Property values make it difficult to invest unless you have mucho capital in this area, any ideas on how I could tap into this market without going broke? I currently have one investment property (this one fell into my lap). I’m still optimistic and I won’t give up, but it’s been a year since my first deal (I’ve been hooked ever since). I’ve looked into creative financing and a variety of other ways to entice prospective sellers, to no avail. Any ideas would be greatly appreciated.
Im also in your area, Silver Spring, and went through the same thing. I have gotten my second deal almost a year later to the date. I find that your best bet in our market if you dont have your own capital and no partners is to find a good hard money lender that will lend simply on the ARV of the house. The rates are any where from 12-21%. It’s gonna cost you alot so just budget for it in your offer. The other thing is try doing a subject to deal. You can find MANY investors in our area to flip to.