Posted by Jim IL on February 21, 2000 at 23:02:05:
Norway,
After reding your post, one part stood out for me.
You said:
“Sooo, that’s why I’ve begun looking for properties as if I were to invest in them. Is there a way to look for the right ones?”
Many of us have been there, and done that. You are looking for properties, when what you should be looking for are “sellers”, motivated, desperate, ready to sell NOW sellers.
You can and will find them. The property is important, but secondary.
So, if you see these FSBO’s, call them, and also call the FRBO’s.
Make some flyers up, place an ad, and pass out business cards.
Evaluate the sellers first, then the homes.
You have been here lurking for a year, so you should have already read some posts and articles about this.
But, if not, goto the articles page and read the ones about finding motivated sellers.
Once you learn to do that, you will make some deals.
The Backdoor way to start investing in RE…?? - Posted by Norway59
Posted by Norway59 on February 21, 2000 at 22:51:02:
I’ve been back and forth to this site/forum for almost a year now and I still have not begun yet. If you know what I mean.
But recently, a situation arose when my grandparents(whom I live with right now), are considering the B-word and may have to include their house. Without getting into personal details, my grandparents “could” still be working and paying down their debts, but alas, they cannot anymore. And I don’t exactly match their incomes, so whatever I’ve got is scraps and not enough.
But I was thinking, this could be a venue, or a way to finally start “investing”. I guess the first property I would consider investing in would be one that I don’t sell and keep for them, but I keep running into that stupid wall that stops me. There’s no room for a large downpayment right now and looking through the classifieds, “Housing For Rents” has nothing. Sooo, that’s why I’ve begun looking for properties as if I were to invest in them. Is there a way to look for the right ones? Is it too much to think the seller wouldn’t care about getting a large downpayment or that being naive? Seller financing could help, but it’s far and few in between. I do see all of FSBO’s in my area, is that a good way to start?
If nothing else, this good FINALLY kick start everything for me.