Starting out in New york??

[Eric M.]

Is possible to start Real Estate Investing in NY With good credit but low low funds?

[John Hickey]

Eric M. Well it won't be easy, but for me I can tell you that it's worth doing.

Do you want Multi family or single family? Do you have kids that have to go to public school or no kids or you can do private school? These things come into play in a big way.

Can you live in a rough area....say east NY or parts of Jamaica?

I like Jamaica long term. I really like east NY. If you could get state some concrete goals it would be easier to assist you. As for mentoring ask for help, listen to advice and discard what you don't like, once you see someone that's got what you want ask them for help.

Do you have a good salary? Are you saving?

I was talking to a young investor the other day and I asked him what his plan for saving was. He said first he needed to pay his CC off BC he put 3k in tires and rims on his older M3 BMW.

At that point I said to him take a look at my car what do you think?

He said my car is a junker. That's true. I drive a beat up Camry with 200k mikes. I then pointed out to him that I own a few houses free and clear and I am purchasing 36 units with more than 50% cash, right now.

I've never owned a new car. I used to travel a lot though. 100k miles a Year. That was my weakness, that and I ate at restaurants a lot.

I then told him that if he keeps it up with the cars he can be sure he'll always struggle.

The point here is that people with a job that struggle financially most likely have a weakness. Find that weakness. Discard it. Set some goals make that happen.