What to do when you're UNEMPLOYED and trying to get started...

have you tried advertising on Craigslist or posting sings to target investors to put the money down?

Remember that Dean teaches you how to use "other people's money".

I'm currently looking for investors as well...

a good place to meet investors are auctions, real estate clubs, this website, etc!

I'm still in search of an investor too!

I have made up a few sample ads for Craigslist but not posted any of them yet, since I am really struggling on who I should be targeting. The same goes for the signs/fliers idea...I know that Dean suggests putting feeler ads out there to build your buyers list, but it is difficult to grasp the concept of telling prospective investors that we have properties when we really do not. I am all about the concept of using OPM and may just go ahead and post some of these ads. I have posted one on www.Go4funding.com looking for investors, and have gotten a few hits from it over the last two months. We are also going to a local REI Club (INV Coaching - Las Vegas), where we have met and are networking with a few more investors. It's just gotten a little difficult to know where to turn to next, since most no-money-down deals are very difficult to find. We are almost to the point that we are going to start knocking on doors to find these potential 'golden opportunities'. Haven't gone to any auctions or to the court house steps either -- yet...but if nothing opens up for us soon, those are some possibilities. The fact of the matter is that neither my mother nor I want to join the herd of other workers out there doing the JOB thing again. We would much rather work for US not someone else. Anyhow, I guess we'll just keep on pushing -- there's no way that we are going to give up on this -- Financial Freedom is at our fingertips all we need is the right door to open for us and there will be no stopping. Best of luck with your investor search & happy investing. Jonathan

Have you tried getting a house under contract with a home owner and then assigning it to a buyer? You must find the motivated home owner that will sell the house cheap enough for you to make your fee and your buyer to make his profit. Motivated sellers could be in pre foreclosure, divorce, lost a job, need to move, Probate, tired landlord etc. Have you tried the marketing ideas the Dean teaches to find these people?
Then you need a buyer. Have you tried what Deans teaches about building your buyers list?
When you have the deal and the buyer, assign the deal and make your fee. It won't cost a penny of your own money, just time, study, networking, marketing and determination!

Good Luck!
Michael Mangham
MD Home Acquisitions LLC

Hi Jonathan, list as many buyers as you can. Go around and look for a property and make an offer 40%/50% below the Fair Market Value. Lock it up using assignment contract, stating in the contract that you have a $100 deposite to be given to your title company. Make sure you put in the contract that it is contingent to buyer obtaining financing, that way you will have an exit if you don't find a buyer. Blessings to all. LA

I'm so glad that I finally found a topic that hit the "sweetspot". Not saying that Unemployment has anything sweet about it, but I am so focussed on making this real eatate investing business happen that I Can't Fail.

Michael - bear with me...I have only been in this business 'full-time' for about 4 months now. Which for some people (including myself) may seem like a long-time. I'll also mention that I am in business with my mother and with two other investors here in the Las Vegas Area. We have been in contact with a few FSBOs, but have ultimately found out that they were NOT motivated and were trying to get more for their properties than they were FMV'd at. We also are slowly building our Buyers-List...but, hopefully (thankx to Erik) this will get real easy-real quick. Thankx for the comment, I am following what Dean's teaching me everyday up to our first deal & beyond!

Erik - you're on. Even though I've only been at this for @ 4 months now, I gotta say, I am a regular on this website. I think it Rocks !!! There are so many different things to learn, and so many places you can go to find the kinds of answers you're searching for. As for your comment, I hear you about the banks...it seems to me that times are quickly changing and the REOs that the banks once used to be happy to get rid of, are now being held on to, AND, GET THIS, the banks are actually putting renters/previous homeowners in them to create their own money. Which really Sucx for us Investors, am I right? As far as the journal thing...ready, set, go

Irababao - thank you for your comment also, I don't wanna leave anyone out here. First things first...I've gotta work on my Buyers-List, I know that we can lock-up a property under contract using an Assignment Clause, and even add in further exit strategies if the end-buyers don't surface. Another tidbit that I've found out is that here in Las Vegas banks won't even look at your offer if it doesn't have at least a $1000.00 earnest money deposit attached to it. I might be wrong here, 'cause I recall getting that info. from one of the banks listing agents -- which is yet another reason to start with FSBOs and other "Motivated Sellers" like Michael mentioned earlier.

Thank you all for your comments -- Let's keep it going !! I know that there is a lot of information out there that newbee investors are searching for.

Blessing bestowed to all that offer assistance to those of us who are searching for answers.

I have some swamp land in Florida. Its not mine however. The guy said I could sell it to you and say it was mine. I actually paid for this capability. I will charge you more than you could find it for yourself!

I am rather new and really am not the person to be giving advice at all especially beings I have not done my first deal either...

I have 2 ideas. First and foremost you need to locate the good deals around you and locate some buyers. I personally believe this is the hard part but for arguements sake lets say you found a killer deal on a REO and you have a buyer and you stand to make some good money if you can make this work...

Option 1- Make an offer on the home, take a deposit from your buyer which will cover the $1000 earnest money that is needed from your banks in NV. Open up a land trust for the home that you are interested in. Sell the land trust to your buyer. Buyer pays you what you are asking and you pay the bank what they are asking. (This I heard can be hard to do but you never know, just trying to give you options... and keep in mind that if I am at all wrong, someone please correct me)

Option 2- Locate a home that is a good deal. Make an offer with exit strategies in place and be able to show the home to possible buyers. Increase your asking price just enough to make 'something' (and I think this is where I have went wrong, I saw the $$$ signs and went to full FMV instead of leaving some meat on) on the home and then sell home (assign) to end buyer. Wash rinse repeat.

I know their are ways to make things work no matter where we are and sometimes to me all the creative ways just jumble up and mix with each other and I get lost... Even if I am not of any help here it has helped me write it down but I hope I have helped somehow.

Kevin