Recently I have read ¨How to create a multiple streams of income¨on how easy it is to make money by investing in Real Estate with no money down! which is where I would be. They make it seem so easy and achievable that it really interested me. I´m Colombian citizen and soon I´ll be traveling to states in order to get some information and training, but I really don´t know where to start. I know I would need to learn a lot before I start business but that is my question, where do I start?? Do I take a class? HOw to do it? Is there a list of books or videos anyone recommends in a specific order? Please give me any good advice you can think of. It sounds like many of you are very knowledgable and are willing to share that knowledge so thank you in advance for your advice.
Well being that you are a colombian citizen I have no idea what hurdles you will run in to unless you plan on financing with all cash. But you are lacking this. Not sure what lenders, HML or Banks, will say about your citizenship.
Do you live now In Colombia or in the USA? If living in Colombia and you plan to travel to the US, the hurdles will be great. First, you will have to establish good credit in the US.
If already living in the US, I would go to a library and would read everything possible on how to buy real estate. This Club is a good place to ask questions, but you will walk on solid ground if you understand basic ideas of real estate. For example, do you know what Loan To Value is (LTV), or what Simple Interest is, or Anual Percentage Rate (APR) ? If not, then reading all you can is a good place to start and you don’t have to spend a cent.