All Forum Posts by: Jeff Fairchild

Who ever said anything about paying you back with interest? You take your $8000 or whatever the amount is, you bring their late payments current, then you buy their home subject to.

It seems like you have not read much yet. I have spent the last 3 months reading about 100 hours of info on investing and I barely feel like I'm ready to get started right now (plus I have $0 at risk, not $65,000 like you) So at this point don't ask us "how do you invest in forclosures" if you haven't even read 1 book on the subject.

Please be warned that you are on the road to losing all of your money (or at the least getting a low rate of return) if you get started right now without learning a lot more.

Has anyone used a preformatted website and had success? Should I do one of those or just make mine from scratch and reinvent the wheel?

maynard76,

Since I can't afford the thousand dollars for her course, can you tell me some of the most important things you learned from it?

When you owner finance a deal you keep the mortgage yourself and make the payments? So the buyer sends you one large check and you keep some and pay the mortgage each month?

For repairing your credit, go here:
lexingtonlaw.com

From what I've read, some of the best uses for your funds would be:

Making up the payments of someone in pre-forclosure and in a subject to deal

If you're fixing up a property and the hard money lender won't lend you quite enough money, but almost, use your funds for the excess

Haha, no I'm in Washington. What if I were to find an agent who is also an investor himself. Is that dangerous ground (as he may take the best deals for himself) or could I still get something out of it? What would I have to be careful of?

I've seen an ad in the paper where the investor was looking for people with I think a self directed ira to put up funds into houses. Is this a good way of looking for private financing?

I'm looking for a way to buy houses very fast without using a hard money lender and without an equity partner. I've heard of doctors/lawyers loaning like $500,000 out at like 8%. What is that called and what would be the best way to find someone like that. How fast would that person be able to acess their funds?

ramosjg,

Go to a local investment club meeting and look for a mentor there. I think they would rather just get paid in getting a good discount on a wholesale deal you sell to them instead of 20% of 5 deals.

Is there a way to make money off of buying directly from a builder who is trying to sell off excess inventory? I saw an ad in craigslist saying that you don't need any money down and you would have 20% equity from the start.

What is the method that you use to prequalify sellers before meeting with them to negotiate a deal?

Have you found it hard to try to lower their asking price in person?

What are the key things that you look for when figuring out whether you should spend more time with this seller?