OfflineI have just finished reading deans book for the 3rd time in a week. i cant seem to put it down. ive been taking notes and going through this book like crazy. its like i am addicted. lol. i am really interested in locking up deals and assigning them to other buyers. i feel like i am ready to start but i just dont know where to. i keep asking myself should i find the buy/investors first, or should i find the sellers first. what if i find a seller but have no buyers. somebody please help! im driving myself crazy! lol
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Hi Wrldfamous,
I too am new to RE investing. I believe the first is finding an investor friendly agent. For my self I think I found 2 of them. But time will tell.
But at the same time you should be looking for buyers and sellers. Maybe you have to do a little multi-tasking. They both are very important.
And I am also addicited to his books. Like a drug. Gets my mind racing around and thats all I can think of.
But always try to keep going forward.
Here is a good post:
http://www.deangraziosi.com/real-estate-forums/local-networking-and-disc...
Reynolds & Haidee
Hey Tim,
you already answered your own question and you are right (what if i find a seller and don't have a buyer)!
Kentucky is a little more challenging because only two counties are on computer, but persistence will get us there.
Use your agent exactly they way Dean describes in his newest book.
Good luck to you.
Thomas
that is true an agent will send you a list of cash sold prop's which will tell you who the buyers are in your area and start sending yiou listings to make offers on. i have a lot of experience w/agents and having a good or great agent can make all the diff in the world, great job on reading the books and being fired up, good luck.
Quitting is forever pain is temporary
You start, the point is to START!! It takes time to build the list, but the key is to keep building it and do not stop building. How long you should build your list? UNTIL!!
K. Michael Fishbaugh
Some of you will rebuild the deserted ruins of your cities. Then you will be known as a rebuilder of walls and a restorer of homes. Isaiah 58:12
It won't do any good to find deals if you have no buyers.
If you have a real estate investing club in your area, attend a meeting. You can find buyers there.
Or, put out 25 bandit signs this Friday.
Yellow signs, black magic marker.
Must Sell!
Nice 3b 2ba home
Below Market Price
###-###-####
When they call, tell them. Man, I'm sorry the house is no longer available.
But, you are constantly finding great deals and would love to
take their information on what they are looking for, price range, area, etc. and you will be happy to contact them as soon as you have something that fits their criteria.
Bam. Buyers list. Then go out there and find some deals to send to them.
You will likely need an RE agent to find some properties, or you can use bandit signs for that too. I Buy Houses, Any Condition. All Cash call ###-###-####.
Lock those babies up under contract, add your markup, send to buyers and see who bites. You'll also need to find a title company to do simultaneous closes for you.
Hope that helps...
An hour of effective, precise, hard disciplined thinking can be worth a month of hard work. Empire builders spend hour-after-hour on mental work while others party. Then after the thinking...they take action.
I can suggest to start close to home with bandit signs for sellers. Ghost ads on craigslist for buyers. A investor friendly realtor for buyers on trulia.com. Local REI meeting on meetup.com. A few free sights for networking is always a great place to get involved in such as linkedin.com reiclub.com realestatedealmakers.com. Advertise or search on craigslist.com backpage.com google+.com and of course here in the classified section. MOST inportant is to follow Deans book EXACTLY word for word and step by step. DON"T change a word or miss a step. Hope this helps
That is where you need to start. Build your buyers list first, as you drive around take ALL of the phone numbers of “I buy Houses” signs and call them, find out what they are looking for. Take all the notes you can and start filling their orders.
Another way that I have done it is I do a google search for wholesale properties (my city & state) or cash flow house (my city & state). There I was able to pull up every single wholesaler that had a web site offering their properties. I find their contact info and give them a call and complement them on their website. I also tell them that I too am a wholesaler in the area and that I was wondering if they had any houses that they needed help selling. Reason is that I have a growing list of hungry buyers looking for great deals and I would welcome the opportunity to bring them and their deals together if that was something that would bring value to them.
Some will get it others won’t, don’t worry about it. Just do it. If they agree be sure to get your JV agreement signed before you go to the next step. If you need a copy of the one I use let me know. If you can lock one of these up you can them offer it to all the other buyers you find. This will put money in your pocket a lot quicker with out you having to go out and find a motivated seller and then try to sell it. There’s no marketing expense in doing it this way either. Once you have 1 under your jv agreement start calling all of the buyers on your list. Try to sell this house for them you should get ½ of the assignment fee which could be anywhere from 1,500.00 to 3,000.00.
Once you get a couple of these under your belt you’ll have made some money and you’ll feel a bit more confident and then you can move on to the next step. That’s finding motivated sellers that you can keep the whole amount of the assignment fee because now you have a good buyers list.
Hope this helps.
Gene.
"It's not what happens to you that determines how far you will go in life,
it is how you handle what happens to you.
Zig Zigler
Wow thanks so much for posting this Gene! There are several wholesalers in my area, so I assumed I shouldn't bother trying to start out with assignments since I'd have so much competition. But I bet the "if you cant beat em, join em" mentality would work just fine!
Monica
Skeptic, turned hopeful, turned determined!
You will NEVER succeed if you don't try.
This propery is located Frazier Park, CA. Could any body show me what to do here. I do not want to take over the payments and owner do not want to go below $93,000. I would like to a assign flip, but I don't see anyway to do it. Please need help with this one. Thank you
A house for sale or transfer. I owe $93,000 on it and am willing to transfer the loan to anyone, you take over at 5% fixed interest for the next 27 years. The house is a 2 bedroom, one bath, with a loft, separate laundry room and a large brick fire place.
Payments with Insurance $767.00 monthly/Without Principal interest $526.00
Built in late 60's 1969?
No payments behind!
Repairs: Minor paint, carpet, tile what have you.
No HOA's currently has tenants, but they will be leaving on the 1st!
Living space 1,300 sqft
Hello WrldFamus,
I like what Eugene A stated... That is good stuff... You have got to find buyers, whether it be in your area or folks interested in your area.
Ty
Yesterday is history, Tomorrow is a mystery, and Today is a gift...
Ethel Griffin
...So don't throw away a gift, do it today as tomorrow is not promised.
Tim may the lord be with you and bring great laborers across your path way, its not easy and I know when you mean finding the buyer, follow what Eugene A said it's great idea
God Bless
Ugene that's a great idea you shared with wrlfamus, I see he's pretty new as myself I so appreciate your kindness and will follow what you said. if it's okay with you can I get a copy too.
God Bless you and Thank You