with a deal or whatever, the people with the know how to help you are here.

Good Luck

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New to REI and unemployed - Posted by Sylvia W

Posted by Sylvia W on March 14, 1999 at 16:06:40:

I just purchased the CS course and have begun to study it and other material. Two weeks ago I lost my job. My question is how long after I become employed again must I wait to begin investing? I live in Southern California.

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Re: New to REI and unemployed - Posted by Sylvia Webb

Posted by Sylvia Webb on March 16, 1999 at 13:50:35:

Thanks to all for the encouragement. My immediate challenge is to generate cash. I need to generate approx. $8K per month net. I’ve only got enough cash for another 30 days. I’ve begun to read up on flips. The CS course seems to provide good info on fundamentals but I’m not finding much on flips. My questions are:

  1. Are there any good how to books on flips?
  2. What should my realistic income expectations be?
    I’ve been checking the local papers and internet.
    The market in So. CA. seems to be real tight. I can
    live with some reduction in net income but not
    much.
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Re: New to REI and unemployed - Posted by John (MD)

Posted by John (MD) on March 16, 1999 at 08:48:50:

Sylvia,
Start right now,with the info from your course and this web site,You will make more money in the next three months then all of last year.
If money is tight,you might want to buy Ron Legrand book from Barnes & Noble or Amazon,I think it’s less than $20.00 but it gives a good overview of three areas in real estate, where you can generate “quick cash” to take care of your “everyday bills”.
In my opinion, “flipping properties and/or contracts” is the faster way.
After your first or second “flip”,you may start thinking that ‘losing the job’ was the ‘best thing that could happen to you’.
Above All…DON’T GIVE UP.
John Parker

5

Re: New to REI and unemployed - Posted by David Alexander

Posted by David Alexander on March 14, 1999 at 17:54:08:

Can you survive without a job. If you can get the mental and emotional need for having a job out of your life you’ll make more money in a day than most people can make in a month or year. Pick up the books Rich/Dad Poor/Dad and the Cash Flow Quadrant.

David Alexander

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Don’t wait! - Posted by Randy -IL-

Posted by Randy -IL- on March 14, 1999 at 17:50:17:

Look through this board and you’ll see lots of posts from Steve Cook (SCook85) Last summer he was in the same boat as you. Just this past week he made more money than many people do in a year! I started attending this board about the same time he did. Although he is doing much better than I am but I’m on my way (Positive Mental Attitude)

Read everything on this site. It’s the BEST resource about real estate investing available.

Randy