Posted by Ronald * Starr(in No CA) on October 01, 2003 at 20:48:31:
As I said in the first post, try the central valley or the rim. You might get some cash flow and you will likely be very pleased with the appreciation over the next few years.
Or go to some other state. Looking back at my original response, I see only part of one sentence. It is: "Or go to some other state. I invest in rent houses " the ending is: “in the state of Oklahoma.” I don’t expect much appreciation there. But I do get good cash flow.
Cutting your consumer expenses and investing is always a good idea, it seems to me. You buy properties as you can. In the first few years of investing, you may not build up much of an empire, but you can accelerate as you go along and get more experience and more assets to reinvest. Then in a few years, you are seeing real serious wealth building. Many people see little progress in their first couple of years and quit. That is not the way to get wealthy. It takes persistence. Wealth is usually built slowly.
So buy what you can with what you have now. With a positive cash flow. Cut expenses. Reinvest the money from the first properties and from your earnings into more properties. It will come. Persistence is the “secret” of real estate investing success.
Good InvestingRon Starr******