Looking for financing help to start RE investing and pay off some bills. Can anyone give advice? All help appreciated. Thanks.
Stop looking for money and start looking for deals to buy. Made 34k this week with 2 deals and no…yes no money out of pocket. Look to buy to wholesale or assign. Then pay your bills a year in advance.
To Darin, thats pretty darn good buddy, I wish you would give me some pointers. I feel like I’m in a rut.
Every time I get in a rut I increase advertising some where. Or go talk to Realtors and let them know what I’m looking for, Then call all my bird dogs and let them know I’m ready to buy again.
Still its the end of Monday and No deal for this week …yet ! :grim Had a guy call saturday and threatin’ suicide if I didn’t buy his property… really! You thought your day was bad !!! After a long serious “man up and grow some fur” conversation, I believe he will be fine, but will check on him later. :eek
must pray now…Darin
God Winz, how did you find the bird dogs. and how did you get a buyer so fast? thanks.
As investors we all run adds in the local papers offering to pay for succussful leads. In essence we are hiring bird dogs. So a kid called me w/one deal I called 5 Realtors that I know and gave them the address and price, they went to work and one realtor sold it the next day. I assigned it paid bird dog , paid realtors and bought a pair of Tommy Bahamma shorts.
Feel the breeze , Darin
I am a realtor and looking to do RE Investing. Just found a property in Central New Jersey which can either be demolished and replaced with a new construction or be renovated. They are asking $85,000, meaning the buyer has an option to offer less.
So on this deal, you tied it up with a purchase contract, then assigned it to a customer? When you say a realtor sold it for you, how can a realtor sell it for you if you didn’t close on it yourself and just assigned it? The Realtor never listed it correct?
Thank you for all your insite!
The Realtor wrote up an offer that I accepted. When I make an offer to purchase a property my offer also includes the right for me to market the property prior to closing. I can double close or assign. I have also agreed to pay the realtor a fee. In this case I have chosen to assign AT the closing table. I did not list this property but I send out to all the realtors that I can when I put one under contract to purchase. The key here is that I do have the right to market prior to close, so I can legally accept an offer from anyone.
Having a buyers list is great, but having a hundred realtors with buyers lists is better !
Have fun , Darin
There are very creative ways to get financing so I do agree with Darin; find the deals, the financing can/will come later. Finding those deals can be a challenge though so you need to read all the information you can get, most of it free, about finding deals. The most lucrative market right now is of course the foreclosure market. There are many lists out there that offer foreclosure information. There are also many courses that teach you what to say to prospects and how to contact them.
Good luck in your endeavors.
Thanks for the information Darin!