Gulf Coast market too fierce? Kill newbie? - Posted by Maggie

Posted by Warner(ATL) on February 22, 2000 at 18:53:52:


You will have ten times more success if you look at properties which DO NOT have “For Sale” and “For Rent” signs in the yard. Look for properties that are abandoned and find the owners. Also, contacting out of town owners as stated above is a very good way to get a deal going.


Gulf Coast market too fierce? Kill newbie? - Posted by Maggie

Posted by Maggie on February 21, 2000 at 22:22:19:

I live in an area on the Gulf Coast of Alabama that is extremely high priced for real estate. For instance, a 900 sq. foot house in one nice little area currently sold for $250, 000. No kidding. This poses a problem for me as I am just starting out in investing (I’m actually still cruising around this site, learning). Finding houses to rehab, which is my interest, is a joke. The millionaire investors have already beaten me to it. My question is, how can a newbie compete in such a fierce market? Is it wasteful or self-defeating to start out in such a stiff market? How far out of town is reasonable to look? I am so enthusiastic about this venture, but I can’t help but be intimidated. No joke, my hobby has been for years driving around towns looking for For Sale and For Rent signs, so the drive is there. Any suggestions would be much appreciated. By the way, I’m 23 and recently quit my $100 week part time job to concentrate on this. Talk about green but committed: that’s me.

There’s plenty out there - Posted by Michael from Bham

Posted by Michael from Bham on February 22, 2000 at 12:28:12:

for everybody…try this, I am just starting to try it myself: get a blank offer form and make offers on every house in a certain area…50% of asking price. Don’t even go look at them right now, since you are looking for hidden “motivated sellers”. There is an article on it here in the “how to” section. “An offer a day” or something like that. Good luck!


Also check out coastal condos…there should be TONS of out of town/state owners…