Where do you get the very best real estate investing advice?
Go to the people who have done it.
These are the successful investors who have a lot to teach you.
Where are they?
They don’t advertise in the phone book so you’ll have to find them where they gather. That’s primarily by networking, just like in any other business. Real estate clubs and local real estate classes are a good place to start.
If you’re looking for [tag-tec]The Donald[/tag-tec], or The Donald type with his glitz and fancy suits, you’re probably wasting your time. These real investors are most likely, very down to earth, as we would describe them here in the south. They don’t stand out in a crowd.
They’re probably driving an old jalopy you’d might be embarrassed to ride in. They invest in properties that aren’t always in the best neighborhoods. And they do a lot of the work themselves, or they have their own people who can do the work for them.
It’s a consistent month in month out way of creating wealth. And it’s still very possible to do it here in this country with this market, or with just about any market. They don’t allow gloom and doom market watchers to discourage them.
We’ll be exploring the working philosophy of these investors more in the future. But here’s a tip for today based on David Cook’s book “The Wall Street Journal Complete Real-Estate Investing Guidebook”.
It’s okay to take on real estate debt as you buy your properties. That’s the right kind of debt to have. Make sure it’s debt you can comfortably handle. This debt gives you leverage. Use that leverage wisely and build your wealth one property at a time.