What's on your To Do List?

Right out of the gate a person should pay down their bad debt, improve their credit score and then save cash. That alone is going to make investing a whole lot easier.

Edited: 06/26/2010 at 06:23AM

Ken Hicks

· Boonies, Pennsylvania

333 posts
1 award
50 influence

Nov 15 '08, 01:24 AM

Network with others in your industry. Understand your market. Spend hours on this site reading. There is so much information on here it's crazy. I do agree about paying down your debt. One of the biggest things that helps me is knowing were my personal fiances are going. It doesn't make sense if you make $300k and you live week to week what kind of freedom is that.

Best of luck

Edited: 06/26/2010 at 06:23AM

Jeff Licciardi

Real Estate Investor · New Hampshire

23 posts
50 influence

Nov 15 '08, 01:48 AM

Network with who though? Is it best to look for other investors? People who offer services? Sellers?

I imagine if you go out with the intention of finding some investors, having a wholesale or bird dog opportunity to break the ice may be a great place to start.

Comments?

Thank you,
Jeff

Edited: 06/26/2010 at 06:23AM

Aaron Norris

Rehabber · Riverside, California

97 posts
6 awards
64 influence

Nov 15 '08, 01:52 AM

Find your local real estate club and find someone doing what you want to be doing in your area. Become really good at some service that might be of benefit to people and use what you got to get what you want.

Matthew hit is right on the nose and it's so important, save that money. In this market, cash is king and it will be for some time.

There are several wonderful clubs in San Diego. I love SDCIA if you're in San Diego proper. Bill Tan is himself a fantastic teacher. I took his financial calculator class and it was great. NSDREI meets in Vista and is a great group too.

Edited: 06/26/2010 at 06:23AM by Administrator : LINK REMOVED - Signature links belong in your sig.

Harrison Painter

· Indianapolis, Indiana

762 posts
10 awards
50 influence

Nov 15 '08, 02:15 AM

Newbie to do list:
The advice here is pretty unanimous about starting out. Get out and network, and do not be afraid to tell people what you are looking for!

Those local investor clubs are great, but also look into all types of business networking groups as well. You just never know where you will make a connection and what you will learn.

My to do list
Continue to grow our "Zero Down & Cash Flow" program for investors. We have launched Indianapolis & Atlanta, GA, and are working on confirming our next market. (Anybody here from Rochester, NY or Dallas Tx?)

Good luck!

Edited: 06/26/2010 at 06:23AM

Will Barnard

Rehabber · Santa Clarita, California

Donor Pro

7,826 posts
23 awards
92 influence

Nov 15 '08, 02:23 AM

Harrison, Not from Dallas as you know, but have many investments in that area (mostly Fort Worth side).

Edited: 06/26/2010 at 06:23AM

Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com

Harrison Painter

· Indianapolis, Indiana

762 posts
10 awards
50 influence

Nov 15 '08, 02:40 AM

What we need:

1. People who own their rehabbed properties for cash and can sell them at 65% of CURRENT market value. (They must have positive cash flow)

2. A source of bank owned properties (not listed and no deed restrictions) to purchase. Properties must be in solid areas, not war zones. (So tapes will not work). Basically neighborhoods that you and I would not be afraid to live in at one point and time in our lives. We need to be able to purchase and rehab these home and be able to sell them, with profit included, for 65% of CURRENT Market Value. (They must have positive cash flow.)

3. Of course a team of trusted rehabbers/wholesalers, one solid Realtor and a title company that my investment network can refer and depend on!

4. Contact info for a Compiler would be awesome!!!!!! :D

What do you think?

Edited: 06/26/2010 at 06:23AM