I don't know the first thing about it. I would like to buy trailers or houses and do the rent to own thing. does anyone have experience with this? I'm tired of working for someone else and getting no where. Any information would be greatly appreciated.
2007-09-25 05:19:32 · 4 answers · asked by TABBY 4 in Business & Finance ➔ Renting & Real Estate
You will need money, yours or other people's, good credit, a strong work ethic, and an education. Tallk to realtors, investors, bankers, in the area you are thinking of doing this. Do this prior to quiting your job to be certain that it truly is what you want to do.
2007-09-25 05:50:12 · answer #1 · answered by Christiane 3 · 0⤊ 0⤋
Right now its a buyers market. So BUY BUY BUY!!! Here is what you want to look at. Look at what the house was worth 3-5 yrs ago. And will be worth in 3-5 yrs. Look at old sales in the area. If the house was purchased for say $100,000 in 2002, and you can get it for $70,000 now jump all over it. Always try to stay at about 70% of what you think it will be worth in the future. So if you think it will be worth $150K in 5 yrs, then dont pay then $100-$110K for it now. This way your mortgage payments will be cheap, and you can get renters in there faster with a better house at a better price.
2007-09-25 14:16:24 · answer #2 · answered by justin g 2 · 1⤊ 0⤋
Firstly ask yourself what do you really want. Are you patient and tactful enough to handle difficult customers? Read up on the rules and regulation of the paperwork that need to be done in your country or state. Keep improving yourself.
2007-09-25 13:11:50 · answer #3 · answered by Terence Wu 3 · 0⤊ 0⤋
great career but right now very slow. good time to get your experience and feet wet and in a few years will be very lucrative again.
2007-09-25 12:26:48 · answer #4 · answered by Michael M 7 · 0⤊ 0⤋