As I enter the fourth quarter of this year, I reflect back on the trimuphs and tragedies of past real estate investments.
Most people have "analysis Paralysis" and research everything imaginable BEFORE taking any actions, and often times take no action. I was the exact opposite when I began my real estate investing in 1997.
In the summer of 1997 I was growing weary of computer programming. I longed for a new career but balked at the idea of returning to college and starting all over again. What to do? The I saw the now-infamous real estate investing info-mercial by Carlton Sheets. I bought the course. I reviewed the entire course twice. I was ready to dive in! I felt ready for creative real estate investing! And boy did I dive in.
I started following the steps outlined to locate rental properties. I contacted a real estate agent who helped me locate a VA repo. I called FSBO's. One FSBO told me about his brother-in-law who sold houses to investors. I called the investor, went to some of the group meetings he held, and decided to buy 3 of his rehabbed houses.
I closed on the purchase of all four houses in the same month of October. I had also started traveling as a programming/project leader consultant so I had to find a company to handle the management of the properties.
The monthly expenses, even with the management fees, were less than the projected rental income. No problem, right? Ideal situation? To be continued.
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