Starting Out

Comments(6)

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  chriseaker16th December, 2003

  My first suggestion is to learn about the different methods of buying creatively (ie not going to a bank). I've spent a few years learning everything and now I've come to the conclusion that buying subject-to is the best way. To learn about subject-to buy a course like John Lockes "Subject To that's what I do."

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  Rogue18th December, 2003

  Quote:
  On 2003-12-16 12:35, dcharry wrote:
  I am very excited about buying properties. I have located several properties I am interested in making offers on but not sure how both sellers are not interested in owner financing or lease purchase. I have some cash to put down and some collateral. How do I propose to bank and/or seller? Does anyone have recommendations on Brokers and/or Banks in North Dallas TX area? THanks I am very new to this.
  
  
  How motivated are the sellers? It doesn't sound like they are motivated enough, unless they have a lot of equity and are willing to be cashed out at a discount.
  
  What are the numbers on the properties (asking price, mortgage payments, comps, etc.)
  
  You need to get more info if want help.
  
  Chris is right. Spend some time and look at different aspects of creative financing.
  
  Locke, LeGrand, Bronchick, and Cook have good courses.

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  dcharry22nd December, 2003

  Quote:
  On 2003-12-16 19:44, chriseaker wrote:
  My first suggestion is to learn about the different methods of buying creatively (ie not going to a bank). I've spent a few years learning everything and now I've come to the conclusion that buying subject-to is the best way. To learn about subject-to buy a course like John Lockes "Subject To that's what I do."
  
  Thanks I will get a hold of the course. I have CArlton Sheets course. What is your oponion of it?

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  dcharry22nd December, 2003

  I was reading on of the forums and saw where someone simply stated "I need capital." and he got some responses from people with either direct information or for him to email them directly for more info. I have several good properties in mind but dont know how to raise capital to make deal work. Any suggestions??

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  sammymh22nd December, 2003

  I maybe able to help you. I am a Loan Officer in Frisco, TX and I work with alot of investors. I offer hundreds of programs and even have a 100% full doc investor loan and a 95% Stated Investor loan, or if you have enough money to put down, we will not check credit. I can also get a rehab loan if you need it. Like they said, it depends on what type of loan you want and what I have to work with. The worst the credit, the less equity, the few options I will be able to present to you. I'm located in Dallas, but I can do loans in almost every state. [ Edited by WilliamGA on Date 12/22/2003 ]

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  dcharry22nd December, 2003

  Thanks sammy I will be calling for more information.