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I have to admit that some of the business cards I've gotten from other REI do not look incredible professional. My question is does that matter in this business? I'm asking because I don't want to pour money into making very professional business cards if simply using a free vistaprint.com template or my own printer and a business card sheet from Office Max will do.

Also, what things are effective in a REI's business card (besides the contact information)? What phrases work? Is printing on both sides worth it? Should I use an obnoxious color to stand out in a pile of cards?

RE-Driven.

If you had to choose three or four things you believe are essential for an investor to successfully flip/wholesale what would they be?

Thanks for sharing your insight,

- RE-Driven

As I started to develop a small business plan (<20 pages) I realized that there are many ways for me to be successful in this business: wholesaling, rehabs; owning rental properties; buying 2nd mortgages and medical liens; etc.

Initially, I want to focus on one and be able to quit my 9-to-5 within the next 18 months. I have no family to support and make $56K a year. I have about $29K in student debt at 2.5% and no CC debt. I also have no mortgage or rent to pay. I have just enough saved for closing costs (about $5K) and another $9K in retirement savings. Given this, should I skip the "no money down" investment methods and try to own rental property? I figure once I can live off of rental income, my time is freed up to flip properties.

Again, my goal is be a full-time RE investor in the next 18 months.

Forgot to mention one more book: The Millionaire Next Door.

This book is inspirational as it really helps to reinforce the notion that getting rich is not based on luck, intelligence, formal education, or inheritance (e.g., the genetic lottery).

If you've ever found yourself thinking, "If only I had/was ... I'd be rich." Then this book is a must read.

I'm new to RE investing, but have been reading up on creating wealth for at least 8 years now. I've worked on Wall Street as an I-Banker and studied business as an undergrad.

I have to admit that I was a big fan of "Rich Dad, Poor Dad" -- it opened my eyes in terms of how to think about wealth. However, I've come to learn that not everything Kiyosaki says is right nor is it necessarily the right path for everyone. So make sure you use your own judgment when reading his book. He's in the business of selling finance and self-help books, not RE investing, despite his claims.

With that being said, I recommend you read:

1) The Richest Man In Babylon
2) Think and Grow Rich
3) The Automatic Millionaire by David Bach
4) Financing Secrets of a Millionaire Investor by William Bronchick
5) Flipping Properties by William Bronchick
6) Beating the Street by Peter Lynch
7) The Intelligent Investor by Benjamin Graham

These seven books will give you the right mindset about wealth, tell you the "how" of creating wealth, give you the basics of RE investing/flipping, and let you understand that any investment instrument on Wall Street beyond boring, low-cost index funds is a waste of your hard earned dollars. Value investing and index funds are the best ways to grow wealth over the long-term.

Everything else (i.e., the advance topics and other specifics) you can learn on the Internet (BiggerPockets.com, answers.Yahoo.com, WikiPedia, Investopedia.com, etc.) so don't bother spending more money on any other courses or books. Everything else is just a rehash of the principles taught in these seven books.

Probably one of the first books anyone should read on personal finance. Almost any modern book on personal finance and gaining wealth (that is good) is based on the principles of this book (spend less than you make, save, and invest).

Can anyone point me to a great resource for really effective check lists or questionnaires when speaking to a motivated seller or looking at a potential property?

I was also looking for non-compete and non-disclosure contracts for bird dogs.

Thanks!

I literally signed up with a local RE club on Wednesday and registered for three seminars through the club. I have two books on RE investing that I had for years and just rediscovered: "Flipping Properties" and "Financing Secrets of a Millionaire Real Estate Investor" both by William Bronchick. I'll have the books read within the next three weeks, and the last seminar I registered for will happen on May 18th.

What are my next steps?

Do I get business cards right now? Do I begin to build a team as I read through these materials and take these seminars? Should I incorporate now so I can begin to deduct all these expenses? Do I even need to incorporate? At what point will I be "ready" to start putting up ads and sending out postcards?

Thanks!

Hello world! :D

After a recent visit to a friend in L.A. who manages her parents' commercial and rental property, I realized that working a 9 to 5 just wasn't for me. The ability to set your own schedule and not have to answer to anyone is worth the risks of venturing out. Not to mention the financial rewards (their RE portfolio must be worth at least $50 million).

Taking her advice, I joined a local real estate club (CFRI) and within the next three years I hope to quit my corporate job and flip, rehab, and rent property full-time. It's not necessarily the money that's driving me to this field -- it's the personal freedom I'll have once I'm set-up: 2-3 month vacations and long weekends at the beach.

I have no illusions that this is a get-rich quick business. I intend to see through many frustrating months in the next year as I try to build a network of buyers and a stream of motivated sellers calling me.

I look forward to learning and helping others in the BiggerPockets forum.