Im half way there to learing the ropes.

Bird Dogs, Wholesaling
1

I want to start off my Real Estate career by “flipping” properties to investors,and from what all i read and learned I believe these are the steps…

(1)Find investers to flip deals to.
(2)Find a good deal on a property.
(3)Go to office supply store get a Real Estate contract draw it up.
(4)Put down a deposit to make it a binding agreement.
(5)Assign the contract to the Investor.

Now i got these steps down pat its just the other half of the process that im still confused on.Could anybody explain the next steps in detail to me so i could fully understand. Thanks alot

  • JCL
2

Not sure what you mean by next steps. The steps you have are fine, and you can find a contract to use on-line. As most people will tell you, the hardest part is always finding the deals. If you find a deal, it’s easy to find a buyer.

3

Well the next step would be to cash your check, when you get it… duh :stuck_out_tongue:

4

Next Steps

this is where most people screw up.

  1. do it
  2. do it
  3. do it

There are far too many investors out there who know everything, but never pull the trigger. “Getting ready to get ready” does not pay the bills.

Go make it happen

Eric Medemar

5

tcwood - Do you have a link to where i could find a contract from?

ericmedem - I understand what your saying but i want to know what to expect before i do it.

So all i have to do is assign a contract,i dont have nothing to do with closing ect.?

6

One place to get a contract is from Steve Cooks site www.flippinghomes.com Once you get a contract you want to take it to a title company and make sure the title is okay before you try and assign it.

7

I would align myself with a local title company, I get all my closing fees free from them, that would be something that you could work out with them though. In the mean time I would call the title companies to see what the standard procedures are in your area, find out if they will allow back to back closings, with you buying with your purchasers money then selling to him/her. If you are doing an assignments find out your different options for being paid and the protection mechanisms that you can put in place.

I have found in my market that things vary hugely between title companies so interview quite a few. I hope this helps

Eric Medemar