I’m new to real estate investing and from what I have learned I think the best way for me personally to get started is rehabbing as I have worked in construction for quiet some time and could do the repairs myself. My question to you is… Where do I go to find good deals on houses that need work and will sell once I make them spic and span again?
Your advice would be greatly appreciated!
Your experience in construction will be a plus, as it will help you to evaluate a house’s needs.
But the house that you should be looking for doesn’t need many repairs.
You should be looking for houses that are in good shape with sellers that need rehabbing.
Focus on making money, instead of on construction.
Remember that if you do a repair that you could have gotten someone else to do for $10.00
an hour you are working for $10.00 per hour.
I think a lot of people start with rehabbing, because it is easier for the novice to spot a distressed house
than a distressed seller.
There is a distressed seller within a 1/2 mile of you or less at all times. Learn to find him.
You will pass a couple on your way to the home improvement center.
Take any large office with a lot of hourly workers and you will have all the distressed sellers that you can handle. As well as home buyers and renters.
Turn some of these employees into bird dogs, you know that they can use some extra money.
But if you really want to rehab, I’m sure most successful investors would be willing to work you.