It depends on the investor. Some might start you out putting up bandit signs and driving around with a magnetic sign on your car. Others might expect you to do your own marketing and networking and bring quality leads to them
You could call some of the ads around your town that say we buy houses. They are always looking for good deals and will pay decent money for them. Just tell them what you are looking to do and they will give you what they are looking for. Then you can start searching for propertie that meet there needs. Fees vary anywhere from 500+ depending on the deal. Where are you located? If you want more info you can e-mail me.
Hello all! I am a realtor and I am interested in Birddogging. I have a friend that is not a Realtor that is also interested in doing it. How would you suggest we set this up so that no ethical lines are crossed?
I have a question. If you are wholesale, did you have to purchase the property before finding the investor. Or did the contract applied a clause for much time limits so you can find an investor.
For example. If I find a property where the profit margin is 30% after repairs, etc… I have the seller under contract, the closing date is in 60 days. So in this time is when I find the investor and assign the contract?
If this is the case, well I have tons of deal that needs my attention.
That’s exactly right, Abstractor. You basically enter into a standard purchase and sale agreement with the seller, include the “and/or assigns” in the buyer field, and then find a rehabber who’s willing to purchase the contract and your assignment fee. The assignment of contract is a separate form that you and the rehabber sign. In that form is the agreed upon assignment fee that the rehabber will pay you at closing.
The best way to do these deals is to have a “buyers list” of ready and willing rehabbers (or other investors who buy and hold/rent/lease). It’s much easier to call the folks on your buyers list than to shop the contract around in public.
Here’s a link to a really good teleseminar that Vena Jones-Cox gave a few weeks ago. She’s known as the “Real Estate Goddess” to the REI community.
:o Hello To all I’m a property locator . A bird dog. If you have an realestate agent broker or a investor helping you it better and more money. We are working on this deal that my investor a broker and realestate agent are all getting 31thousand dollars from it. Now for you to get that type of money you have to have an agreement with all parties involved. The property is something my investor didnt want so i found a broker who has investors that wanted the property. So we all agreed we would slipt the money. You dont have to only get 5 thousand dollare .BUt it also depends on the deal. his deal . The deal i’m speaking of is 6.6 million is what the investor is buying it for. I’m from NYC
I have listened to your post that you have placed for the teleconference from the Goodess of Wholesaling…
It was great!! I learned so many things about the business and how to look for deals.
My question is, would you happen to have or know someone who has the slideshow (powerpoint) presentation that she keeps referring to in the conference? This would be greatly apprieciated in my quest to explore and learn more about wholesaling.