Can Anyone Help Me?

Maria, what exactly are your goals? What are you trying to accomplish? Why real estate? Give us more information on YOU so we can better assist you...

Edited: 06/26/2010 at 07:43AM

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

Donor Pro

11,044 posts
24 awards
92 influence

Mar 26 '09, 01:03 PM

Tell us more about where your interests lie, Lena. Give us a little more info and we'll be able to help you get going.

Welcome to the site, BTW!

Edited: 06/26/2010 at 07:44AM

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Jen Tra

Residential Lender · Las Vegas, Nevada

6 posts
1 award
49 influence

Mar 26 '09, 09:47 PM

I've been RE investing for about 10 years and all I can say is to read everything you can find. Look for RE investing groups in your area, most are free or you may have to pay a small fee, but it's worth it. That's how I got most of my better deals, the better ones are never listed.

Also have a focus, if you like to work with REO, then focus on that.

When dealing with fixer-uppers be careful of hidden expenses. Once we brought a fixxer-upper that needed the whole pumping system change.

Get to know contractors and city inspectors, they will make your self a lot better.

Ask a lot of questions, don't be afraid. Offer to help to help other experience investors with their errands. You will learn a lot from the task.

I had an someone like you helping me and within six months,he was able to use what he learn to start investing by himself.

Avoid paying a lot of money for courses are books. Most of the info you can get for free if you know where to look.

Edited: 06/26/2010 at 07:44AM

Nick G

Real Estate Investor · Detroit, Michigan

51 posts
2 awards
50 influence

Mar 27 '09, 12:12 AM

Lena, you have already made a good choice by joining this forum, you will find a lot of great advice on here. Keep up your research and read as much about the business as you can, but make sure you act on it!

I am a new investor as well. I started back in August of 08. I now have 1 rental, 1 rent with option to buy, and closing on another rental next week. What I found extremely helpful was having a mentor (also my RE agent) who is in the RE investing business to give advice, examples, and guidance along the way. Joining a REI club can help you find these sorts of people.

Real Estate to me at least, was a little intimidating at first, but that quickly went away after my first deal. You learn more and more with each deal you make. If I were you I would go out and buy a property, don't buy the first thing you look at (well unless its a stellar deal), but do your due diligence and purchase something. That will teach you more than any book. Hands on real life experience is the way to go! Too many people just sit around and read books and look at houses online but never go out and actually do it. Not saying reading books on real estate is a bad idea, its definitely a great idea & can teach you a lot, but you need to put that information and advice into action.

Good luck!

Edited: 06/26/2010 at 07:44AM

Shane Wilson

Real Estate Investor · Rocky Face, Georgia

77 posts
1 award
50 influence

Mar 28 '09, 03:43 AM

Lena, first just spend some time educating yourself and networking.

I would highly suggest seeking out those in your area who are investing and pick their brains. See if you can bring them a deal or two as a bird dog.

Once you can convince a few experienced investors that you are serious and willing take action you will find that many will help and mentor you.

Edited: 06/26/2010 at 07:45AM