NEW: BP Podcast 66: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael Blank

Hide this

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

1513 topics, 14397 posts — Last Post 04/19/14, 07:22AM

BiggerPockets Exclusive PRO Area

117 topics, 839 posts — Last Post 04/18/14, 05:47AM

New Member Introductions

10887 topics, 85629 posts — Last Post 04/19/14, 07:30AM

Real Estate Success Stories

396 topics, 6155 posts — Last Post 04/19/14, 06:59AM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5935 topics, 46780 posts — Last Post 04/19/14, 07:21AM

Renters

643 topics, 5816 posts — Last Post 04/19/14, 06:12AM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/16/14, 03:58AM

Home Owner Association (HOA) Issues & Problems Forum

237 topics, 1609 posts — Last Post 04/17/14, 08:53AM

Do it Yourself

654 topics, 6264 posts — Last Post 04/19/14, 01:54AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3676 topics, 29456 posts — Last Post 04/19/14, 07:23AM

Real Estate Guru, Book & Course Reviews and Discussions

1133 topics, 11558 posts — Last Post 04/18/14, 11:03PM

Ask About A Real Estate Company

740 topics, 7318 posts — Last Post 04/18/14, 11:52AM

Real Estate Investing

Real Estate Strategies

Wholesaling

5604 topics, 43742 posts — Last Post 04/19/14, 05:32AM

Rehabbing and House Flipping

3333 topics, 30994 posts — Last Post 04/19/14, 06:20AM

Real Estate Development & New Home Construction

553 topics, 4683 posts — Last Post 04/18/14, 10:25PM

Innovative Strategies

703 topics, 6027 posts — Last Post 04/18/14, 08:48AM

Tax Liens, Notes, Paper, & Cash Flows Discussion

866 topics, 6678 posts — Last Post 04/19/14, 06:06AM

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

692 topics, 4877 posts — Last Post 04/18/14, 03:32PM

1031 Exchanges

143 topics, 1054 posts — Last Post 04/18/14, 08:41AM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1686 topics, 11286 posts — Last Post 04/19/14, 05:56AM

HUD, VA, and Tax Sales

414 topics, 3089 posts — Last Post 04/18/14, 12:05PM

REOs

1214 topics, 10570 posts — Last Post 04/17/14, 02:28PM

Short Sales

1534 topics, 13120 posts — Last Post 04/17/14, 04:44PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7201 topics, 70743 posts — Last Post 04/19/14, 06:59AM

Mobile Homes & Mobile Home Park Investing

638 topics, 5140 posts — Last Post 04/18/14, 03:22PM

Investor Basics

Starting Out

7699 topics, 60439 posts — Last Post 04/19/14, 07:17AM

Investor Psychology

431 topics, 6104 posts — Last Post 04/18/14, 06:08PM

General Real Estate Investing

4717 topics, 37190 posts — Last Post 04/19/14, 07:23AM

Real Estate Investor Marketing

1731 topics, 14094 posts — Last Post 04/19/14, 06:39AM

Commercial Real Estate

Commercial Real Estate Investing Forum

1410 topics, 8985 posts — Last Post 04/18/14, 10:17PM

Multi-Family and Apartment Investing

1109 topics, 9226 posts — Last Post 04/19/14, 06:11AM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

641 topics, 4888 posts — Last Post 04/19/14, 07:04AM

Business Basics

Goals, Business Plans & Entities

831 topics, 7562 posts — Last Post 04/18/14, 04:25PM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2785 topics, 20005 posts — Last Post 04/19/14, 05:28AM

Property Insurance

309 topics, 2045 posts — Last Post 04/17/14, 07:41PM

Personal Finance Discussion

328 topics, 2731 posts — Last Post 04/18/14, 04:33PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2832 topics, 19695 posts — Last Post 04/19/14, 02:40AM

Creative Real Estate Financing

1209 topics, 8769 posts — Last Post 04/19/14, 06:24AM

Crowdfunding Real Estate

35 topics, 461 posts — Last Post 04/18/14, 05:17PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1209 topics, 7988 posts — Last Post 04/18/14, 11:30PM

Bankers, Lenders, and Mortgage Brokers

441 topics, 1922 posts — Last Post 04/18/14, 09:39AM

Contractors

268 topics, 1678 posts — Last Post 04/19/14, 03:38AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

1988 topics, 11603 posts — Last Post 04/18/14, 10:42PM

Americans & International Real Estate

161 topics, 566 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

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

Canadian Real Estate

64 topics, 428 posts — Last Post 04/18/14, 04:22AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

15016 topics, 53954 posts — Last Post 04/19/14, 06:35AM

Real Estate Events and Happenings

164 topics, 2506 posts — Last Post 04/19/14, 06:41AM

Off-Topic

Off Topic

Off-Topic

2905 topics, 32409 posts — Last Post 04/19/14, 06:16AM

Housing News & Real Estate Market

914 topics, 8351 posts — Last Post 04/17/14, 08:41AM

BiggerPockets Real Estate Investing Summit

97 topics, 1751 posts — Last Post 04/10/14, 02:27PM

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