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Updated about 10 years ago on . Most recent reply

User Stats

78
Posts
22
Votes
Sonny Ngo
  • Involved In Real Estate
  • Houston, TX
22
Votes |
78
Posts

I'd be happy to share my real estate experience with new investors.

Sonny Ngo
  • Involved In Real Estate
  • Houston, TX
Posted

Any questions from new investors?  I'd love to answer all your questions.

Most Popular Reply

User Stats

78
Posts
22
Votes
Sonny Ngo
  • Involved In Real Estate
  • Houston, TX
22
Votes |
78
Posts
Sonny Ngo
  • Involved In Real Estate
  • Houston, TX
Replied

@Dazelle Russell,

Once you find the motivated seller, you will offer your option money to secure the property.  The option money can be anywhere from 10-1,000 dollars.  Then you turn around and find a motivated buyer to buy the property.  Once you find the motivated buyer, you will ask for a down payment (1,000-3,000 dollars) to secure the property from the buyer so no other investors can buy it besides him/her. After you've found your motivated seller and buyer, you open title with your local title company to get the property closed and funded.  I guess the final question is how you will get paid?  You get paid by the title company once the property is closed and it takes anywhere between 2 to 3 weeks.  Hope I answer your questions.

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