Jitters Gone. In Search Of Next Step
Thanks for those of you who posted to my previous topic.
I know I can do this.
Being how this will be the first week of the 'New Year', what should my first steps be to find a motivated seller?
Do I need to go to the courthosue and look for probate and bankruptcy notices?
Should I look for an investor-friendly realtor?
I just don't want to go another year (let alone month or week) without doing something I know I can do. And based on my experience on looking through the classifieds and FSBOs, I'm not sure those are the best places to find the best deals.
Thanks.
-s
You got to do it all dude. I hardly ever look at MLS and then I saw a condo for 29,900 in a project that I know. I said to myself that it must be a 1br. Then I noticed it was a 2 br and one of the large units too. Contacted Realtor and was told that an offer was already accepted. About a week later I get a call telling me that I may purchase it. Paying the Realtor 100% of his fee so he will bring me more deals. Actually letting the seller pay that bill. Look everywhere tax sales, at vacant property, door to door if need be, BK, banks web sites, HUD, preforeclosures. Even deals that are brought current may still be for sale as the owners may still be in financial trouble. Bandit signs work great too. Give out cards at the coffee shop and McDonalds. Never stop looking.
Good LUCK and Thank You
Hope this helps some
Ted Jr
Ugg. This is what I find interesting. One person thinks I have to do it all. Another thinks I need to get together a team. Confusing.
BTW...I'm a girl.
Whether it is a single person (boy or girl) doing the work or a team effort...it still needs to be done.
John (LV)
Team vs individual? It all depends on you and your RE goals. I have a full time job and can't do it on my own - so I go with a profesional "team" of folks I work with - I buy and hold rentals. This could be hard to do - I got lucky and have a great team. It works for me - pretty much hands off. They find the deals, set up financing, inspections and manage the properties. I own several rentals now and I have 4 deals in the works now - might get 1 or 2 finalized before the end of the month. [ Edited by hoober on Date 01/04/2004 ]
sml,
Some clarification on a team approach. Your team will likely evolve as you get into property ownership. It does not need to be completely assembled before you start. The first members though are people who can help find properties. As was pointed out, what you will need depends on your goals, resources and available time. As pedestrian as this sounds to some creative investors, most of my properties have come from real estate agents. RE agents are also very helpful in walking through your first few transactions. I don't know how MN is but some nearby states have many bank owned properties and I have accessed these through RE agents.
Good luck and regards,
Ed
first off, you referred to me as 'dude', when I'm NOT one at all.
Second, this is the kind of reaction that's put me off from actually doing a deal because either no one's given me a straightforward answer to a straightforward question, or given me correct information.
Monday's the beginning of first full week of the new year.
I'd like to do SOMETHING to ensure my success. I guess I'll have to do everything I can with little to no money and HOPE I don't screw up.
Hey sml,
I am not sure what your question REALLY IS. You seem to know what different options you have to find motivated sellers; why don't you go try them out??
Are you really looking for the ONE right answer? Because if you are, then you have missed the plot, because there are many, many right answers and no one can tell you which is right for you.
Try FSBO. Try Real Estate Agents. Try the court house. Try. Try. Try.
first off, you referred to me as 'dude', when I'm NOT one at all.
Second, this is the kind of reaction that's put me off from actually doing a deal because either no one's given me a straightforward answer to a straightforward question, or given me correct information.
Wow you sound unstopable
First step might be working on some people skills. The people on this board have a lot of great information when you have specific questions.
There is no road map for real estate investing as said before. What are you interested in if it is wholesaling then this is the place to post questions for that. If you don't know then try the Newbie/birddog forum. You need to be more specific in your questions and I gaurantee you will get great answers on this site.
Also don't take things personal, I see the person that called you dude (tedjr) answering a lot of questions on this board. I don't think alienating yourself by being confrontational will help to get answers.
Good Luck [ Edited by wpruett on Date 01/05/2004 ]
Sml try the Marketing Forum I came across some great ideas there and you may also.
http://www.thecreativeinvestor.com/ViewForum30-938.html