Hello, before I get into the subject, my name is Marcus and I just obtained my real estate license. I would like to build a real estate investment portfolio one day and wanted to know the best way to learn as a beginner. I live in California and want to know the ends and outs on everything. I know I’m not going to learn everything at once, but wanted to know what some of you investors did when you first started in order to obtain investment SFR’s, duplexes, etc? Where should I start? Thanks. I don’t have the best credit and I’m working on it. But I do have about $20-30k to my name which isn’t alot.
Ok. I’m starting to meet a few people who are upside down on their home’s and here alot about sub 2 deals. Since I’m a realtor, the first thing that comes to mind is trying to facilitate a short sale and try to educate my clients with the pro’s and con’s of doing a short sale. My question is, can I perform a sub 2 transaction on a property which my client owes $170k on, and it’s worth $80k? I’m new to this and wanted to know what to look for when doing a sub 2 deal. thanks. I hope I made sense here.
I think your best bet is to get some material from ronlegrand.com Spend the couple of bucks you have in educating yourself on how to buy properties with no money down.
You can buy anything “subject to”. I think its a smart investing technique since your not guaranteeing the debt personally. But try to look for properties with equity or low mortgage payments. This way you have a choice to cash out or rent out and make a profit from day one. Taking over a 170k debt on a 70k house is a dumb move unless you have a good chance of working something out with the bank. Which in this case you would really need to educate yourself on short sale investing.
I was under the impression that Realtors couldn’t do Sub2’s, something in your code of ethics. Another good sub2 contact would be Jm FL who posts here on occasion rementors.com Herbster
real estate 001,
I’m Jim FL…nice to meet you.
And yes, I do sell courses and books about subject to investing, as well as other things.
However, I come here to reiclub to help for free…and frankly, one of the big guns that does offer his products/services here is John Locke…some one I like, admire, and respect.
Therefore I won’t step on his toes, and would encourage you to look into his course materials about subject to…he knows his stuff and WILL NOT steer you wrong.
Great guy, great investor.
We do things a little different than one and other,but, this does not mean one is better than the other, just different.
so, get his materials since you are on this forum…
and of course post questions here, and you will get help.
I agree. John Cash Locke’s Sub2 program is outstanding. I recently purchased his program and he has answered each and every question via email within 12 to 24 hours. To date I have not seen any RE guru be such a stand for his students.
Hey Jim, I really apreciate the way you conduct your business by opening the field of investing and learning to the newbies and not being selfished when it comes to sell your products. You really give others the choice of buying their investing materials from whom they please to get it from. You have proven that you are not here to benefit from those who don’t know better but to help and share your knowlege and experience when need be.
I admire your strenth as a businessman.
Thank you.
Yes, Tim has a nice website here, full of resources. I’m not naive enough to think folks only utilize one website when it comes to REI info, so I try to post to, and participate on as many as possible.
I’m of the firm belief that you must exercise your brain in order to keep it sharp, and forums like this one allow us all to help one and other with specific investing issues, and learn from others along the way.
Happy investing, and thanks again for the kind words,
Jim FL
P.S. I meant what I said above about John Locke, met the man previously, and was very impressed with his kindness. Something I noticed as a common trait amoungst those who are truly successful.