OfflineHi everyone, right now I am seriously contemplating if I should go right into buying low cost homes under the market value and hoping to rent it out so I can have some positive cash flow. My dream in this whole DG program is to be landlord and be able to support myself well. I was contemplating to do assignment of contract, but I feel like just getting my dream on the works. I also feel that getting equity and positive cash flow is more valuable then just a single finders fee. Am I jumping off the deep end? Or is this where everyone starts. Insights please. Thank you.
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Hi Dude,
Do you have the cash and/or are you pre-approved for the necessary loans? Do you have the rehab experience to maintain your rental properties? If yes, you are not jumping off the deep end! You might look into section 8 properties under HUD.
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
use both strategies to get you closer to your goal!
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Using both strategies will help you to get more familiar with the process. Using the assignment of contract could also provide some money to buy the cheaper properties to hold on too.
Unless you have at least $250k in liquid cash start with assignments.
You MUST be able to create cash out of nothing in case of an emergency.
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
well my plan is to do assignments to get a car and cash. When I get enough cash to get a property I will buy then fix it up and sell it. Then use that money to get a bigger house. I see the house business like stocks. Buy LOW like now Sell HIGH like later. If you buy enough now and can hold them until the market goes up you will make a killing. Getting equity up might be ok for you but I have been Unemployed for a year and a half I was driving a semi then got let go they fixed it so no unemployment so I used last money on these books hoping to not be broke anymore. and when I get enough money first thing I will do is get a car.
Hi DewtheDewDude
Cbpower is right. Assignment is the way to go until you have created enough of a bankroll to buy and hold. That is going to be my strategy as well.
Milliem