Where do l start?

Question

Hello! I need some direction with where to go with all this information l gathered from various sites online. I currently have a 9-5 desk job which seems to be going nowhere and l need to create another income stream to eventually replace this one.  I attended Than Merrill's free seminar a couple of weeks ago, l left there feeling motivated and confused all at the same time. I don't have thousands saved to start this either.....any direction will be appreciated. Thank you!

James Vermillion · Answer

If you aren't somewhat confused when you probably haven't put enough thought into it.   The other responses are spot it...education is key to getting a good start in this business and there are quite a few resources to teach you, BP being one of the absolute best.

Stay active on the forums and blogs and as J said, read as much as possible. Also, start learning as much as you can about your local market, because being in touch with market conditions in your area will be crucial as you get started.

And don't worry, things will become clearer and clearer as you progress.  Good luck!

Ned Carey · Answer

The place to start is getting an education, which you can do right here. (you can also check out my blog in the signature below)

I suggest you learn an overview of the various strategies and pick the one that best fits your resources and personality. Since you have little cash wholesaling is a great place to start.

One you know what you want to do I believe one of the absolute keys for new investors is to learn how to evaluate deals and property values. How can you recognize a great deal if you don't know what it is worth.   Good Luck - Ned

James Vermillion · Answer

Susan,

I responded to another thread with some additional information:

http://www.biggerpockets.com/forums/12/topics/83029-where-is-a-good-starting-point-for-real-estate-investing-education?page=1#p503514

J Scott · Answer

Hi Susan,

Congrats on taking the first steps!  And don't worry about the confusion...we've all been there!  The next step is to read, read, read, read, read and read some more...

There's a lot to learn, and if you spend a couple weeks reading (BP is a great place to start), you'll start to get a basic understanding of the industry and can ask questions to help fill in the blanks.

Anson Young · Answer

Being here is a great start for sure.  Education, and finding someone local who is doing what you want to do and pay your dues by learning from them and providing value.  Keep asking questions here!

Susan Mhone · Answer

Thanks James!

Susan Mhone · Answer

Thank you all for taking the time to reply....I greatly appreciate!  :-)

James H. · Answer

If you haven't already, start saving your cash, too, so you are ready to move once you decide what you want to do.

Where do l start?

Most Popular Reply