Posted by Mike-BC on April 05, 2006 at 24:21:03:
I think the Romans would say to you “Tuum est” … which translates to it’s up to you. Do not get defensive, but rather take time to evaluate your options. RE investing can take many different forms, you need to find your niche, a niche that fits within your parameters for money requirements, time requirements, and skill requirements.
Let me expand on this for a moment: I am a teacher in my day job, I can barely put a hammer through drywall; but I do understand finances and I can communicate effectively to a variety of people. This is my skill set, so I buy, hold and rent properties for residual monthly income and long term capital gains; managing these properties myself.
A friend of mine is an immigrant from Croatia, english is a second language for him. He is a mason by trade, a bricklayer. He owns several properties in the city where we live. His niche is to find beaten up properties to fix up. He keeps some of these fixer uppers as rentals for on going monthly income, others he sells quickly for a profit.
You say you are a truck driver who spends only a few days each month at home. The “guaranteed” monthly income from driving truck is difficult to give up, and in fact you do not have to give it up until you are ready. You may find a rental property that requires little of your time other than collecting money on the first of each month, and the financing provides a positive cash flow. There are several other approaches to REI, just check out this site for more ideas.
Keep the faith William, those who persist will be rewarded for their efforts.
Mike in BC