All Forum Posts by: Derrell Barton

I personally would stay away from auctions until I had a lot more experience in REI. Purchasing a property at auction sight unseen can be very risky. There could be heavy liens attached to the property. Also, the property could be very distressed and require a lot of rehab. If you don't have the experience/knowledge in rehab costs and everything that goes along with it, you could very easily end up being in way over your head.

Loaded question must be able to get title onsirance right away. Hard to get financing from most auction how're ever Hubzu and auction. Com sometimes allow financing. Happy to assist and network

Wow.  Very ambitious. Good for you.

One way is to become a property manager and make a small % off each house you manage.  You can do that in 2-3 years.

Other way is lease options.  You find motivated sellers who are willing to lease their house to you and you in turn find tenants who want to lease with option to purchase that house.  You make $ with non-refundable deposit up front and the spread between the rents.

S California sounds like an expensive market to me.  I'm in FL.

Another way is to joint venture with investors who have the money, but need good deals.  You become the expert in finding great deals and split the rent with the investor who puts up the money.

Hope these ideas help.

Good luck.

Why do you want 50 rentals? What if you could make the same cash flow with 12 - wouldn't it be much easier to only own 12? Just a thought :)