Once you meet some investors at an REI club, you can start out finding leads for them (ie bird dog). You'll soon learn what a good deal is and will be on your way.
Just keep an open mind, stay focused, and learn as much as you can from sites like this!
-Ana
Whether to use a real estate professional might depend on where you are at on your real estate investment journey.
There is certainly times and places where using an agent would be appropriate. But, just like most educations, there is a cost.
So your particular situation would have you asking your need or desire to sell, and possibly why you feel you need someone to handle this transaction.
(Just because you may not use an agent on this transaction doesn't mean you would bypass other professionals such as a real estateattorney to handle the transaction.)
On the other hand, using an agent might be your first step in developing a relationship with one that would have similar investing approaches as you and would ultimately refer you to other profitable investments.
-Read and Research everything you can get your hands on (library and online are virtually free).
-Dont be afraid to spend a few bucks on some books that you will keep and refer to for a long time (there was a list published on another forum recently about 'what people were reading')
-Buy some of the courses that are talked about on this site (these guys are GOOD)
-Use all this info to decide what type of REI you want to do.
-Define personal and business goals.
-Start a company, get a new checking account
-Start your marketing campaign
-Buy and sell real estate
-Dont give up, learn from your misteaks
Here's a response you may not like but it could save you financial ruin.
(This applies in any start-up business, not just RE)
Find some sort of part-time gig to keep your cash flow coming in while you are learning the RE game.
Cash flow is king!
You will be shocked to see how quickly your 50K seed fund will evaporate and having a part-time job to pay the bills will keep you from slipping into panic mode.
Once you do a few deals and the money is coming in, you can bail on the part-time job.
I tended bar three times a week for the first year that my media company was in start-up phase. I could have quit after six months but the networking was just too good.
And I guess unemployment would count but $250 a week isn't much. (But I bet you figured that out!)
buy a home study course (John Locke's and Ron LeGrands) study it and get committed.
Find your local REI group. Start networking
If you want, find a mentor...a good one. Someone that will work with you.
Study
Study
Learn
And then go do.
Once you meet some investors at an REI club, you can start out finding leads for them (ie bird dog). You'll soon learn what a good deal is and will be on your way.
Just keep an open mind, stay focused, and learn as much as you can from sites like this!
-Ana
how do you be come a full time investor, you ask?
Quote:
On 2003-11-24 06:54, hillsdd wrote:
I have approx. 50K equity.
no job....
26 weeks of unemployment left...
you just did it!
Is it best to sell your home through a real estate agent or go for sell by owner?
Whether to use a real estate professional might depend on where you are at on your real estate investment journey.
There is certainly times and places where using an agent would be appropriate. But, just like most educations, there is a cost.
So your particular situation would have you asking your need or desire to sell, and possibly why you feel you need someone to handle this transaction.
(Just because you may not use an agent on this transaction doesn't mean you would bypass other professionals such as a real estate attorney to handle the transaction.)
On the other hand, using an agent might be your first step in developing a relationship with one that would have similar investing approaches as you and would ultimately refer you to other profitable investments.
Hope that helps.
Browse through the article section of TCI. To get into anything full time is a FULL TIME commitment
Suggest reading:
http://www.thecreativeinvestor.com/modules.php?name=News&file=article&sid=401
_________________
Gregg Fous
Investor/Developer
"Developers Make it Happen"[ Edited by GFous on Date 11/28/2003 ]
-Read and Research everything you can get your hands on (library and online are virtually free).
-Dont be afraid to spend a few bucks on some books that you will keep and refer to for a long time (there was a list published on another forum recently about 'what people were reading')
-Buy some of the courses that are talked about on this site (these guys are GOOD)
-Use all this info to decide what type of REI you want to do.
-Define personal and business goals.
-Start a company, get a new checking account
-Start your marketing campaign
-Buy and sell real estate
-Dont give up, learn from your misteaks
Good luck
Here's a response you may not like but it could save you financial ruin.
(This applies in any start-up business, not just RE)
Find some sort of part-time gig to keep your cash flow coming in while you are learning the RE game.
Cash flow is king!
You will be shocked to see how quickly your 50K seed fund will evaporate and having a part-time job to pay the bills will keep you from slipping into panic mode.
Once you do a few deals and the money is coming in, you can bail on the part-time job.
I tended bar three times a week for the first year that my media company was in start-up phase. I could have quit after six months but the networking was just too good.
And I guess unemployment would count but $250 a week isn't much. (But I bet you figured that out!)
-J
Check your Private Message inbox
Hey,
The part time job is a really, really good idea.
I would think a job in a RE related industry would be the best way to go.
Home Depot springs to mind. The contacts and knowledge would be great.
$50,000 in equity?
cash out, lets hit Vegas together.
You go to John Locke's workshop, Ill get drunk and play black-jack.
When is good for you??
Jason
data attack