This article is for all the newer investors who are having trouble getting started and the part time investors who are currently sitting on the sidelines.  Worried about all the uncertainty in our country?  You surely are not alone, because there’s a lot to worry about.  The economy is slowing, financial markets are stressed, foreclosures are high, and unemployment is rising.  But rather than sit around and worry, I challenge you to take action and really do something that will put you in a better financial position 6-12 months from now.  Don’t be reckless, but be pro-active. 

If you’ve been thinking about buying a single family investment property, now is the time to step up and make it happen.  Banks are desperately trying to sell the record number of foreclosure houses & very few people are buying them.  It’s the perfect time to start investing for the long term.  Transform all the worry into motivation and commit yourself to becoming a real estate investor.  Be selective and find great houses and start making low offers.  You’ll need a pre-approval letter to accompany your offers, so I encourage everyone to take the first step and apply with an investor friendly lender (like Ohio Rehab Loans) to get set up for making offers.  If you’re nervous about making a mistake, take some of the risk out of the equation by making your offers low enough to absorb some surprises or budgeting errors incurred while making repairs & selling or renting the house.  For those who simply don’t want to go-it-alone, I encourage you to find a mentor or partner who is willing to help you along the way in exchange for free labor, a free lunch, or a share of profits.

Choose an exit strategy that fits best with your financial situation.  If you’d like to hold on to the property for a while to rent or lease-option, be sure to speak with the bank you plan to use for your long term refinance loan ahead of time to be sure that’s a viable option for you.  If you are short on cash, think about “bird dogging” properties or doing some work (marketing, labor, etc) for another investor to start padding your bank account while you learn.  For people who have less than perfect credit or just feel more comfortable sharing the risk with a seasoned investor, we offer our Profit Sharing Program where we team up with you on a Buy, Fix, & Sell project.  So whether you do it yourself, find a partner or mentor, or work with Ohio Rehab, go out and make it happen!