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Updated almost 9 years ago on . Most recent reply
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I love the real estate business...
Hi. I started real estate investing back in the 70's while going to college after serving my country in the USAF stationed at former McClelland AFB. I purchased many properties using what became know as the "Round Robin System" whereby I opened many lines of credit (credit cards - as credit was tough to get as a student back then) and took out cash withdraws for down payments. I purchased many properties with as little as $500 down. Back then, Owner Financing was available using vehicles such as Contract for Deeds. You could still purchase FHA & VA "Simple Assumptions" by non-qualifying and taking over the notes. The banks has since closed this option down. I obtained a CA real estate and mortgage license in the early 1980s and have been licensed ever since. I've since been licensed in MO, TX & NV.
Since the 2007 crash, many of us are having to rebuild, self included. As the market died, I pursued a teaching license and now teach Science and Biology. Re" investing, I have started out buying two mobile homes, cheap. Or so I thought. Have learned much, as I was new to that game. I am now searching for a 4 plex and want to purchase as many real estate properties as possible. I love long term property investing.
I just want to say, be very careful in dealing with unscrupulous real estate agents. I have never seen so much corruption and unethical practices prior to 2007.