OfflineFor a new investor those words can take the wind out of your sails.
I'm still new to the investing game but I learned on my first property very quickly those words should be taken with a grain of salt.
If your a new investor and your title company or real estate agent or whom ever your dealing with says "well that just the way things are done" Start looking elsewhere because they may not be willing to look outside the box.
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You sure hit the nail on the head. When I first was interested in real estate I was working for a mortgage/real estate company combo and I asked EVERYONE there how I could invest with no money down? Would you believe they ALL said it wasn't possible? Well, a year later I did it and proved to myself that it was indeed very possible, then I did an assignment 6 months after that. So don't let those guys take the wind out of your sails because they're speaking purely out of ignorance! They have tunnel vision, and like you said they just aren't willing to look outside the box, but for those of you who are NOT willing to take their word as gospel, keep trying, keep looking and you too will prove them wrong, just like I did!!
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
I've been just a lurker for a few months now and between you, Anita, and Rina you three inspire me on a daily basis.
I'm on my 2nd Flip and even though I made a profit on the first one it could have been a lot more lurcritive if I belonged to this site.
Now I am trying to branch out and do equity exchange or lease option, assignment of contract or any number of kinds deals.
The biggest lesson I learn on the first was the property I bought had some strange title issues and I must have called 10-15 title companies and none of them would give me title insurance and said that house will never have clear title which didn't make sense to me and then I found a great title company who spent about 2hrs. reasearching and found that the only problem was my deed had not been noterized. Within 24hrs I had clear title and now I will use them for every deal because they didn't tell me that's just the way things are done.
Phil
I want to welcome you to the DG family, in case I didn't already, we're so glad you decided to quit lurking and jump in the pool... LOL! Well, I'm glad you decided NOT to listen to those un-informed people and forge ahead. That shows just how dedicated you are! I don't even think I would've continued after 10, well maybe... LOL! I hope you start your rei journal, I have a feeling we're going to be hearing more great posts from you now that you're in!
God bless you,
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."