All Forum Posts by: Eric H.

@Al Wright You can act as your own agent when buying and selling (saving $ on commission), you can pull accurate comps, you can make offers on mls properties and hud properties, you can view houses at your convenience, you increase your knowledge of real estate law and real estate in general, you gain access to mls

Hope this helps!

Sincerely,

E. Harris

@Jason Woodford Congrats!!!

Can you provide the rental numbers? (monthly rent and expenses) How did you finance the purchase? What area is it in?

@James Green I'm interested in this deal. Please pm with more details. I am willing to look at the property with you and provide you a fee for it.

@Leslie G Bradley What real estate strategy are you looking to implement? I would ask him about his experience with real estate, if he invests, and other 'stuff' regarding his investment strategy (price point, buy/hold or flip or wholesale, area he/she invests in, how long he/she been investing). I would ask how many clients does he service, how many closings does he do a month, what can I expect to pay for his services, and other questions surrounding my strategy.

@Nojan Radfar What methods of lead development are you currently using?

Greetings and welcome to BP!

Actually you need to hold a real estate salesperson's license for 3 years before you can become a broker. So the 1st step is getting your re salesperson license. You do not need a license to wholesale. As a licensee you are held to a higher standard thus wholesaling can become tricky if you are not careful and do not understand agency laws. You will have to find a 'wholesaling friendly' brokerage to affiliate with if you do become licensed. Some brokers do not understand it and others are just straight up afraid of the real estate commission to practice anything slightly creative.

Hope this helps!

Sincerely,

E. Harris

@Nic Jones Welcome to BP! I recommend identifying a REIA in your area and becoming a member asap. Since you are in DC, google BWI meetup. It's one of my favs.

See you at the top!

Sincerely,

E. Harris

@Kevin Raye All of what has been said here is good stuff. I recommend reading The One Thing by Gary Keller for a more in depth analysis about identifying what is that one thing you should be doing everyday that will lead to your success. Right now for me it's marketing. Everyday I try to market myself in one way or another.

I wish you the best! Continue taking action and things will begin to align for you. Check out this video one of my entrepreneur buddies posted on FB today

https://www.youtube.com/watch?v=h-KHWUq3B7I

See you at the top!

Sincerely,

E. Harris

@Daniel I. You need 'consideration' in the sense you are speaking of for the deed to transfer legally. It is a deed requirement. 'Consideration' in the context of the contract could be a mere promise to pay. It does not have to be actual $$$$. The language in my contract is as follows: "....the latter does hereby purchase from the former the following described property......The property is to be sold at and for the price of xxx" The EMD is a faithful gesture to seller that buyer will follow through on his/her promise. Hope we didn't confuse you @Luis Aviles. Disclosure: I am speaking for the state of Maryland. I am not a lawyer. Always seek competent legal advice.

@Steven McPherson Unfortunately I think the 'you need no money to invest in real estate' myth is just that: A MYTH. It's going to take some $$$$. Whether that is to pay for gas to drive to the REIA, or pay for internet service to learn from BPers, or put out bandit signs or qualify for a mortgage or purchase a tax lien or get your real estate license. There is no way around it. Unless you have somebody else that is going to pay for it for you (still someone is kicking out $) that is the only way I can see you getting in the game with no money. All of us have started from nothing though. Meaning we were all once newbies and didn't know what we didn't know. But it can be done. Start saving today. Pay yourself first. Even it's only $10/week. Pick up a second job. Take action!

Check out this blog post about jumpstarting your investment account....

http://www.biggerpockets.com/renewsblog/2015/10/30...

I wish you the best!

Sincerely,

E. Harris

I hope someone replies and proves me wrong!!! I would love to know how someone did it with no $ as well.