Posted by david cech on January 23, 2002 at 05:01:15:
Have you ever thought of moving Just kidding. Can you drive to areas that are better priced? other wise it is nessesary for you to order Sheets Creating Quick Wealth with partners. These strategies are nothing but perfect to bring a few people into a deal you could never afford on your own. Make sure you do a good cash flow analysis since your area is so pricey before you put any deals together. Dont forget a management fee for the property, this is your seed capital. Find a duplex or maybe a triplex to start with and get one two or however many partners is needed for the first deal. Write a creative offer so you can get in with little down or Use a short term Land contract if you have that out west. Sell your new car and get a beater for a little while thats your share of the down pymt. Believe me in the long run it will pay back 10 fold. No deal is to big for creative financing. If its on the market they want to sell . The ? is how can you buy so it will work for both parties. You can use partners or creative financing or both. Offer terms to the seller after you find out what the seller wants. Some of these big equity holders in the pricey properties you speak of do not want to take a 300000 hit on thier tax return this year. These people will often accept a note with interest to be agreed upon. Do you know of any RE investment clubs . Older investor selling some properties may be willing to deal? How about taking an add in the newspaper to let people know you buy real estate then write some creative offers.All anyone can tell you is no. So then write another offer! Keep writing until you get your first deal.Goodluck From oshkosh wi.