Okay,brand new at this and want so desperately to succeed in RE investing but like so many others no money, bad credit.
Here is the scenario: After reading Dean's books, and focusing on the wholesaling aspect for obvious reasons, I looked in my local paper want ads, and found something that looked interesting,which read "(2) houses appraised at 145,000 each, will sell for 119,000 on half acre lot, houses are like new." So I called out of curiosity. The owner is a builder and told me he built these two homes 3 years ago and he rents them out for $1,200/month each. I have not driven by yet to look but will this weekend. He told me he just put the ad in paper last week (around 7/1).
I am wondering how to handle this - it sounds great, but then I am a very, very new novice. What do you think....is it something I should try to wholesale, or lease purchase or not worth it.
I should mention that he says he is tired of renting and just wants to get rid of them because he has so much property on his hands right now - which to me sounds like he is trying to liquidate some of as he told me had other property such as 5 Jim Walter homes, never lived in he bought when they went out of business here, and 2 mobile homes, etc.
Thanks for any insight as I am warrior and determined, but absolutely no money or credit - only determination!!