All Forum Posts by: Cynthia Hughes

@Bijou Diaou trust you can’t learn everything in three days. You have made the first and best step by signing up with BiggerPockets.

@Sean Wang www.propstream.com

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Start by educating yourself on it. Wholesaling is an exit strategy and not a real estate occupation. This is what a lot of newbies think. You are not a wholesaler, you are a real estate investor. You are also NOT selling houses, you are assigning a contract. 

There is a lot of FREE information here and on YouTube. Education is the key!!!

What have you learned so far?

Thank you all so much. I have thought about wholesaling as my exit strategy but no one seems to be interested in buying in the city it's located. Just may have to pass all together. 

Motivated seller offers me his fire damaged 23 unit multi family property in a not so good city in Arkansas for $225K. He has repair bids at $425K including roof. The ARV of this property is $925K and the housing authority is willing to pay 110% of the rents. There is also a new casino coming to the city less than 2 years from now that will bring 1000 permanent jobs.

As a newbie with no money and not so good credit, what is most creative financing I can use to acquire this property.

Thank you all in advance!

Hi,

To purchase the property, you will need a Standard Purchase Agreement. Once your seller has agreed to your terms and has signed your contract, you take it to the Title Company to close if you don't have a lawyer. And yes I have a 60 day step by step action plan. Let's connect so I can send and network. I'm working on a Memphis deal also.

Thank you all. As I have studied the BRRRR strategy, I have found that many lenders want investors that have experience and large down payment in which I don't.

The past few weeks my wonderful agent has acquired several "buy & hold" properties with long term tenants in place. Many of which I have past on to other investors. 

As a beginner investor, what are the pros and cons of becoming a buy and hold investor? Value has already been added to most and the others are having value added so I will not have to do anything. Asking price seems to be below market and great ROI. I just want want some insight.

Thank you all in advance.

Thank you @Dan Weber. It was actually someone in the housing authority that informed me of the shortage of bedsides that are needed.