I am breaking into the real estate investment game and I want to know how to first approach FSBO's without sounding incompetent. Also I want to network with professionals in the field but as I hear they will often ask what do I bring to the table. Being that I don't have much to bring but a Finance degree, I was wondering does anyone have any ideas on how to become polished?What is the best way to solicitt to 'for sale by owners' to do an assignment?
Try networking at your local Chamber of Commerce. They often have networking breakfasts or lunches.
RE: FSBO's - Do you want to purchase these homes? Ask for information like #bed #bath sqft etc. Just think what you care about in your own home. Recent updates to major appliances, carpet, roof, heat/air, etc. Any title problems, foreclosure, bankruptcy, etc. (Owner's sometimes get sticky regarding their personal finances, and might not appreciate too much inquiry.)
Try calling a mortgage company to find out what you would need to buy the house. Do you want an interest only loan, are you going to need an appraisal, survey, flood insurance, pre-payment penalties, etc. If you plan on flipping houses and need financing, a good loan officer will take time to help with most questions.
