Real Estate Opportunity? Advice Please! (Seller without Realtor)

[Account Closed]

Hello Everyone, my name is Xavier and I am pretty new to this site, although Ive been scanning different articles trying to learn everything I can for a little while now. I am looking to make my first investment sometime this year, and I think an opportunity may have came up. Thank you in advance for your time, help and any advice and knowledge you could share with me!

I was talking to a lady at my job and she mentioned how soon she will be selling her house to move out of state. She told me she has not listed it yet, and she may not even work with a realtor since they take a good percentage of the deal. This rang a bell in my head because I thought how I may be able to get a good deal on the property, If I could save her the trouble of having to list it and get an agent ect. I may be interested in buying to rent it out (longer term) or maybe turn around and resell it quickly if the numbers are right (shorter term). I am only 24 years old and never bought a house yet and Im not sure what kind of loan I should look into, or how exactly I want to approach this deal. I am thinking this house is somewhere around 300k give or take, which may be over my head, at least in the loaners perspective...

Let me know what you guys think!

[Ned Carey]

@Account Closed  Welcome to BP

There may be a deal here it certainly would not be just because you saved 6% real estate agent fee. There are a lot of hidden costs in real estate regardless of your strategy. You need to figure out how to evaluate deals before jumping in. 

A good place to start is the free ultimate beginners guide here on the site. 

Plenty of people here are willing to help. If you post some details of the deal w can help you evaluate it.