This book written in 2009 by Carolyn Janik has everything you need to know about buying your own property.
Basically, stay away from tax liens or tax deeds of any kind. 90 to 97% of the original homeowners get their home back. You can really just get your investment back plus 15%.
REO's are great because you can get amazing mortgage financing from the banks.
Sunday, January 15, 2017
Sunday, January 8, 2017
Week 1: How to Get Rich In Real Estate ; Quit Your Job, Be Your Own Boss, and Live the Dream
This is a book by Preston Ely. One of the first books that got me started on this real estate train. I was working for a telephony company. This nice old woman called up and said she read this book how to get Rich in Real Estate and she needed to set up a phone number.
I started reading the book to see how the company I was working for was mentioned in it. And that's what sparked my initial interest into this industry.
It's a great book Preston is based in Miami and does the majority of his deals there.;
He goes over exactly what you have to do to start up a wholesaling real estate business.
I don't even have the $1,000 to give as a good faith deposit to get one of these deals started. That's the paragraph that really hit me. Once the contract is in place with the buyer you have to put down 1k before you even find a seller.
I too just bought the phone number and that was it you have to get a phone number to hold the messages for people calling your bandit signs. I ran out of money even setting up the bandit signs.
My goal is very simple. This is a very simple blog. I don't even expect anyone to read it. I know essentially nothing about real estate. I'm living in California now barely making it.
But this quote from Brian Tracy is what this blog is all about and how it will base the next 7 years of my life. The rest of my 30's. Here is what Brian Tracy said:
"If you can read one book per week in your field of interest and take excellent notes. In 3 years you will be an expert. In 5 years you will be a national expert. And in 7 years you will be an international expert in that field. "
I'm going to log each book I read each week for the next 7 years. This is a catalog for myself.
I started reading the book to see how the company I was working for was mentioned in it. And that's what sparked my initial interest into this industry.
It's a great book Preston is based in Miami and does the majority of his deals there.;
He goes over exactly what you have to do to start up a wholesaling real estate business.
I don't even have the $1,000 to give as a good faith deposit to get one of these deals started. That's the paragraph that really hit me. Once the contract is in place with the buyer you have to put down 1k before you even find a seller.
I too just bought the phone number and that was it you have to get a phone number to hold the messages for people calling your bandit signs. I ran out of money even setting up the bandit signs.
My goal is very simple. This is a very simple blog. I don't even expect anyone to read it. I know essentially nothing about real estate. I'm living in California now barely making it.
But this quote from Brian Tracy is what this blog is all about and how it will base the next 7 years of my life. The rest of my 30's. Here is what Brian Tracy said:
"If you can read one book per week in your field of interest and take excellent notes. In 3 years you will be an expert. In 5 years you will be a national expert. And in 7 years you will be an international expert in that field. "
I'm going to log each book I read each week for the next 7 years. This is a catalog for myself.
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