Hello all!

[Account Closed]

I'm a new member looking forward to learning a lot. I used to have a section 8 property years ago. Wish I hadn't sold it as it would have been paid off by now and still returning probably about $800 monthly by now...ah well, will be starting new now. So many different ways to invest in real estate. The hard part is deciding which strategy to use..

[Michael Lee]

    Hello and welcome to BP!  This is a great site for learning and asking questions and get responses from people that have allready been down that road.  Probably the best ways to get started depending on your cash level is to wholesale or do Fix and Flip.  They are both considered short term actions that can get you a bunch of experience.  The first things you probably should do is to set up your company and get/find a local Team.  By using some type of corporation will save you personally.  The main Team members are Attornies, Real Estate Agents, CPA's (or accountants), Inspectors, GeneralContractors, And Handymen.

Always do the analysis numbers so you can tell if you have a good deal, and try to look at the subject property before you make an offer or at least have a clause in the sales contract that will allow you some inspection time (usually 15 days) and let's you possibly walk away from the deal without a penalty that exceeds your earnest money amount.  Right after you close on a deal change the exterior door locks on the units.  If the locks you took off are still in good shape just install them at another address.

I am 59 years old and I found BP about 8 months ago and I am still trying to decide what to do while I recover from my brain annurism and stroke.  I also went to college, not that it is mandatory, and I graduated with a business degree that emphasized real estate.  Since I was in Texas and planned on staying there I found out that I was qualified to take a real estate broker test without having to take anything extra so I got the license.  Regardless of what I had I felt more comfortable with the construction business.  I have been in the construction business since I was 17 including those college years.  My father has been in real estate buying and selling deals about 40 years and he has taught me a little bit.  If you think that I can help you out please contact me through BP at any time.  Good luck to you!