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Updated over 10 years ago,
Looking for insight (q and a's)
I am currently in the U.S Navy and i have 2 years left on my contract, im 21 years old living in san diego california where i am stationed at. Started this post to see if i could find a mentor, some one who would just be willing to share an e-mail to answer daily questions. my goal is to acquire as much information about real estate before my contract is up and possibly start my first deal, i have never read a book before (i hated reading) till i met a guy making alot of money (not in real estate) but told me no matter what i was to pursue was to always develop myself and take on personal development, since then i have read many books by robert kiyosaki, darren hardy, stephen covey, and john c maxwell. I am now obsessed with personal development. I know i have the mindset for entrepreneurial adventures and am committed. any help and all would be grateful. I hardly know anything about real estate (bought a few books,) or growing a business or stocks but am more than motivated and determined to learn more. Here are a few questions (very basic and probably easy to answer)
1.) Do i need a real estate broker liscence to buy or sell for profits?
2.) What are informative easy-read books for starting out
3.) When you are searching for properties, what are key points to pay attention to
4.) When i get a sum of properties is it possible to start a corporation that owns these properties, and what is an easy way to manage all of these properties, as in are there sort of landlord contractor companies to hire while you are out searching for more properties (managing your time)
5.) how do you calculate the rent a recently bought house, if you were to rent it out and manage your cashflow so you dont lose money (we all want positive cashflow)
6.) What type of real estate is easy to start off with. (paperwork/legal wise) condos/townhouses/commercial/residential/multifamily etc.
7.)How often are matters during transactions taken to court, and what are ways to prevent these (heard alot of stories)