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Q: Real estate investment education ( No Answer,   3 Comments )
Question  
Subject: Real estate investment education
Category: Miscellaneous
Asked by: investorga-ga
List Price: $5.00
Posted: 20 Jul 2004 16:20 PDT
Expires: 19 Aug 2004 16:20 PDT
Question ID: 376875
Looking for courses, instruction, seminars on investing in real
estate, especially foreclosures
Answer  
There is no answer at this time.

Comments  
Subject: Re: Real estate investment education
From: daytrader76-ga on 20 Jul 2004 18:54 PDT
 
William J McCorkle is in jail now.  I was one of his many suckers, but
it was a learning excperience.  The problem with foreclosures is
finding one with equity, since most foreclosures occur early in the
mortgage.  I would read the lis pendens notices every morning at the
Tampa courthouse.  There were about 20-30 each day.  If there is one
with equity, you have to do a basic title search to see if there are
liens against the property.  Some liens from individuals or the city
can be negotiated.  Tax liens, especially IRS, are the hardest to
negotiate.  After finding a deal that meets these parameters, I would
go to the house and knock on the door.  Since I was getting there only
a day or two after the lis pendens was filed, most people did not even
know about the foreclosure.  One lady started crying.  I would offer
to buy the property at a discounted rate, because if they did not act,
they would get nothing.  If they won't move, you can lease-option the
property to them and let them make payments to you.  After four
months, I ended up doing one deal with opm, and made a little more
than the total I had paid to Wm McCorkle.  It was a lot of work for a
little money, but a learning experience.

If you have $$ to invest, there are many more avenues than if you must
use opm.  Tax lien sales, foreclosure auctions, and other government
auctions.

btw, imo Carlton Sheets' techniques are outdated, and not worth paying for.
Subject: Re: Real estate investment education
From: investorga-ga on 20 Jul 2004 20:02 PDT
 
I agree with daytrader76-ga that carlton sheets techniques are
outdated and can in fact land you in jail if you're not careful. 
About foreclosures I discovered some guys who are the real deal who do
make money with foreclosures even when there is no equity.
Also, I agree that knocking on doors is a pain and discouraging, but I
found an investor that has got this down to a science and makes 3-4
deals a month using ope (other people's efforts).  I don't know their
websites but you can find them at www.Ultimateforeclosuresystem.com
Subject: Re: Real estate investment education
From: owiseone-ga on 22 Jul 2004 14:41 PDT
 
I recently went to the "Robert Allen Institute" and was amazed on how
easy and understandable investing could be. They teach you at least 50
different senerios on creative financing and where and how to locate
properties. They offer a free 1 day seminar. You can check to see if
they are coming to your area. Just as an FYI, I am in the process of
closing two deals right now thanks to the workshop. It is amazing and
would highly recommend it to anyone.
http://www.robertalleninstitute.com/

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