Thank you so much for your response! That really clears up some misunderstandings. Once I get my license how would I find the right broker to do that in my area? So your saying I could strictly go into this with the mind set of investing and not selling homes? I would love that.
I did a little research on a few homes for sale with owner finance. I think that might be our best option right now until we can get a few properties and generate some income. That will take a very long time I'm sure. The problem right now is that I'm not educated enough to get started. For instance I found a fixer upper in Waco about 2.2 miles from Baylor for 77,500 and they want 8500 down, first two months 500 and then 715 a month after that for 238 months. Its totally gutted. My husband has a paint crew so we would save there but we would have to spend money on the rest of the remodel out of pocket. I looked up what rentals with that size square footage are going for and its around 1,000 a month. It wouldn't be much in profit monthly. But, I just like getting an idea of what is out there. The owner has had cash offers for 20,000. That's pretty cool too. Knowing that you can go in and buy house that cheap if you have the cash. So much to learn!
Thanks again for taking the time to give me advice!
