Posted by michaela-ATL on January 12, 2004 at 11:55:34:
Josh,
My advice is: Don’t just pick something for the money.
Find a facet of real estate investing, that will give you pleasure in addition to money.
This can be a very difficult business. You may deal with tenants, that tear up your place, have budget overruns when rehabbing, be stuck with a property when you’re trying to wholesale.
Take a look at yourself and see what gives you pleasure: Do you enjoy wheeling and dealing - them maybe wholesaling. Do you really don’t care to deal with people, but prefer number crunching - maybe notes is the way to go. How about designing - then rehabbing might float your boat.
There are so many facets to this industry. Find something, that you will enjoy, or it will eat you alive!
I am really excited about getting into this business. I have excellent credit and even some cash available for investment. What is the best type of purchase to use to get started? Subject to, short sale, flipping, etc. I have begun reading books on investing and am curious to know which tecnique to use to get started.
Thanks for any help all of you can offer.
Posted by rebeccax on January 12, 2004 at 14:20:10:
noone can tell you what the best strategy is for you. I have been reading this site for over a year and during that time, I have purchased and read/completed at least four different books/courses on different strategies. I am finally at the point of choosing which strategy is right for me. It actually turned out to be a combination of two.
My point is that you have to study different strategies and truly understand your short and long term goals. Not all strategies will match your goals and if you don’t know what they are, you will have trouble in the long run.
Also, many gurus will tell you to just get started. Of course, doing is a critical part of success, but the more studying and planning you do in the beginning, the better you will do in the long run.