OfflineHello everyone, I just started in this program not too long ago and well i've been having some trouble looking for the funds to help me buy the homes so I can sell. Anybody know of a list of lenders or a way of getting these funds? Im only 20 and a college student, so not many banks or lends are willing to help me out you know.
Please and thanks.
S.M
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That's one way to go, Insider Cash, good luck ^_^
Be happy and go healthy ^_^
Ling and/or Dustin
alrighty then will look into that thank you!
, i forgot to mention i never got around getting my own bank account, and well im pretty sure its a good time to get one isn't it
You need to concentrate on wholesaling. In doing this you need no money. You just get the property under contract and then assign your rights in the contract and get a check from the buyer for doing so.
Karen
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Hi, Sal~
Wholesaling real estate property to investor buyers (landlords, flippers, or rehabbers) will help to pay your monthly bills and ultimately build up "seed" money for a future of buying your own properties.
Having an adequate bank account will bring opportunities for possible financing either through conventional loans, hard money lenders or private lenders. It is essential to have a credit score of 650 or higher, so the seed money helps pay one's bills on time as well.
The average wholesale fee is $3K -$15K per deal depending upon the ARV and the potential profit spread in the property purchase. The standard is 5% per contract. However, your fee is negotiable with your end buyers.
Begin by building (and rebuilding) a strong buyers' list with your mission being to find properties they want to buy!
Then get properties under contract to wholesale (flip the contract) to them.
Happy Prospering! ~Kat, Liberty Residential Investment Acquisitions
• "To every thing there is a season, & a time to every purpose..." ~Ecclesiastes 3:1-8
• "Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy!" ~Dale Carnegie
• "Begin, be bold, and venture to be wise." ~Horace
• "Never, never, never give up." ~Winston Churchill
• "Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it." ~Johann Wolfgang von Goethe
ETF (extended Transaction Funding,up to 40 days)and POF letter is available in link below
Mike
Mike
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thanks for the replies everyone well im very new in this, im taking this class that is a part of dean's inner circle and well im just having trouble being able to do all of this and making my fist deal! as for putting a prop under contract im still not sure how do to that and assign my rights on it. I currently live in las vegas but i do want to invest in las vegas and LA california where i used to live