New from Washington, D.C./Northern Virginia

[John G.]

Hello! I came across this excellent site after deciding that I wanted to begin serious investing in real estate. I own four residential properties in the Washington, D.C. area (Arlington, Virginia, to be exact), three condos and one town home, and am looking for ways to invest even further.

My problem is that, given my salary, I really can't qualify for another residential mortgage; and, even if I could, I'm not eager to tie up my money in another long-term buy-and-hold property with relatively modest and slow returns.

By the same token, though, I'm also determined not to sell any of my existing four properties, which are excellent long-term investments. (Right now, I'm doing a little better than breaking even on them, but am banking on their long-term appreciation.)

So, the idea of wholesaling, rehabbing, and flipping has deep appeal to me. That's where I want to go; that's what I want to do. But this is completely new to me! I know enough to know just how much I don't know. Conceptually, I think I understand what's involved; but the nuts-and-bolts and the nitty-gritty are foreign to me.

Looking, then, for a mentor who can help me learn the ropes, identify legal forms and systems, private lenders and buyers, et. al.

Looks like wholesaling is the best and most practicable place to begin since it doesn't require a huge upfront investment, but honestly, I'm not sure exactly where to start. Help! -:)

One thing I am doing is studying for my real estate license. In fact, I'm beginning an onsite course Monday, Jan. 13, and will take my licensing exam right after that, in March. This will give me access to the MLS and help me build up knowledge and credentials/credibility.

I need and welcome your help! Thanks for your time and assistance. I look forward to hearing from you.

V/R
John Guardiano