All Forum Posts by: Debra Muth

Thank you, my plan was to look at many different options. I actually lost that one to bid on too late for me. I found another that was next to it that is being sold on a short sale. I know what this means as well. Lot's of waiting and more governmental waiting. But I am excited to try my skills at negotiating and see what happens. In the meantime I just keep looking.

If anyone has ideas of good places to look please feel free to suggest.

So yesterday I went to look at a Hud house I have been watching on line for 3 weeks. Called to set up an apt with the relator to see and it has an offer. Oh well guess I waited to long. But while I was there I realized it was a renovating neighborhood multiple houses being renovated and a high rental area. Found the house on both sides of this one are for sale. One with a relator so not sure if I can get this wholesale but the other is being managed by a bank. I am looking at the relator one next week and going to track down the bank that owns the other one and see if we can make a deal! Feel pretty good about this process and just getting started.

I am new to real estate investing and am looking at bidding on a hud house. I have listened to many gurus..... and have read several books and think I have a good handle on how to evaluate the house but what I have come up with to bid seems very low. The house is listed at 66K there is what I estimate at 20K in repairs. It is going to be a buy and hold property. I estimated the rent at 600 conservatively it could go as high as 800 a month. If my calculations are correct I would have to bid like 23-26K in order to get it at a good enough price. Is this realistic to go this low? 

Thank you all for your comments and advice. This topic can be a little overwhelming but very exciting as well. My goal is to build a family real estate investing business. I own two other businesses one is great the other not so good with economy being the way it is but it is not loosing money so that is good.

I have the time to find properties, rehab homes and look for investors, but very little money to get started. I think the best plan for this situation from my reading is wholesale to build capital, rehab for the best return and then the ultimate buy and hold for passive income.

I live in Wisconsin so I am hoping this is a market I can make this happen in.

I really look forward to working and communicating with all of you.

I am looking for a good program to get started with real estate investing. I live in Wisconsin and want to start this as a family business.