Advice for locating opportunites - Posted by Rob

Posted by Jerry on February 04, 2007 at 11:10:35:

My e-mail address is

Advice for locating opportunites - Posted by Rob

Posted by Rob on December 27, 2006 at 13:38:31:

I have a lot of interest in RE, but I haven’t any experience. I am interested in purchasing a small apartment building (5-20 units) in order to get my feet wet. I have a limited amount of cash, and not the best credit. I am looking for some advice on locating small properties of the size that I described, and how I might locate financing for the properties.

Any advice that can be offered is greatly appreciated.


Re: Advice for locating opportunites - Posted by Tony Larson

Posted by Tony Larson on January 08, 2007 at 18:52:44:

What areas are you looking for these properties in. E-mail me this Information I gurantee I can help you. Thank You
Happy Investing

Re: Advice for locating opportunites - Posted by ray@lcorn

Posted by ray@lcorn on December 29, 2006 at 16:28:51:


The first step is to have the capability to seize an opportunity when you find it. Heed my favorite truism?“Opportunity, without the capacity to capture it, is an illusion.” With little cash and weak credit you have limited capacity to act if you do find a deal.

So get control of your credit, now. You’ll need it, no matter what the “gurus” might tell you.

The number one source of acquisition funds for small income properties is a local bank. They will be looking at all four “C’s” of credit… character, credit, collateral, and conditions. If you’ve got dings on your credit report, fix them or get a statement prepared that explains the problems. At the very least any outstanding judgments or tax liens must be paid.

Every other source of funds (other than seller financing, see below) comes at higher cost, which directly impacts the amount you can offer to pay for a property (see

Then start raising cash. Sell toys, liquidate unneeded assets, collect any monies owed, refinance existing properties to access equity. Then prepare a personal financial statement and have your tax records in order. Even seller financing will likely require that you put up some cash. Realize that those so motivated to sell they will finance high leverage deals do so to help themselves, not you. Most often they have a problem they would like someone else to own. For more on the dangers of over-leverage, see

Once you’ve addressed those issues, then you’re ready to start looking for deals. That’s actually the easy part… there are dozens of properties available in almost any market on alone. Once you start talking to brokers, sellers and other buyers the problem becomes how to wade through all the possibilities. You’ll quickly understand that not every property for sale is a deal, and how to tell the difference.


Re: Advice for locating opportunites - Posted by Jerry

Posted by Jerry on February 03, 2007 at 21:21:19:

Do you have anything in Texas?

Re: Advice for locating opportunites - Posted by Tony

Posted by Tony on February 04, 2007 at 10:53:55:

I will e-mail you what i have just pleasse send me your e-mail address.
Thank You