Re: REAL ESTATE BREAKTHROUGHS - Posted by guru
Posted by guru on March 28, 1999 at 09:33:28:
Ask an older person what their best investment was and most often they say their house. If 1 is good would 5 be great? Your timidity and fear is good…it stops you from playing in traffic! To motivate yourself requires more than an email, it requires you to appraise who you are & who you want to be; then determine where you are and where you want to be in 5 or 10 years financially.
The idea of running an ad for a unit you have looked at - but haven’t bought yet - will help show you the demand in your market.
By the way, my first deal was with my saved money for the down payment + sweat equity (with my dad) for the repairs, followed by a good tenant selection and then a refi to take my cash down payment out & put about $3000 in my pocket = a 3/1 no maintaince bungalow appraised at $49,000 with a 8% 29,000 loan on it that I net $200+ per month on…with long term tenants.
Good luck - you can do it if you think you can and act on your beliefs.