Posted by SueC on March 09, 2001 at 09:42:29:
Hi Jason, how great that you bring your 3 year old, my 2 year old seems to love rehabs already… or maybe he just likes wearing the boots…
Anyway, I’m fairly new too, here’s what I’ve found. You want to check the posts here, there was just a big thread about finding comps on the Internet. You can try your favorite RE agent (but then you have to cut them in your deal), or possibly call your county recorder of deeds to see if they offer info online (mine does).
You really need to locate motivated sellers, not just houses for sale. What books are you reading? they might offer some tips. It will take some time getting to know your market, which means you’ll make some mistakes. But that’s how you learn. Read everything in the Articles section here, and also search the Archives, to learn how to talk to your seller, what kind of deal would work best, and how to set it up. Being very new at this, you might try to find an investor to flip to thru your REI group, and then ask if you can watch how they do it to learn the ropes (hey, if you make them some money,…)
If you find that one of the FSBOs will lease-option to you or sell subject-to, then your credit won’t matter so much. Keep in mind that you are looking for a motivated seller, who will be willing to do a deal regardless of your personal situation, they just need out! Education is most important because as you learn new techniques, you’ll learn what options you have on any particular deal.
Read the thread below, but be sure to check the archives as this question has been asked many times, and there’s lots of info available! Best of luck!