Just Beginning
First, I just want to say that I truly do consider this site a landmine. Where else could I have access to people that are knowledgable about investing, not because they read about it, but because they prove it works everyday. As for myself, I have been doing much reading (and, as of now, feeling very much like [itching to] begin). I am just recently graduating college, comfortable with my job, and really looking for good, smart investments (investments that have potential [but of course no guarantee] of higher than stock market returns). I have reached the conclusion that I would love nothing more than to begin with wholesaling/flipping houses because this is the fastest way to generate cash (and avoid extra debt, at least for now). I feel that i am confident, I desire to learn much more, I am reasonable intelligent 9though not one to boast), and more than anything I am HUNGRY for success.
I am looking into REIAs around the area and plan on going to the next meeting, and joining up. What I would currently ask for is any suggestions, extra resources that i may be unaware of, and/or even possible contacts that may prove beneficial for both parties involved.
Also........I have been locating several houses that appear to be good, clean simple deals that are owner financed. Even though this may be the wrong forum, I would like to know the first step (besides doing due diligence. of course) of going about controlling properties financed like those in question, by lease purchase option. All responses would be greatly appreciated.
Best regards 8-)
kd,
My first recommendation is to spend some time going to the REIAs in your area. You are on the right path, but you need more education. You can get your education there.
As far as controlling properties is concerned, you control them with a contract. Your contract, offer, etc will be determined by your needs, the sellers needs, and your exit strategy.
Your excitement is justified, and your willingness to go "do the deal" is admirable. Now take that energy, and get some education so your chances of success are greater.