Lessons I will Learn Starting Out as a Beginner...

[Anwar Selo]

Hello everyone!

I am excited to join this network. I've been reading the forums for quite some time now and the support people get here is really impressive.

I recently went through some courses, read many books, and spoke to many people for guidance and assistance. I almost reached the point where I felt like I was stuck ins a hamster wheel. Finally, I took the first step and contacted an agent. He suggested we work on acquiring property for the purpose of selling it rent-to-own.

Now, I am looking at a few houses in Anderson, Indiana. One was professionally inspected yesterday and did not pass, even though it looked very good. I am walking away from it as I always see people advising not to get involved with fixer-uppers in the beginning. 

Thanks in advance for any comments and support. I plan to document my journey to help others learn.

[Steve Milford]

I am curious. To me, a fixer-upper is a great property to get involved in. As a DIYer, my first property was such, though I am very comfortable with them. I have learned quite a bit with it, and it has been a great investment property as well. When you say it didn't pass inspection, do you mean it didn't pass with flying colors? So far in this business (in 3 years) I have never seen a home get inspected and not have recommendations come from those inspections. I had a buyer tell me recently that they walked away from a house with plumbing that was "near the end of it's life." What? Rather than walk away right away, use that as a negotiation point.