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Updated over 11 years ago on . Most recent reply

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14
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0
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Jose Vazquez
  • Brooklyn, NY
0
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14
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what would you do if you could start over.

Jose Vazquez
  • Brooklyn, NY
Posted

So my next big step is getting pre approved for a loan and buying my first property to rent. What should I look forward to in the next week so based on what you have learned if youbdont mind me asking. Thank you

Most Popular Reply

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20
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2
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Patrick C.
  • Investor
  • Orinda, CA
2
Votes |
20
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Patrick C.
  • Investor
  • Orinda, CA
Replied

Chris and Jerry provide excellent advice. When I started there were no online sites to gather information and get educated. You have a huge advantage.

If I had to do it over again I would learn more about using leverage and getting all the numbers down (accounting) from the very start. I highly recommend these books:

Retire Rich From Real Estate by Marc W. Andersen

What Every Real Estate Investor Needs to Know About Cash Flow by Frank Gallinelli (He's on BiggerPockets).

Every Landlord's Tax Deduction Guide by Stephen Fishman.

I don't think you need motivational books and seminars. They are a waste of time and valuable money in my opinion. Don't be fooled by the fast-talking gurus.

You got your priorities right. Focus on the practical skills that will make you money. One last tip is investigate the hell out of your tenant applicants.

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