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Hi, I'm a newbie at this and I'll appreciate any help I can get.
Are there any good magazines/books/articles/manuals/etc out there that I can get my hands on? I'm truly a beginner, and the only thing I know about economics/investing is that I like money. So a thorough, comprehensive yet mild introduction is what I need. Thanks.
agreed.. Real estate is a good investment.. you just have to be careful,,, read alot and have enough knowledge before entering into something. MONEY matters.
Aim for positive cash flow real estate and you will be fine. Ad one home / year to your portfolio and in 10 years you will have a large nest egg. I do this with my investors and it works.
Stick to laddering cd s until you get a good understanding of your investment plans. I call the stock market; middle class gambling...and sometimes a yo-yo.
All the best to you.
I just ran into a decent type of investment like what I was talking about. This may give you an example of what I mean. There are 60 bank owned duplexes in Fl that they are seeking 120-150k for. If you figure the rental amount at $800 then look at the cost of the note. For investment real estate you are generally looking at 20% down so at $140k - $28k you are financing $112k or about $725 /month This means each unit will cover the cost of the mortgage so it offers a very positive cash flow situation.
I like the duplex or multiple units as often the second unit will be mostly positive which lessens the risk. In a case like this one one could likely get a much better price buying several units which make the margins even greater.
These are the no brainer types of investments. If you can find something like this you are well on the road to building wealth.
Best of luck.
If you read Biographies on most of the famous rich people, you'll realize that they all have something in common, they have more than one income. Start with something like real estate, and once you've put away some money, start creating another income, like buying out small businesses, fixing them up, and selling them for more money.
I kinda did the opposite of that, I started with a business, bought out some other small companies, and then went into real estate, among other things.
Start with motivation. Investing is a gamble. Start wisely.
Few people could have said it better. You have to be very well motivated, and whatever you do first, make sure it is a safe bet, and go from there.
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