Ideas for novice in real estate

[Sanjay Aggarwal]

Hi

I am 53 years old, what is the good strategy to start for a novice. looking for some cash flow and experience 

[James C.]

SanJay, 

That's the place to start. Look for an experienced person as a guide and offer to help in anyway you can.

Figure out what cashflows. Being an hour or so South of Houston and 20 minutes from Freeport and close to the refuges means you might look at Air BNB or get a bit closer to Houston and see what's up there.

At any rate, start by looking around BiggerPockets,  and see what's going on in your local area. Find a property that you think would be good and work the numbers.  Once you do ~150 on paper,  find one that works and buy it. Work through the issues on that one and buy another.  Lather rinse and repeat until you have enough to satisfy you. 

That should be high enough level to get you started.  This business is  best done by doing not by theory.

Good luck! 

Jim