Hello,
I am in my mid twenties and want to start investing in real estate. I have a steady job and can save about 66% of my salary per month after living expenses. I just got out of credit debt that has been haunting me for about 5 years. My credit rating is now EXCELLENT. I don’t have any savings. I never owned a house.
How can I start making assests in real estate?
What loans are available to me?
What about foreclosures?
What states are good to invest in?
Thanks ahead for the advice.
are you planning to do this full-time?
whats your source of income for living off of and investing?
where are you? how far are you planning to go to invest?
I want to start slow so maybe fulltime in future looks more likable. My source of income is my paycheck (what else would it be). I’m in Asia so I want to check out some opportunities out here since I may be able to find some good real estate thats really cheap (SE Asia).
The real estate investing business is a perfect part-time business because real estate is a people business. The people are the sellers, agents, tenants, contractors, lawyers and others you make a part of your success program. If you can deal with people and understand their motivations, you can succeed.
Find out if there is an investment club in your area. I know nothing of the Asian market but that would be where I’d begin. You may want to begin with Robert Kiyosaki’s books “Rich Dad/Poor Dad” series just to get the basics. Also read The E-Myth by Mike Gerber. As for money, ask friends/family to go in with you or to loan you money at first. If none of them are willing, you made need what we call a hard-moey lender (they usually charge a higher interest rate but are a source for funds) or perhaps someone in an investment club. Good luck and I wish you happy investing!
get four months of cash in the bank first.
Definitely start reading as much as you can! Rich Dad books are great; it’s where I started. I recommend attending a few workshops if some come to your area (they are often free) such as Robert Allen, etc. Robert Allen books can also help. You can get Allen and Kiyosaki books (Rich Dad) at Amazon for quite cheap.
There are lots of websites they suggest in those books that will help. ALso, check out resultsnow.com for a free e-book by Peter COnti.
There are a lot of options on how to do it…
One thing knocking on doors of foreclosures sucks… Takes too much time, too many negative vibes…
You can use something like www.rei-exchange.com which brings done deals to investors.
Carlton Sheets and similar preach a lot of hype that usually isn’t reality. It can be tough but Real Estate is where it is at.
Carlton
bluejeanguy,
There’s a real estate bubble right now, and it has started to pop. You really shouldn’t invest in real estate right now. The sky is falling. Have you thought about day trading? ;D 
But seriously…by now at least 85 scam artists have tried to sell you everything from their own mentoring to Noveau Riche. Am I right? Sure I am. I don’t even have to read the thread. Here’s how you get started on the road to your REI education for next to nothing:
First-- READ. Scour this site for starters, it’s one of the best sites out there, so READ, READ, READ it-- also start reading on:
http://www.creonline.com
http://www.realestatelink.net
http://www.wcrt.org/phpBB2/
http://www.dealmakerscafe.com
http://www.mrlandlord.com
http://www.landlord.com
Go read this thread on www.richdad.com :
http://forum.richdad.com/forums/tm.asp?m=3753&p=1&tmode=1&smode=1
buy a 5star condo/hotel and put it in their rental pool
That REI exchange site is interesting… where you buy the shares.
Anyone ever done that?