Newbie from California

[Jose Zepeda]

Hello I'm a complete newbie to real estate investing. Looking forward to starting a new chapter in my life in building my wealth and meeting new people. My primary goal is to buy and hold rentals for cash flow. But  I'm interested in other aspects of real estate investment.

[Jay DeCima]

Jose

Don't spend time looking at too many kinds of real estate investing.

I post the following to a newbie last week. Hope it helps.

post:

If you are a newbie without a plan, I refer to that as ......you become a "wandering generality".

Read real estate books, get an idea of the type of real estate you may be interested in. Then find out the best mentor for that type of investing. Then tap into that mentor. Google several mentor names and see what you find. How many pages pop up?

I like all kinds of investing and have done most kinds. But starting out, I suggest you focus on one thing............getting cash flow as fast as you can without starting with a boatload of cash. 

I will also be posting weekly to my new BP blog.  Hope the ideas help.  With 40+ years of experience, mostly with long term buy and hold properties, I have a little to say on the subject.

One huge bonus you have, with my kind of buy and hold properties, is what I call "PAJAMA MONEY". I can sell my houses (I buy groups of houses on a single parcel, 5-12 small homes) and take back the financing when I sell.  I become the bank and can go to my mailbox at the beginning of the month, in my pajamas, and pick up the mortgage payments.......made out to ME. Can't do that with all kinds of properties.

Good luck Jose.

Fixer Jay DeCima