Hi, I just found this site, so I apologize if I am asking an obvious question. I’m in a position where I need to make some money within the next two months. I don’t have money to spend on unneccesary courses or books, I just need a concise tutorial of how to start. I have found some properties needing repair (them seem abandoned), but they are in 300k-600k neighborhoods. I know a handful of builders/remoldelers/rehabbers, a handful mortgage brokers, and realtors are everywhere. I have a great attorney and a great accountant. But I don’t want to embarass myself and lose contacts by making the wrong move. Can anyone offer some advice? Is anyone operating in Ct?
Thank you for any help you can give.
I'm in a position where I need to make some money within the next two months.You actually expect you can go from zero to making money in 2 months? Good luck with that.... ::)
Rich, am I to understand that you are in Connecticut? If so, are you looking for houses to buy? Do you have houses with an arv of under 200k that you are looking to sell?
I’m looking to buy 3-4 families in the next few months, have to pay down some debt and get my utilization lower before I can apply for a new loan. I’m in Bristol, looking in the central CT area.
Sorry, but do you mean multi-tenant properties? Are you trying to stay in Bristol, otherwise perhaps I can birdog for you. If you come accross a little fixer-upper, I have a small time rehabber ready to go.
Thanks
Yes, looking for multifams. Looking for buildings that require little or no work and are fully rented. Wouldn’t mind making small improvements as I go but don’t want to start off with something that requires a ton of work from the start.
You can’t make things do what they are not naturally going to do. If you need to make some money the ceiling of the money a house will sell for is what the other houses in the neighborhood, just like it in have been selling for. The floor of the amount of time it will take you to sell a house is the average days on the market. If you need money before that, do something else. This business does not get you cash quick.
Have you tried wholesaling? Sometimes you can turn $3000 in a week
That is what I would like to do, if I can find someone interested in old Ct farmhouse rehabs. I would even settle to be a Ct liason for a out of state company.
Build a buyers list and start making offers. Ask your buyers what kind of deals they are looking for
Great idea, Thanks.