3 months ago I took the "long way home" through a neighborhood I drive by every day. The neighbor hood was decent, quite, and right by a busy intersecting freeway. What caught my attention was a vacant home at a corner, and from the research I've done homes like this are ideal for a real estate whole sale due to many cases of scenarios. As I drove through the neighborhood I noticed a few more vacant homes and houses for rent, and thought to my self these are mine and I will whole sale these.
First step Contact the owner. I got stuck. I had no idea how to find these owners. So lets write the owner a general letter and mail it to them. The letter will basically politely offer to buy the house. I got stuck again. How will figure out comps if the owner contacts me back , I have contracts but how do I fill this out paper out? How do I figure out an escape clause? Do I need a real estate lawyer?
I thought let me hold off on contacting the owners and still do research. So I held off, that was 3 months ago.
Last week I drove through this neighborhood again and those exact houses are either being renovated or up for sale. I slapped the dash board of my car and thought wow! That should be me profiting off of these homes. These were mine, I knew this 3 months ago!!!!
Im pretty upset and even more motivated. I need a starting point. Am I on the right track so far? should I be interviewing real estate Lawyers now?
The key thing is consistency. Keep analyzing deals, fill your pipeline with houses, network with other investors, make offers etc. Don't stop, keep plugging away.
You have either look back and wonder what-ifs? or move forward with more drive and determination to start!
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