Multiple purchases in one month?
I am new here and one thing I don't understand is these gurus saying that some student purchase 5, 10, etc. in one month. How does that happen when just to close one deal with the lender and escrow takes at least a few weeks? Is this when buyers are flipping properties and not necessarily closing? Thanks.
Buying "subject to" you can find and close deals in a couple of days.
Salsaman,
You're right, however some form of investing can have closings in as little time as a week or maybe even sooner depending on the deal...
Purchasing properties doesn't necessarily mean "purchasing". It's all about controlling the properties....
Clif [ Edited by pbodys on Date 06/23/2003 ]
Hibby 76
This is exaclty what I was referring to....These type of deals can close in as little time as 48 hrs.
Clif
salsaman,
Glad to meet you.
It depends on the type of investing you are doing. If you are doing conventional investing with credit checks, down payments etc., the yes it takes some time.
If you are doing creative real estate investing I believe the quickest deal I closed was in two hours, I have done10 -12 subject To deals in one month many times, so it can be done.
I will say when you do that many deals in one month it is to much like having a job, so I would caution you against that many deals in one month. Keep investing on the lite side, spend more time with family and friends there are always plenty of deals.
Welcome on board this board, keep posting and learning from the folks here at TCI, then maybe you wil close in 1 hour.
John $Cash$ Locke
Thanks everyone. I appreciate your responses.