Trouble With Preforclosures
I need help and maybe someone out there can help. Im new at this im 23 yrs of age and i want 2 invest into preforclosure real estate, but i was reading a book about how 2 finance the project. I understand That a bank will loan you up to 80% of the money, but what i need 2 know is where do i get the other 20% because i dont have that type of money . I dont even have 500.00 to spare. Can i still do this or am i over my head :-?
You could try to find a partner that has money and split profits.
I agree with edmeyer as long as you have the knowledge and experience in getting a Homeowner under contract. If you do not I would suggest that you birddog for an experienced investor that does these types of deals until you gain the knowledge and then you may be able to get an investor to partner with you on a deal. Before long, you could be doing a deal on your own. Good Luck.
Dave
[addsig]
thanxs