hey im 14. can u tell me GENERALLY about investing real estate? i read the meaning but i still cant understand.and whatsup with the lawyers, landlords etc?i read 'rich dad poor dad' but not yet finished.my dad said i should be invester just like trump maybe someday. im good with maths, i could be an accountant.
web search up wholesale real estate and L2P. good profits with no cash investment
I am very impressed that you take this seriously enough to research. I would recommend two useful books to expand your knowledge and get two additional, fairly conservative viewpoints. The first is titled Building Wealth One House At A Time by the author John Schaub. It has helped me in my investing career. The other is titled Real Estate Investing From A to Z by the author William Pivar. This one is a general purpose knowledge resource. If you are patient and consistent with your goal of owning investment property, you will be rewarded for it in the long run. But just be warned, this is not a get-rich-quick business. It takes hard work and there will be downs along with the ups. Good luck and let us know how your investments turn out!
Rich Dad, Poor Dad is fictional. Only invest when you have the money... you will lose if you dont do your homework first! Shows like Flip that House dont show alot of other real life factors involved... If you have liquid cash, then investing in real estate is good. If you have to finance, you are taking a big risk Best regards in your venture if you decide to go that route there are some good forums out there too join an investing club in your area to learn from seasoned veteans, and surround yourself with the knowledge before jumping in.
To be a real estate investor you will need to know lots of things. Most people think of investing as buying a home, fixing it up, and selling right away. Sometimes, especially in the current housing market, it won't sell right away so you have to figure out how to still make money with it, like renting it out or selling on contract (sort of like renting to own). There is also commercial real estate which is a completely different animal. It typically requires more up-front money, but some say there is better potential for profit. Consider this... buying an apartment building. If you lose one tenant, you still can be profitable - investing in a single family home if you lose one tenant, you make nothing. All these different options have their own laws and regulations, and you need to keep up with that. What helped me the most, and what I strongly suggest, is getting a real estate license. It's a great way to keep up with real estate laws, and you are familiar with the acceptable contracts in your state. Keep reading and keep studying. It's really a fun profession when you know what you are doing. Good luck!
