QUOTE (zimnicki @ Nov 26 2008, 05:08 PM) Hey guys and gals
I was told by some friends to join the website, just got into my first realestate investment about 5 months ago, and it`s doing well, looking at getting into my second one. hoping to get a lot of info from all of you.
Just wondering how everyone else got there start, in rental properties, and how many properties, im looking at my second one, but it`s a bit difficult no little to no capitla for the second one!
any help would be great
Michael
started with a condo in 1997 .. 20K cash .. 60K mortgage .. then one more (0 down, i.e. 20K LOC and 60K mortgage) .. then 2 more (about 20K cash each) .. 2 of the 4 I still own to this day .. one I sold for profit and one at a small loss in the 9/11 slump in AZ .. .. then a 15 suiter in Edmonton in 2000 .. then a 20 suiter in 2001 .. then realized I needed more skills and a network and joined REIN in 2002 .. then a 24 suiter in 2002 that I condo converted ..
Most of the cash came from working, some from my dad, some LOC and later being a partner in a software and consulting firm .. and after 3 buildings on my own most money came from from JV partners .. initially 6, then 9 more, then 12 .. then 20 .. then I had to add staff as the demand was higher then I could supply and call back and meet ..
It took me 5 years from "gee, I should buy real estate" to taking a course with Raymond Aaron in 1992 .. then 5 more years to actually do s.th. i.e. buy a small condo ..
Read these 2 posts here
5 ways to make money:
http://myreinspace.com/public_forums/General_Discussion/61-3347-5_ways_to_make_money.html
How to get started:
http://myreinspace.com/public_forums/General_Discussion/61-4391-How_to_get_started_.html
P.S.: improve your typing / spelling skills (there are at least 4 typos in your very short e-mail .. so already in a job application you`d be in the "out" pile !!) .. read the 5 ways to make money .. are you @ 110% in category 1 ? (I am just mentioning this not to piss you off, but to force a way of thinking as one person writes and saves 3 seconds .. and a 100 read it or see it .. maybe it is an age thing .. be less sloppy ..
P.P.S: good luck !!
Not to pick on you ... here are the 4 typos:
a) real estate .. not "realestate"
b) I am ... not "im"
c) their start .. not "there start"
d) capital .. not "capitla"
P.P.P.S: I use a spell checker as it picks up 99% of all typo`s .. as I am lazy too .. but I found a system called "MS Word" or "MS Outlook" or "Firefox" that overcomes my own laziness in typing by showing me my typos !!!
