Who would be a good person to go to for real estate loans?

Question

I'm looking to get into real estate investment. I have no real money, this would be my first career and I'd like to start with tax sales. Do you know of anybody that would help me get started in Dallas?

Answer 1

Your mom or dad. Better yet, kill your parents and take their house.

Answer 2

not under 2 years from a financial disaster 7 discharge date with a FHA , VA or USDA insured reported and solid re-accepted credit and not under a 620 score interior the direction of three comments all debtors. The underwriter might attempt very not straightforward to kill the deal if in any respect conceivable. time-honored loans won't take place for a minimum of four years after discharge i'm a private loan banker in TN

Answer 3

Here is how you do this without being intrusive or begging.

If you can, go to work for someone like an attorney (someone who has lots of loose cash laying around) part-time. So something like file clerking or office help. As opportunities arise, get to know the person and let them get to know you. When the opportunity jumps out at you (and it will) tell him/her your plans. If you build a rapport with them they will probably write you a check on the spot.

The key here is to get to know someone who has lots of cash and no time to invest it.

I did this without that intent in mind. I work at a Law Office and have a real estate license. The attorney has lots of contacts, lots of cash and has no time. I get RE deals, loans and business transactions just sitting there. Give it a go.

Answer 4

The best source is the seller of the property you plan to purchase. If the property he is selling is worth say $200K and he owes $150K on his first mortgage, you assume his $150K mortgage and have him take back a $50K second mortgage.

Answer 5

there must be a lot of people in a town that size that are stupid enough to give you money. Rev Tilton does ok there...
doesn't he?