First time investment... - Posted by Jeff

Posted by Jeff on October 27, 2003 at 15:32:38:

I went to Nationals for DECA my senior year…email me if you have any questions. I went for business service management though.

First time investment… - Posted by Jeff

Posted by Jeff on December 24, 2002 at 20:02:47:

Hi, my name is Jeff. I have been spending a lot of time trying to educate myself on real estate investing. I’m 18, and have pretty much no money to start with with exception to the money I can get from my parents and grandparents. I feel like I have a pretty good grasp on the basics of real estate investing. I live in Milan, MI, and I have done some research on the area. There is an average appreciation of 5% per year, and it’s going to go up. There was just a new school built, as well as two new subdivisions, and a target and a few other large stores that will attract a lot of attention. Property values are bound to skyrocket soon. So…I was looking around today and found a house that was foreclosed, and now owned by the bank. I went to the house and looked at the area. The house isn’t a complete disaster, but it needs some pretty heavy repairs. The market price on the house is 94,000, and I would estimate the repairs around MAYBE 20,000…not much more than that. Having not much money to put down, and not much money for repairs (possibly a Title 1 loan?)…is this a feasable property to reap some profits from? I am looking for some experienced advice, because I’m just starting out and don’t want to get burned. Could I somehow rent it out? Lease/option (not clear on the specifics of this…any good FYI on it?)? Or any other ideas or suggestions? ANY AND ALL help will be greatly appreciated, thanks for your time.


Re: First time investment… - Posted by Missy Parra

Posted by Missy Parra on October 27, 2003 at 09:20:24:

I’am a High School Student in Laredo Texas. I have grown to appreciate the Real-Estate business. My brother works with a local Realtor called Wright Realty. This year I am competing with the annual DECA (Distributive Education Clubs of America). In hope of competing in the Entreprenuership Written Event based on the Real-Estate Business, I ask of you for help. In this competitive event I have to open a successful business in Real-Estate. I have to prove to the judges that i have what it takes to be a successful entreprenuer.

Please help with advise or whatever you can send me to educate myself on Real-Estate.

Missy Parra

Re: First time investment… - Posted by Travis (Dallas)

Posted by Travis (Dallas) on December 25, 2002 at 15:54:14:

I’m sorry that I didn’t respond the first time I read your post.
You are to be commended for not giving up and for not letting your age hinder your real estate dreams.
Are you saying that the house will sell for $94,000 after it is repaired? What would your purchase price be and do you have someone to help you with the repair estimates?
One way to learn is to buy a house for you or your family to live in or to help someone your know buy a house.
Join your local real estate investment group and search the archives here for information on getting started.
Good luck,
Travis (Dallas)

can anyone help me!?!? - Posted by jeff

Posted by jeff on December 25, 2002 at 14:53:06: