I want to start my own business in real estate, and read about short sales. I thought that this may be a good place to start so I can build capital. I want to start investing, I’ve been a property manager for single family homes as well as two apartment buildings however, I feel there is more I need to learn before I jump in. Any advice on getting into short sales/foreclosure mitigation. I read Short Sales Magic by Tom Butler. I want to start this biz in Cleveland, Ohio. Thanks for your help!
I did Google Tom Butler before I purchased the book. I received calls about coaching before I even had the book. The book took almost two months before I received it. After reading it, I realized it was not as simple as he was making out to be in the initial e-mail and it left out a lot of information - I guess to initiate more questions(coaching). Not worth the $45 that I paid. Fat chance he would get another dime out of me. Watching the dvd was like reading the book.
However, I joined a company that I could learn this part of the business and I wouldn’t have an out-of-pocket expense. I am reading ton of books from the library but I want to learn about the market here in Ohio as well as nationally. Can anyone suggest any magazines, sites that I can give me more insight into market trends etc.,
I am currently reading many books (not paying for seminars) and getting all my ducks in a row before I start.
Rent Back Fast
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I think if you want to get into the foreclosure business, first search were the foreclosures are in cleveland, then do some research on how much the houses near it (same style, bedrooms, baths) are going for. Compare it to how much you are going to buy it for. Figure how much money your’re going to put into the house. Only buy houses that are in a decent area or you could get burned
Starting your own business is a great idea.
Starting your own business in something that you don’t know about is a bad idea. Go to work in someone elses loss mitigation department before you practise on yourself. Practise while getting paid to learn. Then start your business.
Otherwise open a property management firm, which you know about.
Best of luck
a lot of hard work……………..
no two deals are the same………..
good luck……..
See the link below. Lots of useful info there for investing and a number of active investors dealing with short-sales and foreclosures. Some will be in OH. One of the best is over in IN (look for posts by JT).
I have meet many of the more active investors who post. The site has been up since the mid 1990’s and might be the oldest RE website on the web. The individuals are very much hands on plus know their stuff.
I post mainly in the finance forum. You can search the achieves. I post under my name, John Corey
Well, whatever you do don’t fall victim to an infomercial guru promising you thousands of dollars or properties in months.
Anything you will need to know is in a book- less than $20.
some Real estate gurus get you hooked on their “program” then ask you to put $5,000 on your credit card for a Coach! Not even any kind of investment.
Watch out for these scams. Also Google Tom Butler or any other investor before you buy any “program”
When you are ready to jump in, I recommend the following site:
Good luck
You’ll receive a billion answers, because there’s quite a bunch of ways to start this. The first thing you should do is buy more books, read and re-read until your confident. Don’t go to a seminar and spend $4,000. But rather, spend $50.00 or so and buy 2-3 good books written by investors. It’s almost as good as having a mentor by your side except you’re not paying anything to them.
One thing that I want to comment is that you’re in the right path about building capital. That’s your first priority. Second is making the right decisions and making sure the market you are in is sellable — you are able to flip that property within 6 months or less.
Suggested reading below.
Take a closer look at the E-mail spam you received.
The checks are not scans. They were created with a desktop publisher.