Hello DG Family. I hope to be communicating with you all for a long time. Thank you all for your contributions, especially for your inspirational stories.
Well, I did a lot of 1st's today. #1- I became a DG Member on this site. #2- This is my 1st Post. #3- I started a Gmail Account. #4- I created an Account with Craigslist and placed my first Advertisment, "looking for Cash Buyers". After 2 hours, I already received 2 responses from "Cash Buyers". This is very exciting to me.
I went out today, during my "LAKERS" halftime, driving around and feeling like a real, Real Estate Investor. I came across a 3 Unit Bldg For Sale. It looked pretty good from the outside: cracked paint and yellow tall grass. I took down the address and searched for it on the MLS and also searched for the Homevalue on sites "Dean G" suggested in his book, "Profit from Real Estate Right Now!".
I found the value, from these sites, are between $190k and $252k.....asking price around $150k...WOW!
I'm sure I can figure out a way purchase it, even with my bad credit, but I am afraid that my procrastination will set itself.
I really would like to turn it over to someone else and build a $15k-$20k profit in it for myself.
I will call the Real Estate Office in the morning and get more details, such as: Current and Potential Income, Expenses, Who owns it (Private or REO), and Motivation.
With a possible After Repair Value of $250k and a purchase price of around $150k, that's a lot of Equity and I really don't know what to do with the information after I receive it.
Wanting to protect myself and afraid it may be overwelming...I hope not. I need to "ACT" on this one, it may be my first of many deals.
Sorry for the long post. Today I took my Baby Steps and it feels prety good.
I hope to receive some encourging words from you all and some suggestions.....any Buyers out there?
Thank you for taking the time to read all of this from a NEWBIE.
I'm thinking a little different!
Meditation is key, the energy you put out, you'll receive back....10 fold!