Real Estate Investment Oppurtunity

[laquittah]

Hello My name is Laquittah Freeman. I am a liscensed realtor in the state of south carolina. I was wondering if there are any investors out there. I have several big and small investments oppurtunities if you would like to know more email me
:o

[dkBoles]

I am an investor and work with other partners which allows me access to unlimited cash and unlimited credit. In short I am looking to purchase many properties. My target property is single family homes in livable condition, between $250 - $800 and that could be available at 20-30%
discount below current appraisal.

I look forward to hearing from you.

[CSmith]

Stating that you're looking to buy a property at a "20-30% discount below current appraisal" is like saying "hey, could someone please send me some free money."

But you're on the right track; you make your money when you buy. Getting a property at a 20% discount below market value is key to making a profitable investment, but it is hard to do. This is what most of the gurus selling their high-priced courses fail to mention.

No one is going to voluntarily hand over their property at a big discout. You have to find special circumstances. A couple of years ago I got a good deal because I found a seller who was stuck with two properties which he had purchased with the intent of either flipping or renting out (never quite figured out which) but had grown fatigued with the process. He was also cheap - he was trying to sell them FSBO and was therefore getting no traffic. I offered to buy them both and close fast. I paid $270 for both properties. I have them both rented out - one @ $1,275/month and the other @ $1,290. One recently appraised for $175k, the other for $182k.

Am I a smart guy? Not necessarily. I was lucky and persistent. I happened to drive by, saw the sign, and made the call.

Another tactic is to find disasters that no one wants - and we're not talking a little bit of paint and some new carpet. Investors tend to over-value the minor fixer-uppers (and overpay) while they under-value the disasters (and underpay). Run the numbers before you buy.

Good luck. Not rocket science, but finding deals will require you to wear out some shoe leather. The gurus tell you this stuff is easy so they can sell those expensive courses.

Christopher Smith
equityscout.com