Real Estate Investing

[MilDollar]

How do I get started? I know you have answered this question a thousand times. But for the last ten years I have been wanting to get started. I have gone conferences, seminars, and of course the books from the authors. I am serious!

[Mdhaas]

What area of investing do you want to get started in ? flipping, rehab, short sales?

[MilDollar]

Hello! Sorry it took me so long to get back with you. I would to start out with rehabbing but most importantly renting out. What are short sales exactly? I do remember studying that and it sounds like an area in which I would like to start. But I do have to tell you before hand that I do not have any cash or good credit! Could you point me in the right direction?

[Mdhaas]

What are short sales exactly?

From REI Club Investing Glossary;

Short Sale - A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes.

If you are working with little to no money and poor credit you are going to need to build up some funds.  You might try bird dogging or find a partner. Visit your local REI club and get to know some of the investors.

[MilDollar]

Thanks for your reply. What is bird dogging?  Sorry! New to the REI forum
And also, once I get going, do I need to work with a real estate agent in order to help me find/purchase a home to invest in? 

[Mdhaas]

Don't feel bad. The only stupid question is the one that you do not ask. A bird dog is someone who identifies a potential real estate investment opportunity and passes that deal on to another investor for a fee.

If you use the "search" function, at the top of this page under the banner ad, you will be able to uncover a wealth of first hand information about pretty much any topic.  Even some non-REI topics.

 

[elitejones]

Real property is typically considered to be Immovable property.The terms real estate and real property are used primarily in common law, while civil law jurisdictions refer instead to immovable property.Thanks for sharing views regarding investment.

[loverealestate]

You have what most people have fear. The paraylses of analyes.

Study for years while everybody else makes money.
If you are afraid to lose don't gamble. Investing is a gamble.
Winners invest, make money lose money that's all part
of having the courage of your convections.

if you have been studying all those years, no gaurantee of sucess
is going to fall from the sky on your head.

Do or don't do. Stop being afraid. Don't stop asking questions.
Losers are always watching winners win.

Go win. Make mistakes like everyone else, and learn from them and keep going.
Real Estate investing is not rocket science.