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by Adem Hamidovic
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f profit, and this is
usually within 3-4 months time. Rehabbers tend to be experienced
investors with available money, or have partners who help provide any
extra cash required.
But if you're just starting out you likely won't have access to large
amounts of money. One way to get involved in this area of real estate
investing without needing any money at all is to 'flip' houses to
these rehabbers. What this entails is you going out and finding these
fixer-uppers, noting all the work required to fix the place up. You
then place a low offer in to the owner, taking into account the fix up
price and some built in profit. Once you have the house under
contract you then flip it to a rehabber for a small fee. This can
result in several thousand dollars for you, without you having to
spend a dime. 'Flipping' properties can be a great way to start your
real estate investing career.
Another 'no money down' technique that's popular on the late night
infomercials is called 'lease optioning'. This is basically a rent to
own strategy that allows you to control a property without ever taking
ownership of it. It's a slightly more complicated strategy that
warrents its own article, but it does allow you to make money in
several different ways, each without ever having to spend any of your
own money. If you're not put off by longer term investments then
lease options are definately worth more research.
There are other strategies that involve foreclosures and getting the
home owner to sign the deed over to you, but fo |
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