I need help on where to start!

I’m a young fellow (20) and I would like to start investing in real estate (fix and flipping, rentals, etc.) and I really just don’t know exactly where to start…I’ve read some material, even talked to some people who have been extremely successful doing this samething, but I’m jsut not sure where to start. I don’t have a ton of savings, but I do have good credit and minimal debt ($1,000 school loan). I have been told that I will qualify for a to buuy a HUD house, but I don’t know where to look to find HUD houses. I have experience rehabbing houses, so the work that comes along with fixing a house up is not new to me…I’m highly motivated…I just really need some help ??? ! Any advice would be GREATLY appreciated! ;D



Oh, and one more thing…would a duplex be a good investment for me??

Howdy Dukobe8:

Several ways to find Hud homes

Call a Realtor they are all sold thru Realtors that are approved by Hud. There are sever web sites that track Hud, Va, fannie may, freddie mac and all govt homes for sale.

Type Hud in google or even in the URL address and up pops several of these firms. You can also subscribe to a foreclosure listing service and find them before the sale. Owner occupants have first crack at Hud listed deals but after that they start taking bids from investors

Thanks for the information.

Thanks for the info ted! Anymore advice from others would be much appreciated!

find a house, buy and live-in it and rent out some rooms if you want so other people can pay your mortgage. A duplex would be even better.

Take some time to learn the ropes of successful complete a real estate transaction, all the hassle of being a homeowner (cost to fix stuff, etc) and being a landlord. Sounds simple, but do that for a year and see how you like it. No need to get in a hurry, screw-up and set yourself back. There is and will be always will be “good deal” in RE out there next year, in 3 years and in 30 years. Granted market conditions will chance of time and different techniques will need to be applies, but get the basics down first.

I bought my first house when I was 21; it was quite an experience. Fast forward 12 years and now I own about 12 properties ($3M+ vaue) with a gross rent roll of about $15k/mn; a large portion of that time I was out of the real estate market and only do it on a part-time basis (2-3 deals/ yr) yes, I still have a day job and live off that. Real estate is my retirement account and “piggy bank”. If I got laid off tomorrow, I probably would be more concerned about checking the morning surfing conditions than how I would pay the mortgage on my house.

Good luck

Mike in Calif.

Congratulations on your decision to get started early in life.
I would suggest either bird dogging or wholesaling to get some experience first (and to save up cash). Having experience with fixing up houses will be very helpful but not having experience with investing could hurt if you make a mistake. Whatever you choose to do keep learning and dont give up.

Good Luck!