Looking to get started

[kristianinsauga]

Hey everyone,

I have been reading and researching about Real Estate investing. the last book I just finished reading is called "Real estate Riches" by Dolf De Roos.

I came across somethign that integrigued my interest called "Lease optioning" But it sounds like to much conviencing. So im thinking that im going try this the old fashioned way. Im currently split between building a portfolio of rental propertise as apposed to flipping properties.

One of the things that i have been reading alot about is buying troubled homes for "Zero Down" is this something that anyone here is familiar with or experienced at doing so?

I look forward to speakign and learning from everyone here

Thanks


Kristian Ward

 

[randy]

My advise look for properties that you can flip but if the market goes sideways they can add to your portfolio. I bought a house in Terwiliger town to rent but after a long possesion it was worth $45000 more, good pay for 10 hours work. Get out and buy something you believe in. If you wait and learn the market will pass you by. I am in Edmonton bought my first property without knowing anything but the market is going up that one house is up $140,000 in 16 months. As for being young that is the time to do this wait till your 50 and you may be scared of the risk. You should strive to have made it by 35. By your posts I am concerned that you will be the most informed real estate investor with no properties. If you buy the wrong property then time can be on your side.
I like long term holds with the possibility of quick sale.
Distressed homes may need deep pockets for the reno`s
Take my advice for what its worth I thought about Real Estate investing since I was about 20 but waited till 31 to get involved. What do you think that cost me?

 

[Anonymous]

QUOTE (randy @ Sep 19 2007, 12:18 AM) My advise look for properties that you can flip but if the market goes sideways they can add to your portfolio. I bought a house in Terwiliger town to rent but after a long possesion it was worth $45000 more, good pay for 10 hours work. Get out and buy something you believe in. If you wait and learn the market will pass you by. I am in Edmonton bought my first property without knowing anything but the market is going up that one house is up $140,000 in 16 months. As for being young that is the time to do this wait till your 50 and you may be scared of the risk. You should strive to have made it by 35. By your posts I am concerned that you will be the most informed real estate investor with no properties. If you buy the wrong property then time can be on your side.
I like long term holds with the possibility of quick sale.
Distressed homes may need deep pockets for the reno`s
Take my advice for what its worth I thought about Real Estate investing since I was about 20 but waited till 31 to get involved. What do you think that cost me?

While I agree with Randy on getting started, I would never recommend to dive in eyes wide shut. If you do a search on Flips, flipping etc. you will find some other posts I and many others have written. I am not a fan of flipping personally - too much work. Like Randy, I prefer my buy and holds both from an effort, a leverageability, OPM, and tax planning.

Best of luck and if I could suggest anything, develop a plan and stick to it.

 

[grhutchings]

I agree with Mark on never diving into something eyes wide shut. Having said that, my advice would be like Randys. Dont spend all your time trying to learn and becoming an expert. You have a resource here in this REIN forum that if you need to know anything, there is a huge supply of like minded individuals here to help you and point you in the right direction.

As for lease options, that happens to be my passion as when I started I had no money and no credit. I took the time to learn that as well as utilizing straight options and getting seller financing and if you ever have any questions that I may be able to answer I am just an email away.

If you are looking to get started, stop looking and take action. The first deal is always the hardest, but remember you have a team behind you now!!!

Feel free to email me anytime at [email protected]

George Hutchings
www.sellmeyourhomefast.com
Hutchings Investments

 

[moneymaker]

Hi Kristian: My name is Mark Wiener. I run an Investment company here in Kitchener ON. to start off lease options are an easy and great way to make money a few ways, and as for buying with no money down can be done but it does not mean that the seller recieves no money(it can be done that way if the seller is very motivated) no money down really means no money out of your pocket. EG: say a 10 unit rental is beeing sold to you, the down payment can come out of the pro-rated rents at closing, so the money does not come out of your pocket. If you want to discuss this more feel free to call me during the week at 519-998-6637, my company has a consulting program for first time or new investors that will help you through any deal that you may have, as well as giving you more ways to buy properties.

hope you are having a great weekend and look forward to the opportunity to help you further.

Regards
Mark Wiener
Wiener Real Estate Investments
519-998-6637
www.wienerealestateinvestments.com