How does a newcomer begin?


#1

I’ve purchased a property during its foreclosure phase. Where does one begin? Is there someone that I could follow around to experience the full cycle?


#2

There are certainly lots of “gurus” out there that offer these kinds of mentoring services. The prices tend to be fairly high, and you can likely get most of your questions answered here, and by wandering down to your local Barnes and Noble.
The first thing you will want to do is decide your approach to investing. Two primary choices: 1) how to buy: Preforeclosure, Auction or REO, and 2) how to make money: renting or flipping.
While certain combinations work better at times based on market conditions these choices really come down to personal preference and needs.
Do you know your preference? If not, tell us a bit more about what your are trying to do and we’ll try to point you in the right direction.
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