REAL ESTATE INVESTMENT….HOW TO INVEST AND RESELL HOUSES?

ok here is the deal. I am in college as well as have been seeking in to genuine estate investments. I have really small income as well as really small credit if any as well as wish to buy an aged residence which needs the little cosmetic repairs as well as repair it up to resale for the profit. How can I go about you do this from my monetary position?

{ 2 comments… read them below or add one }

alvinli2000 August 31, 2010 at 11:20 am

Now is too early for you to invest into real estate. Wait until you get a reasonable income job and have some extra money deposited in your savings account first.

Also, start to build up your credit score now by applying for a credit card. Use it to make purchases. Pay the bills on time. Try to keep your scores up above 700. The higher the better. Highest credit score is 850.

dogmom August 31, 2010 at 11:37 am

Before you put your credit or any of your own money on the line, I would advise you to get some experience working along side a more experienced investor. You could do this by “bird-dogging” which is essentially scouting for deals or perhaps working on the rehab end of the project. You could do either of these things part time and earn some money doing it that you could put aside to strengthen your financial position for when you are ready to take on a project yourself.

Regardless of whether you decide to take that first piece of advice or not. I would suggest you check to see whether there are any real estate investment clubs that meet in your local area. This will give you the opportunity to meet other investors, rehabbers and the like. You could pick their brains about how they got started, how they get their projects funded, maybe even work for someone who would also mentor you.

Here’s a link to a directory of real estate clubs. http://www.creonline.com/real-estate-clubs/index.html

Here a short article on bird-dogging called “real estate 101, getting started as a real estate investor” http://www.relocate-northwest-arkansas.com/real-estate-investor.html

Good Luck

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