Posted by Jerry on February 12, 2000 at 20:52:51:
The best way to get started is to get started.
OK, I’m convinced… - Posted by Edward M.
Posted by Edward M. on February 10, 2000 at 09:45:57:
After taking the time to read over most of the posts in the group, I’ve gone and ordered the CS program. Wish me luck! My next question is… are there any books at the local book store anyone suggests can help me get started. Like I said, I’m a newbi, I’m slowly paying off some debt, so my current “in pocket” money is VERY small. I have been pre approved for a $75,000 mortgage with a minimum of 3% down & 9%. And I’ve managed to stash about $5,000 away for a down payment. Any suggestions for a good book or 2 would be greatly appreciated. I know I can be wordy, and sometimes wordy newbies can get annoying, so if I get out of hand, please say so.
Thanks in advance
Re: OK, I’m convinced… - Posted by Tim Conde
Posted by Tim Conde on February 16, 2000 at 12:36:45:
Supposedly, one of the REAL classics in real estate investing is HOW I TURNED $1,000 INTO A MILLION IN REAL ESTATE - in my spare time By William Nickerson. It has been out of print for many years, but I bought mine a few years back at a public library book sale for a dime. I have no idea when the last edition was done, but mine is dated 1959. I think it is a great book. I have over 100 books in my real estate investing library and regard each of them as just tools to my business. I have books by everyone from Tyler Hicks and Robert Allen to Robert Bruss and John Reed. All of them add to my “bag of tools” when I go out to do deals. I know that is perhaps not the answer you want, but I have never found ONE book that answers everything I need to know in all cases.
Good Luck.
Tim
Re: OK, I’m convinced… - Posted by WilliamGA
Posted by WilliamGA on February 11, 2000 at 17:28:49:
Edward,
My advice to you is to read that course carefully before you go and get financing to buy a home.
I have bought several homes in the last few months using a total amount of cash far less than the 5k you have saved for a downpayment. In fact, the last home I got was less than 1 yr old, in a beautiful new subdivision, and the owner just GAVE it to me!! Thats right, no cash of mine out of pocket. I agreed to take over payments and that was it. I sold it 4 days later for 13k down and will be collecting 200.00 per month cash flow for the next 30 years (or until the guy refi’s and then I will get another 8k or so.)
I have bought 3 houses for my family in my life the traditional way, banks, fees, points, closing costs, atty fees, stress, aggrivation and so on. Never again.
You can do it Edward, save that 5k for something else.
Good Luck!
WilliamGA
Re: OK, I’m convinced… - Posted by Mike
Posted by Mike on February 11, 2000 at 23:21:56:
William,
That just blows me away. I have not purchased any course or done any RE deals yet because I am a
newbie and have been trying to get info and build
up nerve to do so. I have been reading over this
sight for several weeks now and can’t believe some
of the deal’s I’ve read on this post. How do you
people find these deals? Are there really that many
of them out there. Maybe I’d better stop reading and
get my butt out there and start doing. But to a
newbie like me with no prior knowledge of REI, it’s
really hard to take that first step. I better figure
out what to do soon though, because my unemployment
runs out in a couple of weeks and I need to start
to have a income coming in. I just hope that if I do
get the nerve and start doing some of what I’m reading,
hopefully I’ll come across some of the deals that some of you out there have come across.
P.S.
Love this sight and all the information I’ve read
so far. It’s really givin me inspiration to do
something with my life. Thanks to everyone and
keep’on writing.