Can someone be brutally honest about getting into real estate?

Tips and Deals Forums Buying Your Home Buying Your Home Can someone be brutally honest about getting into real estate?

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    • #387216
      Anonymous
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      OK, here’s the skinny. Real estate is something I wanted to get into since I was a youth. I just never decided to take a plunge into the vast ocean of selling and buying. During my stint at my last job, I became close with a co-worker (work wise). Found out she was very wealthy, she owned 2 brownstones and a few houses throughout NYC. The brownstones were paid off and she only collected rent and the other houses she sold or rented. (This was just one of her many hustles)…another friend of mine met an investor during vacation in Dominican Republic. This investor purchased a villa (in DR) for around 10K, rented it out…made enough to pay it off the same year and now he sits back and collects pure profit while contuining to work elsewhere.

      I mentioned these stories because this is the path I to want to head…(I know it’s no walk in the park) but with anything that warrants great success there is also great labor…

      My sole goal for getting into real estate is I want to buy a house with little or no money down, rent it out. Sell later if I have a buyer, if not, I’m happy with rental income. I also want to purchase cheap carribean homes and rent them out to friends, tourist and locals. I know there are tons of other ways to make money in real estate, but you can’t spread yourself to thin. I am also well aware that I would need basic experience in buying and selling for someone else first (maybe I’m worng). I like to focus on one thing and then attack it full force. I have no money or experience whatsoever. I am very eager to enroll in classes, as soon as this week. Now from what I’ve been reading, it seems there are several types of agents and licenses that each come with a unique set or rules and regualtions. Also, it seems that once you get your license, you’re pretty much left on your own and getting a license is no subsitute for real life experience.

      I am a realist, I would appreciate if someone can be sincere enough to tell me what to really expect, which licenses I need and don’t need. What I should be studying and which courses I should take when I enroll. I figured I ask on here, calling a school or asking someone in the business doesn’t really go to far. A school just wants your money, and a familiar doesn’t want to give up their trade secrets or go into great detail…If any of you are gurus or know your stuff, please help me out. I want to advance myself in life…Thanks!!

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