Damsel in Distress
Greetings to you all:
I have been reading through this site for a couple days, I feel even more unknowledgable than I did before hand. I am taking Carton Sheets' course on note brokering... I have read and reread the one book that the course consists of... I think I've learned more about it all just skimming through all of your posts, and info... My story is: I live in DE, I will be getting a lump sum of 14k next month... and that's about as far as I get before I get stumped. I would greatly appreciate any input into what a well-meaning, eager to learn, willing to try, gal should do. Thanks! 
we're glad to help but what are your goals? what do you want to accomplish?
Well, idealy I would like to get into REI, and work from home doing it. I don't know much, but I know that real estate is huge in Delaware, people commute to Baltimore, PA, New York, New Jersey, etc...they are forever building homes here. There is a good mix of money, and low income... I think note brokering would be a good start, from what I got out of the course I took... it requires no out of pocket investment, just connect the investor with the seller and wham! Profit... But where does one find investors? Carolton Sheets didn't touch very deeply on that topic.... Simply put, I'm getting this lump of dough, not a whole lot, but more than I have ever held in my hand at one time, and I want to use it to make more..... I just need direction.
IMHO: Go slow, keep your hand on your wallet, look out behind you! Aaak!
The most dangerous thing for you is that you have F&C cash and will likely be tempted to throw it at deals simply out of frustration, just to get one done.
Approach your investment strategy as if you had no cash until you really know what you want to do and how to do it.
Alternatively you could send me the 14k a month and I'll get back to you and tell you how we're doing.
Welcome to the wonderful world of REI!
Honestly, you do not need a lot of cash to start investing into real estate. I would suggest investing into a course that interests you. The prices in TCI shop are extremely resonable and won't break the bank like many other REI programs.
Many investors will tell you, don't use your money...use other people's money (OPM). There are many ways to make money in REI without using your own money. Examples of OPM are loans, credit cards, investors, etc.
To find investors you need to find a real estate investment club in your area.
http://www.thecreativeinvestor.com/Web_Links-index.html
Go to a meeting and network with other investors. Find out as much info. from them as you can. The more you know, the better off you are in REI. You have to educate yourself. Put your money in the bank until you need it.
Tanya
I am buying and selling cars while I wait on real estate deals to come up to use my own money. Know what. I always finda way to do the rei I want to do without touching my car lot money. I am paying 2 to 3 % per month for OPM and still not using my money. Car business is great too. I am leasing a small lot and 0 overhead and doubling my money once a week or so. Just started this and thinking of borrowing to expand.
Good luck
Thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 78737
512-288-6119
tedstokely@austin.rr.com
I am buying and selling cars while I wait on real estate deals to come up to use my own money. Know what. I always finda way to do the rei I want to do without touching my car lot money. I am paying 2 to 3 % per month for OPM and still not using my money. Car business is great too. I am leasing a small lot and 0 overhead and doubling my money once a week or so. Just started this and thinking of borrowing to expand.
Good luck
Thank you,
Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas 78737
512-288-6119
tedstokely@austin.rr.com