serious & successful real estate investors - HELP!
 

what books have you found helpful to get to where you are now? please recommend any related material that will truly help me start investing in real estate wisely and as soon as possible.

theres gotta be someone out there...

There are some good forums where other investors post. The problem with the books is a lot of those guys don't make any money in real estate, rather make it all selling books & doing speaking engagements, mentoring etc.

Most people who actually do it will tell you that it's very difficult to find the sweetheart deals that a Kysoski book will need to get positive cash flow. Interest prices are still low & there are thousands of people investing now to compete with.

:2 cents:

Here is a little help. Take it or leave it.

First of all make sure that you have time your self to do some of the work.

The go to a regular neighborhood, and find a house for sale that needs a little work. Make the deal and buy it. Be hooked up with the realestate person to sell before you buy. Or sell it by owner.

The day you close, put up the for sale sign with about 25k added onto the price from what you paid. Or more. I usually go about 48k more. That way I can drop it easily and still get what I want.

Show up at the house the day you get the keys, and post the for sale sign. Bring your paint and mower and trimmers.

Very often you can up the price of the house by painting it. Put in a new mail box, and some lights. Add some cheap landscaping. But something that looks nice.


Post flyers everywhere.


Good luck.

Hook up with someone already in the biz and learn from them. Books don't teach you the real world.

You need a sharp eye for pricing and what's going on in the surrounding marketplace.

Its all about knowing when to buy, when to hold, and when to sell. Knowing how to deal effectively with contractors to do improvements at rock bottom prices. Knowing about a bargain property before anyone else does that means networking with the local real estate agents.

thanks for the great responses guys. yeah i guess its just like with this biz you are only truly going to learn by going out and doing!

Key movers in real estate right now is the Preconstruction Market. I just purchased a place in Miami called "Marina Blue" for 460k that will be done in 2006. But I will never close on it as I have the right to sell it prior to close to anyone I wish. This to me is the best market where you can leverage your monies without the bs of having tenants.

There is another development in Miami right now where you can purchase for 650k and it is a condo/hotel deal with is a no brainer. Room rates at $900 a night and rated top hotel developer by Robb Report. I would love to get 2 units but I think I can only pull off 1 for now.

http://johntreed.com/

Especially important to read his take on the major real estate gurus you see on tv and in books.

Just do not buy the Carlton Sheets program or the one with the 2 midgets......yes midgets. All are idiots.