How do I learn about REO’s?
July 31, 2010 by gtsay
Filed under Foreclosure Properties
Question by mike j: How do I learn about REO’s?
I need to know what REO’s are how to do them how to learn about them and all that juicy info. I also need to know if this is the right place for a new Real estate investor to start if I have no money to start this. If not I would also appreciate that info
Best answer:
Answer by HEATHER
Mike, there is no get rich quick way in real estate. Despite the informercials, the hype, whatever, it does not exist. In real estate it takes money to make money. Bottom line. AND you have to know what you are doing. It takes money to buy your first house and if you plan on flipping it it costs money to improve it. And that isn’t always a guarantee that it will work. If there is any path that I have seen work it is to buy a 3 flat in your 20s because you have the money down and good credit, and live in one of those units. A few years later, sell that, buy a 5 flat and live in one of the units. Prove yourself, work your way up.
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