Hello Everyone, How can I find a mentor in my area? I am extremely generous with sharing my profit. If anyone has any ideas I would be very interested.
Look into Subject-to investing. That would minimize your need to find traditional financing. I would also find hard money lenders in your area to use as well.
I am still making a decent income even though I am laid off - just not on the books and I figured HM was the only way to go in my situation.
On a positive note, I found a private lender who will cover acquisition of the property and rehab, so I am trying to step up my efforts in finding my first property
Thanks for the response.
You may want to start by finding a real estate investment club in your local area.
Try the GROUPS button at the top of this page. You may find some there.
Look into Subject-to investing. That would minimize your need to find traditional financing. I would also find hard money lenders in your area to use as well.
Good Luck
Start developing a list of private investors who will lend you money at lower rates than hard money.
Run ads with "10% first TD secured as your headline"
If you have been laid off, do you have the money on hand to service the hard money loans you plan to use?
In other words, how will you make loan payments with no income?
I am still making a decent income even though I am laid off - just not on the books and I figured HM was the only way to go in my situation.
On a positive note, I found a private lender who will cover acquisition of the property and rehab, so I am trying to step up my efforts in finding my first property
Thanks for the response.
Tim