Results 1 to 3 of 3
LinkBack URL
About LinkBacks-
10-16-2008, 06:41 PM #1
Fixer Upper
- Join Date
- Sep 2008
- Posts
- 22
Bird Dogging!!!
Board I would like your advice!!! I have found a motivated investor who has the money to buy and hold foreclosures He wants me to find them, he buys them, and I get a nice check cut.
My question is what different ways can I go about this? Keep in mind I have the tools to look for foreclosures but a lot of them are already being handled by REO agents.
Ok despite what you may think from my last post, "NO" I dont hate the agents but I bird dogged one time before and was cut out of the deal. (was younger and naive)
Here are my questions. Do I work up a contract w/ my investor where I cant be cut out of the deal? I have found many houses and I feel the REO agent is the best way to go b/c it will free up my time to find more homes for this guy.
How do I approach the REO agent?
Tell the REO agent I am looking for the home and bring the investor to close? I feel that I risk losing credibilty
Be up front w/ the agent and hopefully work out a good realationship with them? My fear is being cut out of the deal and/or my investor working w/ strictly that agent
My only fear of the investor breaking the contract is that I will spend more money trying to get it back in court. The guy is a good hearted individual but you guys know how business can get.
Any helpful suggestions would be great!!!
Keep it Kreative (KiK)
-
10-24-2008, 03:06 PM #2
Fixer Upper
- Join Date
- Oct 2008
- Posts
- 41
Bird Dog for myself only
I'd only bird dog for myself, but I wish you the best
Hi I Developed a secret marketing system For TopRanking any website or Press Releases on googles top 10 spots in any category 98% of the time.This is huge news in Marketing and Internet Rankings for Real Estate. Also we rent commercial Office space.....thanks J.P.
Fresno Office Rentals -
Gas Stations For Sale Online
-
10-31-2008, 09:55 PM #3
Fixer Upper
- Join Date
- Oct 2008
- Location
- Midwest
- Posts
- 17
REO listings
Have you thought of getting your real estate license? That would make it a lot easier on you.
Be sure to get your investor, and any agent you work with, to sign a non-circumvent. If they do go around you, sue for damages.
You could try to get properties under contract yourself, then add the investor. They close with cash, then you quit claim yourself off the deed at the same closing as soon as you get paid. Problem here is, if they are a no show, you still have your name on the contract. You'll want to have a backup plan so you can still close on it.
Be sure to check your state laws. You don't want to do anything illegal, and the fee you earn could be considered a real estate commission if you structure your deal wrong. You have to be licensed to accept a commission.
See if the investor would partner with you. Form a holding company and you take 10% ownership (I would push for more if you think you could pull it off, most of my partnership deals were 50/50 or better when I first started) plus some sort of payment to you for each property you bring to the company. That is how I got some of my first properties, and learned a lot.
I hope that helps.Justin Razmus
justinrazmus.com - Investing, blog, real estate, more...
razmusteam.com - Invest in real estate in less time than you think...
InvestmentTrainingSchool.com - Learn the ropes of real estate investing...
Reply With Quote
Bookmarks