I am new to this site. Been looking at real estate investing from the outside and now wanting to start. I did have a couple of rentals but didn't make much because I didn't do it right. Took time away and now looking for some good starting advice. Here's my current situation: terrible credit, no cash, no contact's either. I take it the first thing to do is join the local REIA and concentrate on wholesaling. What else should I be doing? Any suggestions would be much appreciated.
I just ran an analysis for someone that was in the same position. The starting point was doing a few Wholesale deals to get them in a cash position, followed by a few partnership deals that brought in a limited accumulation of cash flow. Next step was an equity buy in position or two, (keep in mind the first two steps continue to generate income) followed by a few flips.
Now, the credit and cash positions are improved to move forward collecting all cash in, refinanced, deals until....?
No cash, no credit, no knowledge, ins't a problem...that can't be solved with a plan.
Howell isn't that far from AA. Come join us at our REIC this coming Tuesday...you won't regret it.
Howell has that really nice outlet mall, Tangier I think? right? and @Rob Whitfield Joe knows what he's doing. I'm on the other side of the country and wish I lived in MI just to be closer to the group.