Real Estate Investors...Holla!

[nevaehinvesting]

I'm real new to the REI game and I'm interested to know if any of y'all invest in any Real Estate (especially in Houston).
I guess I'd like to see what creative techniques y'all use or what niches y'all specialize in. I've only Flipping(Rehabbed) one house and I'm loking for my 2nd, 3rd, 4th, etc now.

Has anyone had success doing any 'No Money Down' deals(no of your own $ anyway)? Anybody out there doing this stuff?

 

[Killer Bees]

I am trying to do this too. Hit me up. Maybe we can help each other. I am familar with creative techniques too. I haven't found a good house yet. sell_your_home@hotmail.com

 

[Bartram]

Tax sales on the home front.

One good way to acquire real estate, especially in your home town where you "know the ropes" is to go to the tax sales. Generally you bid on the properties and they are yours unless they are redeemed, at which time you are refunded your cost plus interest and any improvements you make to the property. After a given amount of time (3 years I think), the property is yours and you are sent the deed to the property.

"folks" CLEAN UP doing this in my small town home town. My father has done it over the years and I started doing it when I started working and accumulating loot. It's a very easy way to invest money in a safe area that earns interest at the worst or acquires property at very reasonable prices at the best.

Granted, i'm speaking from a small town/rural environment where the competition is not that of a metro area, but the concept should be adopted by folks everywhere especially in their home towns where they are intimately familiar with the neighborhoods were the property is that is up for auction.

 

[KennyReno]

Have someone you know to give you the trades tricks and tips.

A little over three weeks ago, I took a step that no one on my branch of the family tree has never taken. I bougt a house! For a two- bedroom, one bath, and a big livingroom for a little over $15 grand was a steal. It's in a neighborhood I'm accustomed to, the hood of course. But the main person who got me through the proper channels was my Godfather. Ever since my mother died late last spring, he's been there for me as if he were my father (I'm like the son he never had). He's known me since I was first born (My mom and his wife, my Godmother were best of friends since high school: 26 years), and my mother entrusted both of them to watch over me after she died and so far to this day they've been there for me 100%. He explained to me all about home inspection, like the condition of a foundation, the roof, water leakage if any around the house and how to pick up a contract on a foreclosed home when its released. Before even considering buying a home you need to make sure you have everything together, such as the financials and a proof of funds (showing the seller that you actually have the proper amount of funds that's accessable) if its necessary. Make sure in your mind that you want to take this step, it maybe one of the biggest decisions you ever make in life. A word of advice, if you have way more than enough money to purchase a house then buy it all with one big payment, cause my aunt is catching it with a mortgage. And if you do want to mortgage a home, get a quote along with second opinions and then some to see which one is flexable to your financial standards. And from personal experience, when I made the decision final, got my keys, and got the deed, I knew I had made it into another level of manhood, and nothing in the world is like something that you can say or shout out "It's mine. This.......is my house!"
And most importantly, just like a car, get insurance for it!

Check out some websites regarding this to further help out my explanation and any other answers to your questions, for I'm still in learning mode. I want to do this for a living when I move out of the US.