mentor

5 Replies

I was always interested in REI (wholesaling) reading books "how to be a real estate investor ,learning as I read along .A little nervous to go out on my own afraid to screw up ,really need a exp. mentor to got out with in my area so i can learn as we go and get familiar with the business . Any exp investor in the Oxford ,Pa area thats willing to train me the ins and out of this business.

@Tony Rosa 

You are in the best place on the web for information.

What do you want to do in the world of Real Estate Investing?

I'm a "Buy and Hold" investor focused on 2-4 unit properties.  I require my deals to get me 20% cash on cash return and cash flow $125/door/month.  I'm a licensed MA realtor with plans to take the VT license in 2015.

That statement has been molded over the past 10 years, but it holds true for the most part. I've looked at doing practically everything in REI, but have focused on my 2-4 unit wheelhouse.

But the first thing you want to do is find something to focus on.  Do this with the understanding that you might not like it.  Then work on things until you find something that really works with your mentality.  Conventional investing puts you in charge of a growing number of units, signing leases and chasing monthly rents.  Non conventional, edge case investing might have you co-brokering title searches for foreign money on distressed properties in major US cities... I don't know if the last thing is a "thing" but it might be and you might be the one to discover the gold mine.

If you are broke, set a budget and save some money.

If you have some money, start looking for ways to reduce your expenses and/or increase your income (house hacking is a good first step)

If you have a large amount of money, start cruising around BP and find something that peaks your interest.

@Aaron thanks I really trying to focus on wholesaling ,I don't have a lot of cash . I was hoping to find a mentor to see how it's done I can learn quicker watching .

thanks J Scott

Originally posted by @Tony Rosa:

@Aaron thanks I really trying to focus on wholesaling ,I don't have a lot of cash . I was hoping to find a mentor to see how it's done I can learn quicker watching .

 A good mentor can.  Look for one that does wholesaling...not just talks about it though.

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