If there is something I am not sure of and I am serious about the property then I call up a contractor to get their professional opinion.Not using the inspection clause also gets you a more serious look by the seller because that is one less hoop they have to jump through also.

For example, let's say that I focused my investing on areas that met the following criteria:- Taxes disproportionately low- Insurance rates below national average- Only new or fairly new homes- Had close contacts in the contractor business, who provided me great rates- Ensured all multi-unit properties were submetered- Had a brother-in-law who was an RE attorneyIf those accurately reflected my criteria and my situation, I think I could safely say that my OE would be less than the national average, regardless of how many houses I owned.The average is a wonderful thing to model against, but luckily not all of us (or the things we do) will trend towards it

Before that, it was rented for twelve months straight.I don't believe legal fees and evictions will cost much, if anything - there isn't a lot of red tape in South Dakota about evicting nonpaying tenants.During the summer I am a painting contractor and have my own scaffolding, ladders, work truck, tools, etc.

Also in regards to a subject to , do we just make a contract and I just pay him as due on that contract, or do I need to get a title search, and get the title transfered to me with the seller as the leinholder?

I will then call three different contractors to get estimates on how much the work will cost.

Get a degree that can actually land you a job if you need one.I also seriously suggest a foreign language.You don't need a degree to do real esate if your ultimate goal is to wear jeans with holes in the knees and hang out with small time contractors as you do small deals.That fix and flip stuff gets mighty old when you are old enough that your knees hurt and your back is screaming by the end of the day.If you expect to get up to bigger things and swim with the big fish in real estate, lacking education puts you at a real disadvantage.

You have to decide whether you will market it quietly and not disturb them in the process, showing the house to buyers via a ruse like "I need to show my partners or contractors", or just level with them and say you have decided that you don't want to hold the property and need to market it to other buyers, and will they please cooperate with your marketing plan?

They certainly felt he was knowledgeable and passed the "smell" test.I'm sick of going to real estate investment club meetings where gurus who look like contractors are charging newbies for know how about real estate.

Do you tell contractors that you will not be the one hiring, or do you just get them to come by and give estimates and thats that.I have a few investor savy contractors that I have not worked with in the past, but have been recommended to me.Just curious

I have since gained invaluable knowledge of the construction industry working as a General Contractor.