All Forum Posts by: Mark Elegeert

Just a general rule for the future if this is the case: Hard to work with in the beginning, hard to work with all the way through. Move on if you have to.

@Aaron Foster Yes!

Step 1: Go to local Real Estate Investment Association meetings and meet investors. Be social and create solid connections.

Step 2: Find out who is looking for properties and who is willing to pay a bird dog fee. Some investors will pay you anywhere from $500 - $1000 for a lead that they actually purchase.

Step 3: Give the lead to an active investor that is willing to pay a fee. You WILL NOT be able to collect the fee until after the investor makes a profit.

Step 4: Continue to go to REIA meetings and stay in contact with your investor contacts.

Step 5: Collect

All of this is assuming that you don't have the property under contract.

It is best to work with people that you have met more than once and you can even learn from. I don't suggest bird dogging on craigslist.

@Mubasher Riaz A short sale is a good way to get a discount on a property. Short sales generally take longer to actually close on than other purchase methods, sometimes months. You need to then need to either work with the lender yourself or through a realtor that knows how to work short sales. Have the lender send you and/or the owner the paperwork required to do a short sale.

Flipping it to an end buyer is possible and you would have to follow all the same advice as normal flipping. There is a lot of information about flipping in the biggerpockets forum.

@Tim C. More information is needed for advice. First off, do something. Waiting on the bank won't get you anywhere.

Did the owners pass the info to the bank themselves or did they use and realtor?

It sounds like you need to communicate with the sellers. Someone also needs to be contacting the bank and getting back to you for a weekly update at least.

If you go to your local real estate investment association meetings you will most likely meet private money lenders. They all have their own requirements. A lot of them are deal based. Sometimes they will want to split profits, other times they will charge you monthly interest. Ask if you can do back end financing in which they get paid back on completion of the deal.

Call the bank and ask them to postpone the sheriff's sale. Sometimes the bank won't actually postpone until a few days before the sale date. Call them once a day and ask them. The bank may already have plans to postpone the sale.

Thanks everyone!

So, I should just go to a local agent and ask them about comps. Will they charge me anything? How would I want to make the approach?

So, a credit union is selling a home for $49,900 claiming that it's fair value is $69,900. How can I verify that this is a good deal? What questions should I be asking the contact at the credit union?

Hi everyone,

First, I would like to say that I am happy to have found this forum. Second, I am really excited to learn. I am 27 and finally done with the military. Now, it is time to finish school and make a living. Well, not just a living. I want to be able to have enough freedom that I can make other people's lives better too!

I live in De Pere, WI just outside of Green Bay. Very interested in chatting with local people.