Re: PLEASE HELP ME GET STARTED - Posted by DJ
Posted by DJ on July 25, 2001 at 18:03:49:
Unfortunately, there is no such thing as buying real estate without any money. Somebody’s got to have the money, whether it’s you, an investor, family member, etc. You can do it, but it takes alot of studying, asking questions, meeting the right people and so on.
But whether you find someone else with the money or you obtain it yourself, you’ve still got personal investment no matter what they tell you. Depending on what approach you decide to take, number one, you’ve got to invest time, gas, phone bills, whether you choose to or not, advertising, business cards etc.
You have to remember, there alot of people who make their living from RE investing, and most of them don’t want you to know their secrets. They spend alot of time establishing contacts in the industry, such as lenders, RE Agents and others who act as bird dogs for properties, contractors who won’t rip them off, because 9 out of 10 houses that you can buy right, (by that I mean below appraised value), is gonna need some type of repair work or restorations done to make it resellable. Unless of course you decide to merely flip houses to another investor. There are so many ways you can go with investing. Most investors that are good and committed to it, don’t like greenhorns butting in on their territories, so you won’t find most seasoned investors very helpful, with the exception of the ones who frequent this site, but all they can do is merely offer advice! It’s a long road ahead, especially if you have no real estate experience at all! I don’t mean to discourage you, but I’ve been playing the game for a long time, and still learn something new everyday! Good luck, enjoy the ride, but watch your back! Simple Advice: Don’t jump into it and try to do a deal before you’re ready! Investing can be very lucrative and fun, but it can also break your heart as well as your bank account! DJ