Originally Posted by latinasojourn

yeah i know alot about it.

suggest if you are serious:

1. get your agent (or broker's) license---this will allow you to discount your purchases for any property that is listed by the amount of your commission, also gives you easy access to MLS.

2. buy residential properties in areas that are priced no more than 80-100 times the monthly rent---this will give best return on investment.

3. do not get emotional about the property---in the low end rental market people need a roof over their heads and blue collar working people are usually very steady rent paying because they are one paycheck away from the street---small 2-3 unit buildings will give best ROI. don't buy pretty, buy on income potential.

4. don't buy property that needs more than cosmetic cleanup at first---hire some independent contractor tradesmen that can do a fast repaint, new carpets, drapes, and landscaping.

5. try to double escrow if you can---try to buy on contract, tie the property up in a 60-90 day escrow, then immediately market the property and sell on contract with wraparounds, this will increase your leverage and speed the transfers.

6. look at lots of property and make lots of offers. your money is really earned in the offering stage---and making offers just requires time and gas driving around---usually you will need to make about 50 offers per closed transaction with the scenarios described above. but it is no prob to make 50-100 offers a month if you have access to MLS.

ok, learn about real estate transactions and get in the game. see item #1.