Posted by Ronald * Starr(in No CA) on August 27, 2003 at 11:20:07:
I recommend my post for beginners: put “beginners success” into the search function of this main bulletinboard forum of this CREONLINE.COM website.
Soulds like a slow real estate market where you are. You probably can get properties with no money down or minimal money down, with the owners carrying the financing for you, thus no need for institutional or hard money lenders.
What is your plan? Long-term hold or quick turnover? I suspect that the latter will be difficult with some much competition, but if you can buy at least 20% below market value, you may be able to be the first one to sell by offering to sell at below market value.
You need to get out and learn the market values of properties in the area. What is selling and what is not. What people are looking for. Also investigate what is happenign with rental properties. Talk to other investors in your area. Talk to the real estate people. But don’t start buying or shelling out your moeny until next spring. You need to learn a lot before you move, in my view.
Good Investing******Ron Starr************