Extreme Rookie Investor

Hello brothers and sisters how are you all today? I am a rookie investor and I want some season help in the right direction. I live in the Los Angels County area, I am currently in college, yet one of my goals is to be a real estate investor. What are some of the right paths to start? Consider me as not knowing the language of real estate, no knowledge at how to find deals, and someone who is willing to learn and take his time. Thank you all in advance for the advice.

Updated: 02:50PM, 10/30/2009

One thing I do know is that I want to buy and hold for long term. I have an idea of having a portfolio of 100+ properties in variations of SFR, Commercial (appts and duplex). The long term goal is to have enough passive income to be able to have time to d

Edited: 06/26/2010 at 10:19AM

Eddie Ziv

Real Estate Investor · Studio City, California

1803 posts
12555 Influence
9 Awards

Icon_minipost Oct 30 '09, 10:33 AM

Alfonso, Real Estate investment is a big word for a wide verity of field and areas.
First I would suggest that you determine your real estate goals. What is that you want to do? Do you want to wholesale? flip? Buy and rent? If you don't know what I am talking about, this is the site for you. Just browse around the site and learn.
If you know what I was saying then just chose the one or more that fits you, your personality and your interest.
There are tons of information on this site that you can learn from

Good luck.

Edited: 06/26/2010 at 10:19AM

Alfonso Valleza

Real Estate Investor · Los Angeles, California

11 posts
53 Influence
1 Award

Icon_minipost Oct 30 '09, 10:41 AM

Originally posted by Eddie Ziv

Alfonso, Real Estate investment is a big word for a wide verity of field and areas.
First I would suggest that you determine your real estate goals. What is that you want to do? Do you want to wholesale? flip? Buy and rent? If you don't know what I am talking about, this is the site for you. Just browse around the site and learn.
If you know what I was saying then just chose the one or more that fits you, your personality and your interest.
There are tons of information on this site that you can learn from

Good luck.

Hey brother thanks for the quick response. One thing I do know is that I want to buy and hold for long term. I have an idea of having a portfolio of 100+ properties in variations of SFR, Commercial (appts and duplex). The long term goal is to have enough passive income to be able to have time to donate my time to kids and philanthropy. I would like to generate enough passive income that total would give me 500+K Cash. Right now though I just do not know where to start as far as what I should know (Vocab), Connections, Mentors who already invest, and the mind set. I hope this helps describe what I want long term.

Short term I want to get my foundation knowing what I need to know as far as the particulars then set on how to buy my first property SFR to rent out.

Edited: 06/26/2010 at 10:19AM

Demos Loizides

Real Estate Investor · Dale City, Virginia

279 posts
1562 Influence
5 Awards

Icon_minipost Oct 30 '09, 10:41 AM

Spend a lot of time going through each of the forums and then reading articles, blog posts, etc. This will help you to learn all aspects of real estate investing and you might discover which aspect intrigues you. Go to other real estate investor sites and do the same thing.

Once you know what type of investor you want to become, focus in that area.

For now, just educate yourself for maybe the next month or two.

Edited: 06/26/2010 at 10:19AM by Demos Loizides

Matt DuSold

· Chicago, Illinois

317 posts
927 Influence
4 Awards

Icon_minipost Oct 30 '09, 11:29 AM

Welcome Alfonso. I have to agree with DemosL just read everything on this site and soak it all up. When you know exactly what you want focus on it learn everything you can.

Thats what I did before I graduated. I do wish I could have gotten in earlier but I am a pretty conservative dude and like to take everything slow. Now that Im out im starting to get up and going. Just study up and find a real investor who you can help for free or maybe even making a few bucks.

Edited: 06/26/2010 at 10:19AM

Nick Johnson

Real Estate Investor · Imperial Beach, California

101 posts
72 Influence
1 Award

Icon_minipost Oct 30 '09, 06:28 PM

Alfonso,

You can also look into local Real Estate Investor clubs in your area that might have free meetings that you can attend and learn what others in your area are doing. Soak it all up like a sponge.

Good luck with your learning process and just remember to take your time as to not put the cart before the horse.

Edited: 06/26/2010 at 10:19AM

P NW

· OR

1467 posts
12410 Influence
7 Awards

Icon_minipost Nov 01 '09, 12:48 AM

I've been thinking about this for a couple of days. I know I'm being grumpy, but I would sincerely like to see you succeed, and I think it is useful for you to know, so here goes.

I am not your sister.

My first reaction to you is to be offended by your excessive familiarity and friendliness which to appears to be phony and aimed only at softening me up to take advanatge of me.

I hope that was not your intention, but if you want to make any success at any sort of investing, you need to consider being more honest and work at sounding less like a con man. Your first sentence sounds like a Nigerian scam letter.

You will find good help at this forum, so stick around and learn.

Edited: 06/26/2010 at 10:19AM

Jon Holdman

Real Estate Investor · Denver, Colorado

11859 posts
75537 Influence
15 Awards

Icon_minipost Nov 01 '09, 01:18 AM

Having $500K in cash has little to do with how you earn the money and everything to do with your spending. If you simply spend less than you make, you can achieve this goal.

If your plan is to own rentals, read in the Rental Property forum. Especially read the sticky threads there about expenses. Failing to consider actual expenses, and buying properties that only work under the best of circumstances will be your biggest hurdle.

I could really care less about what you want to do with your money. This business is rife with gurus who claim to have some secret, and sell their wares to gullible newbies with a promise of tons of income and no work. They very often talk about "giving back" and donating their time and money. When you talk like that you sound like those gurus. Sssh. This is a business just like any other. Learn the business, make some money, then do whatever you wish with the money.

Edited: 06/26/2010 at 10:19AM

Jon Holdman, Flying Phoenix LLC