I am a soon-to-be college graduate who wants to start a independent career with REI. I have read almost every “How To” article and now feeling the effects of information overload. As of right now, I have around $500 that I can spare to get myself started. My question is what is the best way to get started? I realize that I need to concentrate on ways to generate cash fast. Several How To authors seem to cover this area quite well. Which one would work best for my situation or should I forget buying a study course and use the information I have taken in from this website? Would appreciate any advice from more EXPERIENCED RE INVESTORS!
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If you have questions please write
My wife and I have been doing this for almost 1 year, last year I watched tapes( I bought
3 yrs prev. and set them on a shelf-)
Our lives are a day and nite difference we own 38 now (i think) put in aprox 5 to 8 offers a week
we stand to make aprox $80,000 over the last 4 mo. work and were having the time of our lives
doing it - at first Annette was a bit skeptical but now she loves it …
I tell you this not to brag but to find a direction and GO…
1st tell your husband you love him— and you have a desire to make this work –
ask for support and help
2nd leave the house and drive for dollars . Go hunting for deals drive streets that you want to own
houses in , look for signs of vacancies empty houses— (things like no electric meter on the side of
the house , yard not mowed NO curtains or signs of life) write down addresses.
3rd find out who owns the houses ( you can ask people around the house)
go to the court house and find out . ( get a copy of the tax card, ask them for help figuring
out what it’s worth) ( in Tenn. its on the net — for free) !!! then call from the phone book and
ask is the house for sale get a price tell them you will call back–
4th find out how much its worth look at the tax card it will tell you what it sold for in the past , call a
Realtor ask what they think a house is worth on that street ? dont tell the number unless you can trust
them. You can tell year , size, bdrms,bath
look at how much It will rent for , call on the for rent houses ask a Realtor
5th AFTER YOU GET HERE WRITE ME BACK WITH 3 OR MORE DEALS
you have to become a deal finder-- a person who is looking for good deals
trust me when I say there are so many you will NEVER NEVER NEVER run out of great deals
if you found someone who has a bike for sale for say $10. you look at it and say this is worth $100
and you had 5 people on a list at home that would buy it today for $100 . would you buy it today ?
a house is the same thing just change the numbers a little…
IT’S YOUR JOB TO FIND A GREAT DEAL bikes or houses----
Kory, you might consider lease options in addition to flipping/wholesaling properties. You might want to get a hold of Ron LeGrand’s 1996 book entitled Fast Cash With Quick Turn Real Estate. It may give you some ideas on how to get started with $500 or less.
If you are in Portland OR, The $500. can be used as gas money to find deals to flip to me. I will buy any and all deals and will either pay you for assignment or partner and share 20% of the profit after sale.
Pat