Questions?

Question

Let me start off by saying You guys are a wealth of knowledge and I appreciate all you have to offer.

I want to preface this by saying I am 21 yrs old I have worked a ton of jobs in my life and I want to be my own boss.  I looked into real estate and this is where I am at. I was told that wholesale is a great way to make capital or a living if you want to start out in real estate Is this true?

Also if it is for a COMPLETE NEwbie like me here are a couple of questions

One How do you find these Homes?

Where do you market to for buyers?

Can someone like Ryan webber send me a copy of their one page agreement?

How do you transfer the agreement to the buyer? Is it as easy as putting their name next to yours or what?

Who hand you your cash and how?

When putting out bandit signs and ads what does 3/2 mean and can someone explain this arv and other acrynms to me. Esp when finding out this formula to see if a home is right to wholesale?

Thanks guys I know you hate newbs but i read and read and read and i still am not finding any answers.

chris

Dick Green · Answer

I wanted to be the first to extend a little help.  Here's a free E-book for you at the end of this comment.
 
To answer a couple of your questions:  1.  Your city is full of homes.  I'm sure there's no shortage finding them.  I was thinking recently about some of my easiest past customers who wanted to sell.  What were some of their motivations....

Houston has a high crime rate and some of the my easy customers were individuals who had experienced recent breakins or bad experiences in their current neighborhoods.

I used to sell furniture for a guy here in Houston who's fairly rich.  He used to tell us, "Don't negoitiate price when the customer pulls into the lot driving a U-Haul",.....Just a thought....anyway.....Lawyers make tons of money chasing ambulances.  Most of that information is public record.  Much of it available on the internet.  I looked online here in Houston and Waalaaa!

Or, you can run an add in the rags and low cost paper stating that you buy houses, any shape, quick closings.

Market for buyers in the same place that you market for sellers. 
ARV= after repair value.

gotta go, chat with you L8R

enjoy your free e-book.  I only scanned thru it and have not read the whole thing.  Looks like it may be useful to the both of us though.

http://www.houstonhotdeals.com/Freebies/FreeBook.pdf