When I attended a recent foreclosure auction, I met a RE investor. I chatted with him for about 30 minutes and he gave me his card. He said he is always looking for new investors and would be willing to teach my partner and me how he invests. From the basics he gave me in our first encounter, he buys out junior liens and then makes claims on the property at the end of Colorado's 75 day redemption period and is able to buy out the primary lien at a discount. He has either flipped or rented out over 20 properties in the last 18 months which is when he started investing.
My partner and I have been looking for a mentor and a way to get into RE investing. He seemed very nice and down to earth when I was talking to him and I didn't get a bad feeling from the encounter. He's offering to show us the ropes and I have setup a meeting with him on Monday. That little voice is creeping up right now because seems almost to good to be true.
Are their any questions I should be asking when we meet?
I wonder what he gets out of helping to absolute newbies in the same area he currently does deals?
Why show someone else your techniques?
Is there anything I should do to keep from blowing this opportunity?
Sorry for all the questions, I'm overly excited and a bit nervous. I don't want to make incorrect emotional decisions. I don't want to mess this up, but I also don't want to be taken by something that is not legit.
My partner and I have been looking for a mentor and a way to get into RE investing. He seemed very nice and down to earth when I was talking to him and I didn't get a bad feeling from the encounter. He's offering to show us the ropes and I have setup a meeting with him on Monday. That little voice is creeping up right now because seems almost to good to be true.
Are their any questions I should be asking when we meet?
I wonder what he gets out of helping to absolute newbies in the same area he currently does deals?
Why show someone else your techniques?
Is there anything I should do to keep from blowing this opportunity?
Sorry for all the questions, I'm overly excited and a bit nervous. I don't want to make incorrect emotional decisions. I don't want to mess this up, but I also don't want to be taken by something that is not legit.
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