One thing I learned a long time ago is that in this business you want to have connections…a network…people you can get information and perhaps help from. I doubt you’re going to get that from lendingtree.com.
For example, I have an attorney that I do business with. I incorporated my last corporation through him. In doing so I may have spent a little bit more (not much though) than I would have had I used an online source. But on the other hand, it creates business with a local guy. This guy has fed me various deals, which together have put quite a few dollars in my pocket. I put some of those back in his pocket when I need some legal services.
Remember this…it’s a people business. My trash guy turned me onto a great deal on a duplex. My barber has sent me several deals. Title companies, lenders…everyone can be your eyes, ears, and source of information.
You have to love the internet…I know I do. But don’t ever forget that the real estate business is about people. Let me know when lendingtree.com emails you with a hot lead on a new property.
First, let me introduce myself. I’m 26 y/o and live in Virginia. I have worked in the allied health services field for the past seven years and have never purchased any property. I have a BS in sociology and am currently half-way through an MBA program. Several years ago while staring at an apartment building out of a public building I had an epiphany. I realized that apartments (and rental property in general) could be an excellent way to provide a perpetual income. Fascinated by this realization I began to search for any information I could find on how to become a real estate investor. First, I purchased the Carleton Sheets course. This course got me very motivated and provided many new ideas. However, after finishing the course I realized that I had many new questions that the course didn’t answer. My next course was the Poor Man’s Guide to Real Estate. Although this is probably a fine course, it didn’t really address the type of real estate investing that I was interested in: buy and hold. An exhaustive internet search led me here. This place is the ultimate source of information for real estate investors.
Now, my question. Has anyone ever used Lendingtree.com as a source of financing? This approach makes a lot of sense to me. You never have to deal with a stuffy business exec at the bank. They never get to make an opinion about you based on appearance (they never see you). Plus, since the banks are competing for your business, you win with the best deal. Now, I know that the whole idea of creative real estate is no-money-down. However, I don’t want to limit myself if I find a great property that wouldn’t necessary lend itself to a creative type of deal.