Best Real Estate Investing Area

[Robert Burns]

I am interested in some feedback on the best area to focus my initial real estate investing activity. My short term goal is to establish a $7,500/month income ASAP from my real estate investing in order to quit my job and be a full time investor.

The areas I have identified are:

1. Wholesaling
2. Subject To
3. Lease/Option
4. Buy/Hold
5. Foreclosure

Based on my short term goal, where should I focus?

[Robert Burns]

Hassan,

I appreciate your comments and suggestions. However I will move at a much faster pace than you described.

Have a Great Day!

Bob Burns

[Mary Burton]

Care to share with us that much fast pace? :)

Anyway, good luck on your endeavor.

Robert Burns said:

Hassan,

I appreciate your comments and suggestions. However I will move at a much faster pace than you described.

Have a Great Day!

Bob Burns

[Jason]

The best thing to do before any investment is to get the most knowledge form the internet. Read books written by real estate experts and then go for some thing cause it is better to be wise then sorry.

[Matt Gerchow]

There are a lot of great places to invest.
One of the first questions will be, how much money do you have to invest?

Matt

http://www.Real-Estate-Investing.com
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[John Schroeder's RealProspect Software]

Start with wholesaling and build up your investment capital. Once you have some money to buy income then the game changes a little. At that point I would suggest looking into multi-families if you are going to move into holding cash flowing properties. Single families for cash flow is not the best way to go. You can pretty much buy duplexes for the price of single families and have twice the chance of collecting rent on time, and only one roof to worry about.

Wholesaling is the entry level position in the career of real estate investing. Its the easiest to understand, the quickest to get started in, and when you make a mistake its the least expensive to learn. Thats where I would start and then let the next step unfold from there.

[Randall Fujinaka]

HI Robert,

I started by doing rehabs....then I did Sub-to rehabs...now i'm doing assignments...or better known as wholesaling.
Right now, I would recommend wholesaling. It is the fastest, safest way to work the market. Because if you work a timely, and costly rehab, which could be way more profitable..it is way more dangerous if you get stuck with the property and it doesn't sell. Lending conditions are tight right now and there are a few buyers. The ones that want to buy, need to drop more cash to make lenders feel safer...so the buying pool has gotten even smaller...
So research your target market areas well..make alot of offers way below value..because people can't get out...and you can sell these contracts or options to other investors/ owners w/ little risk.
That is my humble opinion...and that's it...good luck...seek and you shall find....knock and it will be open to you..



http://www.rxinnercircle.com
Hawaii's private group of investors

[Hollywood Landlord]

As inspiring as it is to have such intense short term goals, it would be prudent to pick one, master it and then continue to add others to your buying repertoire...

For example, you could take 6 months or so just learning the ins and outs of wholesaling, getting a mentor to show you the ropes, so you can see what it's really like in the world, rather than what they preach in the books and workshops (not that some of them aren't valuable), but some of them aren't specific to region, current economics, etc...

Please just take your time and take things one step at a time.

Once you get a few under your belt, you'll be a pro in no time.

Stirling Gardner (aka Hollywood Landlord)
EZ Landlord Forms

[Robert Marx]

It is good to know about your real esatate investment step. Your short term goal seems to be pretty cool and I sure that your are going to succeed. In my point of view, I do not find any other thing that you need to look for. Just focus on your target.

[Robert Marx]

$7.500 a month might be a little high. Try to go slow. How about staring at $5000 initially and once you do the basics, than you increase it..........



http://www.cacoastalhome.com/
Scotts Valley homes

[Robert Marx]

Hi Robert. Your desire to start with $7,500/mo is a good decision I think. If you can make a start once then do hard struggle to reach your goal. Doing Wholesaling you have to be careful about deals.

Robert Burns said:

Keith,

Thanks for your reply and great information. I truly believe my goal of $7,500 per month with REI meets the 5 criteria you list in your message. Specific: I must make at least $7,500/month from REI, Measurable: $7,500 deposited in my business bank account per month, Attainable: 1 - 3 Wholesale deals per month can generate $7,500 per month, Realistic: $7,500 per month income from REI is very common, Timely: My goal of $7,500 per month should be attained within the next 90 days.

I am curious about your 37 different ways to buy a house without my money.

I will give you a call.

Have a Great Day!

Bob Burns

[Investorjane]

Right now we have been working in the Atlanta market and buying up REO properties. You can pick up properties for 40K that cash flow $600 to $800

Another option with that market we use is wholesaling them and it work really well because in these time people want a secure investment and one that is paying them every month make sense. Plus those house sold for 100K more a year ago so just sitting on that cash flow until you can sell in to a stronger market is what we doing right now.

Hope that is of some value to you