Is it possible to start collecting renthouses while working a trade? Im a floor layer and im trying to pick up a part time job if i get the part time job i should start making around 800 a week. Is that insufficient to take on a journey like real estate?
It is difficult to get into the investment game now as most lenders want to see experience in being a landlord.
Most real estate investors get involved in investing in real estate on the lower rungs. They would purchase a cheap property that is in need of repair. Fix that property up and use it as a rental or flip it so as to have sufficient funds to repeat this over again. Keep in mind that ole uncle Sam is taking a look at your income, so make sure you immediately place some stock in keeping at least one of the flips as a rental to offset your investment income in paying taxes. You would want to do the following in order to be successful in doing real estate investment #1. Books Purchase or read as many as many books as possible about real estate investment, the type properties you would or should purchase. These books would give you theory about real estate investments #2. Real Estate Investment group You would want to join the local real estate investment group. This group would verify the theory you are learning from reading the books as most of the investors you meet would have experience in most phases of real estate investing. Normally you would be able to attend a few of the meetings prior to joining. You would be required to pay for the cost of a meal. Normally the cost to join is not that much. You would need to google for this group followed by the city and state in which you reside. I hope this has been of some benefit to you, good luck. FIGHT ON
