Tennessean Needs Guidance.

[Richard Bader]

Hello, I am Richard from Tennessee. I work a 8-4 job Monday thru Friday, but my dream is to make a living in Real Estate. I have 4 children so I do not have much money. I started a couple years ago when I bought a 3 bedroom 1 bath house and 15 acres for $20,000. I had a roof installed and mostly hung out with my kids having campfires and just a bunch of fun there. I sold it after the summer because I had a large income tax bill. I sold it for $46,000. Last year I found a 4 bedroom 2 bath house that needed a whole lot of repair for $18,000. I did all of the work my self except for getting a roof put on. I ended up with $38,000 in the place and sold it for $65,000. If I could just find these all the time and could work on them full time I would be a happy guy. Like I said, we don’t have much money but I was able to get completely out of debt except for my current house. I am currently looking for something else. I also would like to rent or lease some property. My problem is I am afraid to make a big investment, besides my time. I look for $15,000 - $30,000 dollars properties that aren’t in the ghetto. I know I can make the payment on a house this cheap. I also am starting to look at commercial property. I know very little about commercial property but I have a passion. I want to own everything. I have since found a commercial building on the main street of a small town. The population is about 18,000. The building is all brick and is connected with a city run building. It has central heat and air, 1200 sq ft, and a restroom. The rest is empty. It needs some drywall and maybe some carpet. I can get this property for $25,000. It seems like such a good deal to me. The building is very attractive on the outside. I would love to buy it and lease it. I know there are a lot of naysayers that will try to talk me out of it. But I want to make it work. I am coming to this site for guidance. I need a mentor. I want to own all the property I see. Can a guy with no college education go from nothing to something investing in real estate? Thanks for your time, Richard