My name is Adam - I am 23 and I want to become a successful real estate investor.I graduated from Kent State in 2010 and instead of doing finance, I started my own internet business.I have been fortunate enough to experience incredible success in my business and will clear six figures this year.With that said - I have a lot of expendable income that I want to invest in real estate.I have been reading and educating myself and will try and soak up the forums.My question is - This is my first year in business and I have no tax returns to prove my income until 2012.

Done...although that is not nearly enough considering the incredible amount of information I have received from BP Nation.

It is very hard to get started in this environment and you will likely have more success hitching your train to someone else's in the short run.

Rent if you have to but you have some time so get to work and look.If you can handle working and living in the same environment it is financially ideal.

Absoulutely incredible job of staging that property.

This is much easier said than done in the current environment.

Coupled with tighter lending standards where right now the buyer pool is limited... the environment is right for huge price drops that make even areas in California seem reasonable.

Matt - buy and hold deals that are under $50k are difficult to get long term financing on, as such, you may want to concentrate on owner carried opportunities when purchasing these types of properties.Small local banks may offer you a commercial loan to cover a package of homes (assuuming you have or will have several), but even that has become more scarce in this lending environment.

Cross over into Indiana and you can find some good deals with a more landlord friendly environment.  

The BP podcasts and forums has provided such incredible guidance and knowledge, I am excited to connect and touch base with the myriad of experienced investors in this community.