IAM A 41 YEAR OLD MALE AND I LIVE IN LONG ISLAND, NY. I HAVE A JOB MAKING GOOD MONEY, BUT IT'S A DEAD END JOB, I WILL ROT HERE TIL I AM SIXTY FIVE.I HAVE THREE CHILDREN SO I NEED THE BENEFITS AND THE STEADY PAY-CHECK RIGHT NOW.MY JOB IS BORING AND I AM VERY UNHAPPY , I DON'T WANT TO SIT BEHIND THIS DESK FOR THE NEXT 24 YEARS. I AM A HARD WORKER BY NATURE AND I UNDERSTAND IT TAKES A FEW YEARS TO MAKE MONEY IN THE REAL-ESTATE MARKET BUT I REALLY WANT TO KNOW THE BEST PLACE TO EDUCATE MYSELF ON HOW TO GO ABOUT THE WHOLE PROCESS,LEARN TERMINOLOGY,WHERE TO BUY , WHAT TO BUY , AT WHAT PRICE, WHAT TO LOOK OUT FOR, WHO'S WHO AT A CLOSING, how do taxes fit in ?? etc,Can anyone give me any advice on how to get started here , maybe do this as a side business and gradually expand??I APPRECIATE ANY HELP, THANKS ....[/b]
coincidence, i live on LI. tough market now for flipping and the like.
anyhow, i feel you brother. rei is very overwhelming. once you get into it and begin to understand it, you'll be able to make good decisions that you are comfortable with.
people are ALL DIFFERENT. there are some guys that will tell you it doesn't take "a few years" to make money in real estate, but maybe just a few months! and they're right!
however, that is them, you are you. keep coming to these forums and check out other sites as well. read read read. you've got a job, and kids, bills and a life - so it can be tough to manage. but if you want to become a real estate investor/businessman - then you have to put aside time EVERYDAY, (cept Sundays - God rested that day too...and FOOTBALL'S ON - GIANTS SUCK!!!...sorry bout that...tourette's)
anyway, keep in touch. and if you want a place to start - check out "wholesaling" and "contract" agreements. also, look at yourself, your talents and strengths, draw on them. take a look at where you might be weakest...financing? communicating? basic business knowedge? etc. better yourself in these areas.
good book to read - Rich Dad, Poor Dad - Robert Kiyosaki - it's BASIC, BUT FUN TO READ.
You're at the right place to start learning. Take some time and start reading the forums here. There is more then enough information to keep you busy for many days. Once you start to digest things, many of your answers will be answered. If you have additional questions, let us know.
I also recommend that you check out some local real estate club meetings. You'll get to network with investors and learn as well.
It takes some time to get moving, but once you do, it gets exciting! Good luck and welcome to the site.
BTW - POSTING IN ALL CAPS IS CONSIDERED SHOUTING. PLEASE DON'T DO IT!
My advice mirrors most folks' responses. Be a sponge and soak it all in. There's a ton to learn and you can easily be overwhelmed, but just take your time and take notes.
There are only a handful of ways to make money real estate. It's not rocket science and the math is 5th grade level at most.
The biggest challenge in real estate is getting it going, and actually making the moves. There are a ton of people who have mastered the know-how on how to make money in real estate by buying every course available, but yet do nothing.
I'm on the financing side of things, so if you have questions, please feel free!
start with something that can give you a chance to see how the numbers work.
you have to have nuts in this game or you'll be kicking yourself in the *** a lot!!!!