How to get started in Real Estate investing, and making cash flow? How do I do it?

Question

I am a 22yr old who has always been interested in Real Estate investing. I want to learn how to make a monthly positive cash flow so later in life I will not have to worry financially about money. I don't want to be super rich. I would be happy with +$4,000 a month for an income by age 30. That is my goal for now, and then more money down the road would be nice, but I don't know how to get there. Does anybody know someone who can help me. I know this is what I want to do in life and I am willing to work hard for it, but I just don't know how to do it. Someone HELP me please.

Answer 1

Buy a property and rent it out for more than the expenses of owning it (mortgage payment, maintenance, taxes, insurance, vacancy rates,etc). The amount you have left over will be your positive cash flow. Typically this will take investing in several houses to assume a cash flow of your liking, but can be accomlished by investing in one large property too.



By definition you need to have money to invest in anything. So to get started you need to find a way to make money first. And to get a mortgage you need to show proof that you can have a regular income to repay the loan in the first place. They won't let you count you planned rental income.

Answer 2

Every knowledgeable attorney I have every spoken to--and that's been a lot--recommends an LLC for holding properties. they're easy to manage (fewer formalities than a corp), provide good asset protection benefits if run correctly, and allow the depreciation to flow thru to your personal return. HAVING SAID THAT, if you purchased the house on lease/option, you don't get to take advantage of the depreciation, as you are actually a renter. And another question you might ask is, "is it a good idea to put 40% down on a property I don't own and that is subject to the financial and title problems of the actual owner?"

Answer 3

easy find a library and start reading.

get 2 second jobs and save every dollar.

turn off TV b.s. programs about buying R.E.

( makes us wealthy)

do your buying with as much cash as possible.



read Total money make over, Dave Ramsey.



good knowledge is good luck.

Answer 4

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