OfflineI've been studying the material for a few years now but I'm so afraid of being exposed as a fake that I have had a hard time taking a first step. I did finally get in the phone book and on the internet and made a list of Real Estate Companies and plan to start calling to find an agent to work with me. Once I do that, I plan to move foreward and not stop until I make my first deal. I'm going to try the 30 day plan. There are just a few things I'm not clear about.
1. Say you have made a bunch of offers and someone accepts. Considering that I have 'no' money at all. What do I say next? Do I tell 'pretend' to be the one buying and just start making phone calls to get a buyer to grab it up or do I have them sign some papers? I don't think it's wise to let them know you are not the buyer.
2. The house I'm renting is in foreclosure. How can I find out who the mortgage company is that is holding the deed and is there any way I can buy the house when I have no money? There must be a way. I don't want to move and would love to be buying the house.
That's why I want to make a deal so quick. If I make a deal on another house I would have some money to talk to them with.
My financial situation is grim. The money I make from my job does not cover all my expenses and bills and I keep getting further behind. In one year I'll own my car and that's it. No money in the bank and no property and no credit. Don't have really bad credit just don't have good.
Any help would be appreciated. I'm tired of being poor and working my tail off to be poor.
Think like a man of action, act like a man of thought
First and foremost you want to build your buyers list
Have you connected w/ any buyers yet?
That would be before working with an agent.
1. first thing you do when your offer is accepted is market to you buyers!
Investors are tuned into "whats in it for me" so when I market to buyers I include exactly that, whats in it for them.
I provide images, my asking price, what the ARV is, what it can rent for , my math on the cap rate, rehab report, annual taxes.
2. the county recorders office is a route to find out who holds the mortgage lien against the property
Starting out can seem really scary and you don't want to make a mistake.
I was talking with a student today about this very same subject.
If I were to start all over again what would I do.
I would build a buyers list and start wholesaling properties. I would also find a small amount of private money that I could borrow to purchase deals on contract from the seller. This would help me accumulate properties and cashflow
Don't worry about the small stuff, just Keep Moving Forward!!!
Mikessler
I always say Keep Moving Forward! Never Give Up On Your Dreams!
As Matt Larsen says "Feed the Need" - Edge 2013
Follow my daily investing journal and read about the deals I've done and am working on at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/117493...
Finally my first deal is done. A quit claim. This is the way the buyer wanted it done and the seller just wanted out. So I put the two together and made money for 6 hours of work. 3 hours filling out the forms after finding what I needed------------
1 hour looking at the Property---------2 hours of just talking on the phone or in person. Not bad-------Diana V