Am I doing this right? - Posted by SteveC

Real Estate Investing
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Posted by SCook85 on March 21, 2000 at 21:54:15:

Seems to me like you have something that is working for you. Don’t abandon something that is working. Instead, make it better or add to your arsenal.

Figure out how to do more of what you are doing, provided you don’t mind it. Then look at other options- that’s the way I would handle it.

Steve

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Am I doing this right? - Posted by SteveC

Posted by SteveC on March 21, 2000 at 21:19:54:

Ive been fortunate enough to have found a motivated Realtor who is helping me(and she) make money. My near perfect credit is allowing me to take advantage of loan programs to buy houses. My Realtor has tenants lined up who at the time cant purchase a house due to credit or they have been on a new job for awhile or they simply dont have the down payment. So far so good. In the course of 4 months, I now have 4 houses. Ive netted about 10k and I should net another 10k when I sell in about 8 months to my current tenants. This does not include the option money I received up front as these are all leases. Problem is there is nothing creative here and I really need to go at this alone. I can see the banks not giving me future loans as I may appear to them as overleveraged. I have so much restless energy right now and i want it directed into being creative. I want to make more money and not be at the mercy of the bank. Any input? Should I ride this out with the Realtor or just be content right now(which Im not!)I guess my real question is where to start on my own. Im learning but im far from being experienced. Anyway, any feedback would be greatly appreciated. This site is so great, I value everyones messages tremendously. Thanks

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Re: Am I doing this right? - Posted by Stew(Nebraska))

Posted by Stew(Nebraska)) on March 22, 2000 at 08:48:01:

I have about 10K and excellent credit that I would like to invest the way you did. Could you tell me the details of 1) How did you sell this to the Realtor. (Since they can’t get a commission until it’s sold)
2) Are you gifting this money to them?
3) Anything else I should know
4) Can you do this without a lot of money

Thanks

Thanks in advance

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Re: Am I doing this right? - Posted by Tom A.

Posted by Tom A. on March 22, 2000 at 06:45:15:

I agree… if it is working run with it. I would not abandon the Realtor who is finding you the properties. You have a free resource working for you that someone else is paying. You may want to make improvements to increase your profits… but be careful you don’t break it.

Good Luck.