hi, my name is craig and i have just become a member and started using this site. i have been very interested in real estate and just dont know how or where to get started. the one thing i do know is that this takes time, patience, and drive. i have all these, however limited time due to my school schedule, however all im doing now is trying to learn the business so i can apply on my off-quarters. it also seems to me that birddogging is the best way to start. any and all help will be greatly appreciated!!
thank you all
Howdy Craig:
The most important part of investing to to learn what makes a good deal. Anyone can throw a dart at a list of property and pick something to buy and sit and hold it for 30 years and pay it off and build equity over the long haul. Not a bad way to invest actually if you can keep it that long. A better way is to start with equity where you will have cash flow and built in equity if forced to sell or want a profit.
Birddogging is a great way to learn the business. Like you said it takes hard work and some luck too. Talking to Realtors, bankers, other investors on a daily basis will turn up leads for good deals. It is amazing how small the world is in re investing. A few weeks ago I was offered a duplex for sale by another investor. They made it sound really great until I found the address. It was one that I bought originally for $7500 and rehabbed with govt funds and lost in my BK. I did not want it for what I owed the bank much less an additional $15,000. It did sell and got fixed up and looks nice. I may have been wrong but you would have learned a lot by trying to sell this to me and other investors. Learning where and how they buy and watching the process is half the fun. You would be better off really getting to know a hand full of investors instead of only the email address for a great many. Talking and meeting and showing property is the best way to learn the business so you are ready to take on a project for yourself
Hope this helps some. Please post more questions if some of us can help more.