Too many people think becoming a broker is a get-rich-quick scheme.

first off, im not rich...im scraping by actually...i own some rental property and rent out 5 units currently...i also bought and sold 2 multi's a few years ago...i have experience in this market and renting to section 8 tenants...im looking to make another purchase of a 3 unit for CASH FLOW purposes...one property im looking at tomorrow (we'll see how much work/$$ it needs) can be bought for $200K...i can rent out each unit for $1350 and would cash flow about $2000 per month...is this too good to be true?...

I am 25 and only began investing in real estate 2 years ago (although I have been going to seminars and reading books since the age of 17, it was just taking that first step that took a while).From an academic point of view, I am a grad of UC Santa Barbara with a major in communication and minor in Entrepreneurial studies.

@Steve Alexander forget Real Estate, write a book and go on the 'get rich quick' circuit - you are the modern Don Lapre!

I even use Skype and TeamViewer to communicate with clients so I'd highly recommend looking for one of the best with great references that interviews well with you.

As some mentioned its all about their priorities and we try to keep lines of communication open and offer to transition them to friends or family but in the end they hunker down and the marshall is knocking on the door.I guess what I am trying to say is you do all those checks to minimize risk but there is no guarantee on anything.

Now, some young owner-occupant couple comes along and thinks to themselves "dang, this just needs $500 worth of paint and $2000 in carpet, if we can get this at 65K we will be rich!".

I would be sure to come up with a plan B and communicate that with the seller.

Do not pretend to know that I am in communications with every states' manufactured housing division and run my procedures past them to confirm they are legal in each state.

I considered in the past, but most I come in contact are looking for the get" rich quick" and I'm on the slow and steady path...