Posted by Brad Crouch on May 01, 1999 at 12:28:36:
Frank,
You’re probably not going to like this, but it sounds like you need to hear it.
If you have a place to live, for free . . . you should consider staying there as long as you can.
There is a school of thought that fulfilling the American dream by buying a house is the “ultimate” goal. However, to put yourself under the pressures of home ownership at this point, may not be the best thing for you.
Simply put, you don’t have enough money or income to successfully pull this one off. At this point.
I would suggest that you learn all you can about real estate investing, and start out with “wholesale flips”. This doesn’t take lots of money, only education.
If you apply yourself, you could probably be out of your current situation within a few months. Read all you can on this site by Jackie Lang and Scott Britton. Also Ron LeGrand.
Keep us posted on your progress.
Good luck,
Brad
Purchase Contracts?? - Posted by Frank Sanchez(TX)
Posted by Frank Sanchez(TX) on May 01, 1999 at 09:36:45:
Hi,
I’m very interested in starting out in real estate investment and I like Jackie Lange’s Quick Flip Primer how-to articles. From what I’ve read this seems exciting and fun to do and not to mention bringing in some money. I was just wondering if I could use the purchase contract that came with my CS course to do this? My first goal is to buy my family and I our own home. I don’t make a whole lot of money so I can’t (right now that is) really afford a whole lot of house but i want to get into one pretty quick 'cus it really sucks living with family…lol. All I have right now for buying house right now is $1000.00 and I can only afford a payment between $450-$650. I really don’t have a whole lot of money to invest in all these courses (the prices are pretty steep for me right now ) but it seems that “flipping” is the way to go when you’re just starting out. I was wondering also if anybody can point me towards REI’s here in San Antonio, TX. Thanks.