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Updated over 8 years ago, 08/16/2016

Account Closed
  • Future real-estate investor
  • East Selkirk, Manitoba
25
Votes |
74
Posts

Insight on starting out?

Account Closed
  • Future real-estate investor
  • East Selkirk, Manitoba
Posted

I'm in a dilemma and I'm not sure what to do.

I'm interested in buy and hold, residential properties to achieve my goals of $2000 cashflow and $4000 cashflow after that.  I have pursued other areas to achieve these financial goals like network marketing and financial advising, but I truly believe that real-estate investing is my ticket.

I have gone to all local real-estate investing groups in my area and found a few options, but I'm unsure of what to do.

Option #1 - Trial and error.  Become a bird-dog and network with as many investors as possible.  Take these leads and see what I can do with them.  If I can finance it myself, do it.  If not, do a joint venture.  If not, sell the lead.  Keep bird-dogging till I can make my first deal and figure everything on my own.

Option #2 - Cash reserves + mentorship.  Save $5000 and earn $1000 a month for membership with a local, veteran investor.  Start a small business + work to reach these numbers.

Option #3 - Mentorship program - Investing program designed and teached by veteran investors from a local real-estate investing group.  Each of their students have become "big fish" in the area.  Costs $9000-$10,000

Option #4 - Mentorship program - Same thing, but with Stephan Aarnio(big, BIG fish), costs $10,000+

Option #5 - Go to school, give up on goals, and live the employee life.

I was thinking of doing both option 1 and 2 at the same time, but I'm not sure.  Any suggestions and insight in much appreciated!