Beginning Investing Drivers Needed.

Beginning Investing:

Lets start with information about the most basic of topics…. The Driver.

Beginning Investing: Let’s talk about the driver.

The driver

The driver is your eyes and ears. They are the closest you will physically get to the purchase as possible without actually owning it. The driver will be the one sending you the pictures of the property. So yes I do suggest you take the time to properly train your driver.

All drivers should be doing more than just a visual inspection of the property. They should be trying to ascertain if the property is vacant or occupied. If the property is occupied the driver should be attempting to know by who (tenant, owner, squatter). Bank owned real estate often have unknown occupancy issues.

Occupants are problems. I have been fortunate to have driven many properties myself in which I can negotiate a cash for keys agreement on the spot. However I rarely give this authority to my driver. They simply are not trained in the big picture and therefore should stay away from negotiations. Instead let the drivers do what they are paid to do and determine occupancy and condition of the property.

Driving properties gives you the opportunity to have a jump on the competition. It allows you to better judge the riskiness of a purchase and at the same time help put a budget to the project. I always have the drivers send me pictures of the addresses condition. This allows me the best decision possible outside of being at the property myself.

The banks don’t care if you are just a beginner investor. They don’t care if this is your first or your hundredth. If you buy it then it’s yours. Make sure you take the time to drive the properties prior to purchase every single time.

I make sure that my drivers send me an address verification photo with each property. This ensures I am looking at the right house! It would be a shame to purchase a dive because my driver mixed up the home address and took a picture of the wrong house. It happened to me once so don’t think it can’t happen to you! Fortunately we were able to pull a sneaky one and get out of the sale. Mum’s the word on how I pulled that one off!

I think a perfect breeding ground for finding drivers is craigslist. I have had fantastic success with running ads on craigslist and finding TOP QUALITY drivers with the proper skill-sets. The key is to only hire trainable people. Guess what that means? It means you have to know how to not only do the job yourself but be able to train someone else to do It properly too.

Training a driver takes a lot of time. It’s not necessarily that you will be driving with them so much as you will be having a lot of phone conversation with them. It’s important you are working with someone who has excellent communication skills (thus the college as a place to find good help). The driver needs to not only be able to see the problems or issues but to communicate them clearly and effectively. If there is a miscommunication at this juncture there is the potential to turn gold into garbage.

Once a miscommunication happens you have to ignore preset budgets. Your risk just increased. This then equates to an increase in risk to an unknown proportion. Who knows how bad the roof is. Heck, if it can’t be explained then you have a huge problem. In fact it’s such a large problem it can cause you to not proceed with a purchase. Any communication breakdown must equate into a “stop order”. In other words during any transaction you feel there is a breakdown in communication you have a preset given green light to stop the transaction immediately.

Imagine a college student who has a motorcycle and an iPhone. The college guy/gal is a communications major and working for part time cash. You can pay by the house, by the hour, by deal. Pay structure is a different article for a different time. The point is however that you can get drivers and it’s not expensive. Heck you can even partner with a driver on a deal if you have to. The point is that you need them.
Drivers are a necessity and you have to train them right. Make sure you subscribe to my blog so you can keep up to date with the latest info.

*** TOTAL NOT DRIVER RELATED INFO*** SECRET STUFF HIDDEN INSIDE ***

The thing is that this isn’t that hard of a business. People for some reason associate difficulty with income. It’s just not always the case. It’s not that you won’t have to work hard. You will. In fact if your really considering becoming a real estate investor then get ready for some heavy lifting. Any course, person, website or blog that tells you otherwise is a pack of lies. This is your money. This is your profit. This is your business and thus the responsibility of research lies on your shoulders.

*** END OF SUPER SECRET INFO*** See what an upsetting event that was? Don’t ever purchase or even continue to read info and sites that claim to have “secret “ info. It’s just a honey-trap waiting for you to make a purchase. They are professionally written to find people who are trying to find info about bank owned real estate or beginning investing or real estate investing. It’s important to find quality info that you can base your decision making on. This is another benefit of using a 3rd party service. They don’t care about your deal and are only interested in delivering you information based on your criteria.

I am in the process of using a potential deal as bait with a company. In other words if they perform well on this one deal and we can come to a working arrangement I will flood them with more. If they don’t perform well or the problems are insurmountable then I will have only wasted a little bit of time with them. I know this has little to do with driving. Consider it a free “rant from me”.

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