However, he also studied thoroughly the great depression and it is that knowledge that presumably helped him to make the right decision to avoid the great depression 2.0.

If you are going to prosper in this business you really need to know your own local codes and statutes.Most states and municipalities have them online for you to study.

Correct, but your $5000 house that rents for $500 is still a $5000 house, if you aquired 600 of these, you'd make your goal. and actually, $500 net would mean like a $800 rental minimum thats just $300/mo to cover expenses/taxes which are high in detroit/and insurance (probablly wouldnt even have) I've studied the Detroit market a ton, and there are $5000 properties that rent for $800.

TimHaha ok, I hate making long posts but here goes...I'm in the Philadelphia area and I'd like to make a career out of real estate investing (studying finance at Penn State currently).

If you and your wife will spend the next five months studying everything on BP when you return you will know enough to hit the ground running!

I love these "studies" based on data that doesn't matter.Let me break down real estate for you:Make money good.Lose money bad.

Study whatever you invest in and whomever you are investing with!

I had studied some courses, and I am very sceptical to join with an out of town mentor.

Ive been studying real estate and investing since I was 18, so now for a decade.

I am new to the real estate world and am currently studying all aspects of it.