Actual Real Estate Deals - 1st Hand Accounts

Actual Real Estate Deals - 1st Hand Accounts
Deals as they actually happened

These are actual real estate deals and the outcome for the investor. They will show you some of the different ways you can buy, sell, and manage real estate. The deals outlined here will serve to illustrate how to use some of the ideas presented here.

The main point I wish to get across is that there are many ways to make a deal profitable. The only limitations are your knowledge, imagination, and a willingness to seek out solutions to problems.

If you have a real estate transaction that you have personally done that you wish to share with other wealth builders, please chime in.

If I only knew then, what I know now.

In 1978 I was under the impression that I needed money to invest in real estate, and it took me until 1981 to save up $10,000 for this purpose. I finally got there by selling my 1972 Mercedes, and driving an old $700 pickup truck. I never used more than $7,000 of that money, mostly for repairs. Today, with credit cards being readily available, I would not have needed even that amount.

While I was working on saving up the money to get started, I read books on real estate investing and took a real estate sales course offered by our local board of reality. I never finished the course. All of the instructors were very negative on real estate investing and I was not there to be discouraged. I remember one class where I asked a question, something about creative financing methods, and the instructor went on a binge about how with 30% down payments on rental real estate, and with interest rates at 21%, there was no way an investor could make money investing in real estate, bla, bla, bla. I asked the instructor why he sold real estate for a living if his attitude was so negative towards it. He had no answer. I never went back to class, and instead I went shopping for a house to buy. I purchase three that year.

Having money to start investing in real estate is very helpful but if you do not have much money, you can still get started. You will need to be more creative and start smaller, but you can do it.

Key Point: You cannot make money unless you go out and make the deals. The worst that can happen is that you lose a little money and learn something. You just might make a little money and learn something. You have little to lose and lots to gain. Quit dwelling on the problems. Go search out the opportunities. Just do it!