Hi Everyone,Hope you had a great weekend.
With the market in a state of suspended animation, and with people either out of work and/or clinging on to their job by a thread due to the economy, many people are looking for additional sources of income. Some people might hop onto the Multi-Level Marketing programs that are out there, and some others are diligently looking for opportunities.
There is a fair amount of people who look towards real estate investing, and they want to buy and flip homes, which is basically purchasing the home, fixing it up, and selling it for a profit. Folks, let me tell you this...it's not easy! I am one of these people who, back in 2002, was looking for additional income, when a group of friends told me that they were investing in Central Florida. I took that as my cue and was down in the Sunshine State the following weekend.
We purchased a few homes, but turning these homes around was hard, even in a good housing market. We struggled, and it was very difficult. Things finally turned out well, and I left a job at a Nationwide Corporation in which I was a Computer Engineer. This was a good thing, however, we found it more and more difficult to find people for our homes (this is how HomeRun Homes was born, but that is another topic).
What can I suggest to a "newbie", or someone that is new to Real Estate investing ? Research, Research, and then Research again. You must chose the location to focus on, and research the heck out of how the state and the county works. Do you need an attorney? A Title Company? What is legal and what is not legal? These definitions differ from place to place, so you need to research and do your homework.
We have summarized some very important items regarding investing in Real Estate at THIS LINK, and this should give you a great foundation so you can get out there, make offers, and close deals!!
Have a Great Week, and Happy Rent-to-Owning !
