Posted by Donald on July 05, 2003 at 22:05:27:
Clem,
A carpenter with a 100k cash? You won’t have any trouble, once you do your homework and work out a system that Clem can live and sleep with.
(Cash is king)–I do feel that you should try to get into every deal with little or no cash…
(Credit is king)–One of the keys, in real estate investing, is to build and maintain good credit.
Don’t waste your time searching for houses, search for motivated sellers. Find an owner who tells you-- “I don’t want it, here’s the deed, just take it!”
my 2 cents
Donald
Whynot Rehab? - Posted by Clem
Posted by Clem on July 03, 2003 at 09:37:38:
I have 100k, am a carpenter and want to start my way into real estate by rehabbing. I figure that I could do one or two at a time to start to get my feet wet. I also would have money for the projects. Sounds like a great idea to be doing what I like without having a customer breathing down my throat. Any ideas as to a wise way to start this. I think I am on the right track by buying as low as I can and there in turn rehabbing as quickly as possible. I am thinking either one, two or three months tops - preferably one month. I am thinking about single families only in decent family neighborhoods with decent school systems. I know that the school systems and the neighborhoods were the only reason for our buying our first home. Any advise would be helpful before I decide to take the plunge
Thanks,
Clem