Trying to do this right, but it is very hard

[Antonia Willis]

There are so many different ways to attack REI and it becomes very discouraging. This site helps so much, but it can even be overwhelming for a newbie like myself to even know where to start. I don't really have anyone to guide me in this process so I am extremely nervous. REI is expensive and I don't know where or how to start the process to put myself in the position to get a property. I am in the Norfolk/VA BEACH area and I really want to get started in this REI process, but I am so lost. There are so many questions I have like how do I know its a good deal, what should I be asking the seller/agent, if its a short sale is that more difficult than just regular buying and fixing up? There is a property here in the Norfolk area that my agent told me was a steal. Its a triplex and already has tenants who don't want to leave. It is a short sale, and the seller is asking 118K, but even if I say 90k I still think that's high for my first property and how in the world do I even acquire this property or know what in the world I'm talking about or listening for? Any and all help is sooooo appreciated!

-Lost Navy Girl Antonia

[David Bokman]

The best piece of advice I can give you is to narrow down what you want to do in real estate. Investing is just a general term, do you actually have money to invest? Are you looking to wholesale? Fix and Flip? Buy and Hold? All 3? If you don't know what those terms mean than you need to start by learning the difference between all three. Once you understand that, you will better understand which path is best for you to start with. As for question about how to know what properties are worth, that only comes with experience and teaming up with someone who understands YOUR local market. I suggest to try to "be-friend" a local real estate investor friendly realtor who's willing to help. You should also go to your local REI meetings and network with people in your local area.

Best of luck...