OfflineI just ordered Dean's book and am so excited to start. I know about the foreclosure crisis across the country, however, I live in North Dakota and right now it is booming due to oil productivity. I find myself in a completely different housing market than many of Americans. Most of North Dakota has a very small percentage of foreclosure homes--if any in some areas. I don't want to be left out on this great opportunity because of geogragphy and a state economy not reflecting the national trend. Any advice or suggestions?
Kelly
__________________
Be persistent and patient. There are always deals to be had somewhere at some time. Keep you eyes peeled and you will find an opportunity, and given the market you describe it should be that much more rewarding. You don't have to be signing papers on a place in a day, week or even month. When it happens you'll probably be glad you took the time to wait a great opportunity instead of just a good opportunity.
With what you describe you may want to focus on owners who are in a jam and offer them a solution that will benefit both of you... lease options, takeover, etc. Odds are there are plenty of people who need to unload their place asap, even in ND, for whatever reason.
There is opportunity no matter where you live. There will always be people that are motivated. Keep an eye out for the property that is in less than live in condition. That is a good sign that there are financial problems happening since they can't maintain the condition of the property. Also, get yourself a good agent that know her stuff. As a buyer you don't pay commissions, they can watch the properties are they become available for what your critia is. Best advise in your type of market, get involved in a Real Estate Investment club as close to your area as possible. You can find a listing at www.creonline.com. When the page comes up, on the left side of the page under Resources click on REI clubs. You can get involved with other successful investors in your area for the networking. Good Luck!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
there are not any real estate investing clubs in north dakota. I have looked and have not found any in ND.
Travis Vinje
"Knowledge is Power!"
Have you gone to Deans foreclosure alert site. In Fargo(cass cty) alone there are approx 300 properties listed. That sounds like a good place to start.
Bruce
yes i have been on that. i am not sure of the best way to choose which foreclosure property is the best. i live in grand forks which is about 70 miles north of Fargo. So right now I am still trying to get a real estate agent in the area that covers Grand Forks and Fargo.
Travis Vinje
"Knowledge is Power!"
A couple other sites for REO property----- www.usreoproperties.com and also www.thedirectories.com/reo.htm
I am in the process of buying a home in Fargo. What are you looking for. I am possibly interested in wholesaling it.
"Faith is taking the first step even when you can't see the whole staircase."
~ Martin Luther King, Jr. (1929-1968)
www.beaconinvestorsgroup.com