I am in need of some sound and ethical advice.
I have a wealth of knowledge from various guru’s from as far back as 2007, although they all appear to be missing information. I did what the old guru’s suggested and purchased a house, although I brought house on the down end of the market and there is no equity in my home. I currently possess a 710 credit score and my FICO score ranges in the upper 700’s. I am trying to build investment funds, while looking for alternative ways to build investment funds to become a buy and hold investor. Due to my current job, I have the time to invest but I’m searching for which way to proceed. I know the old traditional ways are harder than they were before, but I’m trying to use the unconventional methods to building investment funds; for what I am trying to do. I’ve looked into tax sales through two different guru’s. Additionally, I’ve looked into the over-bidding process to find owners. I’ve ran into a lot of non-friendly investors/realtors to find cash buyers under the wholesale sector.
I know it looks like I am all over the place. For years, I’ve been dabbing- gaining knowledge and information, but now I’m looking to become a serious player.
Also, can anyone in the Chicagoland area tell me what the true laws are in regards to hanging bandit signs.
I have already attended a few REI's. With those, if you don't have the money then they don't want to work with you, and consider you in the rim of being a "tire-kicker". Or they try to recommend a program that, if you read the information or sit through their program, it shows that it is for already established investors.
So my question is without getting into any legal trouble: Where should I start building invest funds or is there a grant available that could assist me in obtaining my first income property?
You are all over the place! Lol that's ok though happens to everyone!
Sounds like you wanna wholesale... Don't waste money on bandit signs, not right now anyway. Use direct mailing to target you're buyers and sellers. Get some deals under your belt save enough for an FHA loan and buy a multi family and live in it till you're a master at wholesaling.
Go from there just remember it doesn't happen over night. It takes months even years to reach certain goals. Rei investing isn't a get rich overnight automatic machine like the gurus spew! But if you're in it for the long haul and never give up and read BP you'll be okie dokie.
My names Nathaniel as well so it looks like you're gonna be just fine ;)
thanks for the advice
Wholesaling for now will get you going, just have to locate where the cash buyers are buying. The easiest way is to ask a realtor, but I see that you have run into a few characters. I usually ask them upfront when I meet them if they are investor friendly and go from there. Possibly set up a direct mail campaign for that target area and get some deals under contract to flip to other investors.
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