All Forum Posts by: Account Closed

Im pretty new to the whole investing thing myself, But I've just been trying to learn as much as I can right now, reading books and the internet stuff like that. Also you want to know weather you want to rent out properties, wholesale, flip houses or whatever will be best for you. And for like us who don't really know what were doing all that well, and have never invested in restate before I really think we just have to take a risk and just start... I'm not a fan of losing money tho.. lol of course thats all part of the risk. I think the first house has to be the hardest, once we get past that it will be way easier. I have still yet to do it myself. 

Okay, so its not like your getting an exact price, its more like your just getting as close as you can to what you think you should buy and sell it for by looking at similar houses and the location of the house things like that. Who would you ask if the price you come up with is a good price or not? an appraiser? and how much roughly does an appraiser normally cost?

So you find a foreclosed house or whatever the case may be, and your going to get the contract where do you look to know how much the house is worth? So you can make sure your buying it under price and to be able to resale it to still make a profit.    

So the process from my understanding is, you find houses that are about to be foreclosed, walk up to the door and say "I want to buy your house." You make a offer on what you want to buy it for and write it up in a contract, and then try to sell it to a house flipper or just anybody who wants to buy it as fast as posable. Is that pretty much the process generally speaking? Ive also heard of doing a double escrow can anyone explain how and what that is? thanks.