There are two myths involved with buying and holding real estate .
There are two ways to begin flipping houses .
READY , SET , GO START INVESTING IN REAL ESTATE JIM INGERSOLL
There are two myths involved with buying and holding real estate .
1 . All houses are bought with brokers and banks . Let me assure you that this is just not true . Many of the very best deals available in your local market will never make it to the MLS . You can learn to connect with motivated sellers who must sell ASAP and must sell their homes asis . These are typically homes that will not appeal to first time home buyers and will not qualify for typical bank financing . The circumstances and conditions are what opens the doors for savvy real estate investors to buy the houses at big discounts . Oftentimes , the situations will also open the door for seller financing so you would not need to go get a new bank mortgage to buy their home .
2 . All tenants are trouble . When I was employed in corporate America and had hundreds of employees , I discovered that if I was diligent in my search , did background checks , and verified the information on resumes , I could be successful finding the right employees most of the time . The same is true with being a landlord . If you learn to carefully review rental applications , check references and previous landlords , verify employment , and carefully screen tenants , you can be right most of the time . It is not rocket science , but does require processes and discipline to not just rent to the first person who has their deposit and wants to move in as soon as possible .
If you need to create income right away , then the place to start investing is flipping houses . Flipping houses can generate paydays fast when done correctly .
There are two ways to begin flipping houses .
1 . Wholesaling
Connect yourself with a highly motivated seller who must sell as soon as possible at a big discount , learn to control the house without owning it , market and sell your equitable interest to another investor , and collect your wholesale or assignment fee . Doesn ' t that sound so simple ? It is basically four steps and a riskfree way to begin investing in real estate when you need to create a payday ASAP . It is a nice way to build a real estate income stream without needing cash or credit .