Making Money / Avoiding Landlord Trap

[RealLifeEstate]

Hello All~! I am new to this forum, asmy post count clearly indicates. I just downloaded Dan's eBook 2 days ago and finished it up today. What a great tool! I am very glad I was led to it from my good friend google. Anyhow, enough of that. Here is my situation, and maybe I can get some feedback. I am a 19year old HS Graduate, Male. I am in the process of getting my RE License as we speak. I do NOT want to become a real estate agent though, let me make that clear. I have been wanting to invest in real estte for a LONG time, and after reading several ebooks I decided it would help me out a lot if I knew a great deal more about Real Estate. That is why I am taking the course right now. I also thought once I get my license it would be nice to use the MLS Directory for my own personal use(illeagle?). Anyway, After I complete this course I will be Licensed in the State of Calofornia as a Real Property Sales Agent. From there I wish to start making my way towards millionaire status. I found something interesting and thought I would share it with you and maybe get some feedback for myself. I heard of something calleda Purchase Option. This option you are basically a middleman helping a Motivated Seller find a Tennant and then cashing him out of the property within 3-6 years and for that you pickup a monthly paycheck as well as a big fat check at closing. You do NO land Lording, and NO real on handsstuff for your tennant. Has anyone else herd of this plan and put it into action with success? Also, what is the prime way to buy a property? I have heard HUD is good? Is the best way to get good deal just negotiating down prices with sellers you find in the paper? Anyway, I should get back to that enormous principles course book. Hope to get some feedback!!
:smiley5:

[Dan Auito]

Welcome to the site here Realestatelife guy! :thumbsup: You will have access to the MLS and your free to use it ethically to your advantage!
Options are a great way to go as well. While your just getting started here let me ask you to use the search feature in the above NAV BAR.

This search feature will allow you to find all the previous posts and discussions on topics that you find of initial interest, feel free to read up and gather all of our previous efforts at answering these questions.

For example you might type in lease purchase, options, etc and the search will give you a lot to read up on, then once you have checked it out, read through and still need clarification come back to the boards and hit us all up for those missing keys.

Don't mis-understand, we are willing to answer up, that's for sure but you will get a lot of information beforehand by pulling up the previous posts as well!

Thanks for coming on board, we are all glad you are here! Dan and the crew. :SM040: :SM128:

[elnuk]

Hi RealLifeEstate and welcome to MB, you could not have found a more informative site if you googled all day :SM125:

I do admire your plans being so young and thinking along these lines is commendable. I need to warn you though, as most on this site will agree, RE is not a get rich quick scheme, it is a slow and steady process but the rewards are there for the taking. just take your time and you will succeed.

I actually wanted to take your route in investing in RE, my thoughts were that the sales commission could be used as funding for my own investments. Your license will allow for more intensive searchs and a lot more due diligence information on properties you are interested in. I do not think this is illegal but i am sure you can find out in class.

Anyways, read, read and then read some more then go out and get your feet wet. Happy investing :smile:

[RealLifeEstate]

It had been brought to my attention that I might have serious problems getting people to listen to me due to my age. I am 19, and I do look young. I do project myself in a professional manner, but that might not be enough. Has anyone has this problem? Has anyone ever not been taken seriously because of their age, looks, or anything else strictly physical? How did you go about defeating it? Thanks in advance. :praise:

[Dan Auito]

Sure we all have. That is just a fact of life. If I was twenty again I think I would have found an experienced mentor and yes that isn't easy to do either, but you can indeed find HIM (A MALE FOR A MALE) and when you do find them then approach the seasoned players in real estate and the people who are selling property with your elder appearing alongside you.

They will think they are dealing with that person specifically but in fact you will be the principle and when it comes time to sign the documents you just step forward and take hold of the pen!

This also allows you to learn from that older and hopefully wiser mentor as you are now an active participant in these supposed older peoples serious conversations. Clothes can help make the man as well so you'll have to try harder to look the part then someone who just knows what the heck to do as a result of being the crusty old salt.

Play the game to win! :thumbsup:

[elnuk]

I so agree with Dan's comments. I had somwhat of a similar problem when i worked in an executive position for an IT company. Using the name of a senior partner on proposals and stuff did get more doors open so in this case a mentor to shepred you along would be an invaluable asset (i wish i had one) However, in my own case i also had to stay a step or two above those i would be dealling and my depth of knowledge did help a lot of times and the more you do it, then the experience will also come in to help.
A wise man i know once said that clothes do not make a man, but they sure do introduce him!.
Hold you head up and keep at it, understand that nobody can put you down until you agree with them. :SM034: