Need advice

I have located several boarded up properties listed between $5-$15K in a market population 70,000 with a median income in the 40Ks. I am basically broke, with no money to invest. Are these properties I should pursue or is there too much fix up money and turnaround time for someone basically a week into his real estate investing venture.

Also, a realtor tipped me to commercial property near an outlet mall just off a busy interstate that is 2.6 acres of land. Comparable land beside it just sold for $3.50 per square foot or $630K. This land just went through foreclosure and is selling 93 cents per square foot or $129K. I have located a real estate investment club, but do not yet know of any investors. Any ideas on how I can get help putting money in on the deal?

__________________

I'd look in the paper for a hard money lender or a Private Money Lender. They usually look more at the value of the property then your money situation.
Ask if they will carry the loan or part of it. Look fot ads that say "I buy houses". Use a promissory note to get it under contract and assign it to someone else for some start up money. Someone here may want to get in on it.
jrgnsn

Thanks for the information. I will definitely do that. And by all means, if anyone wants a piece of that action. I won't be greedy on a cut of the pie. I just want to get some positive momentum going, knock out some consumer debt and reinvest.

thanks,

joe

looks like you have some options there, i know if i came across that vacant land for commercial use and the figures are what you say they are, i would be CRAZY not to lock that up immediatley, i would get some more info on that land. SULLY.