What To Do In Wyoming?
I just bought my 1st inv. property and everything is going realy well with it. I wanted to start out slow finish this one get an idea about what I'm doing and then get investors. Only driving the neighborhood I just bought my rehab in - I'm finding properties literally ripe for the picking on every corner. Talking to potential private investor and looking into hard $ lenders is difficult because I have no expierence and they want to loan their $ to someone who knows what their doing. What should I do? The market is booming right now and I don't want to miss out.
I live in Cheyenne wyoming. Properties are all over the place, but I have no idea what I am doing. But we should talk and take over the south east corner of the state
Wayne
Most definitely. I think it would be advantageous for both of us. Besides being a newbie, it's always nice to find someone with the same interests. If you would like to send me an E-mail, my address is :
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Don't worry about it. Regardless of what the market is doing, there will always be opportunities. They just might be different. Your original strategy sounds better to me. Get one property, learn how to make the deal work, get the money out of it, and then move on. There are a lot of people who talk about investing but never really start. There are almost as many who start, but their appetite gets so big that they loose control of the situation and end up with nothing but debt. You've started the right way. Take calculated chances, but don't overreach. Good luck.
Thanks for the advice. - My contractor that's doing the repair work wants to work on a partnership for future homes: i.e. I find them finanace them and he does all the repair work. Should I even consider it?
Unless you are going to do the work yourself, you will always need reliable tradesmen. I wouldn't have the foggiest idea of how to repair a heating/ air conditioning system but sometimes they break. Get a "team" in your pocket. The idea is to be in business as an investor, not as a guy doing the grunt work. Hire a professional to do that and get on with finding other investment properties. Good luck.
Bob
Unless you are going to do the work yourself, you will always need reliable tradesmen. I wouldn't have the foggiest idea of how to repair a heating/ air conditioning system but sometimes they break. Get a "team" in your pocket. The idea is to be in business as an investor, not as a guy doing the grunt work. Hire a professional to do that and get on with finding other investment properties. Good luck.
Bob