Originally posted by @Michael Lee:
Hello and welcome to BP! Most investments are either short term or long term. You did not say if you have been ble to save any money for investing. I do believe that you can make it either with cash or financing or if you are willing to do any wholesale. I have benn interested mostly in tax lien certificates, MF, lending money, and Fix and Flip.
I am 59 years old and probably have more options than you. Unfortunately, a brain annurism and a stroke shut me down temporarily. What most people are saying is just get "started". Before you get started with investment purchases you should know the market you select and it's best locations. Building a Team of experienced professionals that will help you is one thing you should do before you start investing.
Focus on your income production. Do not try to do anything yourself. Leave any emotion out of your decisions. Always do the math numbers and try to look at the prospective properties before you make an offer or at least have a clause in the sales contract that will allow you some time (usually about 15 days) to inspect a prospective property and possibly back out of the deal without a penalty that will hurt you.
Know what that area your in is popular and just do that and hire an Agent to sell it for you. You might have to pick a market where a bunch is going on as regards to selling. Just go where it's "hot". Just pick what is working the best for you. You see, I am 59 years old and I have past experience in construction and real estate. I can help you get to where you want. I am still recovering medically and will be home a few more months so do not hesitate to contact me through BP at any time. Good luck to you!
Thanks Mr.Lee for extending a welcoming hand! A 59 year old REI, who has been in the game a while, will be invaluable to my experience as well. I do not currently have any financing to get start. I am starting a new job soon as an audit accountant and will be using those funds to start out in real estate. As for when I do get started, I plan on using an agent, contractors(ones that have a proven record), a property manager, a lawyer(my best friend's dad is a lawyer who has experience in real estate), and a property manager also. I do understand it is not cheap to have such an outfitted team, but I want to be more on the safe side. I have been wondering though if I should maybe start a legal entity before starting my journey. Question for the lawyer and tax accountant I imagine.
