All Forum Posts by: Faye Vio

@Faye Vio 

Stop reading. It's time to start doing. First, you need to surround yourself with others who are already successfully doing what you want to do. I appreciate that you love to follow people online, but many give wrong information either because they are wrong or because what applies in their state does not apply in yours.

You must surround yourself with local investors. Check out NationalREIA.com for local REIA meeting. Check out MeetUp.com for additional investor meetings. Look for local landlord association meetings.

All real estate is local. Reading online and books is great for something to do in your spare time, but you need to actually speak with others face to face. They will recommend local attorneys, title companies, contractors, subs, everything you need to be successful. Find out where they invest, what they buy, what they pay. You will only learn these things face to face. Being with other investors in your area also creates a synergy and excitement that you won't get by reading.

Time to reach out and interact. That's also how you'll find investors that you'll buy from and sell to. This is not an isolated business, you must be part of a community.

Good luck to you and keep us posted!

Hello Faye!  You are probably in the only place in California, if at all.  Unless you are a socialist, you probably should not be.  If I had to choose Fix and Flip or wholesaling, I would recommend Fix and Flip over Wholesaling.   I would rather see you taking a low down payment loan while doing  the minimum time as an owner-occupant in a triplex or four-plex house where the renter might at least lower your rent to make the debt payments, while adding value while you are there and managing next door places.  This also loans you for the repairs and you want to add-value while you use them.

They usually require you to live there for about 12 months. Many try to talk you into Wholesaling where there are many veterans and some of them just try to take advantage of you.  You also are better off if you will move to the hottest markets.  As soon as you feel that you have learned enough take that action.  It seems to be one of the most opinionated statement in investing.

Unfortunately, I have been bedridden for a few years and I have spent much of my time learning and I was in construction management and real estate licensure for about 30 years beforehand.  I am 61 years old now and from and risen in Dallas, Texas.  I also graduated college with honors in business.  I would like to say that I know what I'm talking about and that I see things from my honest heart.

Good luck to you!