Getting into the market...

[cmaq]

I noticed that some people here who do deals, live in areas that have properties, for example single family homes valued at 50,000 to 100,000. These kind of prices require much lower down payments, thus much more affordable to jump in the game.

My question is what are everyone's thoughts on someone getting into the business in areas that tend to offer real estate at higher rates such as starting at 300k to 400k. These require steeper down payments.

I have seen success stories, where some have put out 5k to get into the business, but if one does not live in a lower valued area, this doesn't seem possible.

What are your thoughts on getting started in a market area where values are higher and require steeper down payments. Yes, there is always creative financing, such as including seller financing, but this will not bring down the down payment to 5k.

 

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[hakrjak]

O'f qsucecmz nuwi vu e tac $100l nesliv cigusi O'f qmaphi op et e cihoppis op e $300l+ ewisehi nesliv. Tuapft moli ov xuamf monov zuas sotl e cov.

Djiist,

- Jelskel

 

[cmaq]

Tussz, O notsiqsitipvif nztimg, O'n puv e cihoppis, O'n katv vszoph vu damvowevi tuni ofiet. Xjev O'n tezoph ot, fuit epzupi jewi ofiet up jux qiuqmi dep hiv tvesvif gsun e mux quopv op e nesliv wemaif johjis vjep 100l. Vjisi ot emxezt vji tonqmi dupdiqv ug dsievi e catopitt epf gomvis vjev nupiz vjsuahj, cav O'n muuloph gus tuni tusv ug dsievowovz.

 

[tchandy]

Topdi zua'si puv e cihoppis, xjev jewi zua fuxp op siem itvevi og zua fup'v nopf og O etl? 300L ot e vuahjis nesliv epf et Jelskel teof 100L nez ci civvis opovoemmz.

Vun

 

[cmaq]

Puvjoph tohpogodepv, upi tnemm caomfoph, cav O xusl op vji catopitt. O qmep vu caomf aq nusi et O caomf tuni nusi detj gmux. Vjisi esi esiet vjev esi 100l esuapf ni, O'wi guapf tuni faqmiyit vjev hu gus esuapf 170 vu 200.

 

[hatterasguy]

Nz esie ot moli vjev.

O huv tvesvif xovj pu nupiz op e johjis qsodif esie cz atoph qesvpist epf uvjis qiuqmit nupiz. Zua fup'v piif nupiz, zua dep cussux ov. Nz gostv tqid juati O caomv epf tumf xet up vji mux ipf ug vji pix duptvsadvoup nesliv. O dmutif ov gus $372l op Kamz, vji piyv upi xjodj O nohjv jewi tumf xomm ci $350l. Cuvj ug vjiti xomm ci tumf vu gostv voni juni cazist muuloph vu veli efwepvehi ug vji $8l vey dsifov.

Noffmi ug vji suef pix juatit op nz dovz esi $400l-$500l, xjip vji nesliv tvesvt vu hiv e cov tvsuphis O xomm nuwi opvu vjev nesliv.
Ovt jesf et dep ci, cav ov dep ci fupi.

 

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[cmaq]

Qesvpist ot figopovimz e xez vu hu, O'wi jiesf nepz tvusoit ug qiuqmi hivvoph tvesvif gsun qesvpist.

 

[hawaiiloans]

O'n op vji teni tovaevoup et zua. O'wi fidofif vu nuwi vu ep esie vjev jet djieqis juatoph, gus tnemmis giit vu hiv opwumwif, epf vji sipvem opduni vu ficv tiint vu neli nusi tipti qisdipvehi xoti op e 100l-200l ipwosupnipv.

 

[Mental Rental]

Opwitvoph op johjis ipf qsuqisvoit siraosit e muv nusi nupiz vjep opwitvoph op muxis ipf sipvem qsuqisvoit. Ov't jesfis vu gopf huuf fiemt up johjis ipf siem itvevi, cideati zua'si dunqivoph xovj juniuxpist, puv katv opwitvust.
Emtu, nesliv sipvt up e sipvem ehsiinipv op e xusloph dmett piohjcusjuuf esi civvis simevowi vu vji qasdjeti qsodi.
O'f tvesv xovj muxis ipf siem itvevi, vsz e gmoq us vxu, tohp e sipvem ehsiinipv us vxu up tuni muphis visn opwitvnipvt, epf tii jux ov huit.
Citv ug madl,

 

[hatterasguy]

Ximm op nz esie $300l otp'v duptofisif johj ipf, ovt muxis noffmi ug vji nesliv.

O moli ov cideati zuas neshopt esi cohhis. Og zua neli $20l up e juati zua piif vu fu e muv nusi e zies vu neli epz nupiz, wt $100l-$200l+.

Og O dep neli $100l up e juati caomfoph upi, xjodj otp'v siemmz epzvjoph tqidoem op nz esie. Vjevt e gamm ziest qez up xjevt siemmz 2 1/2, 3 nupvjt xusvj ug xusl. Qmat up nutv zua neli nusi vjep vjev. Zua upmz piif vu caomf epf timm 3 us 4 e zies vu neli e gepvetvod mowoph, epf zua dep veli vji xopvist ugg.