The problem with choosing one strategy is that some of us don’t even know what the options are. Does anyone know a book, magazine, blog or something that can break down the options?
You have come to the right place. All of the information that you could ever want is right here in the Forums. Once you decide what avenue you wish to take, read and ask questions.
All strategies don’t work everywhere. What I would do is find somebody that is doing something that is working where you are. For example if you are in Houston Texas, flipping does not work but rentals work really well. In Southern California rentals don’t work as well but flipping works better.
Remember we are not doing this for the money we are doing it for the lifestyle. You want to live like a movie star, not work like a Hebrew slave no matter how much they are paying that Hebrew slave. Find a person where you live that has the time with his family, the wealth, the health, in general a person you want to live like and do what they do. Don’t improve on it, do exactly what they are doing. I would go to my local real estate investment club and look for them. Generally most of the people at the club are beginners who have not even bough t1 house. But you will be able to figure out which of them are actually doing things. Ask the professionals for leads. The professionals are not who you need to model, but they can lead you to people that you should. That is how I found my mentor. There was this investor grade real estate agent that was selling a house a month to this guy that never even got out of bed until noon and was “living the life”. When I asked him what he did, he was glad to show me.
if you want i can send you an email with an attachment that breaks all strategies down for you then it is up to you to choose which to learn and start with.
Looking for a teacher is their a posibility you can send me a copy of that email to :shocked
If you dont mind can you send me a copy of the strategy break down also.
May I also have a copy? I am clueless. I want to attend the investing club meeting next month. I sure would like to speak like I have done some research.
Thanks!
Sandy
Talk to investors in your target area even agents, mortgage brokers and other real estate professionals. You can also join your local REI Club and join groups on LinkedIN, BiggerPockets, Facebook, MySpace, Meetup.com, etc. The answer to your question depends more on your area. Also, keep in mind you do not have to do what everyone else is doing. Do your own due diligence and make sure the numbers make sense. Do not speculate for appreciation and make sure you have equity and cash flow so you have multiple exit strategies.
Here is a list of a few off the top of my head. I hope this helps.
-Buy, rent, hold
-Buy and Lease Option
-Buy and carry a note, then sell the note in the future
-Rehab and Flip
-Lease Option from a seller
-Master Lease Option
-Wholesale
-Joint Venture or Joint Venture Facilitation
-With cash flow properties such as rentals, apartments, mobile homes, office, retail and self storage you can buy, improve operations then hold or flip