All Forum Posts by: Account Closed

When you say "very aggressive" financing, what do you mean? Like hard money?

So I've just read chapter three of the UGB. Looking at the three different strategies, buy and hold looks like the most feasible, but I have to say, flipping and wholesaling certainly look attractive. I just want to take the quickest route to being able to quit my job and live off of real estate investments. I'm eager to hear from investors who are currently doing this. How do you do it? What was your strategy?

So I've just read chapter two of the "Ultimate Beginners Guide To REI". The one concerning education. So here's my question:

How educated should I be before I start investing? I have a book called "Principles Of Real Estate Practice 4TH Edition". It's a textbook to help students prepare for the exam required to become licensed. I've read it twice. The book contains a chapter test for each chapter as well as a practice exam. It also has a section on real estate mathematics with problems and answers. It also has a section of general real estate terms. I recently read it and took the tests again.

 22 chapter tests total. 19 of the 22 I scored A's and B's. 1 test on the chapter about appraising, a C. The chapter on closings, a D. And the chapter on investment of all chapters, an F. 19 of 22 tests above average score for a total of 86%. B+

Practice exam results: 55 of 75 questions correct. 73% C-

Real estate mathematics test results: 26 of 33 questions correct. 79% C+

I know I should probably read the book and take the tests again but boy, that second time was tough. I was thinking of just going back over the three chapters and the real estate math and terms again, but even that will be tedious and...man. I was just wanting to know if any of you think I've done enough education wise to move forward with investing? I know I'll have to continue my education but right now I'm just a little exhausted from it. I was wondering from some of you out there how much you put into your education before you jumped in and started investing? Thanks for reading and thanks ahead of time for any replies.

Thanks David. Great reply! Yeah I was thinking the multi-family unit would be the most feasible option, but then again I was thinking maybe there was an easier way, like investing in notes...

So I've began reading "The Ultimate Beginners Guide To REI" for the third time now. I've decided that this time, after each chapter, I'm going to hop on the forums and ask any questions I have concerning that chapter. I've just read chapter one so here is my first question:

I know that real estate investing generally is not a way to "get rich quick", but how about "making a living quick"? I don't have any fantasies about getting rich. All I have is a "dream" of freeing myself from the regular 9-5 working life, and I see real estate as a potential way to realize that dream. Am I correct on that assumption? Then to my next question:

In order to make a living investing in real estate, will I need to go at it full time or can I get a way with part time investing while still working my job to eventually free myself from that job? Third and last question:

What are some of the best ways to invest in real estate to make enough to live doing it?

Thanks ahead of time for any responses. I would especially appreciate hearing from anyone who currently makes a living through real estate investment and how they reached that point.

Thanks Brandon! I'm glad to hear that you think my goal is a realistic one. I think I'm going to go for it!

Hello everyone. My name is Terry. I just looked at my first potential investment property today. I have no previous experience with real estate and I currently own no property. Hopefully that will be changing soon. 

  My real estate goal is simple. Replace my current income that I presently earn through a bi-weekly check from a n 8 hour a night labor intensive job, with income generated from rental properties I accumulate. First off I want to know. Is this a realistic goal? Thank you for taking the time to read this and thanks ahead of time to anyone who replies to this post.