Posted by Crystal on October 07, 1999 at 18:18:19:
FSBO= For Sale By Owner
Re: Guidelines for terms, No ifs, ands, buts about it, you are going to have to look over Sheet’s course again and decide what area of REI you are interested in ie, flipping, lease options, rehabs etc. Then you have to buy courses which specialize in this area.
There are just too many questions to be answered and too much can go wrong if you are not well informed. Besides professionals such as a re lawyers, brokesr, agents will not be as likely to take you seriously if you are unsure of yourself, what you are trying to accomplish and how you are looking to do it.
You will find a ton of support here, take a look at some of the articles, absorb as much education as possible and then proceed to SAFELY investing in real estate.
Beginning in Real Estate Investing - Posted by Beldorian
Posted by Beldorian on October 05, 1999 at 22:37:17:
Hey there!
I have recently decided that I would take my financial future in my own hands! I have started to read and study the items I need to do this. I have read,
“Rich Dad, Poor Dad.”
“The Millionaire Next Door”
“Creating Wealth”
within the last two weeks.
I am ready to move. I would appreciate any support that could be provided from the people on this board. I have very poor credit. I had a bankruptcy 3 or 4 years ago and cannot seem to get the loans that would make things easier. I will be purchasing real estate in Houston and Austin. I am finding that most books I read on the topic of Real Estate Investing are old. For example, Creating Wealth by Robert Allen is such a fantastic book but it was written in the early '80s…
Also, in the last week, I dusted off the Carlton Sheets course that has been on my bookshelf for about two years. I need help, I need inspiration…
I need Partners for Success
Any email with information having to do with hard money lenders, the way to generate positive cash flow or the best way to flip properties in my area would be appreciated.
Re: Beginning in Real Estate Investing - Posted by Blane - MI
Posted by Blane - MI on October 10, 1999 at 21:19:07:
To get or keep yourself in the proper mindset, I also suggest reading the followup book to Rich Dad Poor Dad, called Cash Flow Quadrant. In addition, in each book Robert Kiyosaki offers free tapes about money and investing which you can request. His work has been helpful in overcoming the fear part of investing. Am also ready to take the dive.
Work the “just be transferred out of town” FSBO sellers that are in a rush. Line up a REI lawyer that will write you a “rent to own” TX contract. Put a ad in the paper that you are willing to pay more than the asking price (for the right terms). If you insist on using a RE Broker use Harriet Houston w/ Better Homes and Gardens she worked very well with me. Don’t tell her about your FSBO add and sharpen up on your selling skills (Zig Ziglar).
Re: Beginning in Real Estate Investing - Posted by Beldorian
Posted by Beldorian on October 06, 1999 at 23:16:18:
Thank you very much for the response!
Couple of questions…What does FSBO stand for? Do you have an REI lawyer that you would recommend in Houston? Also, are there any guidelines that you would advise for finding the right terms if I am to pay higher than the asking price? Are there neighborhoods that you would recommend I look in?
