This was a light and enjoyable read. Although it wasn’t packed with investing tips, there were some tidbits to be gleaned, such as:
• How to determine where real estate hot pockets are (absolute and proportional population growth, capitol growth of real estate values, weather, landlocked, tax rates, availability of work, high-tech infrastructure, access to markets, susceptibility to disaster
• Ways to find deals and renters: flyers, networking, terms like “owner will carry (OWC) or owner-carry, take over payment, desperate seller, lease-option, make offer, facing foreclosure. Find renter first, then find house.. Make offers and have the money in escrow with agent at all times. STOP foreclosure adds, put a sign in the yard, knock on doors around the property, print flyer and distribute in a radius, put on notice boards of nearby campus/office/bases, etc. Say you “specialize” in renting to _____(policemen, airmen, …)
• Some tips on lease options: Offer $1000 finders fee rather than a commission, get seller to finance and renters to pay mortgage—no money out of pocket.
• If possible, do a quit claim—no risk to you. You own title, they own debt.