I am new to REIclub and have a couple of questions
are there deals to be made in boarded/ vacant property
are assignment of contracts good, if I cant find new investor
what are some financing tips to get funds for rehab with limited funds
Tell us more about your situation and perhaps we can help you better. What are your goals?
What are your resources?
What’s your FICO score?
What type of RE investing are you intersted in?
I also new to the forum, so don’t feel alone. :biggrin you could find your answers in the RE articles on the right. I read them everyday, even the ones I already read. Good Luck :biggrin
I can tell you what has helped me a lot.
- Go on ebay and buy the most current Carleton Sheets course they have there. It’s about $40 - $75 and it contains some good BASIC information.
- Work your butt off to save some reserves for investing.
- Know and improve upon your FICO score.
- Read books on REI. Here are some good ones.
“One Minute to Rental Property Riches” by Michael Rossi (Propertymanager).
“The Millionare Real Estate Investor” by Gary Keller.
“The ABC’s of Real Estate Investing” by Ken MKelroy.
“The Millionare Next Door”
“Rich Dad Poor Dad”, Robert Kiyosaki.
This site is an excellent resource. There are a lot “seasoned vets” that have valuable info.
By educating yourself on the various aspects of REI, you’ll have a better idea of where you want to be and how to get there. Good luck and Happy investing.
Finding funding is a problem for all investors who are starting out.
You could use equity from your present primary residence, borrow equity from another property a trusted collegue owns, use your credit cards, take out a personal loan, use a hard money lender (usually 12% interest rates), or use a private money lender, or just a conventional loan from a regular mortgage company.
This is an ongoing struggle lately for some in the business today.
Deals are everywhere right now. Buyers are the scarcity in most markets. Redirect your effort to finding buyers instead of homes. Then find homes for your buyers and you won’t need to worry about financing. There are also some very good wholesaling systems on ebay as well.