All Forum Posts by: Jason K.

How do I find absentee owners? Is there a website?

Thanks man...

Any other recommendations?

Thanks for your input, I completely agree.

I'm still looking for a reputable online direct marketing company that I can use, as well as a foreclosure/REO/investment property search site(s) like foreclosure.com, realtytrac...I was just hoping to get some sort of unbiased feedback of which sites to avoid and those that are a valuable tool to have.

As always, your opinions are much appreciated. Thanks again!

Hello all,

I've just started my biz and am overwhelmed by all of the marketing websites designed for RE Investors out there. I'm interested in possibly joining a few. Some seem legit, some repititive, etc....So before I make any commitments I thought I would get a few referrals of sites you may use on a daily basis that you can recommend.

I'm aware of all other marketing techniques I should implement and the craigs list's and other freebie classified sites, but am currently just seeking recommendations for a good direct marketing site, and a good site for locating motivated sellers.

I'm aware of foreclosure.com, listsource, realtytrac, and several others... are these legit? Can I find a better deal elsewhere? What's the best bang for my buck!! Any feedback is appreciated.

Thanks! :D

Steve,

Yes and no. I posted that a couple of months back when I first joined and was inquiring info regarding contract assignments. I wasn't sure how exactly to pull it off. Although the topic title is very similar, the basis of my questions are different.

I'm in complete understanding of how assigning works now, just am curious if people usually tie up the contracts before they pitch to their buyers or vice versa, and any other tips I should pick up on.

I probably could have expanded on the previous topic, but I thought that a brand new post would do the trick, and reach out to someone else who may be able to help.

Thanks

I will be assigning all of them.

I've got a good sense of what my buyers are looking for. That's what I'm saying...but what I'm curious to know is...

Is it better to get the contract with the seller ASAP knowing that I have an option to exit if my end buyer does not come through, or make sure I've got someone lined up before I make the agreement with the homeowner, regardless of your emotions or feelings towards the homeowner. I obviously want to make it a win-win-win.

Like I said, I want to make sure I'm protected if I go about these assignments with the intent of providing my potential end buyers info on these properties that could result in them taking my info and using it as their own to avoid paying me the fee. Granted, they'll know they won't be able to deal with me again, but it may be worth it at the time.

So-- get contract with homeowner first or risk pitching target property to buyer's list that could result in one of them locating your find and moving in on the buy themselves without paying your finder's/marketing fee?

Do most "bird dogs" collect their fee up front?

And also, which contract is most commonly used in this practice?

Thanks again for the insight.

What is the normal contract assigning process?

Please critique and/or correct my assigning technique before I get started.

In my opinion, before I get a contract with the homeowner, I'd at least like to know that I've got some interested buyers on hand, just out of good faith to the seller, regarless of my exit strategy. (Or do I need to get the contract with the seller as soon as I can?) If I had it my way, once I found a deal, I would want to provide all the numbers to my end buyers (without disclosing the location) to see if anyone would be interested before I got it under contract with the seller. Is this typical? If not, what is? Do I need to get it under contract as soon as I can and before I contact my buyer list?

I just want to make sure that I protect myself and not give away too much info to someone who can go find it on their own, buy it, and steal my work. But I also want to make sure that I am not using an unconventional method and am abiding by the norm...

It seems as if I may be looking out for the homeowner a bit too much, should I not be because I have an exit strategy disclosed to them already?

Bottom line -- should I get the contract at the agreed upon price as soon as I can with the seller OR run some numbers by my buyers to see if this is something they would potentially pursue before I write up a contract with the seller. And would I use the typical 1-4 Residential Resale that we use in Texas to write up this purchase agreement. If not, which form is normally used?

Please advise.....

:D

Steve,

Thanks for the heads up.

Is this a good idea? Typically, this is someone who may not have the capital themselves to purchase a property, but has an end buyer lined up ready to purchase the home from them.

I'm new to the investment game, and read about this "transactional funding" recently. Sounds interesting. Which company(ies) would you recommend to someone pursuing this as an option?

It doesn't seem like there is much to it (I'm already showing my inexperience I know :) ).....but if you have seller lined up, and you are front end buyer, with end buyer ready to buy from you, then these transactional funders are willing to fund you entirely, yes 100%, for a small fee. (So I've read)

I understand that if you have the cash to pull a deal off like this yourself, then this funding is not necessary.

But, for a beginner, it sounds like an excellent idea. It actually sounds too easy, so I know it can't be THAT easy, or else everyone would be doing it. Obviously, the matching of Harry Homeowner and Eddie End Buyer is the difficult part, but is that all there is to it?

Can anyone expand on my thoughts? Maybe I'm missing some crucial info here...

Thanks in advance. Jason

Thanks for the reminder Bill