Newbie from Memphis

[Tonya Cox]

Hi,

My husband  and I have wanted to do something with real estate for several years now but had never pursued it. We attended some real estate training weekend a few weeks ago and learned a lot but knew that there is so much more to learn. 

While researching the education system they were trying to sell I came across this site.  I am so thankful I did. I have learned so much and finally believe we can do this successfully without parting with 20-50k. 

We both have W-2 jobs and have started our real estate education here reading articles, listening to podcasts and reading books. 

Our plan is to start with rental properties (single family and multi-family).  Initially, I wanted to start in the area around the university.  The properties are inexpensive and the rents seem high, but that was my perspective without the education.   I'm currently reading "What Every Real Estate Investor Need to Know About Cash Flow" as a result of listening to a  cash flow.

I'm also reading everything I can find about self directed IRA/401k. I would like to use an old 401k from an previous job to help us get started. I haven't figured that part out yet.

Any advise or direction is welcomed and appreciated in advance.

I'm so glad I found this site.  I'll be "seeing" you guys often.

[Paul Timmins]

@Tonya Cox

Welcome. 

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul