Hello, My name is Rick and I am very new to the business. I live in rural southeast Missouri and would like to know if anyone has any experience investing in real estate that is in rural areas? The type of investing I am interested in is either renting or flipping homes. I welcome all input and would like to know of any books I should read.
People invest everywhere including rural areas…you just may have to be more patient to find what it is that you’re looking for. Consider attending the closest REIA meeting to where you live and perhaps you could invest there as well.
Welcome Rick,
You’re off to a good start by reading this forum. I would also recommend any book by Leigh Robinson, especially:
Landlording : A Handy Manual for Scrupulous Landlords and Landladies Who Do It Themselves
What’s a Landlord to Do? : Landlording Q & A’s
propertymanager has a good book out too.
Regardless of your location the name of the game is:
- Find Houses for less than what others would be willing to pay
- Sell, or assign homes to others for more than you paid.
It’s pretty simple
Rural areas can be good and bad.
It depends on how rural it is.
Summed up really well!
Rick,
Welcome and nice to meet you.
I have flipped houses and also have rental properties all over the USA - from Hawaii to NC. It takes a lot of hard work overall.
What are your goals and your Why?
My goals may be different than yours…
I suggest to Honestly take the time and sit down and write out your 1, 5, and 10 year goals (In Pencil) and what assets you have currently to help you achieve those goals. Then take this list of goals and sit down with someone who is where you want to be at those marks and get their feedback on how real those goals are.
Also you never said anything about being Married, Kids, current Job, Credit background, what education or classes you have been through or what are your plans to get more education other than wanting to read a book.
I spoke to a lady last month who Had read 4 to 6 books a Year about Investing for 25 years…
Know what she still had not done one real estate deal…
If we all knew what your goals are etc, this would help all of us to give you a better insight I feel.