Alright, I’m very new to REI and after thinking about what my first investment should be I have decided to make it my first home. The market here in Tampa is HOT and my budget is NOT ! So I was thinking about finding a foreclosure, please help…what should I do, step by step.
Who should I speak to, where should I go, etc…
I live in Tampa, Florida…
My dad has far more experience in real estate than me. I asked his advice on that. He said making your 1st deal your home is stupid because it ties up your capital and ties you down with a huge payment. He said flip and do it all again. Do it until you have enough capital to really run your business.
Thanks for the advise, but I’m more in need of a home then find a home for others. I have been renting for years. Plus I have a wife and kid.
that is a great idea. if you occupy the home and you are a first time home buyer you will get much of your closing cost paid and there are even programs to assist in financing the repairs…look at foreclosures in your area online too. A realtor can really help you with this process and banks will pay for a home inspection…besure and get one and check for mold…in case the home you find has flooded at some point. Good Luck and have fun…
why not a 2 family? …
So I can call a realtor and they can look up foreclosures for me ?
What should I do, go to the court house, check websites, etc ?
I looking for step by step details.