Advice from Nashville's Financial Guru Dave Ramsey
Dave Says
By Dave Ramsey
Author of Financial Peace and The Total Money Makeover
8/14/2006
"What's the best way to get into real estate?"
Dear Dave,
I used to work for the city as a property appraiser. I really enjoyed the job and developed an interest in real estate after seeing what investors were doing with their purchases. What's the best way to get started in this business?
Brad
Dear Brad,
If there's a real estate investors club in your area I'd join it. Attend the meetings and hang out with the people who are doing what you'd like to do for a living. You can also check the foreclosure sales and see who is bidding. Usually, those are your better investors and a great source of information.
Find a couple of folks at these places who have been in the business five or ten years and really pick their brains. If they've survived that long, chances are they're pretty conservative and have stayed away from debt by keeping a cash position.
Anyone can buy houses for a few years, go into debt and end up broke. I know, because that's what happened to me years ago before I wised up. Don't let it happen to you!
- Dave
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