I am starting out in Real Estate and still in the education phase. The wealth of knowledge on biggerpockets website and podcasts are so helpful!! As I have started to learn about the different niche's out there the owner financing (sub2/wrap) and (lease to own) are fascinating to me. Especially, ideas listed in pod cast 70. Thoughts on a new investor making this area is first focus? Is this an area to specialized in? If so, has anyone and you be willing to do an informal interview?
Thank you for any information or input ahead of time,
Any input or thoughts would be greatly apperciatted.
Podcast 70 didn't really go over as well as originally thought, need to search for the form review, deals that investors throw away or something like that. There are some real issues and this is absolutely no place for a newbie to start out. Sub-To or lease options from an investor to an investor that would be exempt from the new legal constraints can be a workable niche, but I'd suggest you stay away from selling to homeowners or owner occupied deals, need to be familiar with the laws and exemptions in you state. But there were predatory issues with the mentioned podcast. And, note that Josh and Brandon said to seek legal advice, it's not on them. :)
PS. The individual who did that presentation hasn't been back lately, I believe his last post here was in that thread in the forums and failed to address the issues, so far, he has left the building! :)
Bill, Thank you for your input and where would I find more information on Sub to from investor to investor to start exploring this ninche?
I say it time and time again. All of the successful investors I have met in the state of FL and especially in our area. All heavily utilize the seller finance techinic. More commony to buy and hold rentals. But there are many who negotiate a purchase on seller finance terms then assign there rights to another investor or to flip the property having the seller hold the mortgage short term.
The options are enless, Land Contracts, lease options, master lease agreements w/ options are all great examples of seller financing and can truly help you get creative when a traditional wholesale offer is denied. I strongly recommend learns this and always make multiple offers when you submit an offer to a seller, wholesale and to different versions to sell on terms.
Great information, especially coming from someone in the area!! Where do I go to learn more about these information? Why in our area does seller finance technique work well?
@Walter Pape I think honestly becausr of all of the snow birds and retiries we have in the state. So many free and clear out of state owners with so many properties and money. They understand the concept and most are not doing anything with the properties and are to far to care.
@Manny Cirino , makes complete sense. Thank you for the information. Would you recommend completing RE agent license to start in the area or go in a different direction to start investing?
I am going for my license in Sept/Nov. So yes I recommend it just know what you want it for. I want mines to salvage some of the leads i come across who wish to sell retail, MLS access, and to gain my brokers license to eventually add property management to my resume maybe even my own Brokerage.
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@Bill Gulley , I appreciate your input and would like you to explain what do you mean by assigning the contract? I am here to learn and to get better; not to be put down.
I've all ready looked into what you have said in the past and have changed my philosophy in this subject matter. Looking forward to your response
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