Networking in real estate investing is vital so don’t be daunted and go to the events!

Avoid wasting money on toys, cell phones, cable TV, restaurants, car loans, wasteful bad habits and do not buy a personal home.

I'm not sure I'm reading the question correctly because I can't see any cons.As long as you can personally afford it since you'll be living in it, which the lender will ensure of course (that you can afford it), I think it's a great way to start out in real estate.As long as it's habitable (to your standards ;), you'll be able to really "get your hands dirty" with some repairs (even if hiring some out) but without the stress of having a tenant bothering you asking when the repairs are going to be done.Again, maybe I'm not understanding, but this seems like a great & classic "sweat equity" way to get started.

(Think I answered my own question :-P)I should *not* try to run numbers with a head cold... but it *is* habit forming, you know :crazed:

I was forced to file bankruptcy 5 years ago along with filing for divorce, due to me ex wifes spending habits, and lack of repaying habits...

I agree with Varma and Bryan, investor psychology, risk tolerance, and what allows you to sleep at night is vitally important.

Networking in real estate investing is vital so don’t be daunted and go to the events!

I'm doing the best I can to change my mindset, my habits, my learning patterns, life patterns; you name it I'm changing it to align with WEALTH.I currently work a menial job as a server to pay the bills and put a roof over my head, but my focus is a lifelong goal of success and having my money work for me.

So im searching auction.com and some basic logic tells me i want a residence thats immediately habitable.

I need to change the habit of just relying on the MLS or waiting on REO list agents to call me.