I am new to the RE investment game. Is going through an agent the best way to do your first deal? I have a couple thousand to invest, but really don’t want to mess it up. Any info will be appreciated.
It depends on what kind of investing you plan on doing and where. $2k won’t get you very far in CA, but it could get you started in something small in other markets.
GooD LucK! :beer
Foreclosure Negotiator makes a great point. With only a couple thousand, you’ll have to go out of state. Because you’ll be outside your area, you’re going to need to build a team of people on the ground to be your eyes and ears. Once you’re super familiar with the market, you may be able to move forward without a realtor, but in general, when you’re investing outside your home market, realtors are a vital part. It’s definitely about building a relationship with them to ensure they have your interests in mind and see things the way you do.
I would recommend wholesaling for new investors as you don’t want to mess up…WITH YOU…holding the bag. I always recommend for beginners to wholesale contracts is there is no risk…but you do need to know what you are doing.
Also, there is a strategy that VERY few people know about – any many gurus are not teaching on because they don’t know it yet. Specifically, how to buy a foreclosure for $7,000 and sell it using a marketing strategy of $500 and $350 a month on a property that is liveable and needs very little work.
With the purchase of this book you will learn how to pick up a foreclosure using this strategy and the best part is you have the right to resell this book for whatever you want – its called having RESALE RIGHTS to the book.
Hope this gives you some ideas and help steer you in the right direction!
kdhastedt…ur awesome LOL!