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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Trying to Get Started Posted by trel on November 30, 2001 at 4:07 PM In Reply to: Trying to Get Started posted by Donna on November 26, 2001 at 5:02 PM You shouldn't need anywhere near 65k to purchase and resell a preforeclosure valued at 90k. One of the benefits of this investing style, is the low cash outlay. You won't get a traditional bank loan to invest in foreclosures. Sounds like you're on track and really devoted to accomplishing your goal. That's great. Now you just need to lose all those pre-planned expenses and overhead. Leave corporate America at the office... and get creative at home. You'll want an experienced attorney or two on your team, but don't plan on paying them retail to do title work for you. Work with Realtors for the information you need, and perhaps to sell a property for you if you need him/her to, but don't plan on paying a full sales commission on every transaction. Don't over-pay for repairs/rehab. A small line of credit against the your equity should do it. Time to take off the business suit, put on a flannel (depending on where you live), roll up your sleeves and dig in. Real estate investing is in part, about finding the several ways to increase your profits in the deal. Outside professionals, contractors, title work, legal work, selling expenses, are all opportunities to SAVE money. Good Luck to you. trel Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : You shouldn't need anywhere near 65k to purchase and resell a : preforeclosure valued at 90k. One of the benefits of this : investing style, is the low cash outlay. : You won't get a traditional bank loan to invest in foreclosures. : Sounds like you're on track and really devoted to accomplishing : your goal. That's great. Now you just need to lose all those : pre-planned expenses and overhead. Leave corporate America at : the office... and get creative at home. : You'll want an experienced attorney or two on your team, but : don't plan on paying them retail to do title work for you. Work : with Realtors for the information you need, and perhaps to sell : a property for you if you need him/her to, but don't plan on : paying a full sales commission on every transaction. Don't : over-pay for repairs/rehab. : A small line of credit against the your equity should do it. : Time to take off the business suit, put on a flannel (depending : on where you live), roll up your sleeves and dig in. : Real estate investing is in part, about finding the several ways : to increase your profits in the deal. Outside professionals, : contractors, title work, legal work, selling expenses, are all : opportunities to SAVE money. : Good Luck to you. : trel Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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