I Need A Mentor And To Make Some Quick Cash.
I consider flipping or wholesale as perhaps this is the safest?
I have access to 100k but I am short on ready cash and a good steady income. I like to learn or find a good property and buy it.
Unfortunately in the area I live buying at wholesale may be a problem as the market is very hot...
Any suggestions?
By the way I am in Sacramento, CA and I will exchange my commodities trading knowledge to real estate mentoring.
Cheers
[addsig]
You can buy wholesale just about anywhere. Lots of people have financial problems. Your job is to search them out and help with their problems i.e. buy their house from them. If they have equity and a problem, maybe you can buy subject to (sub2) the mortgage then lease option to tenant buyer and get some cash along the way in the form of a down payment and a monthly cash flow, then a backend payoff when the property is sold. Read the forums and you will learn exactly how to do all of this.
what I fail to understand is the kind of "problems" we a describing.
If the seller has equity and money problems would not he/she just borrow
from the myriads of lenders out there?
Or RE investors lend below the commercial rate? I don't get it. It seems everyone would want to "help" the guy in need and try to get a good deal. Why would the seller be interested in me?[ Edited by andrasnm on Date 10/28/2003 ]
you would be surprised how many people wait too long to solve their problems. If you are diligent you could be the one that is able to solve their problem quickly & make some profit for yourself.