I have been researching REI for several months and am about to take the plunge…it seem for me the best way to start is birddogging, I came across ‘find it and fund it’ by chance and it ‘seems’ like a good place to start.8900 investors…2 week payment…all the contracts provided for you
I am in the process of getting my action plan together and have googled the heck out of this one and am not really finding much feedback.
Any thoughts or experiences?
You are appreciated!
mellisa i am a member of the find it and fund it program my situation is different than most .if u are in a position to evaluate the property then it can work out . the only thing is you will be wholesaling not birddogging with finditandfundit you have to have property under contract they do teach u how to not put up earnest money deposits and there is a fair amount of work in it
Thanks for the feedback trouble-
They are telling me that all I have to do is find the foreclosure and get an assignment of contract on it, submit it to their investor website and in 2 weeks I get my commission…that doesn’t seem like what you have experienced with them.
Did you choose to do joint venture with them?
Again-I appreciate the insight!
i know what they told u because they told me the same thing . i have the tudor program . they didnt tell u that u have to have reliable comparables you have to have repair estamates and that the property has to meet their critieria im not knocking the system im just saying there is more work in it than they say . you have to have the property under contract b4 they will show it to any of the investors
how do you get into the find it fund it program. website? please let me know
Also, the joint venture thing is kind of out the window in this market. I did a similar program 3 years ago and back then it was 70%LTV - repairs for their investors criteria. I had a couple of properties that my personal investors through my REIA didn’t want a couple of months ago due to lack of liquid assets and they didn’t either even though they were 70% - repairs, so their criteria IS subject to change with the market fluctuation. Pretty much, you have to know what you are doing in this market. If you think you are going to go out there and get them under contract right off the bat and then 2 weeks later receive a check, you have a long road to travel in this business. I don’t even use that company anymore for the simple fact that they argued with me about the value of the properties and the reliability of my 2 awesome Realtors “conservative” BPOs…and this was 2 years ago while things were still moving so to speak. Also, they would try to negotiate me down on my “finder’s fee” everytime and I said the hell with them and moved on, and now I only contact them when I really need to move something fast to put their eyes on it too! Hope that helps!
I really appreciate the feedback everyone!
I sent an email to the sales guy at finditandfunit with some pretty pointed questions and have not heard a word from him. That told me a lot… :rolleyes
I have been researching REI for months and was really just looking for a way to get started and learn my way around the business before I jumped into wholesaling so I thought locating property would be a way to do that, I KNOW this is not a ‘get rich quick’ venture-contrary to what people say but grew up around real estate investing so the work doesn’t scare me one bit -I am glad I did not spend so much money on their course, instead I got Barry Grimes book from this site and have already gotten started.
I can’t tell you guys how much I appreciate you taking the time to comment-you saved me 500 bucks and a lot of headache