Updated about 11 years ago on . Most recent reply
Is this the correct way to look at real estate basics?
Hey BP! I've been spending a ton of time studying up on real estate and what I've come to form in my mind is this. For starters, you're going to have to find a good deal(with a motivated seller), then get it under contract(with the assistance of a real estate attorney) so you are the sole proprietor. Next, you get loans from hard money lenders by showing them you have a good deal. Then you decide whether to rehab the place and sell it off or tenant it...or to just wholesale the contract off to a buyer. You find the buyer or tenant and then you it under contract with non refundable escrow(or money that shows commitment). Then close! I know this was overly simplified but I'd appreciate the insight!