From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.

BiggerPockets

General Info

BiggerPockets Q&A, Site Questions, & Announcements

1525 topics, 14455 posts — Last Post 04/24/14, 08:12AM

BiggerPockets Exclusive PRO Area

117 topics, 841 posts — Last Post 04/23/14, 08:28AM

New Member Introductions

10987 topics, 86590 posts — Last Post 04/24/14, 08:00AM

Real Estate Success Stories

399 topics, 6214 posts — Last Post 04/24/14, 07:46AM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5993 topics, 47229 posts — Last Post 04/24/14, 07:58AM

Renters

650 topics, 5863 posts — Last Post 04/24/14, 07:43AM

Get Foreclosure Help - Help Stop Foreclosure Forum

317 topics, 2561 posts — Last Post 04/23/14, 08:28PM

Home Owner Association (HOA) Issues & Problems Forum

238 topics, 1611 posts — Last Post 04/23/14, 04:02AM

Do it Yourself

659 topics, 6320 posts — Last Post 04/24/14, 08:05AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3713 topics, 29770 posts — Last Post 04/24/14, 08:09AM

Real Estate Guru, Book & Course Reviews and Discussions

1139 topics, 11603 posts — Last Post 04/24/14, 07:05AM

Ask About A Real Estate Company

743 topics, 7344 posts — Last Post 04/22/14, 11:25PM

Real Estate Investing

Real Estate Strategies

Wholesaling

5640 topics, 43973 posts — Last Post 04/24/14, 08:13AM

Rehabbing and House Flipping

3354 topics, 31109 posts — Last Post 04/24/14, 07:10AM

Real Estate Development & New Home Construction

554 topics, 4695 posts — Last Post 04/24/14, 06:22AM

Innovative Strategies

705 topics, 6044 posts — Last Post 04/22/14, 04:06PM

Tax Liens, Notes, Paper, & Cash Flows Discussion

868 topics, 6694 posts — Last Post 04/24/14, 08:03AM

Rent to Own a.k.a. Lease Purchase, Lease Options

699 topics, 4947 posts — Last Post 04/24/14, 07:32AM

1031 Exchanges

143 topics, 1062 posts — Last Post 04/22/14, 03:21PM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1691 topics, 11313 posts — Last Post 04/22/14, 09:26PM

HUD, VA, and Tax Sales

416 topics, 3103 posts — Last Post 04/23/14, 02:29PM

REOs

1217 topics, 10604 posts — Last Post 04/24/14, 07:13AM

Short Sales

1539 topics, 13154 posts — Last Post 04/23/14, 08:25PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7253 topics, 71209 posts — Last Post 04/24/14, 08:05AM

Mobile Homes & Mobile Home Park Investing

639 topics, 5146 posts — Last Post 04/24/14, 05:13AM

Investor Basics

Starting Out

7733 topics, 60694 posts — Last Post 04/24/14, 07:10AM

Investor Psychology

432 topics, 6110 posts — Last Post 04/24/14, 07:56AM

General Real Estate Investing

4730 topics, 37327 posts — Last Post 04/24/14, 07:57AM

Real Estate Investor Marketing

1739 topics, 14152 posts — Last Post 04/24/14, 08:02AM

Commercial Real Estate

Commercial Real Estate Investing Forum

1413 topics, 9013 posts — Last Post 04/24/14, 12:59AM

Multi-Family and Apartment Investing

1123 topics, 9397 posts — Last Post 04/24/14, 06:46AM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

645 topics, 4913 posts — Last Post 04/24/14, 05:42AM

Business Basics

Goals, Business Plans & Entities

834 topics, 7588 posts — Last Post 04/24/14, 07:15AM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2802 topics, 20136 posts — Last Post 04/23/14, 06:57PM

Property Insurance

311 topics, 2057 posts — Last Post 04/23/14, 01:20PM

Personal Finance Discussion

330 topics, 2754 posts — Last Post 04/22/14, 12:06PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2852 topics, 19849 posts — Last Post 04/24/14, 06:22AM

Creative Real Estate Financing

1221 topics, 8861 posts — Last Post 04/24/14, 07:55AM

Crowdfunding Real Estate

35 topics, 463 posts — Last Post 04/19/14, 06:24PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1217 topics, 8036 posts — Last Post 04/24/14, 08:09AM

Bankers, Lenders, and Mortgage Brokers

442 topics, 1931 posts — Last Post 04/23/14, 09:04PM

Contractors

269 topics, 1690 posts — Last Post 04/22/14, 07:33AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

2017 topics, 11758 posts — Last Post 04/23/14, 10:03PM

Americans & International Real Estate

162 topics, 572 posts — Last Post 04/24/14, 03:31AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

66 topics, 440 posts — Last Post 04/24/14, 05:54AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

15085 topics, 54138 posts — Last Post 04/24/14, 08:03AM

Real Estate Events and Happenings

168 topics, 2608 posts — Last Post 04/24/14, 07:25AM

Off-Topic

Off Topic

Off-Topic

2907 topics, 32447 posts — Last Post 04/24/14, 07:23AM

Housing News & Real Estate Market

920 topics, 8391 posts — Last Post 04/23/14, 02:43PM

BiggerPockets Real Estate Investing Summit

97 topics, 1752 posts — Last Post 04/23/14, 04:51AM

BiggerPockets Resources

Forums » General Real Estate Investing » I need some advise

I need some advise

4 posts by 4 users

Signup

Real Estate Investor · Los Angeles, California


Hey all,

I've been reading up on real estate investing for a while now and i was just about getting ready to purchase my first residential property. However, I am at a dilemma at the moment - and due to the lack of experience i hold, i would appreciate any advise from more experienced investors.

I found out yesterday that I didn't get approved for any loan. All the research and work that I've been doing has been directed towards this kind of a purchase and now that the loan is not working out, I am a little stuck here. Without the loan, I don't know what direction to take as far as investing in real estate. At the moment, I have $24,000 cash to work with. I've been considering going to the tax defaulted property auction that i mentioned earlier and purchasing from there, but do you have any other suggestions of what else I can do from here?

I appreciate your advise

Emil



Real Estate Investor · Rochester Hills, Michigan


Find investors or homeowners willing to sell you a house on a land contract or lease option and then rent it out for more - that is an option since you have some cash.

You can also do a Sub2 deal - find deals for other investors to buy.

Lots of things you can do without getting a loan. Not easy or quick but doable.



· Redlands, California


Hi I was wondering if you got the advice you needed to get started? :)



Real Estate Investor · Oklahoma City, Oklahoma


You seem to focusing on the resource you don't have - financing from this one particular lender - instead of focusing on all the resources you do have.

Also, the question of "what deals can I do?" is probably not the most relevant for your situation.

I think you ought to focus and get really clear on your outcome. What is the result you want? Is it passive income from rentals, a few good paychecks from flips?

Starting in real estate is like planting a crop. You need to plant the right seeds and focus on growing that crop. Focus on what you want, and don't allow yourself to get distracted by every new cool sounding technique that comes along.

If you don't focus all your energy on taking care of the crops you put in, you are totally wasting the resources you do have. You've got to focus on that crop until you harvest time.





Sign up