Okay, I’m just starting out in this whole real-estate investing venture, Needless to say, I don' have a clue as to what I'm doing. I'm giving myself a goal of 30 day to generate some sort of income. Of course, my credit is bad and I don't have any money to invest.
My dilemma is, I’m not sure what path should I take.
Should I start off first with bird dogging?
This way I can make some money without really have to spend a dime of my own money and seems like the safest and easiest way to make money.
Or
Should I wholesale a property?
I can potentially earn a large sum of money, if I find a property to put under contract within the next 30 days and then assign it to a buyer, but I'm still struggling to understand to logistics of doing this.
Last
There is a property right next door to me. It’s in foreclosure for about 19,000. I knew the former tenants who was renting. They have been gone for about 2 months now. I am aware that there are some issues such as mold, and few other things. The tenant didn’t pay their water bill so I do know that water bill was extremely high and the water was cut off just before they move. Is this something that I would have to take care of? Here is the description:
3 bedroom brick and frame ranch with a spacious yard, detached garage, rear patio. Sold as is. buyer to take on city repairs & put up escrow if required. no disclosures, no survey or termite provided. present detailed pre-qualify or proof of funds with offer. em certified funds only( what do that mean?). I live in a very nice neighborhood. Actually this is the only house on the block that is vacant right now. The foreclosure estimate on zillow for the property is $76,000 the zestimate is about $ 79,000. Since I don’t have any money, my guess is that I would have to deal with a private lender, but I’m not sure if any private lenders would let me finance a foreclose property to flip and I might be missing out on some other details that might be relevant to this situation too.
Now that you heard my spill. What do you think?
