Quote Originally Posted by Hell-Fire
It will definetly benefit you. It will always benefit you until you get your own license.

I will shortly start doing what you guys are doing. Are you going for forclosures? Or even run down homes? Or just trying to buy cheap, wait a little bit and sell?

Tyler
well to start we are looking for foreclosures.. not necessary auctions but homes in the process.. when homeowners are about two payments behind or have recieved a letter of default.. thats when an investor can swoop in and say "let me take this off your hand" they get out of the loan and not have to worry about being foreclosed on.. we have looked at several properties that have sat empty for quite sometime.. we realized those are out of our reach right now.. we just dont have the funds to gut an entire home and make it new.. so we are looking for homes that are in decent condition that need cosmetic work only..

i think to begin with we are just going to flip them.. buy them cheap.. under 100k then re-sell within about 6 months and make a good profit.. we will do all the work ourselves to keep the profit up!

we found a GREAT home in woodstock.. its with a trustee now.. not gone to auction yet.. but its on the market for $98k.. the value of the homes START at $150k.. the woman just got behind on her payments and the bank wants what is owed.. simple!!

drews dad leases to own.. sometimes just rents.. i dont really want that hassle in the beginning... its hard to manage tenants.. and we dont have the funds to cover them if they dont pay.. maybe in the long run when we are more established!!

what areas do you work in? have you already purchased any investments or are you just thinking about it?