Posted by Redline on December 05, 1998 at 24:04:44:
Before you go find buyers, brokers or property you need to get solid in your education. You need to study, read, and study some more.
Once you decide what sounds right for you - then proceed. For a beginner with not alot of cash, wholesale flips (where you contract and property and turn around and sell it to a rehabber for profit) and L/O offer promise because they require little/no cash.
Find out what you like, then study like mad. Find people to talk to (like here and in your area), and then get a good professional team behind you. You’ll need sound legal advice and solid contracts/CYA documents.
New Investor: First steps - Posted by Calvin Henry
Posted by Calvin Henry on December 04, 1998 at 23:39:35:
I am new investor,I have been doing alot of reading and I got interested in real estate by purchasing Carlton Sheets No money down course. I’m confuse after going through the course and then finding this web site. I find alot of conflicting views about were to begin. I don’t won’t to get into alot of debt but I have decided to focus on Lease/option and rehab properties. My question is should I go out and find properties or find buyers? Should I look for some real estate brokers? Can anyone help?
Forget the real estate brokers. L/O usually require that you get in with low down. Paying a broker won’t get you there. If you put an ad in the paper all you will have is a buyer lists. Unless you are doing this full time your list will get stale. If you go out and find the property then you have a specific property as a product to sell. Build a buyers list from that. Then farm the area for more product.
It is the opposite if you want to flip a rehab. It is much easier to do your homework and find what investor buys in an area so that when you find a rehab you will know whom to offer it to.