Today I typed up a "Interest In Property" Letter to to send out to "Potential Sellers". I also typed a Assignment Contract but before I use it, I want an extra eye to look over it. Meanwhile, I will just keep comparing it to others making sure I have a Solid Contract. I create a Questionnaire for the Potential sellers for collecting info about the property when contacted. I just want to be sure that all paper work is professional and organized before I start signing any contracts. I am looking for home in the Philadelphia area. How do I know if a Property is over priced. Any advise on how to determine or negotiate a base price for a property when the owner is asking for a higher price. I must admit, I'ma a bit nervous but I'm determined to my portfolio and complete my first transaction. Any Beginners advise!
1. Make sure you know your numbers. What is value of property, Comps, fix up costs etc.
2. Step out on faith
3. Its ok to be nervous. It not ok to not take action.
Here is a link i did a couple of days ago for new investors.
Welcome to Bigger Pockets
"Be consistent and take Massive Action!"
Good Luck to you!
Hi @Erick Pough , welcome! Are you looking to buy and hold/flip? Or are you wholesaling? I have a property you may want to look at.
@Geraldharris Thank you so much for the advise. I guess being young and doing something different can be overwhelming but I'm determined to be successful in this business.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing