OfflineHi folks, My husband and I purchased Dean's book and read it through, although I am sorry to say that we have not acted on the info much. We did contact a real estate agent, who sorta discouraged us, and we have just let things go. Other things in our life have gotten in our way....OK, now I am done with excuses.
One thing that is bothering us is we need help and suggestions for ourselves regarding our own home...we are 75 and 62, and live in a split foyer, two story home. The main living is on the top floor, so every way you go, you MUST go down stairs. Bringing in groceries and moving some furniture downstairs is not only very hard on us, but risky as well. I am so worried that one of us will fall and hurt ourselves badly. We are both in great health, but that could change if we fell.
On top of all that, we recently had to file Chap. 7 bankruptcy because of credit card debt, that we got into while trying to take care of my elderly mother who has since passed away. (We sound like a sorry bunch, don't we???)
Anyway, can someone tell us what would be a plan of action we could take to get outta here??? I am not inclined to just live in a rental home, unless it is a lease option that we could buy when our credit clears up. We also have dogs and we are not going to get rid of them (3). Any dog lovers out there will understand what I am talking about.
I would appreciate any and all suggestions, we are at our wits end about what to do. We really want to get active in real estate and have committed to do that this year. Thanks so much for your time and sorry this is so long. Susie
Hi Sussie,
I'm new with Dean's Real Estate system and he's right. If you read the books and take no action, nothing will change. So take action. Who really knows what will happen? That's what I'm gonna find out. So I am reading my first book "Be a Real estaste Millionaire". It is not easy for me. I have never done anything like this before; but I am currently on my first step and first chapter "knowing your real estate market" and you have to review what is applicable in your area so as to know what strategy to use. Then try to build a buyers list. Don't worry about sellers because there's a lot of them. I could be wrong but when I was working and reviewing information, data shows real state prices will go higher each year starting 2012. Forecast shows until 2020. I Live in Anaheim California. I hope this information helps you.
Randy
that's great that you've taken the first step to real estate investing; this site is full of great helpful information; you can enter a word in the 'search' box on the top left of the home page and then press enter, and all the threads that have been written about the topic will come up.
I'm wondering if you have any equity in your property; if so, maybe you could sell it, and use some of it as a down payment for a lease to own property...
If you don' t have any cash available, you will probably need to do some fast cash deals to build up your cash reserve; short sale your property and lease to own another...
wishing you great success,
valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Susan I see you are In Monroe Georgia you should try to make a connection with one of the more seasoned investors here. They can get you out of your home and help you get another,with a L/O deal win win.Hope this helps.
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10
Perhaps you could put an ad on ebay or craigslist to find a new home for yourself then rent yours til the market comes back to sell it. That would get you on level ground and possibly give you cash flow on your home until a later time. That would be a start.
I would suggest you put a sign in your front yard (RENT-To-OWN) If your house needs work figure out what it will cost to fix up.
Then when you start getting calls tell them you need (Add repairs +mortgage payment,Taxes and Insurance+ monthly cash flow about 200 to 300 a month) These will be your terms.
Take that money and put money down on a Rent-To-Own for yourself.
Jay C
Jay C
WOW!!! Thank you all so very much for all your input. My husband and I are discussing the ideas you gave us, and hopefully we can come up with a solution. We are aware of one thing though, we really need to get on track about real estate investing. We have started re-reading the books and I am looking over this site and reading all I can. You will be hearing more from me regarding our progress. Again, thank you so much for responding. You are a great group of folks!!!