Brand new at this - could have a big sale - Help - Posted by josh

Posted by Adam King on July 09, 2002 at 20:44:35:

No, if I were you (and frankly even if I were me which I am), I would walk away until you know what you are doing. Not only is education imperative to begin with, but when you start messing around with $200 to $300K homes, that’s a whole other picture. You HAVE to know what you’re doing, ESPECIALLY if you don’t have a clue where the funds are going to come from.
There are a ton of things on this site that will shed light where need be.
Get educated and good luck,

Brand new at this - could have a big sale - Help - Posted by josh

Posted by josh on July 09, 2002 at 15:43:06:

I am brand new!! I just know a little to be dangerous. I wasn’t going to get started until about 6 months from now becuase of my knowledge. BUT, I am going to look at a house this weekend that the seller has put a price of 110,000 on. Other houses that have been rehabbed in the area have sold for 300,000 + .

I have no money or credit. Can I put this on a 90 day contract and then look for find an investor to rehab? Should I even try? I don’t have much knowledge.

If I can have a 90 day contract, what should I structure and then how can I get a buyer?

Please help, I may or may not due this, I just know there are many well qualified people in this forum, and I love it.

Please help, would like to make a decision to go ahead. Of course it is all going to depend on if the seller is willing to do it on contract.

Please respond.


Something to Consider - Posted by DB

Posted by DB on July 11, 2002 at 08:20:35:

Josh, call some local investors and ask them what they pay for a “finders” fee? Find out which investor has done a couple of deals, and is able to handle this property. You, might be able to receive a couple bucks from the investor for giving him/her the lead.

Good Luck, dave