Posted by Tabby on May 01, 1999 at 08:59:05:
I am really interested in Real Estated investment. I studied more than 30 text and manuals. I am thinking of getting into Apartment complex.
However, all my friends are very negative about my plans. I know that I have to get over this fear by purchasing the first property. I prepared agreements to some sellers in my area. But they all wanted CASH up front or accepted 5%-10% 2nd! Thus, not-so-creative methods are ways to go…I think.
Are there any players in Southern California? I need a good coach to purchase the first property. I already contacted Century-21 agent and got MLS listings…ready to go. There are some properties with attractive figures.
BUT, my problem is that I have a terrible credit. Good news is that I have a rich friend who can supply me some money. So, 10% on $600,000 is OK (if it is really needed to close the deal).
Also if anyone recommend the good source for CASH on commercial (apartment) property, please let me know. For example: 10% down, no credit check, etc.
Sincerely,
Tabby
Torrance, CA 90504