New Member Introductions
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 17 years ago,
Kick in the Pants
I need a kick in the pants. I've salivated in "REI" for about 5 years and I've decided that right now is a good time! My kids are old enough that I can get out of the house for a few hours a week (to which i hope is enough!) and waiting until they start school would just be another excuse. I am sick of waiting for the right time! As my friend said "we are never going to get ahead in az" its to costly to save so I will have to MAKE my money.
That being said I don't know where to start. I would like to observe at least one deal that someone is putting together...see how they deal with contractors, what labor they do themselves...WHERE they buy there materials etc. I KNOW I can do this but I am still scared!
I will HAVE to use hard money lenders for 100% of my costs. At most I have $300 in savings and except for our tax returns there won't be more in the future.
I have a friend who is a RE agent and her husband is a mortgage broker so I do have some good ties although I am not sure HOW to leverage their time and know how without paying a 6% for the sales/buying portion or even IF the MLS is the way to go. I don't have an advertising budget but I know that cold calling ads in the paper and driving around aren't going to maximize my ability to find properties.
So all in all I forsee that FINDING properties is going to be the hardest part and SELLING them is going to be the most nerve wracking...everything in between is doable. :D