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Just from reading your text it seems you lack direction. what do you really wanna do? Brainstorm and write it all out. I suggest you start with shortterm (1-2yrs) intermediate and long term goals. also i dont know how financially well off you are but you may want to evaluate your situation to see if you are financially ready to do what you want.

Im a newbie also and all im doing right now is setting myself up financially then moving into buying selling homes and renting residential homes. but i have already gotten my feet wet by talking to everyone i can about real estate and finances. I look at homes almost everyday trying to figure out if they're a good deal or not. I may even submit offers on a property just to see how sellers will react and see the process. in the offer there is always a way to just back out of the contract.

oh im also 21 and i keep getting the "I wish i was your age when i started." You dont want to be one of those people if you already know the information. get out there and just talk to people. Put your 5 yrs of study to work!

i dont see how its a good deal wtihout knowing the expenses to make it worth over 1million.... but okay. good luck. what are the estimated costs of repair and i think its +10% for incidentals? someone correct me if im wrong.

well go wtith your gut instinct. if there's 0 cash flow then go by to why you are purchasing the property if it doesnt meet your goals then walk away and save your money/headaches. as far as the building inspection perhaps thats a small expense without having to deal with the larger expenses of when people dont pay rent? anyhow what are the numbers on the property? listed / value / comps / rent /

biggest thing though, you stated there is no cash flow and i assume that was your goal. If your goal isnt in the property why not walk away? unless u have other ideas.

I think you need to figure out what avenue of Real estate investing (REI) you would lke to get into... Rehabbing, wholesaling, renting ect.. or even all of them eventually. Like for myself my plan is to begin wholesaling, when i have enough capital do a few rehabs and eventually get my foot in the door of commercial real estate and renting.

I was talking to a life insurance advisor yesterday that was an investor in the san antonio area and well he said you're 21, you also have a plan for yourself. you're better off than most people your age.

Figure out what your goals are with REI then figure out how to accomplish those goals. hope this helps

fair enough thanks for the helpful information Scott.

you may want to talk to other investors in your area that have been doing it and learn from them. be sure to create a plan that you either type in word or write down and stick to it.

best advice that was given to me was read all about investing then decide where you would like to start and surround yourself with people that have done it before. once u find what type of investing you want to do then create a plan and follow it. make sure the plan is flexible too there are bumps along the road for us newbies as we experience the world of real estate in different markets and areas of the untied states. in my opinion the most important thing is knowing your return on investment (ROI). if you're looking for cashflow maybe renting is your alley. if your looking for short return maybe wholesaling. there are many ways to invest.

i suggest read them all and make your choice... Good luck.

Search online and this forum. the information is out there just need to find it. also ask friends and family if they ever purchased some items in the past and read those... i told my parents about my plans and my mother bought a couple of programs in the past where i learned some howto stuff... also on these forums there is a forum dedicated to rate books and other investment tools to see if they are worth it.

do more online searching than anything... make sure u dont buy something for it just to collect dust. find out everything for free while u can and make a decision if you really need to buy a book. check out creoline.com also. it's a creative online investing site they advertise products there too but i jus read the free articles.

isnt birgdogging illegal if you do it without a RE license? Im just curious because it seems like you are just taking properties in which u have no interest except for a fee. idunno it sjust what i heard

well ryan jus has the hookup everywhere now doesnt he =P. I heard clearwire is very good internet connection for wireless and its also cheaper than time warner. how reliable is clearwire ryan?

lol just find the courthouse or tax appraisers and get the address and they will tell you who owns it. they did it for me here in texas i kind of thought it was giving out too much info but they did unsure if they do it in other states but worth a try?