Good afternoon all.
I'm looking for advaice on how to start investing. Currently, I have almost nothing. No home (or apartment), no job, no bank account, nothing of significant value, horrible credit, noone to personnally borrow money from.
But I do have me. I'm smart, analytical, and I want to start making money in real estate and change my life around. Twenty-seven properties averaging $5k "finders fee" each would make me more money than I've made/credited in my life (I'm only 24). My goal is to do atleast 27 properties by the end of the year, using the techniques outlined in Dean's Profit from Real Estate Now book.
But I'd like any ideas on how to procede. I thought about going to realtors and asking about "near misses," buyers who were close to being able to buy a property but the seller wouldn't go for the price. I believe that this would present a good opportunity for me to swoop in and negotiate the seller down, depending on motives and FMV.
I would like to know what you think. Any thoughts, ideas, possible pitfalls?