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BAD IDEA!

I would also discourage you from doing much of the remodeling/repairs yourself, I know the home improvement shows tell you that you can. I once purchased 2 properties on the same street at nearly the same time as a "handy" guy, I used professionals to do my remodeling work and sold both houses prior to the completion of "Handy's" house at a cost greater than that of his eventual listing price. Don't misunderstand, he didn't botch-up the job, but unless you can make invisible repairs and and lyour painting skills match that of a professional, stick to clean-up, carpet removal, maybe some demolition.

I would also suggest that any bids you receive for remodeling/restoration work be carefully scrutinized, you get what you pay for!

Carl

Yer hit!

Without an "Investment Capitalist" you are going to have a tough time.

Keep your job, and save some money, and build your credit!

I have made money on several occasions by buying properties from people who got themselves in over their head in real estate.

This is a business, not a hobbie. Treat it as such.....most of the successful investors I know have been capitalized prior to starting.

DON'T GIVE UP, THIS CAN BE A VERY PROFITABLE BUSINESS!

Read, Study, Re-Read, Think, Re-Read!!!

I have found that almost all of the books contain some valuable information, the tough part is determining what is viable and what is "smoke and mirrors".

The one book I have found most informative, correct, realistic, and instructional is: "The Pre-Foreclosure Property Investors Kit" by Thomas J. Lucier. It costs about $25 on Amazon and is worth it's weight in gold. Thomas is a realist, "No Money Down", "Bad Credit, No Problem", "Unemployed and Broke", are all Cr*p!!!!!!

If you are any of these, get a job, save some money, fix your credit. After you have done these things....start again!

DON'T GIVE UP!!!!

Just be real!

Would you sign over the title of your house or give $100,000 to $200,000 to one of the afore mentioned people?

Neither will a bank or most homeowners.

Carl

While working with friends is quite difficult, it is possible. I have found that most of the problems occur when all have an equal "vote", democracy is great, HOWEVER, too many cooks spoil the soup!

I would "weight" the partnership based loosely on financial contributions to the company.(not promised monies, cash!)

I use RealtyTrac, I have found it the most informative and up to date listing service. It provides Information on: Pre-Foreclosures, REO's (bank owned), auction, and FSBO PROPERTIES.

I AM NOT AFFILIATED WITH THIS WEBSITE EXCEPT AS A MEMBER!