General Real-Estate Questions

[Anthony Boone]

 I am 32 years old and I have no real-estate experience, but I am interested in learning from others and creating additional cash flow for myself. Below are some questions that I have....

1. How do I start ? ( recommended readings, podcasts etc..)

So far, I downloaded the free guide from the website and plan to read it.

2. For a real-estate beginner what would be the best type of investment (fix and flips, wholesale deals?)

3. Is it possible for an individual like myself with hardly any skill in doing home repairs to be successful in the real-estate market?

4. As an investor what is the best place to search for houses to conduct deals?

5. As a real-estate investor is it a good idea for me to start a small company? (ex. LLC so that I can take advantage of tax benefits)

6. If you find a piece of property that you are interested in acquiring, how would I address the seller? Ex ( Hello, My name is Anthony and I am a real-estate investor interested in your property? )

7. I have read books from the Rich Dad Poor Dad Series and I remember reading about “Tax Lien Receipts” Has anyone had experiences purchasing them? It seems like a great way to acquire a property.

[Ned Carey]

Welcome to BP @Anthony Boone good luck in your investing ventures. We are here to help you get started. 

1. start  right here on BP. There is a ton of info in the forum, free guides, podcasts, blogs etc.
2. It depends on you are your resources, skills, and goals
3. Yes, I don't do any work myself. I pay others to do it for me. @J Scott is one of the most popular members here. He has done lots of rehabs and will tell you he  doesn't know which end or the screw to hit with the hammer. 
4. There are literally hundreds of ways to find deals. I think there is a blog on 100 or 101 ways to find deals here somewhere. It will vary by market. My feeling is  in competitive market look where others are not looking. 
5. There are not real tax advantages to a "Company". Even if you are doing business in your own name you still get to deduct expenses the are "ordinary and necessary" for your business.
6. I usually like to mention why I picked their property. "I see you own a vacant house on Main St. have you thought about selling it?"
7. Tax liens are my specialty. It is a very competitive business and not near as easy or profitable as the promoters would like you to believe.

I can tell from your first couple of questions that the first thing you need,is to learn more about the business and what it takes. Only then can you decide which direction to move.  Keep reading and participating here and it will gradually become more clear.