My road map to become an investor - need your suggestions/feedback

[Alex Rodriguez]

Hello,

I am 21 yrs old, I have been a Realtor for 2 months now. Being introduce to BP change my perspective and helped me get my goals in line. I want to start investing in real estate. My main problem is that I live in L.A County which is a very competitive market and I have less $100 to my name. I have gather ideas from members in this community that I think will be great to generate leads and it will just cost me time. Here's my plan:

1. Add all active listings to a database with DOM >100. Email all the listing agents with an offer to purchases the property for all cash at 70% of the listing price.

2. I already mail expire listing but I will teak my letter and postcard. I will offer to re list their property or buy it cash at 70% of the value.

3. Good old fashion door knocking and talking to people.

4. This will require some money, but maybe I can find an investor that wouldn't mind paying for it. Get a list of all out state owners and send me a letter or postcard offering to purchase their home at a discount.

What do you guys think of this plan? I want to get your feedback before I start seeking investors.

Do you guys think offering 70% of the listing price is too much? The original post that I read was offering them 57%, but I don't think that was L.A.

Also when I do come across a great deal, would it be fair to split it 50-50 with the investor. He would have to fund the entire project and I would find it ,sell it, and manage it.

Any suggestions or feedback is greatly appreciated.

Thank you

Alex Rodriguez