earnest money. escrow?

Question

since you wanna give the least money you can for earnest money lets say $10 what do they do with that you just hand them ten dollars? It doesnt seem like you would open an escrow for $10. how does that work? thanks

Will Barnard · Answer

I understand that Tiara. I was only suggesting a more fcused and straight line apporach to get from point A to point B with A as the beginning and point B as a successful deal closing.

Doing zig zags along the way only delays the timeframe in which you can complete a deal.

Tiara Murray · Answer

My focus is wholesaling for now. In the other posts, I was simply inquiring about certain situations that I may incur as I move on flipping or landlording.

Will Barnard · Answer

I would agree with Curt on his advice. I have seen meany of your posts asking questions on a large variety of different topics and even some wihc advertised you were a wholesaler. I have a strong feeling you are "jumping the gun" and need to start with some education/training first, and pick one focus and go after it, rather than spreading yourself too thin over a multitude of options.

Chris Scott · Answer

Taira,

You are starting off at a great age. This is the best time for you to learn the ropes. Bird dogging may not pay money but the knowledge you will gain may change your life not to mention you are gaining experience. If you look at it you are gaining knowledge and experience but only if you sacrifice time.

Curt Davis · Answer

Tiara,

You should get a mentor or get in touch with someone who would give you some coaching. I understand you have no money and you are in college but lets face it, to become a real estate investor who wants to sell property is not something you just do. You need to make sure you take the necessary steps. There are many people here on BP who are seasoned investors and YES there is a ton of free info. Find someone who will take you under their wing and guide you in the right direction. My opinion of what you should do is different than others. That is my advice.

Tiara Murray · Answer

I am a little skeptical of bird-dogging being that I've heard a lot of bad stories from bird dogs not getting paid

Stephani Davis · Answer

Have you thought about bird dogging for another investor?

That won't require any cash on your part, and is a great, risk-free way to learn the ropes.

Steph

Tiara Murray · Answer

Thanks Stephani...

Harrison Painter · Answer

Tiara,

Stephani is 100% correct. If you do not have cash, then you will just need to get more offers out, talk to more people, and hustle, hustle, hustle!

No shame in that at all, and it will only help you in the long run!

The important thing is that you are taking action, and since I have read many of your post, I know that you are on the path to success!!!

Tiara Murray · Answer

Thanks for the encouragment Harrison. I am trying very hard to get started, I just dont want to jump in head first and fall on my face. My grandmother always say "better safe than sorry" So I am disecting every single approach to coming into REI