Posted by Arthur on July 19, 2003 at 14:10:40:
Seems like you have a good head on those shoulders, your making a wise move.
But what i would suggest is that you pick up a few books to get you going. They will explain the various stratergies, the pros and cons, and so on. You then have to decide on whats best for you, and what can be achieved in your local market.
Good luck.
New investor lookin for advice - Posted by Rob
Posted by Rob on July 19, 2003 at 12:29:59:
First off, thank you for reading my article i am about to post. I am a young student interested in starting a career part-time from my job when i graduate from pharmacy school to help pay off school debts and help secure my future. As of now i am only researching and checking every article on this amazing site. I intend on taking action when i am through with college because i do not have time to deal with this during school(unless someone can give me an idea to get my feet into the water while still in school that involves little time but while gaining reasonable experience and hopefully some money along the way) my question is my friend buys low-priced homes around $10K along with his partner who pays the upfront cost of the house and my friend pays for repairs. They get a home equity loan and split the money which is all profit and then sell the house in a “rent to own” fashion. I was wondering if one of you would please help me and tell me if this is a good method to get started and please explain some of the issues that come along with doing the “rent to own” method (such as…what happens if the tenant moves out in the middle of the renting period. while renting the house, what responsibility would i hold to them when it comes to repairs and such. and, please tell me if there is a better way aboiut going into this industry making as much profit as possible while putting only part-time work into it because i spend much of my time studying and have little time to spare…
Thanks again,
Rob