How did you get started?

General Real Estate Investing
1

Hello community,

I thought it would be interesting to hear from some of the REI gurus here. How did you get started? What led you to seek REI? What can you give to motivate us beginners?

Myself, I’m just getting started. Well, I’ve read on the topic, researched, took a REI class, and even taken the real estate person course, but haven’t gone for my license. I’m more affraid to take that first step! I’ve saved up a few thousand, but dont know what it is enough. I NEED MOTIVATION!! :slight_smile:

I appreciate any stories and advise you can share…

2

i got started borrowing some money and going with my gut. at some point you need to stop worrying and take the plunge.

http://moneyshaker.blogspot.com/2005/09/how-i-started-investing-in-real-estate.html

3

Thanks Niravmd for sharing your story with us, it´s a really inspiring one.

Regards,
Paulo

4

Niravmd,

Thanks for the details.

I especially like how you’ve “managed”, (and risked), to work outside your area.

-Mike

5

working outside your area is easy.you need to find a prop mgmt company that is reliable and you need to make sure you buy 3-4 homes.[either yourself or with friends] so you have leverage.

i’m also starting to look into the midwest for cashflowing properties.
southwest flies almost everywhere for a few hundred bucks!

6

Niravmd - I appreciate your helpful posts to me on some other topics I started. :slight_smile: I just wanted to mention that if you’re ever interested in investments in Canada to let me know. I know of one area in particular that is very reasonably priced and yet the rents are making a lot of landlords pretty wealthy.

Christina

7

niravmd,
I want to invest outside of my state (maryland). I have yet to do my first deal, but I’m certainly ready to move when everything comes together. So I have those first deal jitters plus the out of state thing kind worries me.
HOwever, I had 2 people contacting me today from out of my state via my website. If these are good deals I don’t want to blow it with them.
What is your advice for investing out of state? I read your blog and see that you successfully do it.
Thanks,
Immy

8

i have a system in place for each area i invest in. if decide i want to
invest in a particular area, i get an agent & a property manager-handyman as part of the team. i also buy in bulk in that area
so my efforts are concentrated.

if you’re going to look at deals from anywhere in the country you need to research every deal from scratch. whether its a good deal or not, whats the buying and exit strategy, who’s going to manage or repair it.

I will probably be quite difficult to do so. i would first decide which areas you want to focus on and then build a team there. then start marketing in that area.

9

Thanks niravmd for sharing your story and posting your comments. It has been very inspirational. I just really need to get focused and concentrate on my first deal!