Where do I start

General Real Estate Investing
1

Hi All,

I very new to all real-estate things and I need a bit of advice. I purchased my first house in 2006 that I currently live in. I currently work 8-5 M-F. I love my job but I would like to also get into real-estate investing part time. I watch a lot of TV and see the people that are on Flip that House and I would like to do that one day. I would also like to have rental property one day as well. My dad which is 70 years old has owned property for over 30 years and as a young girl I thought boy I want to one dad be like dad and have people bring me a check every month. Now that I am older (27) I know there is much more to it. My dad and I stay so far apart that he can’t help me. And I do believe a lot has changed since my dad purchased houses years ago. I need to be pointed in the direction to get knowledge. There are tons of books out there and I don’t have time to read them all. Can anyone point me in the right direction to get started as I know nothing? Well I do know what I had to do to get my house. I hear that it is a bit different if I will not be living in the houses I would like to rehab or rent out. I would like to know other helpful sites and books to read. I think I can read 1 to 2 books a week.

My plan so far is:

  1. I enrolled in a class to take the realtor license test. (No, I do not want to be a realtor at all) but maybe the class will make me knowledgeable.
  2. Paying off some bills raised my credit score up to 703 (still working on trying to get it higher)

And I want to get started in 2-5 years I would like to educate my self at this time.

2

Hello wanna be,

Start by visiting this site on a regular basis and read everything you can here. If you can read 1-2 books a week, that is great and will add up fast. The book that started me was Rich Dad Poor Dad. It is not specific to RE, but it was a great starter. You may have to let go the “watching alot of TV”, if you are serious about starting this up as a side business. There is also a list of books over in the left column of this site that can get you started. Look for books that are in line with what you think you want to do.

Luck,

DB

3

Hey thanks for the advice. I am going to give up the TV. And do more reading and planning.

4

2-5 years? why are you waiting so long to begin investing?

a better way to think is to realize that you are “investing” now…you’re investing your TIME.

but even so, right now, give yourself 6 months to really realize what’s out there, in real estate and business in general.