I listen to these podcast and they talk about all these leads like probate, foreclosures, auctions, etc. They all sound great but where do I get the list for each lead? I look on the internet but I feel like I'm looking at the wrong things. Is there some where I can go to pick up the list?
You shouldn't put too much weight into RE "gurus" on these podcasts or their "get rich quick" schemes ... it will land you broke, in jail, or both. Get a real education on the subject, and learn the right, legal, professional way to make an honest living adding real value to your transactions so you don't have to resort to extorting a profit by preying on those that are weak and desperate. The best way to start doing this IMO is getting your RE license and working as an agent, or buying a small fixer house locally for yourself and rolling up your sleeves to fix and eventually rent, or better yet both. There are true professionals out here on BP, and there are also weasel guru snake oil salesmen, and it honestly sounds to me like you are not yet able to sort out the two.
I learned a long time ago not to take in EVERYTHING without doing your own homework on the matter, investments is not easy and its not hard but you have to do your own research to understand how it works and as far as where to go, i think your in 1 of the best places to find what you need. 1st where is it where you want to start?
David Faulkner I think you are right. the gurus are very suspicious way of going. That's why I decided to go to the forums. Thanks for the input. Do you have a source to where I can get a break down of real estate as a whole. Such as mechanics of a deal. I seem to buy books that take you in circles but really doesn't teach you nothing. I think a strong foundation is key but when there's so many different views its hard to build. If you can you point me in the right direction.
Thanks prince for the reply. I do try to do my homework but I feel what I'm looking for is not accurate and other then it not being accurate it doesn't give you the answers that I'm looking for. I been on this site for a couple of days and I think I have learned a lot more but I still have a lot to learn. What I would like to do is flip for now and then go in to rental properties. I would like to start in the city of new York.
The info you are asking for are absolutely legitimate strategies. I am not sure why he thinks buying foreclosures or at auctions are "snake oil salesman" techniques.
There are companies that sell lists of people in pre-foreclosure and probate lists. (I don't use them so I don't know of any specifically for your are area) but you can look them up yourself. Check legal notices in the papers and Google Probate court or orphans court etc for your state.
To find auctions just google auction companies for your area. Baltimore hss probably 5 or 6 real estate auction companies. There are surely some in your area. I am sure they will all be happy to put you on their email or mailing list.
@Stephen Javier wrote
Do you have a source to where I can get a break down of real estate as a whole.
Right here on BP is a great place to learn. The are blogs, podcasts, free investing guides (check the free Ultimate Beginners Guide) and more under the education tab above.
There is a lot to know in real estate and it will become more clear over time.
@Ned Carey thanks! Big help
There is a right and a wrong way (both legally and ethically speaking) to do anything under the sun, and this holds especially true for Real Estate Investing. There have been many on recent podcasts that he is likely referring to that I would consider snake oil salesmen and it is unfortunate that BP supports such gurus, but it takes education to spot them. I am offering advice to get that education, the best ways to obtain it, and to be very wary in the meantime.
@Stephen Javier you've come this far by asking questions. Keep going. If you fall, you have to get back up. Don't quit.
@Stephen Javier Maybe it would help to post in the "starting out" forum, rather than the "success stories" forum.
Actually, I think you're just expressing your frustration in your ability to get going and put something together or at least disappointed with your progress.
My experience has always been that when I'm stuck on a step it's because I haven't completed the prior step (sufficiently).
Many people who have posted about their successes fail to tell others how difficult it was to 'land the fish' and focus on how tasty the meal was. That's misleading.
My suggestion is that you study real estate as if you were going to get your real estate agent's license so you understand the fundamentals (if you haven't done this already). Watch what others do to insert themselves into problem situations such as an owner with equity in foreclosure.
Think of the foreclosure as an action stimulant that triggers the owner to take some sort of action to remedy the situation. Will you be there to help salvage some of their equity?
These distressed sellers are quite often problem people with issues that compound their own problems. You, as either lead generator or investor, have the dubious pleasure of patiently helping them get their possessions moved, etc. there are an incredible number if details that must be tended to. I'm in awe of people like @Derek Walkington who put up with sellers' inability to get out of their own way.
In short, there are lots of little steps in dealing with people, even after you understand what makes a deal. How many people in foreclosure have you talked to directly during this week alone?
@Stephen Javier , @Ned Carey is right on the money! Probate, foreclosures, auctions, etc are all great strategies and any successful investor will tell you the same. To ignore these strategies as the magic tricks of "weasel guru snake oil salesmen" is to handicap and limit your success before you even get started.
Bigger Pockets "Ultimate Beginner's Guide to Real Estate investing" is one of the best ways to gain a foundation of education in this industry.
make the commitment to read/studylisten of the niche you'd like to focus on.BP is a great place to get going, with ideas to put into practice.
There are diverse views and that is normal for a forum
Hey guys I'm sorry I'm new to the forums. I didn't realize I put it under success stories. I haven't spoken to anyone about the foreclosures yet. I set something up for tomorrow to sit with someone that has some experience in foreclosures. @Rick H I think you are right about the not getting the last step. thank you for bring that up. cause now I'm taking a step back to get a better understanding of everything. @Joseph England @Ned Carey I'm started the introduction to real estate modules on BP. and after going to read the guide after. Thank you everyone for your input and it helps so much. I will see ya in the success stories forum soon with my story...
Our foreclosure sales are listed online
Then you can go to the clerk of the site and research research research...
No gurus...but a buyer does have to cash the day of the sale....I always suggest folks go to a bunch of sales to understand how it all works...
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you