Newbie from Illinois -- Lisle

[Jeff B.]

Hello ALL,

I located this website by performing a Google search on Fortunebuilders.com to get the low down on the company. I just read about the $20,000 pitch for a coaching program. I went to one of the 1 Day Seminars in Chicago (July 7, 2016). I knew their pitch was too good to be true. 

I am glad came across BP. I am hoping I can learn how to flip homes and gain knowledge from all the experienced REI. I carried my Real Estate license in ILLINOIS back in 2002, I think! I may be off a year.

I'm trying my hand at real estate investing. Where should I start? Do I go back to get my license or forget about it. I am a slumlord right now. I have been screwed twice by my last two tenants, who collectively has costed me $27,000 -- that is another conversation for another day.

Where should I begin? I am educated. I hold an MBA. I understand business and finances, but I have had my share of bad luck and poor investments, resulting in poor credit. How do I purchase properties with bad credit?

Any insight would be greatly appreciated,

jeff

[Jerry Tuzil]

Jeff,

There are good wholesalers/lenders to partner up with without the high price tag in your back yard. they will even work with people with less than good credit and not much cash. Getting your license is a good start but you can find properties without it. In my opinion, what most people do not realize is that you have to build a good team around you that can take up the slack of your shortcomings and help you along the way. Not all of us know everything about investing in real estate. 

Jerry