@Joel Owens - exactly. @Bill Ham - Very well said!
For anyone new to the industry, the very best thing to do is to find a mentor who is where you want to be, then follow his/her advice. The advice given here is great, and seems to cover many angles and opinions, but nothing replaces a one-to-one mentor who has reached (or exceeded) your goals.
It is true that it is important to take care of your own "house" (get your budget in order, work on credit issues, if any) before you expand and take on a more complicated budget (like a real estate deal). @Jon Holdman 's advice of starting small is also very good.
However, when you are systematically doing the "right things" - successfully managing current budgets, regularly finding and doing due diligence on potential deals, working with a mentor, constantly learning the trade, and submitting deals to lenders (private lenders, if credit is an issue), it is true that money finds good deals. Sometimes the cost of borrowing is higher, but if the profit margin works and meets your criteria, it is often still available where a well-researched and profitable deal is concerned.
Best of luck and enjoy the process!
