Need Advice On HOW TO GET STARTED!!

Bird Dogs, Wholesaling
1

Can anyone recommend an INEXPENSIVE book or course on how to get started in this business? Maybe a mentor?
I’m currently a truck driver looking to make a career change and am not able to get to the local investor club meetings. I live in Buffalo,NY. I’m one paycheck from bankruptcy, so high priced courses and strategies that require a lot of money are not an option. Any advice would be greatly appreciated.
Thanks!!!

2

Do a mapquest “directions” to this location:

http://www.buffalolib.org/libraries/central/index.asp

If you drive around the block a few times you’ll find a free parking location and won’t have to pay.

Go up to the 2nd floor. The Business, Science Dept is up on that floor. Ask the person at the Information Desk where the real estate investing books are located in the stacks. Call letters beginning with HG, KF, and HD will put you in the right area.

Take out a couple that look interesting.

Be sure to renew/return them on time.

Take out more upon your return to the library.

Best bet, in my opinion is at least 6 months of study.

Know everything you can about what you're doing -Fred Trump, (The Donald's father)

-Mike

3

Six months from now he’ll be 5 months behind on mortgage payments.

Here’s what you need to do… (pick a stategy).

Flip

  1. Buy properties at a significant discount.

  2. Do something to them to make them more valuable without spending a lot of money (or else you’ll eat your profit).

  3. Sell them.

Or

Buy, Fix, Hold, Sell

  1. Buy properties at a signifcant discount.

  2. (optional) Do something to make them better rentals.

  3. Rent them out, or do lease options where you are renting them out with giving them an option to buy at your price giving you a significant profit when all is said and done.

  4. Sell the property for profit.

For either of these two strategies to be effective, you need to BUY AT A SIGNIFICANT DISCOUNT! (30 - 60% off).

Bad news is, it’s hard to find properties at discounts or motivated sellers willing to drop that far. Good news is the market is slow and getting slower so there’s only going to be more properties to buy!

4

Don’t forget to get paople on you team that you can trust. In the beggining check on everything. I would get multiple bids from contractors, multiple quotes from lenders, and make sure you have ways of varifying all your numbers (especially values).