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Updated over 6 years ago,
Where to start as a newbie on first deal
I am looking at a property this week to see what it's potential is. It is a 5 bed 3 bath house that is nearly all gutted and ready for someone to fix and flip. I have analyzed it and it appears to be a good deal but I don't have the numbers for the cost of lending me money so I can't add that in. I am so new to this whole thing. I started yesterday sending out emails and making calls to see if I can find someone who would fund me for it in the event its a good deal. I was told that I need to have a realtor first by a lender that called me back and that I would need of cash of which I have none. What does he mean I need a realtor first and how do I decide which one to go with? Does it matter? Which relationships do I need and what is the best way to create the relationships I need to pull real estate investing off? I think I am in need a private lender to bring cash to the table so that the lenders will lend but don't know where to look. Also I am not sure about the proper order of things and what I should ask and be aware of when I go and view the property tomorrow. Am I starting out on the wrong foot with the way I am going about this? I am the newest of the new to this sort of thing and what protocols to adhere to so that I don't ruin my rep before I even really have one. I am not concerned about missing this opportunity if it indeed is a good one cause I understand that I don't know enough to really move forward yet and may miss it. I am okay with that cause I will learn something one way or the other. I know this is a lot of Questions but that is how we learn anything new so a big THANK YOU in advance for all your help.
BTW I became a Pro member today after only watching one webinar and reading two articles. Amazing info! I am so very thankful for the wealth of information and assistance that is here I couldn't pass up the opportunity to meet all you wonderful people and see what we can do for each other! You all are amazing and I hope to be able one day to add to you as you all seem to have added to others through your connections here. In a world that seems to be full of people whose perspective is 'every man for himself' you seem to be walking in the other direction. It's as if you believe 'Helping them helps me and everyone else' or something similar. Here's to making the world a better place one person at a time one act of kindness and at a time.