My name is Tim and I have finally taken the first step into real estate and I really need some help. I have a bunch of questions but I’ll do my own reasearch for some of them but here they are:
Where do I start? Lots of places to get confused and I’m not sure if how or where to start.
So I read about asking the seller, is it true that if I find a buyer I can contact the seller of the house and with the right words show the house even though I’m not a real estate agent or anything? Is that real?
Finding buyers. i want to make sure I’m on the same page, when you mean buyer do you mean investor or someone looking for a home or both?
I’m sorry about the stupid questions but google hasn’t been much help and trust me I’m reall internet savvy its just no making sense to me, well it is and then its like whoa! Is that really how it works?
I would like to welcome you Tim to the world of real estate investing!
How about starting with the first step, the first book, the first video and the first question? Then well move on to seconds of everything, Please!!
If you find the seller of the right property and get it under contract there are many opportunities to get a potential “End” buyer through the property and still protect your deal and your profit!
You can arrange your contingencies or get permission written in your contract to include a termite inspection, a pest control inspection, a structural inspection, an interior designer measurement inspection, carpet and floor covering inspection (For Measurements), and don’t forget the painting and wall covering inspection, pool inspection and home inspection!
And when you go out to meet each of these parties to do there work, you just happen to have a friend or a couple of friends with you (Your potential Buyers) walking through the property with you.
I always caution my potential buyer to hold thoughts and conversation till we leave the property as to “not complicate the process” of your purchase from the original seller!
Buyers are both potential investors and end buyers (Both)!
No question is stupid! It’s only stupid when you don’t ask but you have to have answers!
Tim, I’m convinced that the best place for starting your real estate investing path is either with wholesaling or lease options. They are safe, have minimal cash requirements, no need to go begging for financing, and you can see a payday pretty quickly if you do your work right.
I suggest you look into both strategies. For options and lease options I would recommend Claude Diamond or Michael Carbonare.
I don’t know much about what info is out there for wholesaling, but I’m sure someone will come along with some info.
Good luck!
Ok! Thanks everyone, wow I didn’t expect more options! Thats so cool! I’ll do some more searching around and research and if I have anymore questions I’ll ask away! Thanks!
LOL. Wow, people refuse to use the search button. Its ok though, we are going to inject .05 mL of motivation into your blood stream to get the juices flowing.
LOL, I don’t get it either, but it urks the heck out of me. This forum is huge with tons of info!
Its like going into a candy shop and asking the cashier where are the candies that have sugar in them. lol. :banghead
I can understand a brand new person not knowing about the search function. Hey, they are brand new what do you expect. lol.
In any case, I’d suggest starting out by learning a basic understanding of the different niches in real estate investing, then reading a book or 2 related to the particular niche that appeals to me. Then go out there and make a mess until you get good at it, while continuing your education the whole time. I’d bet every successful investor on here went through a similar process.
Tru, that is one of the ways that I got started. I read a couple books on lease options, rehabbing, etc… Wholesaling stuck out to me like a sore thumb. :biggrin
Get a book or 2 or 3 on Wholesaling, join a REIclub in your area, immerse yourself in this site.
You cannot act as an agent without a license (if you dont have it under contract you cannot show it to an end-buyer) there are ways around this but why bother, start your business with integrity from the start, it will carry you a long way. If an agent found out or anyone for that matter, it could mean trouble for you.
