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bdsh99

Is There Room For One More Re Investor?

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I am interested in getting involved in RE investing but it seems as though everybody is "buyinghouses cash". Is there room for one more? How can you compete when you see sighns everywhere and the newspaper is loaded with "we buy houses cash" adds.

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Many of those who start today will be gone in two, three or six months. The "cash" signs/ads that you see does NOT mean that they are paying full price all cash for a property.

 

You want to compete? Read the "Lease Purchasing" and "Marketing" forums. ALL the old posts. Do a search for "Cooperative Assignments." When you're ready, order Michael's manual. Then you'll be thankful for all those "cash" buyers who want properties for pennies on the dollar. You'll be the homeowner's knight in shining armor when you come in a make an offer with a top purchase price, no closing costs, and no real estate commissions for the seller!

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Hello, bdsh99, and welcome to The Naked Investor.

You didn't say where you're located, or the type of real estate market you're in, but as Kim said, you can expect many of those ads to fall by the wayside in short order. Many of them are rookies following what they are seeing in the paper already. Others are seminar attendees who are all following the instructions they just heard this past weekend, (for about $4,000 :lol: ).

The optimist's view of all those ads is that the marketplace is accepting of this type of activity. That said, jump in because the water is fine.

Never concern yourself with your "competition". Embrace 'em, and then be better. Ever notice how Lowe's and Home Depot are always located within blocks of one another? That's because each believes they offer a better product. And rather than run from their competitor, they take 'em on.

The marketplace is big enough for many players. Don't sit on the sidelines and don't take my word for it. Get into the mix and judge for yourself.

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Guest Guest

Thanks Michael and Kimberly! I live in Lake County, Il just north of Chicago and have read everything from LeGrand to Sheets to Bronchick and I have not been able to "pull the trigger", maybe it is to much "analysis paralysis". I work in construction so rehabbing or just "sprucing up" a property is something I feel I can do. However like I said it seems as if everybody is in the rehab bussiness. In this market can there still be properties available that can be purchased low enough to still make a profit? I got involved in RE about 20 years ago with a couple investment properties but it was not a good experience, so maybe I'm a little "gun shy". But I want try again and your support has helped me knowing that it just could be possible to make this work. So, thank you for responding.

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Oh, man, another Cubbies fan on board! :rolleyes:

We have a number of board members from around the Chicago area. One member you might want to speak to is a friendly gent who goes by the name of Gene. He's done a few deals, and I'm sure he'd be willing to share some opinions about your local marketplace.

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They have I/We buy houses cash

 

So try I/We buy houses above market value

 

ex.

house is worth 100k

they offer 60-80k

you offer 108k

 

who is gonna win? :rolleyes:

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Cooperative Assignment. You find a seller who's willing to sell on a Lease Option. Then you find a tenant/buyer for the property. You assign your position in the deal to your tenant/buyer. Your assignment fee is their option consideration which applies in full toward the purchase price of the home if and when they buy. Everyone wins!

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Hello bdsh,

I could use a financial partner for joint ventures here in :rolleyes: southeast Ohio.

I've found plenty of rehab deals, but thus far investors are scarce. E-mail me if interested.(anyone?)

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Oh, man, another Cubbies fan on board!  :rolleyes:

We have a number of board members from around the Chicago area.  One member you might want to speak to is a friendly gent who goes by the name of Gene.  He's done a few deals, and I'm sure he'd be willing to share some opinions about your local marketplace.

 

Michael:

 

Thanks for the kind words. As for the Cubs, I think your Boston friends proved that next year might just be this year. Go Cubs Go!

 

bdsh99:

 

If you want to talk, PM me with your questions and/or phone number. I love to meet R/E contacts in my area. If you have not already done so, you should attend our local investor meeting sometime. The fact that there are a lot of people in the Chicagoland area doing REI only confirms the fact that this stuff does work. You just have to find what works for you.

 

Gene

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Guest Buckeyes58

bdlloyd,

 

Where are you at in SE Ohio? What kind of deals are you looking to do?

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