Hi,
Im located in nyc and have a seller in florida. She is definately a motivated seller who’s house has been on the market for almost 2 yrs. Seller has no equity in the house that has tenants, and the seller does not live there. :help
Since Im still studying the mechanics of investing, im not sure which way to go. :help
I sent her a property info sheet because thats what my books said to do, but i dont know what to do with the info after i get it.
Any advise will be appreciated.
thanks.
Rene, not enough info for any of us to make an informed decision. What is it you want to do? Are you in a position to get financing and use it as a buy and hold? What does the homeowner want to do? Anything other than the traditional retail buyer with new financing?
How is the property as a rental? Does it cash flow? Finally, being 1,000 miles away, how will you manage it?
ok, ill get more info.
Are you in NYC buying a house in Florida? And you are new to this? I’d suggest you stick to something local until you get a few deals under your belt. Although, wholesaling is an option from a distance, but you already said she has no equity.
Good luck!!
http://thefastertimes.com/personalfinance/2009/11/23/how-to-avoid-rookie-investor-mistakes/ here is an article on how to avoid rookie investor mistakes.