Getting Started In Real Estate Investing

When I was getting started in real estate investing I was overwhelmed by the amount of information and strategies that were out there. The best way to keep myself motivated and pushing forward to closing my first deal was by reading success stories. I knew other people were investing and making huge profits and I found that to be inspiring. It made me work harder knowing that it really was possible for me to be a successful real estate investor. Now that I have been doing this for five years, I think back on those days when I was getting started. I remember how essential those inspiring articles, blogs, and stories were to me. I wanted to share a recent deal that I have completed that hopefully make you realize how attainable a career in real estate investing is.

In my area, the market has not been nearly as affected by the rising foreclosures and the fall out of the mortgage industry in comparison to larger cities around the country. Recently however, this has changed. It seems that everyday I see several ‘bank owned’ properties going on the market. These houses are extremely good deals and it took me zero effort to find them. I am making offers everyday on bank owned properties. I recently bought a property that was bank owned and listed on the market for 89,000 dollars. I offered 80,000 and closed on it within ten days. This house was such a good deal that there was equity in it the day I bought it without doing a single repair! My intentions with the house at first were to purchase it, renovate it and resell it to earn a profit. However, once I analyzed this deal I realized there was a better way to make money on it. I decided to sell it as-is, make some fast cash and move on.

I listed the property for sale for 109,000 as a ‘handyman special’ trying to attract local investors and rehabbers. I ended up receiving an offer and we settled on 102,000. I closed on it yesterday (September 5, 2008)! This is a strange concept when you consider the details. Many people may wonder why the real estate agent for the bank didn’t list this house for sale for more money. That just shows you how badly these banks need to unload their inventory of foreclosed homes. We are here to help them do that! This may not be a “homerun deal” but these types of deals keep my business running everyday. This profit couldn’t have been any easier to earn. I only walked inside of this house a few times! I didn’t invest even a single dollar into the property. The best part is, I have the opportunity to do several of these deals per year aside from all of the other niches of real estate investing that I use. The deals are out there and there is a lot of money to be made!

Article Source: http://www.realestatepropertyarticles.com.

About the Author:
Brian Ducharme is a full time real estate investor. He started investing in real estate at the young age of eighteen years old and has currently been investing in real estate for five years. He is an experienced investor within all aspects of real estate including rehabs, short sales, "subject-to", and wholesales. For more information you can view his website at http://www.learntofliprealestate.com/ and you can receive a free miniature investing e-course just for visiting!