Re: Which way to go?? - Posted by Russ Sims
Posted by Russ Sims on January 16, 1999 at 16:15:05:
As for your transportation problem, I think you’d do well to find a real estate broker who is willing to work with
you. Simply call them, explain that you’re having a temporary transportation problem but that you are indeed serious
about investing. A motivated broker should have no problem picking you up to look at properties. The exception
here would be properties for sale by owner.
As far as cruising neighborhoods, I prefer to use a bicycle. It’s hard to go slow in a car without getting run over! A
bike alows me to be much more astute about the property and neighborhood.
The Sheets course is a great plan for slow wealth building but falls short when it comes to getting fast cash to pay
pressing bills. I’ll tell you my plan. I’m a new investor as well. Finished the Sheets course in Oct. and am closing
on my first deal the 28th of this month. This deal involved me buying a new personal residence and selling my
house under a lease/option. I was floored by the ease of finding tenant/buyers for my house. I placed a $6 ad in a
weekly paper and got about 30 calls. I signed my tenant/buyer last week and turned down 2 other serious buyers.
All this at a time of year that is supposed to be difficult to sell a home (the Holidays). The relative ease of this
transaction made me realize the power of lease/options.What I will concentrate on in the coming months is buying
properties below market value and flipping them at FMV with lease/options. This will give me a strong passive
monthly cash flow (with minimal landlord headaches) and it will guarantee me at least 10k a year or so down the
road for something that only took a few days to put together. Add to this the satisfaction of helping someone realize
the American Dream! My plan is to do at least 5 of these deals this year. I’ll educate myself beyond the Sheets course
by buying Ron Legrands book on flipping and Joe Kaiser’s course on lease/options.
Well, just some ideas for you. Don’t ever hesitate to post your questions on either board. There are many
experienced investors that will take the time to help you (God bless 'em!).
The best of luck to you!