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Updated almost 11 years ago, 01/15/2014
Newbie without a game plan...guidance needed!
Hey everyone! I am so looking forward to absorbing all of the wonderful information provided by you fine folks here on BP! I've been wanting to invest in real estate in one way or another for years now. I got very excited when reading about the great opportunities to be had with mobile homes, and then quickly discouraged after learning about the SAFE ACT. Its not that I'm unwilling to play by the rules, I'm just unsure if it would still be worth it as someone just starting out. Would there still be room for mistakes, ahem, learning opportunities? And what if I get the help of an attorney or MLO who thinks they know what they're doing but don't? These are my fears.
My present goal, as someone doomed to $11/hr jobs, is to become financially independent, and then see where it takes me as a business. I guess my biggest question is what are some other investment options that do not involve lots of cash? I currently have just under $5000 saved (not including $1000 for an emergency fund) and am putting away about $300 every two weeks and I'd really like to invest this somehow.
I live in Kansas now, and have plans to move to the Coachella Valley in CA in a few months. If I don't find a way to invest when I move, I'll have to use some of this money for rent. Before I get an uproar about my move, I've lived in CA (Orange County/Long Beach) before and will definitely be staying there permanently.
I am open to being a landlord(I currently work as a leasing consultant) and just about anything really. I don't know much about wholesaling, tax liens, etc. I would just like some guidance as to where I could/should be focusing my energy!
Thank you so much!