OfflineHello Everyone!
First off I would like to say my boyfriend and I are very, VERY much excited about this program!! Neither one of us has ever owned a home, yet it has been a life long dream of ours to not only be home owners, but Landlords!
Like probably most of you, if not everyone here, we honestly did not think that dream could ever possibly become a reality. In addition never in our wildest dreams did we think we would watch an infomercial and get excited enough to actually research it, buy a book AND get involved!
Here is our 'story' if you will...
My boyfriend works a full time job where layoff is a constant wolf at the door. I have a small monthly income which pays all our utilities, groceries and a few extra items. His money usually pays our rent and even during lay off times although it is tight we always seem able to eek out a little extra cash to 'play' with. This amount would by no means ever be enough to save and use as a down payment for property. What I mean by that is; We have become quite good at finding things to do as a couple that cost very little to nothing. Even so we are always able to have a lovely time.
That ability along with many of our other talents is what assisted us in making the decision to utilize Deans program and start the life we have always wanted to live!
Keeping in mind that we have not as of yet read Deans book, we are waiting until pay day to order it, we already have a game plan in place...
Number one is we want to succeed but not at the cost of others. Number two, we also want to help people starting with our family's.
We both have a lot of knowledge when it comes to renovating, designing, and what not. We are both very innovative, inventive and very much creative! Often we surprise even our own selves! We believe this gives us an added edge. In addition what we may lack in skills or knowledge we have a wealth of people who we could call upon to help us. In fact part of our game plan is to ultimately provide not only decent and affordable housing but JOBS for family members.
With that in mind we already have our first renters a lovely young couple who is very eager to have their first place where mom and dad do not reside as well. All we have to do is get that first house! LOL!
I have done some checking and reading up on things in our area and what I am finding is we live smack in the middle of the perfect place to start up our flip and rent business!
Now for my question's...
We don't want to get taken for a ride and we don't want to be overly cautious either so we need to know how do you go about accepting an business offer and know everything is perfectly legit?
Finders Fee's: Does the person paying you the finders fee need your personal information such a SS# for their records or payment or anything at all?
What are the red flags we should be looking out for to let us know someone may have ulterior motives that probably would not be in our favor?
All that said we are glad to be here, thank you for taking the time to help us out and we look forward to hearing from you all!
You can't save the world but you can offer a hand up to a few along your way.
I have found a property. The people live in another state. I am trying to find the right letter to send to them to find out if they would be interested in selling before property goes into forclosure. Can somebody help me to find the right information?
Siana,
First you need the information, Second you need a strategy and Third you take action!It sounds like you are interested in Bird-Dogging,Just keep in mind that assigning pays better.If i were to Bird-Dog i would not use any contracts(What i would do)You do what feels right for you!When dealing with people,The goal is to find out who is window shopping and who is buying!
Thanks for sharing
Invest in yourself!
Rosefield, thank you for your response!
I had to look up the term Bird-Dogging in order to reply intelligently
That said, YES we are interested in being real estate bird-dog's but only to a point. The only reason would be to earn an income NOW. It is NOT something we want to do long term. Also we were contacted about doing just that already and before we made a move we wanted to know how do we CYA? Last thing we want is to be taken advantage of not even out the starting gate so to speak.
Our long term strategy would be to buy homes, pre-foreclosures or foreclosures will probably be our target homes. We would then flip them then rent them out with the renter having the option to buy the home after 5 years of renting. We want to help people become home owners themselves, make a profit but never ever taking advantage of them. Does that make sense?
I have no doubt we have A LOT to learn! I cannot wait for Dean's book!
You can't save the world but you can offer a hand up to a few along your way.
I was wondering, I have a disability and receive SS because of it. Could there be a way to use this in our favor in starting our rental biz? I know there are a lot of programs for people with disabilities and thought perhaps maybe there are some to help us get out the gates with this?
You can't save the world but you can offer a hand up to a few along your way.
Focus on what you can do and develope a TEAM for the rest.
I'm not a doctor, lawer, CPA, plumber, electrician, or Chef, but if I need em I can find them.
DEAN calls this developing your own "POWER TEAM" and referrals are the best.
no one can do it all!
Start with who you know...add new contacts you may need like Bankers or Real Estate Agents etc...
Bird Dogging is a great place to start because you don't need any money. and you get to learn as you earn...
Another student began with a phone, computer, fax, and met guy who partnered with her to do the "leg-work"...
If you discover a property you want, you keep it...