First of all I want to say that I am tired of working at my job making other people rich. So, I have been studying about different ways to invest in real estate for the past 2 years. Just in the past 2 months I have decided that Lease/Options and Sub2s is exactly what I want to focus on. There are a few questions I would like to ask some of you experienced investors.
How long did it take you to start making serious money on lease/options and Sub2s? (enough money to quite your full time jobs)
What did you study to help you learn how to do LO and Sub2?
(The only book I’ve read so far is Wendy Patton’s Lease/Options and Sub2)
I started with lease options, also. Once I figured out what I was doing, business grew and I progressed nicely as an investor. I don’t know the exact timeframe, though, before I considered myself as “making serious money”. That’s different for everyone, and a very difficult question to answer.
I consider Carbonare’s The Naked Investor as the bible for lease purchasing. I read the manual, put it down, and knew what I had to do next. Really the best bargain out there, in my opinion.
How long it takes depends on you. Investing is a business, so the good you are with running a business and managing budgets, the faster you will achieve your goals.
How fast will it be before you can quit your job will depend on how much you make. If you make $20k a year currently, then within a year or less. If you make $200k/year then within 2 to 3 years if you get good at it.
Material wise, John $Cash% Locke is the master of sub2 and the best teacher you will find. Highly recommended and I own almost every course out there.
Lease option wise, I do not do lease options because Texas has strict laws on doing lease options.
Thanks for the advice. I have heard good things about Carbonare and John $Cash$ Locke’s courses. I will order these today. I’m really motivated to get started. I’m newly married and we plan to have a child next year. I want to give them the best life possible.