Where to start

[John Thies]

I'm needing a place to start. I have selected the areas I would like begin my investing. I would like to mail some letters out but not exactly sure how to go about this process. As for what kind of deals I'm looking for. I don't know. I figure once I got a deal I'd know better how to handle it. Whether I'd wholesale, B&H, or fix and flip! Am I crazy for considering this strategy to find my first deal? Would it be a better idea to use a REA or Craigslist?

[Wes Eaves]

@John Thies I would recommend casting a smaller net. Start with one thing and get good at it...once you feel comfortable start branching out. I think most people think they need to have all their ducks in a row and know how to do everything in the beginning. You can read books, listen to podcasts and get advice, but the best teacher is experience.

Best of luck with your investing!

[John Thies]

@Wes Eaves I know I've been listening to podcasts and reading a lot and I know the idea was a little out there was just curious on the feed back. I've looked at a lot of properties and haven't been able to find the deal for me yet. Getting a little nervous and anxious and thinking crazy things. All podcasts say find the deal and things will come so was just thinking out loud a way to get a deal. But your right I should keep focus on my goals and plans and not get radical ideas yet! Thank you

[Jay Orlauski]

Hi John - To figure out a good starting point, you may want to start by trying to define what your personal investment objectives are. Without knowing this , you may never even know if a good deal is staring you in the face. Are you in it for the long haul and want to develop income over the years? or do you prefer to try to make faster money by flipping something? Perhaps you want to flip - then buy and hold , then flip a new one and buy and hold again - really it all depends on what you are trying to achieve. Also put some thought into what kind of return on your money you would like to see.... this would also affect the type of deal you go into. If you figure where you want to be and what type returns your looking for, you may get a better idea of what type of deal to get involved with. Also, try attending a few investor meetings in your area - you may pick up a few great ideas - hope this helps some.

[Chris Adams]

From reading your post you sound really motivated, but unclear on what to do or why. My suggestion is to answer a few questions for yourself first, and devolop a direction and intent for your venture.

Why are you wanting to invest in real estate?

What do you expect REI to do for you.

Which of the REI types you mentioned will match your personal skill sets.

I rehab because I am highly skilled in construction. I typically retain my properties as rentals because I am trying to build a retirement fund. I am also going to flip a few properties because I want the influx of capital to invest in multi's.

The better you think thru the WHY the better chance you have of attaining your goals.