All Forum Posts by: Sid Bengeloun

Hey There Joey!

Thanks for the Great Advice!

I have a question if anyone can answer. How exactly does the Bird Dogging Process go? Sure in essence you simply find the right deal for the right person. But how are you guaranteed your money if you tell the other person where the property is and for how much. If i tell them hey.. the house down the street is selling for 200K.. you want it good.. if not thats fine.. if he gets it how are you guaranteed your compensation for finding him that deal...?

My Motivations are pure and simple. Everyone has something they enjoy doing. Me personally I have two loves. That is Making Movies and Making Money. I've always been good at making money, even as a child when my family had garage sales I'd be the one selling everything and making the most money. But that is besides the point. I am looking as of right now to make a bit of money because I have none to start with. Then I was hoping to be able to save up and possibly invest into many commercial units that would be getting me some steady cash flow and then move onto getting pure and simple passive income.

The reason why I'm thinking about starting with Bird Dogging is simply because at that stage i could be making a little bit of money and then possibly oversee the process of a deal. I have personally never bought any properties and would like to know how it's done before i plunge myself in there and buy a house without knowing standard procedure.

I am looking to make the best out of my current situation as I can. I do understand that this is very time consuming, and I am willing to put my time into this, but i can't do so, if I do not know what it is I'm doing.

Hey there!

I'm kind of new to this whole concept of investing in real estate. And I am very ambitious as far as pursuing this. I would be an investor however, I have no money to invest. So i thought that maybe bird dogging would be the way to go? I'm not too sure. If someone is willing to semi coach me or help me out as i go along, that would be awesome and i would be eternally great full. I know people pay a whole lot of money for coaches and and things like that but why do we have an online community if we can't help one another out? =)... I personally would pay for coaching but i am not in the financial position to afford it. I am motivated so i have that going for me.. hahaha. I am currently located on long island and as many of you can imagine.. the market here for real estate is horrible

But anything at all you throw my way would be extremely helpful, even if you say dream on kid.. I'd use that in a way to power myself to go on and do greater things.. so yea... go for it guys.. And thanks in advanced for taking some time out to help a guy like me get up on my two legs :mrgreen:

Hey Guys!

Thanks for all your feedback. As far as the numbers are concerned. They were just for the sake of the example. There is no 150K property, and there is no me selling the property for 200K. hahaha.. I wish.. But i just used it for the sake of the example. You guys are great.! thanks!

I have been looking for smaller digit deals, but they are hard to come by. Its easier to come by higher priced properties....=/

Hey Dustin!
First off Thanks for the help! It's been really insightful. I am a little bit confused though. What do you mean by "have a title company that will play ball"? What is considering playing ball? the double closing. And what type of company would that be considered?

Also if i just assign the deal wouldn't it be not in my best interest telling the buyer that i am getting the property from the owner for 150 and selling it for 200??

Thanks again! :D

Hey ther guys!

I'm new to this forum and to the concept of doing business in Real Estate. I'm looking to make as much of this as possible. I've attended a few seminars and I feel as though this is something that can be interesting to do.

I am aware of a few ways to make money in this business. However I have also been told there is a way to make money by simply setting up a transaction. For example I've heard the following scenarios are possible...

Scenario 1:
Let's say i find a Nice property for about 150K and it has an estimate value of 200K. I can negotiate a deal and get the owner to sign a letter of intent saying that either i, or someone i assign the contrcat to can purchase the house at 150k. I take it to an investor or RE agency and sell th deal for an easy 5k-10k. So I walk away with a few thousand and the other person will buy the house at 150 and resell.

Scenario 2.
I find a property for 150K, and i find someone who is willing to pay 200k. I buy the house for 150 and sell it for 200k

Now. As far as Scenario #1. How would one go about doing that. What kind of paperwork would i need to say that i own the right to the deal, and how would i go about selling the deal? Who would i sell it too? Is it possible to sell it to a RE agency?

And for Scenario #2. Clealry this is possible. But how would i do this in a way that i would not have to place a penny. Is there a way to recieve the 200K first so that I can pay the 150 to the primary seller? Is there another way of doing it rather than having the money first. And in Scenario 2, i don't mean buy it for 150k, and then sell it for 200 in like a year from that point. i mean I would only buy the property for 150K, if I could find someone to buy it for 200K

Thanks guys in advanced. I really hope to become friends with this online community. You guys seem great, and i have no doubt at all that I'll learn a lot from you guys.