What would you do? - Posted by tone

Posted by Todd (AZ) on December 13, 2006 at 14:37:39:

Easiest and fastest way to start is by birddogging. You already know of some properties that are vacant or needs rehabbing. Since it can take you a little while to get to learn everything for doing a complete deal, sell your valuable informtation to other investors.

Check ads in your newspaper of properties wanted or something like that. Investors place ads looking to buy properties. Contact them, see if they would be interested in what you know. DO NOT tell the address until you have something written saying they will pay you if they buy it. Typically fees for birddogs can run from $250 to $1,000 or more depending on profit potential of deal. Understand, they will not pay you for simply telling them where properties are, but only if they actually buy it.

All you need to do, is find out what investors are looking for, and drive around or call and find it. You don’t need to talk to owners, or negotiate or anything right now. Find investors through the newspaper, or join your local real estate club. You can find a listing of clubs in your area right here on CREOnline.

Earn as you learn.

Happy Investing!


What would you do? - Posted by tone

Posted by tone on December 13, 2006 at 13:00:03:

Ok, lets say that you never owned a property, you have no cash at all, and you have had a couple of bills in your name that is late every month (not so good credit). You have read a couple of books on real estate, did alot of research on the internet and other resources. And you decide that you want to jump right into the real estate game. Knowing what you know now, what would be your steps from start to finish in your first deal? I am really anxious to try it but i’m just not sure where to start! I have seen a few houses that needs rehabbing or either vacant, but I dont know how to get in contact with the owner. Even if I negotiated a deal with a seller, I dont have any contracts and dont know where to get them! Do I need to have title companies lined up? or do I need a lawyer, closing agents, etc.? I have so many questions to ask but any info is valuable to me! Thanx in advance!

Re: What would you do? - Posted by Tom Dunn

Posted by Tom Dunn on December 13, 2006 at 20:38:53:


I have written an article that might help you. You can find it here: http://www.dealfiles.com/ifiwere22.html


Tom Dunn