If I was ide have more opportunity.
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Has anyone on here been successful investing in real estate? What program or who's program did you follow or did you go at it on your own?
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John Adams got me started. The $1000 boot camp; not the $60 teaser class. Worth every penny-- because unlike all the books and TV courses, he provided Georgia-legal contracts and Georgia-specific info and contacts (lawyers, hard money contacts, mortgage brokers, and on and on and on that specifically work with RE investors.). Well worth the money. This is not a "get rich quick" sales pitch or some kind of scam. He provided the blueprints to actually start a business and make money.
Now... it was not the sure thing Adams sells it as-- even though I never paid more than 80% of market value including fix-up, I got creamed in the Obama years-- one house just started cash flowing again for the first time since 2008. Taxes and insurance have more than doubled over that time, more than eating up the higher rent.
Anyway, he may be retired now, but his "program" was precisely what one needed to get started flipping houses or buying and holding for long-term rentals.
Second best: Georgia REIA bootcamp, also expensive but also well worth it. You should join the group, no matter what. Their contact list and monthly "bourse" is something you will use and get instant value from. Anyway, their bootcamp isn't as carefully put together or as complete as John's, and didn't come with ready to go packages of contracts, or names of attorneys who won't hang up on you when you describe what you want to do. But the folks there know the names you need, and you can figure the rest out. The bootcamp includes a bus tour of homes, with hard money guys and inspectors, who will walk you through an inspection and estimation of repairs.
Let me throw out an example of why you need to get actual Georgia-relevant information, from attorneys. In Georgia it's s felony to rent a house back to someone if their house had been in pre-foreclosure. This was ostensibly to prevent various abusive buy/leaseback scams, and only a fool would rent to someone who couldn't pay the mortgage-- rent will be higher than that, so how are they going to pay the rent? But if you didn't know that, you will go to jail. Investors have-- ones with no ill intent. That won't be listed in any book at the bookstore, or any "late night TV" course. Pay for good legal advice.
Now... it was not the sure thing Adams sells it as-- even though I never paid more than 80% of market value including fix-up, I got creamed in the Obama years-- one house just started cash flowing again for the first time since 2008. Taxes and insurance have more than doubled over that time, more than eating up the higher rent.
Anyway, he may be retired now, but his "program" was precisely what one needed to get started flipping houses or buying and holding for long-term rentals.
Second best: Georgia REIA bootcamp, also expensive but also well worth it. You should join the group, no matter what. Their contact list and monthly "bourse" is something you will use and get instant value from. Anyway, their bootcamp isn't as carefully put together or as complete as John's, and didn't come with ready to go packages of contracts, or names of attorneys who won't hang up on you when you describe what you want to do. But the folks there know the names you need, and you can figure the rest out. The bootcamp includes a bus tour of homes, with hard money guys and inspectors, who will walk you through an inspection and estimation of repairs.
Let me throw out an example of why you need to get actual Georgia-relevant information, from attorneys. In Georgia it's s felony to rent a house back to someone if their house had been in pre-foreclosure. This was ostensibly to prevent various abusive buy/leaseback scams, and only a fool would rent to someone who couldn't pay the mortgage-- rent will be higher than that, so how are they going to pay the rent? But if you didn't know that, you will go to jail. Investors have-- ones with no ill intent. That won't be listed in any book at the bookstore, or any "late night TV" course. Pay for good legal advice.
I was a member for a bit. I took some of Adams classes too, not the boot camp though. Some good info. I was straight out of college at the time. One thing I learned, you’ve got to have money to make money. Tough when you’re 20 something straight out of school just starting out. I did have a mentor though, that helped a lot.John Adams got me started. The $1000 boot camp; not the $60 teaser class. Worth every penny-- because unlike all the books and TV courses, he provided Georgia-legal contracts and Georgia-specific info and contacts (lawyers, hard money contacts, mortgage brokers, and on and on and on that specifically work with RE investors.). Well worth the money. This is not a "get rich quick" sales pitch or some kind of scam. He provided the blueprints to actually start a business and make money.
Now... it was not the sure thing Adams sells it as-- even though I never paid more than 80% of market value including fix-up, I got creamed in the Obama years-- one house just started cash flowing again for the first time since 2008. Taxes and insurance have more than doubled over that time, more than eating up the higher rent.
Anyway, he may be retired now, but his "program" was precisely what one needed to get started flipping houses or buying and holding for long-term rentals.
Second best: Georgia REIA bootcamp, also expensive but also well worth it. You should join the group, no matter what. Their contact list and monthly "bourse" is something you will use and get instant value from. Anyway, their bootcamp isn't as carefully put together or as complete as John's, and didn't come with ready to go packages of contracts, or names of attorneys who won't hang up on you when you describe what you want to do. But the folks there know the names you need, and you can figure the rest out. The bootcamp includes a bus tour of homes, with hard money guys and inspectors, who will walk you through an inspection and estimation of repairs.
Let me throw out an example of why you need to get actual Georgia-relevant information, from attorneys. In Georgia it's s felony to rent a house back to someone if their house had been in pre-foreclosure. This was ostensibly to prevent various abusive buy/leaseback scams, and only a fool would rent to someone who couldn't pay the mortgage-- rent will be higher than that, so how are they going to pay the rent? But if you didn't know that, you will go to jail. Investors have-- ones with no ill intent. That won't be listed in any book at the bookstore, or any "late night TV" course. Pay for good legal advice.
I agree. I know of one guy who actually did a zero-money out of pocket deal, but that's far from the norm. (Though there are more experienced folks with contacts that allow them to regularly do it.) I never even came close.
I'm going to say this too, for anybody reading. If you think this isn't a job, you are deluded. The deals aren't on realtor.com. They're in run down neighborhoods. Are you OK with parsing spreadsheets of preforeclosures, and mailing out thousands of letters per month, every single month? That's easy, though it won't really work today. I expect the deals are found today by knocking on doors. Carefully researched doors, but plan on knocking on a lot of them, and the folks inside are down on their luck and probably not going to give you a warm reception. There are other ways to find distressed homes, but they all have drawbacks, and based on the volume of mail I'm getting from wannabe investors (targeting me as a non-resident owner, therefore "landlord" who might want to sell), you'll have a lot of competition.
Good luck. If you just want a house for yourself, find a "wholesaler", or ten, and watch for a house in an area you like, buy it, move into it, and fix it up yourself. That's a sure way to profit, though not to earn a living. But if you have the requisite repair skills, it's doable, and you should be able to buy with a large discount. Wholesalers can be found through gareia.com.
One more comment... finding the money is easy. Finding a good deal is very, very hard. Hard money lenders will fight to loan you money, today, if you can find a good deal... 'cuz they want it if you fail to follow through on the repairs and sale. And if HM lenders are not willing to put their money in the deal, that's a very good indication that you shouldn't either.
Buy low sell high that’s all I know
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