Real Estate Classes
first before you Start Investing with No Money Down
January 5th
2006
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RE Classes First |
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Stock investments for 2005 were less than eventful overall. The Dow
stock index was down .61 percent and the S&P did not do much better.
The S&P 500 was up just 3%. Not all investments showed such meager
returns. Morningstar found that Real Estate funds were up over 11%.
But how does a person get into the real estate business? There are some
methods of buying real estate with little or no money down. You will
need to be serious and maybe even get your hands a little dirty though.
The first thing you need to do is start investigating two avenues in
this business. You will need to look for both investors and sellers. A
great way to get to know investors is to get involved in the industry.
Take some classes and become either a licensed real estate agent or an
appraiser.
These classes are relatively inexpensive and you will likely be able to
take them on your days off or at night. Getting to know people will
take time, but if you do not have the money to invest you will need to
find someone that does.
There are many types of investors out there. They all are looking for a
deal. This is where you come in: You have been looking at properties in
your new line of work.
Every property is different. There are many motivating factors and each
seller is different. You want to find the motivated sellers. They can
be people that have a deceased relative and need to unload the property
in order to split the inheritance. Other sellers may want to sell to
avoid foreclosure. Banks may want to unload a property that requires
too much work to make it marketable.
Your job will be to “bird-dog” for the investor. Your job may be to
oversee the purchase and the revitalization of the house or multi-unit
property. Most investors will want to “flip” the property and cash out,
and not hold on to the property as an income property. It all depends
on the property and investors goal. These things need to be worked out
beforehand and you may want to talk to an attorney to draft an agreement
between you and the investor.
By
Dan Wilson
Best Syndication Staff Writer
Real Estate
Keywords and misspellings: reel estate estat
owned proparty properdy
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