OfflineHello everyone! My name is Maya, and I live in Northeast Ohio. I read Deans books and purchased the success academy. I have a buyers list built, but am now trying to find the 'discounted properties'. I have to start off doing assignment of contracts, but am not sure how to do this. Everything I'm finding is either an REO or foreclosure. People seem to have smaller cash budgets where I'm at, and back to back closings just aren't feasable. I need to make some deals soon!
Can anyone give me some insight?
Good luck to everyone!!
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that "back to back closings just aren't feasable"?
"Make it an AWESOME day! (Who else is going to do it for you?)" - Mike Spillman
"As long as there is breath there is hope!" - Mike Spillman
Maya,
I would like to share with you that it took me 10 months to get my first deal and I was working a few hours a day or several hours a day the entire time to make that happen. Now, for you to accelerate the program,
1) dont give up whatever you do keep doing what your doing, you will find the first one at some point but if you quit you never ever will find the first one.
2)Look for old properties that have been severely neglected. Get a few friends to put up the few thousand to rehab, and rent it out or sell it.
3)Look into another city or state, follow the road construction companies and other mobile industries like wind farm crews and such, You will find above market rent tenants there and do well!
4) Do Not Give Up!
FOMAC
I know what you mean. My area too does not seem to offer such great deals. I will continue with searching, and am starting to think of going to other areas. I know the construction crews need housing, in ND for sure, but inflation hit there like Alaska. Keep us posted with your progress. Where about in Ohio are you? I have heard there are some areas that are pretty depressed, even though have a lot to offer.
You don't start learning until after you know it all!
Back to back closings are too expensive. You have to pay 1-2% fee on top of closing costs to buy the house from the seller, and then you have to pay closing costs to sell to your end buyer. If I'm working on a cheap house, how would this be to my advantage?
I am from Geneva, Ohio. It's hard finding buyers in my area. I too may have to venture off in different areas. I met a woman who invests in Ashtabula but she is doing commercial deals.
I am looking for other people in my area I can talk to or work with.
Happy investing!
I want to purchase a pre foreclosure for myself and eventually rent it out any ideas on this. It will be marketing in the next month or two