Just Gettting Started
I am new to this but have been reading a lot and gathering info where do you suggest I start in REI iwas thinking bout flips and contract assignment can anyone help?
I am new to this but have been reading a lot and gathering info where do you suggest I start in REI iwas thinking bout flips and contract assignment can anyone help?
Lots of people seem on this board seem to suggest birdogging and buying property "subject to" the current mortgage.
Birdogging gives you experience scouting without having to fork up money or go through the logistics of negotiating and closing.
Buying "Subject 2" keeps your costs down and the property off of your credit.
Jason
Hi Dealer-Il,
Bird-dogging is a great way to learn the ropes, especially if you plan to become an Investor. You find motivated seller leads for pro Investors, and they will pay you a referral fee if they are able to close. More importantly you can learn a great deal from the real life transactions you will be exposed to. When you provide good usable information that saves Investors time and money, then they won't mind taking time to help you learn the business. The key is providing useful, qualified leads. Good luck.
Dealer-Il,
Doing some bird-dogging can be great. One thing to be cautious of is investors or investment groups that don't pay up! I've talked to a number of folks who worked their butts off bird-dogging, only to be told that deals didn't close, therefor they weren't owed any money, when in reality the deals were closing. There can be some real jerks out there!
Bottom line, make sure you work with someone you can trust. It's all about the relationships!
[addsig]
One thing a bird dog can do is to check the court records on properties they have given to an investor. That way the bd can see if the house has been sold and to who.