Where To Start?
I am an experienced in home repair/remodeling and want to get into REI fixer-uppers. Can anybody recommend a beginners course of action? I have the desire but not a clue where to start. I have very good credit but no cash. Any input would be appreciated.
if you are w2, buy the house you'd like to fix up and start remodelling it. take your time, spend 2 years and put as much value as u can into it. after 2 years, you've hopefully added enough value that you can kiss your day job good bye and live off the tax-free profits.
rinse and repeat.(minus the dayjob!)
if you dont currently have a job, find someone with money and no expertise. try the local reinvestors club.
You've got a key piece of the action-- knowledge and good credit. Is you experience fixing your own houses or are you a contractor. Find a good real estate agent you like dealing with and start looking at houses. Have him/her sort everything in the MLS in the area you are interested in by price starting with the cheapest. Work your way down the list from cheapest up til you find something you like. Like means nice neighborhood bad house. You're looking for ugly that can be corrected realtively cheap. Bad paint, bad siding, bad landscaping. Try to avoid structural problems. unless you know what you're doing there.