Ever since then, I've spent my time accumulating knowledge, honing my sales and communication skills, and finishing college.My first deal will probably be when I buy my first condo after my lease is up.

I'm sure that you can tell that I'm wanting to fill in as many gaps in my knowledge as fast as possible.I don't need money myself to invest in real estate, I just need to use opm and at the moment, I am looking to do my first couple deals by wholesaling, which will get me some money.

It means that the dust is minimized and cleaned up when they're finished.Even if you're never going to do any work yourself (which I don't recommend) you should be knowledgeable of trade terms, procedures and practices.

This has already happened and bankrupted people here in Orlando; I remember reading about it in the paper a few months back.A likely result in this market, with a legitimate company looking out for a win win situation, is that they end up having to hold onto the house for longer than they hope, taking lower amount of money if they do find a buyer, or dipping into cash reserves to keep from losing your shirt.HOWEVER, there's also a much worse possibility: They buy the home with a low price and using your credit, then they find a lender who gives them an equity loan as a line of credit or a straight second mortgage [without your knowledge].

Going and doing a first deal cold turkey with no knowledge is a good way to learn what not to do, but i think by first getting educated will help to eliminate the doubt one has, and also help eliminate the risks involved with the deal.

The only way to gain that knowledge, is through years of hands on experience.

I would like to use this site to learn more about the bulk purchasing side and offer my knowledge as far as what i know.

It will be a re-titling of the property instead of a full closing, so go with the attorney that did the original closing who has all the information and knowledge, such that it will not cost as much.Originally posted by "REI":You can send a certified letter to the lender letting them know that you have transferred the title.

By you claiming no knowledge, that have to completely validate all papers.

It takes time to develop knowledge so even that is investing in the broad sense.Josh started a thread about a failed property management firm in MO.