OfflineMy husband and I are getting started. We've put the word out that we are looking for good deals. We have no money & no credit so have been talking to those w/ money and credit. Now we have a handful of folks who are ready to move on a good deal and we aren't even finished the first book yet. Next week, one of my husband's investors wants to meet with him. We are going to look for properties today, but I'm just wondering how to proceed...There are tons of homes on the market - some listed and some FSBO. We are in the New Orleans, Louisiana area. Any advice would be appreciated. We plan on winging the meeting but it would be good to actually sound like we have a plan 
Thanks a bunch.
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Check out the forum topics under buying forclosures, etc. Also, check out this thread I attached. This is in dean's first book. Good Luck! It sounds like you're off to a great start. How did you find your investors?
http://www.deangraziosi.com/node/42
When you meet with you investor you need to find out his buying criteria.
How many bedrooms, baths, age of house's he buys, condition, size, area, if he minds doing total rehabs or does he only want houses that need light rehabing or just cosmetic repairs. A lot of investors will tell you they will only pay 40% or 50% of ARV...they all know how much they will pay based on the ARV. So you have to buy cheaper than they will pay so you can make sure to get your profit.
Find out if he buys with cash and how fast he can close. If he uses FHA you cannot close a assignment deal cause you have to own it for 90 days.
Stay away from FHA!
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
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Basically we found people just by creating the buzz...of our two most promising, one is a relative who lives out of the area but wants to move back. He is ok with a duplex or fixer upper but wants a deal...another is someone my husband met while bartending. He just struck up a conversation with a stranger. Also we know a couple of business owners with money but no time who have profited from real estate in the past so they are believers.. just looking to us to "hustle it up."
Its great to see such initiative. Jump on it and dont let it waver - you are on to a good start
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
I wish I had your problem. I am trying to get investors but hitting road blocks all over the place. Maybe it's harder in NY, I am not sure.
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