Finding My Niche

Hey All,
I’ve been hanging around for a few days and I’ve been “studying” REI for several months and would like some suggestions on what “niche” to maybe start in. I’ve kind of focused on wholesaling, but If you all have the time, I would appreciate any suggestion/advice that you can provide on what might be another good area/niche of REI to focus aas a newbie eager to get his feet wet.

I live in Northwest Florida, I don’t have a whole lot of liquid capital to start with, but I do have a pretty nice (and steady) income and excellent credit.

Thanks, and I look forward to getting to know you all over the coming months.

Happy New Year!

I’d suggest becoming a landlord. See if you can find a cheap mobile home in LA (lower Alabama) and rent it out. Make sure it beats the 2% rule (not hard to do with mobiles) and you will need cash to do them. It doesn’t have to be your cash[i][/i] but you need cash. Here is an idea, get a business credit card that doesn’t report to your personal credit. Get one with no annual fee, 0% interest for the first 12 months and no balance transfer fee. This is free money all the way baby! On the 11th month, sign up for another and do another transfer, you should have this thing paid off in a few years if you bought it right. And you had a free loan all the way.

Don’t lie on the card application, you are a sole proprietor (you sell stuff on ebay right??) and put 0 dollars in the box that asks for yearly sales. You will get this card based off your good personal credit and this is totally legit. Ask right away for a credit line increase and then have them do a balance transfer into your checking account. If you pay a day late, your house of cards will come falling down, so I suggest you setup a system like automatic billpay. The beautiful thing is, when somebody pulls your credit, it doesn’t show up. I suggest citibusiness cards. Love em!


Do you know the word mortgage means “till death” in latin??? I’m only 26, but there is no way i’m putting a 20 or 30 year loan on my rentals. Mine are all financed with cash like this. This is just a game of finance, good luck.

movinandshakin, I suggest you also have a look at options and lease options as a way to break into this biz. They are safe and simple, and do not require large outlays of cash or need financing. I think they are the best way to start for most n00bs.
Good luck!

That’s what I’m thinkin…is that your Niche?

Take a look at all of the options and see if one speaks to you.

Because, believe me, it is a lot more fun to make your money doing something you enjoy.

If there any aspect of real estate that makes better use of your skill set? How much money do you have to start with (some aspects of real estate take a lot more cash)? How about your support system? Relatives, spouse, kids whio can take on some of the periferal tasks?

What are your long term goals? Does any aspect fit better into your long term goals? Some aspects take more time, some require you to be there all the time, some can be set down and walked away from for awhile, some can’t.

thanks for the advice…I’m not sure which option “speaks” to me, but my plan is to build some cash reserves in order to be in a better position to acquire undervalued properties (of course) and resell them. Although I have outstanding credit, I do not have a whole lot of cash to get started with (in REI terms anyway), so I’m thinking my best route would be options/lease options to build some cash.