Posted by Frank Chin on February 16, 2001 at 17:17:48:
Here’s some ways I know people have used:
1- Flip the property and do the rehab during the contract period. This way you don’t have to get a mortgage. Have the seller agree to your putting investment in rehab (the $10,000) in lieu of a deposit.
2- If you put an ad for handy man specials, how about an ad for investors. You can do your own fixups plus fixups where you share the profits, with you being the dealmaker.
3- Someone I know work part time at a Real Estate office. He gets to look for things while driving around plus hooked up with a few investors that way. Selling homes for the broker was somewhat secondary.
4- Lease Options -
I guess a business plan here wouldn’t hurt because you’re doing it full time. I’ve quit my job last July to do this full time myself, and I’m in the middle to coming up with my own plan.
Good luck investing.