LLCs by contrast are relatively simple to set up and maintain and much more cost effective than our neighboring states.

Attend auctions, don't buy, just look and be aware of who is bidding and what's happening.Get on mailing list of all auction companies in your area.Have a fiduciary buyer's broker working for you - you want to be supplied with all expired listings in your investing area, all new listings; land, commercial, houses and lots.Learn "Contract Engineering", clauses; right to assign, delayed settlement, study periods, hybrid offers - etc.Look at 50 houses, don't buy or make an offer on any of them until you feel you KNOW the market.Have fun, this is a great business - enjoy your wealth. :-)

I like rentals with everything that makes a tenant happy to stay there for as long as possible, tempered with not putting things in them that require money and time to maintain, tenant turn-over destroys wealth building.

The people that have been utilizing this strategy for many years KNOW it works and have the statements to prove it.Maybe your policy is 4-5%, Mass Mutual is paying over 7% right now and has a 30 year history of maintaining that level.

The people we bought it from had lived there 50 years, and for the most part, kept it well maintained.

My plan is to save every penny for a year or more while working and studying as much as possible so that by the time I obtain my license I will have a large amount of money saved at which point I plan on not quitting my job right away but just switch to working part time until I'm able to meet enough people and be involved enough to have a better chance of making an income at which time I can hopefully start working in real estate full time with my savings as a back up.

Studying made me depressed.

I have been a real estate investor for 22 years, at the height of my investing I was able to maintain 21 properties by myself with some aggravation, but overall it was smooth, since I had my own business on the side, I could dedicate a lot of time to the properties. 

Vote that night to hire professional management company. 6) In the mean time, don't expect much by the way of meetings, data and budgets. 7) Board decisions cannot be made via email and board meetings need to be publicized to the owners (the sunshine law) unless you the board is in executive session. 8) Any savvy buyer will see that the board members are serving the same positions, that there are no minutes, no reserve studies, no audits, no financials, etc. that's if this lady responds to an agent or buyer with a resale certificate!

Hey guys,My name is Luke, and I have been very interested in real estate investment ever since studying REIT's in college.