All Forum Posts by: Stephen J Davis

You don't have enough information to assess this deal. Are there HOA fees, utilities or any other expenses. What has every other duplex just like it sold for? You need a lot more info.

This all depends on your financial position. The goal is to get enough real estate that the income meets and exceeds your wants and needs. If you are starting with no money or credit, wholesaling is the way to start. Once you have some money saved up, start flipping and buying rentals with the profit from the flips. 

Step one: Join a local real estate investor group and build your buyers list.

Step two: Start locating and evaluating deals.

Step three: Get one under contract.

Step four: Assign your contract to someone on your buyers list.

Are they on a lease? If so, wait until the end of the lease and then do the inspection and get them to sign a new lease. If they are month to month, do the inspection now and get them to sign a lease. It would also be in your best interest to run a credit and criminal report before signing a new lease.

Now is always the best time. Join a local real estate investor group to make the contacts you are looking for and take a course like mine or somebodies that will kick start your investing career. This is not rocket science, but it will take you 5 to 10 years to learn what you could learn in a one day class.

I use www.tenanttracker.com for credit and criminal reports.

I like www.cozy.co for property management and collecting rent. Check them out.

www.Cozy.co is my choice. Thanks.

A great source is to join a local real estate investor group as well to get around passive investors. My students raised enough cash to buy over 1200 units in the last 90 days. We could help you on future deals.

I used multiple mentors when I got started so you are on the right track. My mentoring includes wholesaling, flipping and rental of single-family and commercial property including apartments. My students bought over 1200 units in the last 90 days.