Do you often find yourself staying up late at night, held hostage by glitzy infomercials? You are not alone. Many Americans
dream of wealth and security to the point of obsession. We often are eager to buy in to all the hype of the get rich quick scemes. There is a way to get "comfortable" fairly quickly with very little investment. The key is Real Estate. But, you do not need to pay $49.95 or anything at all. The advice is simple and free.
I have spent many years doing many things other than spending my money correctly. I have reinvented myself and held numerous jobs; but the one I enjoy the most is my self-employment as an investor. I am not yet profoundly rich, but I am comfortable. If you follow the basic advice of this article, you will be well on your way to accomplishing your own goals. I have been a Realtor in two states which does give me some insight, but it is not necessary to have a background in Real Estate. Just remember: Do your Due Dilligence.
First, you have Ebay which is always full of good buys if you know how to sniff them out. Go to the Real Estate tab off Ebay's home page and then you may seach by key terms, price or type of Real Estate. There are many
sellers on Ebay that offer owner financing with little money down. This is not a bad deal and I have done a few of these in the past. Most preferable, however,is a cash deal. There are sellers who pick up large areas of land at tax sales and subdivide. These sellers paid so little for the land that they have a low reserve price. If you compile your Ebay watch list and follow these
auctions you will find that on the last day half the eager bidders from the beginning of the week have dropped out and possibly bought a parcel in the same area on another auction that was closing sooner. I have gotten some wonderful deals this way. I've noticed that many people who bid in online auctions seem impatient.
Watch similiar parcels by various sellers and see what they go for. Email the seller through Ebay before you bid and ask for the exact legal description/address. Call the County Clerk in that area and find out the taxes and if they have been paid and who owns the parcel and what the tax value is. Most of the time if the town is rather rural or small, they will be very happy to give you this info over the phone. It is all public information and part of your Due Diligence.
Next, you really want to only buy from sellers who will issue you a General Warranty Deed. This is most important. There are many types of deeds. But, if you do not want to spend extra money on title search and insurance....a general warranty deed is the only way to go. Also, this is important...If you can buy undeveloped land next to a growing community, this is a great portfolio builder. This will be something that will increase in value greatly...but slowly as the adjacet community grows. What is great for you is you will have very, very low taxes to pay while you hold on to it and let the value grow. You may also use your Deed as Collateral for a bank loan for your primary home, car or anything for that matter.
Yahoo auctions, Bid4Assets.com, USAlandinvest.com, taxsale.com are also sites I have purchased cabins, land, homes, timeshares from. As stated above, Ebay is a great place to start. Check Ebay's Charity Auctions too. I saw one that specialized in selling boats, but also had a Cape Cod timeshare. I bought it for $89 and went to it last May. It was unbelievable with an indoor pool, two bathrooms with private jacuzzi. The other owners I met paid $17,000 for their units.
I can not stress how far you can go in a short time with auctions. Find your own jewel. Always ask questions and read the sellers feedback. Both Ebay and Bid4Assets has public feedback so you will know what to expect out of the sellers. Even with closing costs and taxes and your minimum bid, you may actually own a parcel of good land with a General Warranty Deed for as little as $250 total. It may just be an acro...but I can spend that much on "nothing special" at Walmart.
There are always new auction sites coming online. Google land or Real Estate auctions frequently and find your own hot spot for the mega deals! Also, check in your local paper or at the Courthouse. Many towns have there own auctions of local property online on their county website, usually .org or .gov. You may find a steal in your own backyard. Good Luck and happy bidding!