Investing Newbie near Reno, NV

[John Cannon]

Hello, I am John and I am new not only to Bigger Pockets, but to real estate investing as well. I have gotten into the idea of investing just 6 months ago. I haven't done any deals as of yet. However, before I jumped into this head first TN I at TN least wanted to get some idea of what to do. I have read many books on various topics of real estate investing from doing "subject to" deals all the way to doing a typical fix and flip you see on HGTV. And of course I habe attended a an few seminars in the Reno area and they are all like those late night infomercials that say "if you pay only $19.99 you roo can have this life". But no one tells you u that it cost a lot of money to even get a sniff of what that person is really doing. Shortly there after these seminars and seeing how much they cost I turned to looking at just building my education and looking at everything that is free. I mean why not, there is a ton of resources on the internet. Thus led me to this site. I haven't been a member on here for very long but of all that I have looked at there seems to be much information to go into and it is all free. I have read through most of the free book from BP and plan on finishing it later tonight or tomorrow. And in that book it said that if you don't interact you will never move forward. So, here I am breaking out of my shell and posting here to get my story and intentions out for others to see.

I have read much about creative financing to get a deal funded, whether it is owner or seller financing to subject to and even hard money, which I discovered that really is not the way to go unless there is no other way to fund the deal. Anyway, I have done research around the area and there are lots of FSBO and there is lots of possibilities there, just I haven't worked up the nerve to call them and just see why they are selling their property. Also, there is this lingering in the back of my mind: what if they say that they will sell me their house, well how do I get a contract to tie up the deal and get it going? Or what if I can't find someone to rent it or even find a tennant buyer. However, with the lack of knowledge and being a complete newbie, I'm sure that everyone went through the same thing. Since I am here I may as well ask, When I do find someone that is willing to sell their house with seller financing fn and I just pay them a monthly payment for equity, how do I begin the process? And once I do get it under contract then what?

Thanks, I look forward to learning a lot from this site and all the different personalities here.