There are two myths involved with buying and holding real estate.
There are two ways to begin flipping houses.
READY, SET, GO START INVESTING IN REAL ESTATE JIM INGERSOLL
There are two myths involved with buying and holding real estate.
1. All houses are bought with brokers and banks. Let me assure you that this is just not true. Many of the very best deals available in your local market will never make it to the MLS. You can learn to connect with motivated sellers who must sell ASAP and must sell their homes asis. These are typically homes that will not appeal to first time home buyers and will not qualify for typical bank financing. The circumstances and conditions are what opens the doors for savvy real estate investors to buy the houses at big discounts. Oftentimes, the situations will also open the door for seller financing so you would not need to go get a new bank mortgage to buy their home.
2. All tenants are trouble. When I was employed in corporate America and had hundreds of employees, I discovered that if I was diligent in my search, did background checks, and verified the information on resumes, I could be successful finding the right employees most of the time. The same is true with being a landlord. If you learn to carefully review rental applications, check references and previous landlords, verify employment, and carefully screen tenants, you can be right most of the time. It is not rocket science, but does require processes and discipline to not just rent to the first person who has their deposit and wants to move in as soon as possible.
If you need to create income right away, then the place to start investing is flipping houses. Flipping houses can generate paydays fast when done correctly.
There are two ways to begin flipping houses.
1. Wholesaling
Connect yourself with a highly motivated seller who must sell as soon as possible at a big discount, learn to control the house without owning it, market and sell your equitable interest to another investor, and collect your wholesale or assignment fee. Doesn ' t that sound so simple? It is basically four steps and a riskfree way to begin investing in real estate when you need to create a payday ASAP. It is a nice way to build a real estate income stream without needing cash or credit.