Real estate investing is a great way to build wealth and create a secure financial future. But it is a common misconception that you need to have a lot of money and really great credit to get started in the business. The truth is that thousands of people across the country are making money every day working real estate investment deals without risking their money or credit. You just need to know the basic methods that these investors are using.
The first method involved assuming the debt load of a homeowner who can no longer pay their bills. There are all too many homeowners who have over extended themselves or had some misfortune and now they can’t pay their mortgage. They have equity in their home but simply don’t have the time to market the house and find a buyer. These people are desperate and they are willing to sign over the home to you. You are agreeing to take over their debt and the payments on the house and in exchange you are getting the equity that the homeowner had in the house. And in most cases, these are not run down homes in disrepair. These are beautiful homes that the family is still living in. They had hopes of finding a way to get caught up on payments and just waited too long to be able to sell the home using the conventional method.
The second method is to look for a wholesale home that does need work and rehab. These are typically low end homes that are in need of repair and you can purchase them for very little money. You find the homes in this condition and then you pass them along to tradesmen or contractors who will make all of the repairs and renovations. You can easily make $10,000 on a deal like this and you never actually own the house. You can look at this as more of a finder’s fee. The secret is turning the houses over quickly so that you can complete three or four transactions a month.
Entering any new business comes with a learning curve and real estate investing is no different. The key to being able to make good money in this business is to learn the industry, the local area and the housing market. Your job and the value that you bring to your deals is that you know the properties and are able to evaluate them quickly. You know the areas to search and the criteria for a good investment and you take those great deals to the same group of buyers who know your work and are happy to pay you to find them great investments. But getting started, learning the ropes and gaining experience is not always easy. Visit www.azrealestatewholesale.com to learn about all that this team of professional has to offer you in terms of mentorship and expertise.