OfflineI'm just looking for inspiriation and stories of some of the more experienced people here about their first real estate deal, whatever it may have been. I hope you guys share!
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I'm just looking for inspiriation and stories of some of the more experienced people here about their first real estate deal, whatever it may have been. I hope you guys share!
I AM IN NEED OF SOME SUPPORT FOR THE PURCHASE OF MY FIRST INVESTMENT THE HOME IS AN REO 7 BEDROOM 3FAMILY VICTORIAN FOR 19,000.00 HOUSE SOLD FOR 57,000.00 IN 2005 NEEDS WORK I AM WORKING WITH A REAL ESTATE AGENT WHAT WOULD BE MY TOP 3 CONCERNS PURCHASING A BANK OWNED PROPERTY THANKS FOR THE SUPPORT AND INPUT SUE
What you should be looking at with this property is how much work does it need and how much is it going to cost. Once the work is done what are the comps. in the area selling for. Is it still a good deal after the expence of the repairs? Next, what is the rental market like or how long is it going to take to sell this property (depending on what you want to do with it). Make sure you have all your expences accounted for in what you offer for the property.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Sue, Listen to eroberts, he knows what he is talking about, besides he is my coach in the mentor program. He has a head full of knowledge...Jan
I WAS INFORMED THAT THE BANK IS NOW TAKING BIDS ON THIS PROPERTY AND THEY ARE TAKING THE HIGHEST BIDDER I AM NOT QUITE SURE HOW TO COME UP WITH MY OFFER THE HOUSE IS LISTED FOR 19,000.00 IS THERE ANY OTHER FEES THAT CAN BE ADDED BY THE BANK ? THE BROKER SENT ME COMPS AND THE HOUSES ARE GOING FOR AROUND 90,000.00 I WILL BE RENTING THIS OUT HOW MUCH EQUITY DO I NEED TO MAKE THIS A GOOD INVESTMENT? THANK YOU SUE