Thread: Need some good advice..

I was just looking for some insight about real estate investing

A little about me, I'm 30, have my BA degree, my credit is about 720 to 730 with one bad mark (a now zero balance paid judgement, it was something I did not pay out of spite when I was younger instead of going through the proper appeals process etc) It is due to be off my credit next June. I was thinking of doing one of two tings.

One is I wanted to take out a 60k loan for flight school to fly helicopters (as a career) but right now with how the economy is going I am thinking flight school will put me in instant debt while a house would be a smarter choice, an asset.

My plan would be to see about the 8k first time home buyers tax credit, use my VA loan eligibility to hopefully not require a down payment and then shop pre-foreclosures, auctions and REO's for a good deal.

One detractor is that I am single and only make about 30k a year, (which hopefully my income will rise eventually) I have minimal debt though, just a student loan and a credit card, car is paid for etc. Do you think I would qualify for a duplex or SFR 3bdrm residence if i planned to rent out the other two rooms or space etc? I want to buy, live in, rent, then position myself to buy another property etc.

Another question is what is the best site for resources, so far I've checked out Finestexpert.com RealtyTrac.com Foreclosure.com Any thoughts on what site is best or maybe a few others I might not know about?

I'm leaning towards buying a house over fligth school, but what do you think... I've been moving up the west coast the past few years, Long Beach, Ca to Lake Tahoe now I'm in northern Oregon, I'd definately be a fixture here if i bought a home.

Any insight is appreciated