Bill and Myka. Thank you both for your replies.
Here's my story.
Well, I've been working for over 7 years as an Engineer here in the Silicon Valley. Headquarters has decided to shut down the plant here and move operations over to other, cheaper states. I'll be out of work at the end of the month.
Since I have some free time to reflect and see if I want to continue to work in a corporate environment, I wanted to revisit Real Estate investing as full time rather than part time as I did before.
I've bought a few homes outside of CA the past few years. This was right before the huge boom of 2006. In hopes of appreciation, Like a lot of people back then, I bought them with negative cashflow hoping I could make the money with appreciation. Right now I'm at hold status since the prices have not gone up and one is slighty underwater.
Since I've done it in the past, the strategy I know of now is buy and hold (nowadays, it must be positive cashflow). I've used traditional financing in the past but am interested in other types of funding if the numbers come out right. Wholesaling seems interesting to me and I've been trying to read up all over on how to get that started. I knew of a former co-worker who plopped down at least 100K in cash to purchase a foreclosure at the courthouse and then turn it around within weeks and sell it for a return (this strategy probably won't work for me since I don't have 100K+ in cash!)
I have some friends that had the same strategy as I did (hope for appreciation/negative cashflow). I've been looking around for a Real Estate Investment club (there's a few here in the Bay Area. I'm wondering if there are recommendations to any). I really don't have a mentor.
