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FIB - Scams 101 - Ye Olde Archives
Posted By: Mike S. In Response To: REAL ESTATE MENTORS (clay)
Wednesday, 11 May 2005, at 7:26 p.m.
> I just did a search but didn't come up with much in the subject lines.
> I'm looking for advice on what to be careful of with "Real Estate
> Mentors". I would like to get involved with Real Estate but I want to
> steer clear of bad deals with sham Real Estate Mentors. I guess the
> question is...who do you rate at the top of the list of Mentors in what
> you get for the mentoring package?
Skip the stupid mentoring package and find someone locally to take you under their wing to show you how to do it. Most Large cities have real estate clubs and such. Join one! You won't regret it. The only real important part of real estate is learning how to evaluate a property, so you don't over pay. After that, the most important part is property management. Skip single family homes, stick to multi family of 5 or more units. The more the merrier. As the value of your property goes up you sell and buy a bigger one or two! Buy a building or two a year and in 15-20 years you will be in a position to start selling and living off your profits. Doing it this way is very safe.
Mike S.
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