Hello all, I recently found a great opportunity to take a rental property off someone's hands here in Bellevue, NE. I talked with my quasi-realtor (which is also my landlord), and he says he has someone that is looking for an investment property. If he doesn't work out, my boss has some money and may want to pick it up also as an investment property. These are my only two options for buyers right now. There are no REI clubs here in Omaha, so I'm lost as to find other investors as to where to go.
All I have to play with in terms of money is $300, and even that's pushing it. I can touch that in a week and a half from now. I'm very broke; I usually collect cans for deposit money so I can get to work for a day. It's just a bad time right now, but I'd really like to lock in this deal and get started!
I know the property can be picked up for cheap, and sold for a decent profit; I can just tell that from the guy. He would probably be positive towards doing up a contract with earnest money. However, I have not asked him any of this, nor do I even know if the property is in horrible shape!
I'm about to call this guy and get something started, at the very least an address and do the research. I have a good idea what to do...but I really want to see what you guys say, and if I'm getting myself into a problem due to my shortage of funds.
I know there's missing pieces to this post, so if there are anymore questions, pls ask!
Thanks! Jason
Hello all, I recently found a great opportunity to take a rental property off someone's hands here in Bellevue, NE. I talked with my quasi-realtor (which is also my landlord), and he says he has someone that is looking for an investment property. If he doesn't work out, my boss has some money and may want to pick it up also as an investment property. These are my only two options for buyers right now. There are no REI clubs here in Omaha, so I'm lost as to find other investors as to where to go.
All I have to play with in terms of money is $300, and even that's pushing it. I can touch that in a week and a half from now. I'm very broke; I usually collect cans for deposit money so I can get to work for a day. It's just a bad time right now, but I'd really like to lock in this deal and get started!
I know the property can be picked up for cheap, and sold for a decent profit; I can just tell that from the guy. He would probably be positive towards doing up a contract with earnest money. However, I have not asked him any of this, nor do I even know if the property is in horrible shape!
I'm about to call this guy and get something started, at the very least an address and do the research. I have a good idea what to do...but I really want to see what you guys say, and if I'm getting myself into a problem due to my shortage of funds.
I know there's missing pieces to this post, so if there are anymore questions, pls ask!
Thanks! Jason