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Hi,

I'm cultivating a list of buyers and I was wondering if anyone has any ideas as to what other ways I can make money with the leads that I've generated other than actually doing deals. What I mean to say is that I know I can refer leads to my mortgage broker and the ones that will be able to qualify for a mortgage are the ones for which I will make a marketing fee. These same leads can also be passed onto my RE agent and I can make a marketing fee on the ones that he/she is able to find a home for. Now, other than those few ways.....can you think of any other ideas for making money with your list of buyers (especially those who don't qualify for immediate financing) without doing a deal yourself?

C.

Hi there,

I'm just doing a little survey. I want to know what people(both experienced and beginner investors) see as the biggest obstacle or problem faced by people starting out as creative RE investors. It's for an entrepreneurship class I'm taking. You can write from your personal experience or give your opinion. Let's see how many people can chip in their 2 cents. Thanks.

Best regards,
Mike

I saw this post about a house in my local market that is selling for the price of the mortgage. I'm trying to get my first l/o or wholesale deal done. At the same time, I'd like to find a property that I can get into myself without any money down. Is this something that I should look into? Let me know what you think.

Mike

Here's the house:

http://www.cytadia.ca/885.html

hi Andrew,

I'd like to chat with you about your coaching. Please email me here:

[email protected]

Or you can call me at 623-295-5369. Thank you.

Best Regards,
Mike

juzamjedi,

Wow! Sounds like a nightmare. Are things going better nowadays? Overall, would you recommend that I go for a multi-unit or am I better off just paying for rent until I generate enough income from wholesaling and lease options and then go into the landlording strategy? Btw, how did you purchase the place that you live in? I'm low on startup capital, so there's no way I could do a down-payment. I'm also self-employed in my sales job so I'll have some difficulty with qualifications. Any suggestions on how I could use creative strategies to get into my own place? Just thought it was a waste to pay $800/month in rent and have nothing to show for it after 3 years. Let me know what you think. Thanks.

Best regards,
mede

Prohabber,

When I spoke of the $3k-$5k/month I was referring to the chunks of cash as option consideration by my potential tenants. I figured that maybe I'd be able to generate $3k-$5k/month by doing 1-2 lease options per month. At the same time my "passive" cashflow would be accumulating through the leases and quantity of properties in my portfolio. Is this a realistic plan? Keep in mind that I have under $1000 to invest at this point.

As far as wholesaling, I'm also intrigued. I live in Ottawa. How would I go about finding the deals to sign up(same method as for lease options?) and the end buyers/investors to whom I would flip these properties? I live in Ottawa and I know that the same "creative" deals can be worked here even though the logistics are a bit different. Let me know which strategy you think I would be best to focus on at this point(with the goal of $3k-$5k/month in mind). Thanks.

Best,
mede

P.S. What kind of monthly income could you generate wholesaling 3-4 properties per month? Just curious.

Yeah, I thought about that. Do you think it would be a bit overwhelming for me to have a multi-family as my first place? Also, I was just wondering if you think that lease/options are a good way to make an extra $3k-$5k/month on a regular basis. Starting from scratch, how long should it take to get to this level if I have say, 15hrs/wk to devote? Thanks again.

Best Regards,
mede

Prohabber, Thanks for the quick response. Should I continue to rent or should I find a house to live in myself?

mede

Hi there,

I'm brand spanking new to this forum. I"m just about to turn 30. I live in Ontario, Canada. I work in commissioned sales as well as market online. I really want to get things going in Real Estate and become a fulltime investor. My ulitimate goal is to have a 6-figure/yr cash-flow, but also have a portfolio of propertied which are held are for long-term wealth creation. I'm starting basically from scratch. Here's my situation.

I currently rent an apartment for $800/month. I've done so for the past 4 years or so(different locations around town). I have very little in savings. I have read a few different books on investing. Mostly, I've stuck with "creative" real estate resources since I've heard this is a good place for someone with little cash or credit. I'd like some input as to what my best strategy would be to inable me to generate short-term cashflow in order to go fulltime and also to build wealth. I've recently joined my local Real Estate club, but they meet just once a month and the next meeting will be in April. From what I've heard, there doesn't seem to be anyone who's been very successful with lease/options or subject tos. Sounds like there are many people into rehabbing. Anyway, let me know how you think I should approach this business. Thanks.

Best regards,
mede