Comments on: 8 Steps to Starting Out In Real Estate Investing

By: Joshua Dorkin

Joshua Dorkin — Sat, 03 Jan 2009 15:23:20 +0000

Lilla – There are two “best” ways to network with successful investors that I’d recommend.
1 – Sign up for BiggerPockets.com and you’ll be in a community of tens of thousands of them
2 – Join your local real estate club. These clubs will have a ton of newbies, but you’ll note that there are also plenty of successful folks there too!

By: Corey Donahue

Corey Donahue — Mon, 29 Dec 2008 17:55:30 +0000

Rosie, Great article, it’s too funny that you use “in the trenches” in #1, that’s the name of our seminar series committed to bringing in speakers that are actually “In the Trenches”.

By: Andrea

Andrea — Sat, 20 Dec 2008 15:57:19 +0000

Rosie~
Great article. Very informative. Right now, probably more then ever…there seem to be literally thousands trying to be a part of the real estate investing world. People who never dreamed of getting involved are now obsessed. As you said, one needs to really perform their due diligence and become educated otherwise I think we’re going to hear about many people losing rather then gaining on these REO, Short Sale & Auction purchases. The best thing anyone can do is exactly what you said….Learn from someone. Find someone who is experienced and involved and do offer to be there “intern”. Do anything for them you can just to gain the knowledge. I’ve just started and if if you were in the Bay Area….I would certainly offer to be your intern!

By: Ryan

Ryan — Wed, 17 Dec 2008 23:10:47 +0000

@Diane – Where does the 20% gain come from? Just the fact that you refinanced? I don’t get it.

By: Michael Smith

Michael Smith — Wed, 17 Dec 2008 20:56:25 +0000

Great post Rosie.You certain hit all points people need to think about before they start in this business. I only wish I read this article two years ago before I purchased my mentoring program. Thankfully I have over come that.Real Estate is simple but not easy.Michael Smith’s last blog post: How Can One Person Run A Real Estate Empire?

By: Diane Menke

Diane Menke — Wed, 17 Dec 2008 14:04:21 +0000

Thanks for this post Rosie.

I do some RE and I own a small remodeling company. I can’t tell you how many times I hear people say “I wish I were in business/self employed” or “I will do RE someday”. A lot of these folks are other people in remodeling, a business that puts you in perfect alignment with RE.

It reminds me a lot of when the stock market was all hot and bothered and the bro in laws were posturing over their Nokia stock. Snore. Neither one of those 2 wanted to talk about the boring fundamentals that make a business work. The hard work that goes into being prepared to do well. Like most folks they wanted that get rich quick scheme.

I haven’t done a lot of RE but what I have done has worked out very well for me. I can’t understand why someone would buy a CD for example when they could put that cash into a rental house and refi it out in 18 months with 20% gain tax free.

Thanks for your blog
Diane

By: Rosie

Rosie — Wed, 17 Dec 2008 06:14:54 +0000

Thanks so much! It is really so true isn’t it? There is just no sugar coating this one point. Work hard – or go home.

Thanks for your support!

By: Rehab702

Rehab702 — Wed, 17 Dec 2008 02:42:41 +0000

Great job once again Rosie. I especially like #8. Here is a quote that I particularly like from Coach K of the Duke Blue Devils: “Make a distinction between being interested and being committed. When you are interested in doing something, you do it only when it’s convenient. When you are committed you follow through – no matter what – no excuses.”