I basically followed his plan an ended up purchasing 33 properties in 5 years.

The membership is high to begin with and the basic membership is multiplied by the number of units you own.

Basically I hate wasting money so that motivated me to go or stop.

In part, it depends on exactly what aspect of real estate, and at what scale.For basic LL/tenant agreements and handling evictions, sit in court a few times, and you will see certain lawyers CONSTANTLY handling evictions.

I'd suggest you read through the archives and gain enough basic knowledge as to be able to ask a meaningful question.

Except for demolition, painting and landscaping I can't do much, at least not by myself, I am just not experienced enough in rehabbing, and I want some quality work done, so I am kinda stuck having to hire most of the jobs out.I was planning on getting my first 5 houses done and learning from them, piling up more cash, and than basically just doing rehabs full time.

I was recently lured into the web of the instant riches of bulk REO, only to find that, while many talk about it and supposedly are dealing in it, few are actually finding success in that area.After developing a few good connections with investors, and a lot of soon to be forgotten not so good connections, I decided to get back to basics and just observe and learn for a while in the hopes that doing so will also allow me to develop a network of people who are already successful in the areas of residential and commercial investment.I am 51 years old, and actually backed into the mortgage business in a round about way 4 years ago.

You don't need a system, you just need to learn the basics of the business and then start working.

I just loved their term of "gingerbreading it" - just basically paint, carpet, some landscaping, flowerboxes, etc.

Which basically means to wait a few months for prices to come down more so that after my DP I still have enough to pay 6+ months of mortgage and food...PM said they think the bottom has been reached here, but that's not what the national news says, and personally, I--who know absolutely nothing--think it has quite a ways to go down, too.