OK before you guys think iam some non caring guy iam not…
Iam just asking because iam a newbie and wanting to get into rei really bad so i was wondering since people are selling there holmes or whats left of them on waterfront for really cheap i was thinking could i get these deals and transer them to some investors?
since i cant own property yet iam only 17 just a thought i had a dream about that i wanted to ask you guys thanks…
Investyoung,
My advice would be to get on down to New Orleans, find some potential sellers look in their eyes and the eyes of their children and make them a cheap offer on what is left of their lives.
John $Cash$ Locke
Good answer $CASH$.
Have heart man, anyone that should want to benefit from this should be locked up. like some of the gas stations in my neihborhood
I knew it would get taking the wrong way…
But actually this guy told me that if you are into the rental deal then you would be getting alot of business right about now… is this true
If you knew it was going to be taken the wrong way, and then it did get taken the wrong was because IT IS WRONG! why ask again>?
Look into your heart man, how can you benefit from the hurt of others?
This was NOT taken the wrong way. I don’t see how you could think of asking a question like this. I’ll tell you what, I have had rough times…nothing at all compared to the people who have had their lives forever changed by the hurricane. I would rather live on the streets than to take advantage of someone elses misfortune to make a buck. You seriously need to get your priorities in order.
What the hell dont you all look at where the hell iam from iam from mississippi i got it to i had my house messed up i am just like the other people… iI was just asking becasue there are alot of people leaving town that i know and they have homes that iam pretty sure they would want to sell becasue they are moving that why i was asking… People are LEAVING people i know and people i dont know so why not give them extra money ya know. damn iam only young and i was only asking…
I didnt mean itlike seeing some family who lost everything and walking up to them saying hey ill give you 5,000 for your house thats been in your family for generations… um no thats not me…
And you guys tis its so bad here no its not new orleans was the hard hit Mississippi was hit hard to and bad but not everything it gone… You people see it all bad on the news becasue that s all they are going to show you is the bad side of it… But i know me and my friends drive around we see this stuff that you all so call see on the news…
Hundreds of thousands of people have only their clothes and their lives. They want to start fresh, either where they were or somewhere else. They want to get back on their feet and each resume a productive life. That means they will need housing and jobs.
So, the question is how can real estate investors assist these folks in need of housing and make money at the same time? (Hint: Government assistance programs, like Section 8, will help these folks and real estate investors.) Look for win-win solutions.
xarax
Thats exactly what i was talking about… i dont know i must have really worded it wrong
Dear Young Investor.
A possible way to benefit yourself, and others, and I’m not saying this with 100% confidence, but just as a thought, is volunteer for Habitat for Humanity, learn something about construction, working with the people who do the initial construction. They will probably be working in your area.
http://www.habitat.org/local/affiliate.asp?place=84
You could learn about flood insurance, building codes ( not that any of that helped…but learn the economics of why someone stays or goes).
you could pick a neighborhood and follow it and see what happens. The volunteers who start the project are not all as inexperienced as the people (like me) who end up painting the walls. They have to comply with regulations.
(Habitat owners can’t mortgage the property, either, so there are issues to know about the circumstances.) you can compare Section 8 people vs Habitat people, who qualifies. learn the differences.
Ask if you can apprentice with a builder, or how to apprentice with a LOCAL person, with whom you can develop a relationship, not one of the many out of state vultures.
You could learn how to find absentee owners…guess there will be a lot of them. Work with other investors, go to local REI club. Have your questions answered, which I think is, wht happens next in a disaster? There is still the land. Not like New Orleans, which is iffy, I’m guessing. you might, as a local person, be of some value to investors who have the money or contacts to put a deal together.
Basically, what you’re talking about is called “Birddogging” where you find a vacant property for an investor and get paid if he closes. There are several boards on this subject on the internet. But, you said, “getting these deals” and that would be like options, and you can’t do that at your age. A birddog finds a distressed property and sells information to the investor and gets paid if it closes. A flipper or wholesaler gets an option contract on them and sells the contract.
Depends on state laws, too, it seems, these days, so keep up on those.
Learn all you can . If a house is demolished, find out why. If one is rebuilt, or the slab re-used, find out why it was economically sound to do that, and who paid for it.
Find out if you have a Love Canal or Three Mile Island on your hands.
Familiarize yourself with Section 8; I would think on this level of disaster there would be a lot of people qualifying. I was told that if they qualified before, they could transfer that to another location, but I don’t know that for sure. But you don’t own anything at this point, so are not in a position to be looking for tenants, I think. But you can learn.
Look to see if there are toxic mold issues.
Learn how to look up building permits, see if repairs have been done. My guess wold be that many properties in ;your area would be red flagged for demolition.
Yes, you can profit, by educating yourself about the economics of what you see around you.
you might enroll in a real estate Licensicing course whether or not you intend to activate the licence or not. Just basic background. I don’t know, just a thought. It’s fairly inexpensive.
I see as an asset your awareness of the before and after conditions in your local area.
As a H/cane Andrew survivor, I know it doesn’t take total destruction for this to be a very upsetting and difficult thing. As a homeowner, I was approached by out- of- state roofers, unmarked trucks, and when I didn’t come to the door right away, they would try the door to see if they could force their way in. And that was with minimal damage to my house.
It was very disturbing. Every scam you can imagine was visited upon me on nearly a daily basis.
You will see all manner of scams and lies.
Take the high road.
xarax put it succinctly.
I’d also like to mention, soon as you can, take some portion of your earned income, even from a temporary part time job, and open a self- directed IRA, and learn how to use it as the owner of your properties.
My sincerest best wishes to you and your family in this most stressful time for you and your fellow Mississippians.
Annaroseanna
AWESOME RESPONSE ANNAROSEANNA! 
It is interesting that you bring up Habitat for Humanity. I have helped on several projects locally (Ohio) and have learned alot!
I am trying to arrange with Mennonite Disaster Services to go to the hurricane damaged areas to assist in rebuilding within the next month or so. There are so many people responding that you have to wait in line. This is one of the few times that it feels good to be standing in line!