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6) Where should I look to learn more about real estate law to protect myself or become aware of potential nightmares?

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Just DO SOMETHING NOW. Before I can do that I figure I can ask, get educated, and reduce my risk of making a stupid mistake during these hard times.

to start investing, I want to start ASAP. I know . I know . Just DO SOMETHING NOW. Before I can do that I figure I can ask, get educated, and reduce my risk of making a stupid mistake during these hard times. Nike Black Tech Fleece Hoodie I am in the mortgage business. I am not really a handyman or know much about the labor involved in fixing properties. I am more of a numbers guy and making deals work.

Advice from Mentors

3. I would stongly suggest managing and maintaining the property yourself. It makes a huge difference in the spendable money you receive each month and is good experience.

3) Would you suggest hiring a management company or manage the properties yourself in the beginning? If there are tenant problems I want to learn how to resolve those issues. Is it better to hire a management company or learn on my own.

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6. Google your state tenant landlord law.

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5) Should I start an LLC before I start purchasing properties?

5. Yes, start your LLC before you buy any property.

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to my Realtor every week as he was the only other real estate investor that I knew.

Here are several questions I have to mentors:

1. I would strongly suggest starting with SFRs. The tenants tend to be a little better and SFRs are easier to sell if you decide this business isn for you.

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2. I stay away from multi unit buildings that have utilities paid by the owner Nike Hoodie Fleece

4. Focus on whatever will generate a positive cash flow. That is usually lower middle to lower class rentals.

I afford to make costly mistakes in the beginning and I just want to get advice as to how to start. I, like most of the other new people here, am building a " team" . I have assembled a appraiser, Realtor, title company, and lender. I am still looking for the missing pieces.

Keep in mind that you may need some members of your team all the time and other hardly ever. Even with 28 properties, I talk to my attorney every 18 months, maybe. I talk to my accountant about quarterly, but I talk to my mortgage guy every 2 weeks. When I was a new investor, I talked Nike Dri Fit Jacket Mens Running

4) What areas should I focus on? (section 8, low income, mid income)

and any buildings in a war zone.

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I do not have any investment properties and I really want to become an investor. Other than the usual fear, lack of cash and uncertainty of how Nike Black Jacket For Man

I guess my point is to not get to stressed out trying to fill out every last position before getting started. Some people will come onto your team when you need them for the first time.

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You are absolutely right. If you want to succeed, you MUST learn the business before you buy anything. The fact is that the majority of newbies fail in a short period of time. They fail primarily because they don understand cash flow issues and they don know how to deal with tenants.

Here are my answers to your questions:

Thanks in advance for your advice,

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