All Forum Posts by: Christopher Moore

First step is to go through the education section here at bigger pockets and take their free course. then check out the book by Brandon Turner "The Book on Investing in Real Estate with NO (and low) Money Down". Great info on how to get started. GL to you.

when i rented my trailer out they usually brought me cash. Then i set up a business account at the local bank where they lived and I told them they could run down the street to my bank and deposit it directly into my account. It was free to do this. Now that i am back to renting an apartment i pay my landlord this same way. 

@dean boyer. wow you are really close. My first deal was a trailer in plainview, ne on a private lot. I bought it for 3k and lived in it for about a year then rented it for a while. The renters trashed the place and I spent about 700 fixing everything they ruined. After that I sold it to a friend for 5k and they been there ever since. Right now I haven't begun my real estate investment journey. I don't have any properties yet I am just educating myself and setting up my goals and action plan. I am eager to get my first deal going but am patient enough to search for a great deal rather than settling for a bad one.

owne d. Thank you for your post about due diligence. I will definitely do research on the house, and neighborhood before any written contract is signed. I know all too well about the north Omaha area and the higher crime rate due to gang activity as my wifes gf moved up here from North Omaha because of it. My offer was simply to let the guy know I was interested and his asking price seemed reasonable enough but nothing is concrete yet.

Thanks guys for all your posts. I will definitely keep educating myself. However, I was talking to a co-worker about my new venture into the REI world and he told me he has a house in North Omaha NE that he is currently under mortgage for it and renting out now to pay for the mortgage. He makes about 100 dollars a month after the mortgage payment taxes and insurance. This was his first house with his wife and they lived there for 5 years before job relocation in Norfolk. This would be a Cash deal only as he wants to pay off his mortgage and have a little down payment for a house in norfolk. He already gave me a selling price and i already made him an offer. If he accepts I will have the option to buy contract set up by the end of the week with a 30 day term locked in. I am working on Helping them sell their home in Omaha and buy one in Norfolk. Any investors interested in a Cash Sale that can close within that 30 day timeframe? Looking to build a buyers list as well in case I find more deals like this. I also found a few vacant forclosure houses in Norfolk selling for half the value they look like they are in decent shape but needs some rehab to get them looking new again. I thought about offering one of these to him and overseeing the rehab project. Would this be a good way to go?

Hi I am Chris. I am a full time desk clerk at a hotel and looking to get into real estate investing. I have heard horror stories about deals gone bad, and also some very profitable deals. I live in Norfolk, NE and plan to start part time but because my town has only 25,000 people living here it is overcrowded with real estate agents, investors, etc... I decided to expand to Sioux City, IA, Yankton and Vermillion SD, and Omaha, Lincoln, Fremont, Grand Island, and Columbus, NE. All of these areas are within 125 miles of me and all are bigger cities with colleges. I have done lots of reading, research, watching webinars and videos, and finally landing here at this website. I seem to be filled with more questions than answers so any help getting me started on the right track would be appreciated.  

From what I have learned the last few days on this subject, the guru's have showed that you find motivated sellers, throw an offer and write an option contract locking you and the seller in for a designated price for a certain amount of time. Then you "matchmake" by finding a buyer to buy the house "AS IS" for 5k to 10k more than the agreement between you and the seller, then you close both at the same time and take your "Finders Fee". I still can't figure out how to do this exactly because these gurus want me to buy into their "Program" which they will then explain step by step how to fill out the contract with the seller and the buyer, close the deal with both the same day and how to collect your fee. Another fishy guru promoted finding FSBO setting up owner financing, and then Leasing the property to someone else in a rent to own contract. They said I would need two separate documents to do this. A "Rental Agreement" then a Purchase option agreement. The other two "Creative ways to get houses was "Subject to" where you take ownership of the property while the previous owner keeps the mortgage in their name and you take over the payments. Then the Lease Purchase option where you take over the mortgage payments and the owner keeps the property until the tenant gets a loan. The Gurus said you can move other tenant buyers in with the same type of contract but at a higher price to gain cash flow. Are these even legal? I am a newbie and would like to start off doing what is right and ethical.