Background info: I’m only 18 and starting college next week, at Southern Illinois in Edwardsville (which is only 20 minutes away from St. Louis), so I might be a little overly ambitious but I might as well learn now.
I was thinking of trying to get into the real estate investing this year, mainly doing foreclosures, well primarily preforeclosures. I found and read Making Big Money Investing in Foreclosures without Cash or Credit by Peter Fonti in about 3 days after getting it and the book made it sound reasonable but I don’t know how well I’d do with the way the market is today. Of course when I move there I was planning on joining the local real estate investment club, that meets basically 20 minutes away. I was also thinking of contacting some realtors in the area to see how the market is down there and the forecast of the upcoming months.
Does that sound on the right track? I do have some questions though even though they may not apply to me now, I’d like to know after reading that book…
Say, for instance, I found, and was negotiating a deal to buy a house from someone who is in preforeclosure. Fro reading the book and some posts on here, I should already be looking for a buyer. That sounds hard, unless you were going to wholesale it to a rehabber you know, since most people normally want to see a house before they buy it. How does this happen?
Nest question: What books do you recommend me reading?
Final question for now: What do you make of this economic state, and how much longer will it fall, and what do you think the repercussions of whatever happens will effect the real estate market in 3,6,12, and even 72 months from now, and how that can be beneficial to me- if there are even any benefits?