No, if I were you (and frankly even if I were me which I am), I would walk away until you know what you are doing. Not only is education imperative to begin with, but when you start messing around with $200 to $300K homes, that’s a whole other picture. You HAVE to know what you’re doing, ESPECIALLY if you don’t have a clue where the funds are going to come from.
There are a ton of things on this site that will shed light where need be.
Get educated and good luck,
Adam
I am brand new!! I just know a little to be dangerous. I wasn’t going to get started until about 6 months from now becuase of my knowledge. BUT, I am going to look at a house this weekend that the seller has put a price of 110,000 on. Other houses that have been rehabbed in the area have sold for 300,000 + .
I have no money or credit. Can I put this on a 90 day contract and then look for find an investor to rehab? Should I even try? I don’t have much knowledge.
If I can have a 90 day contract, what should I structure and then how can I get a buyer?
Please help, I may or may not due this, I just know there are many well qualified people in this forum, and I love it.
Please help, would like to make a decision to go ahead. Of course it is all going to depend on if the seller is willing to do it on contract.
Josh, call some local investors and ask them what they pay for a “finders” fee? Find out which investor has done a couple of deals, and is able to handle this property. You, might be able to receive a couple bucks from the investor for giving him/her the lead.