Decided To Jump In, Where Do I Start?
I have never invested in the housing market (outside of my own home) and my wife is pushing to buy investment homes to rehab and flip. I have established a credit line of around 120K to start (HELOC Loan) but I really do not know what to do next.
I work for Wells Fargo Home Mortgage, so I know my way around mortgage lending and have access to my local MLS and Courthouse Retrieval System. Where should I look for my first purchase? I thought I would use my realtor contacts, but after reading through this forum, they may not be as good of a source as I had hoped. Shoud I hit the courthouse for the open bids, look for forclosures, or maybe even condemned houses (in moderation) to bring back up to code?
Thank you for any comments.
Dont use a Realtor.... If I worked for Wells fargo I would search for pending pre foreclosures
From my experience, real estate agents are really no help.. Go to the court house and get your list of pre-foreclosures.. Also what people ignore a lot is networking.. By networking with the right people, you will find out some vital information that will help you out.. Try to network with attorneys, loan officers, other investors, etc..
[addsig]
Thanks for all of the info. I have decided to bring 2 of my closer realtor friends into play to help with my search. I am noting and researching every point that each of you have shared. I do have one more question, where do I find info for my local REI groups? I have asked a few people locally,but no one seems to know of any groups in this area. Is there a web site I can goto to search by area?
Quote:
On 2005-11-28 09:48, or1gn8r wrote:
I do have one more question, where do I find info for my local REI groups? I have asked a few people locally,but no one seems to know of any groups in this area. Is there a web site I can goto to search by area?
You can start by going to the link called GROUPS on this site. You may find some in your area.
Google!! That is how I found ones in my area.
I have been looking into them myself! I have their "Training Manuals" and "Contract" for "Bird-Dogging" for them. Have you received any of these yet? Their webs sites are "www.redevelopatlanta.com" & "www.atl123.com"....all the same site!!!! If you E-mail me at "ronsenter@hotmail.com", I will send you- via attachments-all of the info they have E-mailed me.
Ron
P.S.: I would like to partner with someone who is interested in this. I also know 2 other companies like this one; which I am also looking into!!!
yep, sub2