I have read Dean's "Real Estate Millionaire" book and halfway through "Profit From Real Estate Right Now". I have found a few properties to be my 1st deal. The 1 that stands out is this one:
The property is in Jacksonville, FL
Cashflow duplex. $54,000 Solid concrete block construction. All tile throughout. New appliances in both units. C/H/A in both units. Seperate meters. Both sides are identical in layout, finish levels, etc. Both units are 2 bedroom 1 bath. Long term tenant(s) in place who just signed a new 1yr lease. Unit 1 is leased at $620/mo. via HUD (Section . Unit 2 is currently rented at $525/mo. Both are one year leases. DO NOT disturb tenant(s) or enter property without contacting owner/listing agent. Tax assesed at $75K+ in 2009. Any investor looking to sit on monthly recurring cashflow income will not be disappointed with this one!!! Out of state owner must sell. Buyer responsible for verifying all information contained herein.
I am a little nervous and I'm not sure which strategy to use. I have credit problems and have no money to invest. I don't know which one of Dean's strategy to use to make this deal happen. Any Advice/Input is greatly appreciated. I'm just trying to get my feet wet. I am open and flexible to other options such as a partnership, etc... Would a lease option be a good fit for this?