Just Getting Started

Dear Bag

I'm getting started in real estate investing and have been reading a lot of books.  My credit is good, and I have some cash to invest but not a lot.   I've just joined a real estate investing association but I need something to get me going.

Any advice?   

Rookie

Dear Rookie:

Congratulations on your decision to get involved with investment real estate.  This decision is not one to be taken lightly.  The most important step is to join your local REIA, which you have already done - this will prove to be an invaluable source of information for you as you journey down the path of making your first investments.  Also, remember that your REIA is a great place to learn and, more importantly, to ask questions from people who are more experienced than you.  This can help you avpid making painful errors that other people have made before you.

Now, as far as getting started, I would take a look at a Single Family Residence, or what is essentially called a 'rental home'.  This conservative investment is easy to manage because:

1) It is in demand by renters, and therefore easy to rent

2) There is an ample supply of homes in the US today of this type, allowing you better chances of finding a superior 'deal'.

3) It is easy to insure and manage.

When you are looking for your first investment, I found that there is a great guide that helps you evaluate properties and try to hit a home run with your first deal - check it out at www.realestatepowercourse.com.  This guide gives you all of the parameters that you need to acquire superior rental proeprty in a low - risk and hassle free manner.

Good Luck!

The Bag