Hi Mrssandi, The fasted way to make money in RE is to find vacant boarded up houses and wholesale to rehab investors. The fasted way to find those is to drive the lower income areas. If u need help just send me a private message.
Rando
Hi Mrssandi, in addition to wholesaling like Rando mentioned, you may also want to consider finding sellers in low and moderate income neighborhoods in your area who are in a distressed situation and are willing to owner finance their properties. You are primarily looking for income properties - single family to multi-family units that cash flow monthly after gross rents deducting all expenses. In middle and upper income areas, you may find lease options work better for you and the sellers. You can find these properties by running marketing and have investors and sellers call you, to drive through
these areas and find realtors who are willing to work with you and know what you're trying to accomplish. You also want to find properties that are only cosmetically distressed and free of any major structural flaws that need repair. As far as funding deals, you can find private equity lenders, mortgage brokers, and other investors who may be willing to partner in your deals - just ask around. There are also multiple ways to finance properties creatively in favorable circumstances. Lastly, just realize that not every deal is going to pan out the way you wanted, so just keep at it and you'll do fine. Hope this is helpful.
Loren
__________________
"Whatever the mind(of man)can conceive, and bring itself to believe, it can acheive." - Napoleon Hill
"You become what you think about most of the time." - Earl Nightingale
Thanks for the insight! I'm getting started in the NW Suburbs of Chicago. Not many low income areas here. Any ideas of what to focus on? Thanks in advance.
Thanks Loren for all that great advice you gave Mssandj. I read it and I want to start by reading Dean's Books . I to am interested in wholesaling. I have very bad credit and I want to jump in by just finding properties for buyers and taking a small fee, Do you have any advice for me?
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Hi Mrssandi, The fasted way to make money in RE is to find vacant boarded up houses and wholesale to rehab investors. The fasted way to find those is to drive the lower income areas. If u need help just send me a private message.
Rando
Rando
Hi Mrssandi, in addition to wholesaling like Rando mentioned, you may also want to consider finding sellers in low and moderate income neighborhoods in your area who are in a distressed situation and are willing to owner finance their properties. You are primarily looking for income properties - single family to multi-family units that cash flow monthly after gross rents deducting all expenses. In middle and upper income areas, you may find lease options work better for you and the sellers. You can find these properties by running marketing and have investors and sellers call you, to drive through
these areas and find realtors who are willing to work with you and know what you're trying to accomplish. You also want to find properties that are only cosmetically distressed and free of any major structural flaws that need repair. As far as funding deals, you can find private equity lenders, mortgage brokers, and other investors who may be willing to partner in your deals - just ask around. There are also multiple ways to finance properties creatively in favorable circumstances. Lastly, just realize that not every deal is going to pan out the way you wanted, so just keep at it and you'll do fine. Hope this is helpful.
Loren
"Whatever the mind(of man)can conceive, and bring itself to believe, it can acheive." - Napoleon Hill
"You become what you think about most of the time." - Earl Nightingale
Thanks for the insight! I'm getting started in the NW Suburbs of Chicago. Not many low income areas here. Any ideas of what to focus on? Thanks in advance.
Thanks Loren for all that great advice you gave Mssandj. I read it and I want to start by reading Dean's Books . I to am interested in wholesaling. I have very bad credit and I want to jump in by just finding properties for buyers and taking a small fee, Do you have any advice for me?
First of all you guys should fill out your Bio page so that we can learn a little about you, where you are and what your goals are.
Step one should be to read Dean's books. The answers to your questions are in the books! Wholesaling is explained in detail.
Good Luck!
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site