All Forum Posts by: Cary Donham

Well the true answer lies within yourself but only after you do your own due diligence in the different types of investing you could do in this business. The reason I say the answer lies within yourself is because what suit one person with their personality and what they like to do would not suit another.

One person might like the idea of being a landlord (buy and hold) while another person doesn't want to deal with tentants and would rather find properties and wholesale to another investor.

Maybe you would like to buy a property rehab it and sell it back to an end user (rehabs).

What are you good at?
What do you like?
How much money do you have?
How fast would like your money back in the bank?

Lots of questions you might want to find the answers to before you get started so for now just keep reading the forums here and posting questions until you understand what others are doing.

oops.... sorry Motiv8td.... I didn't finish your post before my last reply. My apologies because we are saying the same thing.

Actually Niman they took all the carpets too along with smoke detectors :-)~

They didn't leave too much behind. Ahhhh the memories of character building.

Now that is funny! I didn't even notice the date on that post.

Motiv8td has a good point here but.....

I have been using my TX state approved contact for 7 years and what's nice about ours is it has everything I need in it..... meaning you can check mark or fill in blanks the way you want to protect you if you're the seller or the buyer.

If you are just starting out you can use what you have available until you close your first deal.

Terry I was newbie at one time asking all the questions wanting to know every aspect of the business before doing it. I would suggest you learn by getting out there and doing the deals. The most important thing is finding the deals. There are people at your investment club or in your local market who would help you with your first deal once you find it.

All you are doing is negotiating with the banks to get a lower price on the home. In a short summary you are showing the defects in the home through pictures and asking the bank to take a number that works for both of you. Just do it and you will figure out what to do and what not to do.

There are some shortsale courses out there you can study up on to learn the basics but most of your learning will come in the field. There are also companies you can hire who will negotiate the short sale for you if you prefer not dealing with the "not so smart" people banks have working for them in the loss mitigation departments.

Many lenders are now asking the home to be listed on the market so you definitely need a realtor partner where this is concerned and preferrably one familiar with the process. Just keep in mind shortsales are taking a bit longer in this market due to the loss mitigation departments being backed up with foreclosures and loan mods.

I don't think you would have a problem with the financing of the home just because it's an A-Frame per say but finding comps suitable for the underwriter to sign off on might be an issue.

Call a lender in your area and ask them.

I made some great contacts at a REI club. I also made the best contacts at a small investors luncheon but for the life of me now I can't remember how I was turned on to the luncheon..... I want to say it was on a real estate forum like this one years ago.

Just keep going and rubbing shoulders like Eric mentioned. Many of the clubs are about pushing products on you like guru's books and courses etc.... but you can still make some good contacts and learn a ton.

Felix is 100% correct.... it's illegal!

Hi there! I have a cousin that lives in Sacremento and I believe he is now a captain in the fire department.

Welcome to the site!