All Forum Posts by: Ryan Outon

Ryan Richard After doing more research on this "guru" I have found that there is alot of people doing what he preaches. They might not be making as much money per deal as he is saying, but there are some truths to what the ideot was talking about too haha he actually has some good ideas. I have been looking all over the web and even talking to people that have done this themselves. This is a very good way to get started into the real estate investment business. I don't think that it is something to continue doing after you have raised enough capital to invest your own money. I do think that for someone starting out this is the BEST way to learn the ropes though

Think of it this way: If you were an investor and you didn't have the time to go hagle with customers and still wanted to find good deals. Wouldn't it make sense to pay someone that is really good at negotiating, can get you a great price, and still leave meat on the bone for you? yeah he might be making 5-10k, but you didn't have to do a thing exept show up at closing with your money!

Tim Taylor is deffinately a "guru" and I have better informed myself because of what you have said. There are wholesalers that are doing this everyday and in every market though. I think if you do your research you will find this isn't such a bad strategy after all..

oh, and its not illegal by the way. I did my research on that as well.

Ok, ill check him out. J Scott isn't that the same thing as bird-dogging? and if so I think that is illegal in AZ =\

Ryan Richard Then what would you suggest doing? Is it not possible to make profits this way? even if its not 60K in equity maybe some people are willing to loose 10 to 20.Especially if they are looking at my option as opposed to foreclosure. I have ran into several people that I have been able to devalue their 300k plus RVs to make huge gross profits. You can't do that in the RE market?

If this method is completely bogus, what is a method that isn’t?

Ryan Richard Watch This:
http://www.youtube.com/watch?v=WPam1TK5a2c

Ryan Richard In my method I approach and contract the customer. The customer will have to except that you are going to make a profit on the home. You convince the customer that you have many connections that will allow you to sell the home quickly. If he or she agrees ,you have a contract and a pen ready to go.

You have to remember I am looking for customers that this is their last resort. They have tried to sell the home on their own and didn’t succeed. These customers will have a price that I will negotiate to (if need be), or they will already have a certain amount (say pay off on their loan) that they would be willing to sell the home for.

James Vermillion You have a point. I will look in to that.

@Ryan Richard I personally have not, because I haven't even started doing this yet. I have watched other investors that have though. The numbers I posted were just easy to understand numbers. I know that most won't be willing to loose that much equity. There are some that are willing to loose 50k+ though (Depending on the circumstances of course). You can do the same thing with foreclosed homes as well (profits won't be near as large). My target market is going to be people that NEED to sell their homes. Due to financial situations or situations such as my example. They are definitely out there.

@Ryan Richard Basically, Except there will be no fee. I will be getting a check from the buyer of the home and then giving the home owner 150k which is what she wanted to sell the home for. So in my method all profit is gross from the final bid price less the 150k that I will have to pay the owner.

@James V sorry, I have a way of making things confusing haha. Lets say I have A person (we can just say her name is Kelsey) and she needs to sell her property ASAP. Her and her husband are moving to another country. Her home appraises for 250 (retail), and she has a lean for 150. All she wants to do is sell her home for what she owes. So I market the home for her with a starting bid of 139. Then I have an auction on the home for investors as well as retail customers looking for a good deal.

@James V When I say "starting bid" I am talking about starting a bid lower than what the customer was wanting to sell their house for. This attracts investors to the property, and they bid the price of the home usually above wholesale value.