All Forum Posts by: Eliott Elias

Yes it is. You are just going to have to fill out the TEC one to four contract yourself, and make sure you know what kind of terms you should include. I would probably use an agent to draft up my first contract, just to make sure it's bullet proof and no surprises come up. 

1. There could be a correlation with the mortgage moratorium being lifted 

2. Some advantages are you can get away with creative financing that otherwise would not have been available. Another advantage is you are talking to the source, there is no back and fourth with the agent waiting to hear back from the seller. The con is that more likely than not when a seller lists FSBO they usually think they can get more money and are smarter than agents. These homes usually sit on the market longer than listed homes. It's like going to court and representing yourself

3. Definitely  

You could be stuck with a balloon payment, sellers usually don't give buyers 15-30 years to pay off their note. Depending on your plan with the property it could be a powerful tool.

Do you mean $3,500 in option and $1,500 in earnest? I'm seeing this more and more these days, it seems to be a go to to weed out investors. I would counter with a higher earnest and lower option period/lower option money. I personally never pay more than $100 in option. 

Simple marketing, doesn't have to be anything extraordinary. A good deal is a good deal, you just want to make sure you are protected and no loopholes when you present these deals. Facebook and Instagram are good 

Real estate is a marathon not a sprint. It took two years of hustle and educating myself on RE before I every closed my first deal. You never know where it's going to come from, build great relationships and be someone who is easy to work with. The most knowledgeable person in the room is not always the most successful. 

Many aren't found, they are created. I would target probates 

Do you know if it's a foreclosure? If so it's common they don't allow people to walk the property and only accept cash. I don't recommend auction and foreclosure properties for newbies. It takes a seasoned investor to maneuver through those kinds of properties. Condition is usually unknown, you could be dealing with clouded title, and depending on the state the previous owner could come back and reclaim the property. There's a lot to unpack with these types of properties. If it seems too good to be true, it probably is! 

I have my tenants deposit it directly to my bank account.