Hello I’m an new to Realestate investing. I am looking to by a property in the Triad Area in North Carolina, but I don’t know what to buy, I have bad credit and not to much income, so my lender only approved me for 80k loan, which limits my options. I want know know what would be the right route to take. Should I look for a property to buy and rent out for cash flow? Or try to find a property under market value to purchase and resell? Thanks for all the Help.
Hello again. I have been reeding a couple of different investment books which are great. But they mainly deal with determining what is a good by, comparing properties, and much more. What my question is, is are there any good material out there to learn the ins and outs of realestate. Like forms, processes, and even stuff about evictions. Thanks again Joe
If there is a better room for me that anyone knows, I’ll be happy to go there. Does anyone know of any? I just have alot of questions. For example, is it better for my credit/bank relationship to buy a property under market value, then sell or is it better to buy and rent, and let the bank make money off me for a while just to establish a relationship and a good payment history?
Please do not take offense. It looks like you need to do some studying before you make the leap. :-
Read read read read all the post, then read some more. Join your local REI club. Go to the library and read books on real estate investing. I would not want to tell you to do this or that and make your credit worse. Hopefully you will find a credit repair specialist at your REI club. Don’t forget that you do not just want to reduce your debt. But you want your FICO scores to go up.
You need to find what type of real estate investing that you feel comfortable with and start there.
That way you can decide what paper work you need. Then your questions would be more targeted.
I know this does not seem like the answer you need. But it is.
Acquire some knowledge and you will be just fine.
Wishing you success
Bruce
http://creditboards.com/forums/index.php?s=5cbb21639e64cfee23d25d174e02f05d&
The above is a link to creditboards.com. This is a great site regarding everything to do with credit.