hi and thanks for writing.
I wrote another posting just after this one, there I explain a situation about a condo $42000. I actually went to see it and in looked pretty nice its a 2/1/1 several appliances are included, its owned free and clear, but the guy wants everything upfront, what can I offer, my credit rather poor, I do have a little money savedm but I rather not use it.
another situation its this house for $75000 owned free and clear, the lady wants $5000 down, and $614/month, she is willing to finance I guess. I went ahead and told her that I was a RE investor and that I buy properties to rent, well she didn’t like that idea too much.(pretty nice house also 3/1/1.) What can I offer her that would interest her?
thanks for any advice. eric tommy99@yupimail.com
hello there
do you know where I could get some coaching to buy my first property? I’ve had the course for 2 months and I can’t seem to buy my first property. I would like to discuss with someone the different properies that I’ve come across, and maybe I could get some coaching on what to offer and how to come to those numbers.
thanks for any advice. I would be willing to pay someone to coach me thru the first purchase, I’m to the point where I’m starting to feel dumb for spending close to $300. I want to purchase the 1st property so bad because I know that afterwards it would be easy to buy more, and I would feel better about myself and the $300 I invested on this course. thanks for any advice, eric (Dallas Tx) tommy99@yupimail.com
Hey man - I know how you feel! Don’t feel dumb - it is just rather hard to get the first one down because numbers keep going through your head! Just remember - there is 10 ways to solve one problem.
Does a real estate agent have either of these properties?
First, the condo - make sure you check association rules as far as leasing it out! - But what I would do - is raise the purchase price by $3k and have the seller pay all closing costs and two points on your loan. You might want to go to a bank first and ask them what government programs you have in your area! First time home buyers, DECA Funds ( which are closing funds that you don’t have to pay back), etc. Then make the offer according to that!!! Actually what I would do is find yourself a duplex or something that you can live in too and that way you qualify for owner occupied loans.
As far as the house goes - starting out - I wouldn’t buy one - because you are like me - not a lot of cash coming in each month from my job - so if I do have a vacancy - it hits me pretty hard. Just make an offer on this place if you want to - you don’t have to make it so she will accept it - today alone I made a B.S. offer for a property - just so I could get a counter offer and see where the sellers are coming from!
Also, if nothing else - have someone sign on the loan with you!
Good luck - I was in your shoes only a few months ago!
Re: Can someone please coach me thru my first property purchase? - Posted by alishyanna@aol
Posted by alishyanna@aol on January 28, 2000 at 19:36:29:
Hi tommy,
tell me what you have tried so far? Have you tried rent to own. In New York State this is popular.I am new to the internet, but a long time investor. I have not taken sheets course.