HELP! New Investor/First Home in OC
For a first timer, where is the best place to start: pre-foreclosure, Trustee Sale or REO?
Is it possible to get into a home or condo for less that 100k in Orange County? My plan is to buy a modest home/condo, live there for one year or less, make some improvements, then sell at a profit and continue this process until I have enough capital to own a home and invest in other properties.
Any advice?
shanaxo,
Glad to meet you.
Wow where to start as a new person, seems I have seen this questions a few times.
It is not up to anyone to tell you where or how to start. That question can only be answered by you.
After you have studied the various methods of investing, plugged in your financial situation, you will eventually answer your own question.
Welcome on board this board, just keep on posting asking questions, soon these muddy investing waters will start to clear up and your path to successful investing will be self evident.
John $Cash$ Locke
Shan, it sounds like you have a plan already. Pursue your goal. However, John is too right, no one can tell you what is best for you, only you can answer this question.
Thanks for the advice. There is so much to learn, and it can be intimidating.
Any advice on what not to do?
Also, what is the atmosphere of the trustee sale auctions? The beginning bids can be under 4k. This may be the pessimist in me (or the realist), but the homes must sell for well above that. Are there many potential buyers bidding for these homes. Is it possible for first timers to get in there and get a good deal? This may be something I have to check out for myself.