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I am getting ready to start looking for my first investment property but need a little help getting started. My 1st instinct tells me to start looking for a home where someone is facing foreclosure then negotiate a short sale. At the same time I know many Realtors out there helping people short there homes just to get them sold and think there may be too much competition. I am looking for another method to acquire real estate that is low risk and requires little or no money out of pocket. I am getting ready to start marketing and want to make sure and attract the right sellers. Since this will be my first real investment, I want to keep the risk low and will settle for minimal profit as long as everyone wins. Let me know if you have any ideas.
Great Travis,
In my earlier writing I mentioned the seminars (which are great), however really meant the “learning center” here on CREW as you can view the lessons right now without waiting for the seminars to happen. I review a learning center regularly to review and reinforce good practices.
Happy Investing,
Hank
Travis,
It’s great that you are ready to invest in real estate!! To me, the easiest and safest way to get started is to get some info about real estate investing before you get started. The seminar section of CREW is very valuable to teach you to MANY ways to invest in real estate and to minimize mistakes (and they can become expensive) and risk to you.
In my opinion, short sales is an advanced real estate methodology (and depending on which state you live in there are very limiting laws); I know folks who have started with short sales, however the learning curve is very steep and short sales are usually a long drawn out process ( 10 I’m currently working are into their 6th month without an end in sight).
To best fit the parameters you wrote about and to get some quicker $$$ in your pocket, I’d suggest wholesaling property and/or getting owner finance deals is the best way to get started. There is too much involved in either of those methods to cover them here; again I suggest you review the seminar section for those topics and you’ll get introduced to those methods by Jack Miller and some other proven masters of the real estate business.
And folks on this forum will be able to suggest different ideas regarding your questions/challenges about specific deals you have going.
Hank
Travis,
Short sales are the hardest and most time consuming kind of real estate you can do. I would not recommend short sales as a way to get started. The other problem is that they require that someone comes up with a chunk of cash to buy if the short sale is approved.
Wholesaling is the easiest way to get started. It will provide cash that you can use to buy subject to or with seller financing for houses you want to keep
We’ll be here when you need help
Jackie
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