Meeting my first seller tomorrow...

[Jesse Jackson]

I've decided to jump into the deep end of the investor pool. I have purchased and sold a couple primary residences before, but this is my first time as both an investor and FSBO.

If things go well, I would use it as my primary residence until I finish some necessary bathroom repairs. He mentioned on the phone that the house had been rehabbed excluding the bathroom. Then I intend to hold it as a rental after I find and purchase my 2nd investment property. The asking price is $32k, and rents in the area are approximately $700-$800. My primary residence in CA is listed for sale now, and I will have plenty of cash when it closes.

Just looking for general advice, questions for sellers (especially FSBO,) how to effectively lock the contract up pending the sale of my primary residence now, and any other advice/information you may like to volunteer.

Please let me know if I forgot to include any critical information - I'm still learning a lot.

I'll keep everyone posted on the progress.