Experienced Investors - Please Help
Hello! A co-worker of mine told me that he wants to buy a home, but has had trouble getting approved for a mortgage. I got to thinking, hmm, perfect candidate for a L/O (or so I think). He would be looking for the typical 3 bedroom/2 bath home, with a decent sized yard.
I'm new to RE, so I have no contacts, and no previous experience yet. My main goal is to help him find a home for his family, learn anything I can about investing, and possibly make a little money in the process.
Could anyone please give me advice on my options?
Suzanne [ Edited by smhfl on Date 11/03/2003 ]
Where are you from? I think that would help getting some answers. Good luck to you by the way!
[addsig]
I am in Jacksonville FL any advice is welcome!
-Suzanne
Suzanne,
Your in the backyard of one of the most sucessful investors out there. I would say look into getting Ron Legrands course or John $Cash Locke's. If you can't find something these courses will help you out a ton.
[addsig]
Thank you for your comments. I will look into these courses. I think honestly, I might not want to get involved in this transaction personally, and would prefer to tag along and learn the ropes (maybe collect a small finders fee) if everything works out, since that This gentleman works with me.
-Suzanne
What he, or you, if you are going to be involved, are looking for, is a motivated seller, instead of a particular property. To a motivated seller, their property has become a weight around their neck, rather than the dream home that they raised their children in. When a seller becomes very motivated, they can be persuaded to step out of the conventional means to get the house sold. If you buy a course, this is explained as well as the methods you can use to acquire property without a lot of money down, or bad credit.
Good Luck,
Shawn(OH)
I'm in jax also, how about looking for rental signs in neighbohood he would want to buy in then go to jax property appraisers web site and find owner. Make him a l/o offer.