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Updated over 5 years ago on . Most recent reply

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8
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7
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Tristin Sellers
  • Rental Property Investor
  • Indianapolis, IN
7
Votes |
8
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Idea for making money, any tips?

Tristin Sellers
  • Rental Property Investor
  • Indianapolis, IN
Posted

So I am thinking of going door to door, cold calling and emails/physical mailing properties that look like they could be deals that are not on MLS. Then when I get a general number that they might sell for, give that information to a investor in my area, or out of my area with information like

*crime in the area

*condition of the property

*are there renters in there still?

*is there an eviction process currently

*price of the real estate + repairs

*cost of repair and monthly break downs

*ROI estimates

*Rent prices in area

*average income per family

*other info they want since I'm new to all of this and dont know alot about what is needed

I am new to the investment world and only make 8$ hr at my current job, that just simply won't work for investment so I need to get creative and find financing. For a service such as this what do you guys think is a price?

Is this a good idea if I dont really know what I'm doing? Is there a better way to make money while doing this or something like this?

Most Popular Reply

User Stats

59
Posts
40
Votes
Raven Henderson
  • Real Estate Agent
  • Memphis, TN
40
Votes |
59
Posts
Raven Henderson
  • Real Estate Agent
  • Memphis, TN
Replied

Hello, Good Morning @Tristin Sellers ! It sounds like you would like to become a wholesaler. What you described above is a list of duties that a wholesaler would perform for an assignment fee. All of the tactics you talk about are great ways to find motivated sellers and at a low cost. You may also want to try door hangers and mailing letters. You can also handwrite bandit signs and place them in neighborhoods that you are targeting. If you have any questions, I'd be happy to help! Good luck to you! 

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