All Forum Posts by: Account Closed

I don't know about it, but it sounds like a catchy title with which he would like to separate you from your money. Just guessing that it is a software program run by a mentor that somehow organizes you to keep track of your deals and the status of them through closing? Keep us informed on this, good luck, Mike

Michael,
Welcome back! You could start looking at the smaller towns near your area, or within a few hours drive. You can check out the general rental market by looking on Craigslist and in the newspaper ads. Get into a car with a Realtor and talk about the market. When you find a neighborhood that fits your workable parameters, then start marketing, maybe buy a list of absentee owners as an example and send a mailer. Good luck! Mike

You could ask the Realtor you mentioned, to run you a "sold search" for the area, and maybe even other areas where similar new home subdivisions have been selling. Good luck, Mike

Here is a link to the LLC and corporation info on BiggerPockets:

http://www.biggerpockets.com/legal-services.html

It can all be done online or through your attorney. Good luck! Mike

Bwetween now and the meeting:

Read voraciously the posts on BiggerPockets forums, especially Creative Financing, Starting Out, and General Real Estate Investing. If you start leaning toward a particular method or strategy, do a search for it on this site as well, and read everything about it. The idea is to knwo something about everything in general and alot about certain strategies.

If you haven't already, get to know a particular market area, such as a neighborhood that has "bread and butter" houses that would be good starter homes, low-crime. That can be your farm area. Go to open houses in this area, and meet some agents, saying you are a real estate investor and you like that area.

Get som cheap business cards. They are free with just the cost of shipping at www.vistaprint.com, and some other sites. You will want to exchange cards with alot of people.

Go to the meeting early. There will be some vendors if it is a big club, so you can always start talking with them and then venture over to the other investors, introduce yourself and exchange cards. You don't have to advertise how new you are, just be an interested investor. The investors are usually a friendly bunch, and alot of them will be new also. Just be yourself. Ask them about what they do, what deals they are working on, etc. people like to talk about themselves. Some clubs have a "haves and wants" session, where people get to pitch their listings or deals. They will usually give out their names and contact info. Write it down, and then call them back later and pick their brain or establish a relationship.You will probably find an agent at this meeting who will work with you on some basis. Good luck!

Matty, Well, you are in the right place to start. We have members of BiggerPockets from all over the world. It would all depend on the cities or areas you were investing in. Post in several appropriate forums your request for those team members, and ask for suggestions of specific recommendations. Also, of course, if you have a particular city, go to the local REI club (that's what I did and found a great attorney and title company) and ask around for various potential vendors and team members. The only one that is hard sometimes, is to get a referral for a good handyman. Sometimes the other investors prefer to not share those guys :lol: Good luck, Mike

Until you get more of a handle on your unit pricing, you could just establish an hourly wage that covers your time, profit and overhead. Charge time and materials. Of course, alot of people wnat bids. You will have to get a unit cost list going for all types of material, and then you can just plug in your estimated time to complete the job. Good luck, Mike

Lang,
I understand your dilemma. I too would like to have more access to the MLS, and I have not found the perfect agent yet, but then I have only been doing unconventional deals, so, like the other guy said, why would they help? I am reluctant to ask anyone to work for nothing. :lol:

If you really want to work with an agent, I would suggest joining your local real restate investors club. In the meetings in my area, there are tons of agents who are wanting to network with investors. These are the more investor savvy agents. You can talk to them and see if anyone would meet with you sometime for coffee and discuss the market. You don't have to necessarily say you are "only" a wholesaler. If they are investor savvy they will have put together a model where they can work with investors and make money, like working short sales, etc. You may be able to use them for when you buy one yourself and sell it retail. Some agents will "invest" some auto emails and reports for you and see if a win-win relationship develops. See what happens, good luck, Mike

Lang,
I attached an exerpt of a contract I have which you are welcome to use. I do not guarantee it though, so you should probably get it blessed by an attorney. Good luck, Mike

Of course, you really don't need any licenses or the entity paperwork until you are ready to buy. Alot of guys start education, assemble their forms and paperwork, then start prospecting, and then do all the business paperwork when they are ready to go. You can do it your way too, but just be careful that you don't get bogged down with the "getting ready to get ready" syndrome. :lol:
Good luck, Mike