Hello im just getting into real estate?

Question

I'm 18 and i've learned some secrets of real estates. I want to know is it wise to start young? also i got it from carleton sheets program is this a valid source? and do you know of any bad properties in good neighborhoods in southern cali? Any help is good help at my point. Thanks!

Answer 1

Throw away your Carleton Sheets program away. It's useless.

Answer 2

Burn the Carlton Sheets stuff it's trash. That stuff might have worked in the 80's when he wrote it most of it is illegal now and called mortgage fraud.

I always know when one of those seminar sellers has been in town, I start getting phone calls looking for distressed sellers with equity and cash flow.

Get a grip, if it had equity and cash flow it would not be distressed!

Foreclosures are at an all-time high. The problem is unless you can get the lender to do a short sale your sunk. The distressed seller is probably way to over-leveraged to have any equity.

We just came out of a period of 125% loan to value lending to anyone with a pulse. As adjustables come due and rise these people are going to be renters again.

Great time to buy rental property. The great news is it is a buyers market in single family. The bad news is the sellers owe more than the damn thing is worth.

Check the obituaries, start going to funerals. The dead guys family may need to liquidate his holdings.

Read this:
http://turnkeyproperties.org/resources_details.php?id_art=66556&img_id=0

http://www.turnkeyproperties.org/custom2.php

Answer 3

I started at 23 and at 38 am going strong. There is no secret to real estate. Your one key to success is education. There is a lot to read and at 18, you are just beginning. Go to the local bookstore and look for the real estate section. In Barnes and Noble it is quite large. There is a reason for that... everyone is doing it. By the numbers, there is no "get rich quick" deal. Bad houses in good hoods exists, but everyone sees them and there will be competition. Don't worry about the home runs, settle for first base. The rest follows. Best of luck.