All Forum Posts by: Account Closed

Would anybody here know anything about this situation and know wether or not this would work?

  Hi everyone, my name is Michael and I'm a 15 year old from New York. Over the past year or so I've been trying to get into real estate but there's always a problem with either the strategy or my age. I looked into BirdDogging in the past but there were two main problems that I came across:

1) The legalities of it 

2) Ensuring that I get compensated for my work

  So I've been thinking day and night on ways to get around these roadblocks and I think I came up with a good method and I will share it with you guys with hopes that you guys will be able to tell me wether or not this will work and if it's legal.

   According to the RESPA law people bird dogging can't get payed a commission or fee after a deal closes because you have to technically be a licensed  agent or realtor in order to get payed like that. So this would make getting payed as a bird dog once a deal is closed illegal. 

So I was thinking and searching around for ways to get around this as a bird dog and this is what I came up with (and this may be wrong that's why i'm asking you guys). So what I would pretty much do is get payed on a per lead basis regardless if they close on the deal or not. I would get skip traced leads and I would either call them myself or get a VA to do it for me. Then if we find a person who is interested in selling I would get some general info about the property and leave the negotiation, due diligence, etc all up to the investor, I would provide the investor with general information like bed/bath, repairs needed, condition, but not information like the address or phone number yet. So from there if there's an investor that is interested in learning some more about the property I will get an NDA to make sure that I get payed and everything goes smoothly. I saw online that even though i'm still under 18, I can still sign an NDA. So in the NDA we would agree that I would get payed X amount when I provide the information on the lead to the investor (Keep in mind that these are leads that would be willing to sell, not just any random lead). This method would keep me from breaking any laws and it would ensure that i get payed when I'm bird dogging.

  From what I know (which isn't much) this would work and be legal in New York and New Jersey, I will also make sure that I get payed with the NDA, and this will all still work given that I'm a minor. Let me know what your thoughts are on this method and wether or not this would actually work and if it doesn't what I can do to get around this considering the conditions I'm under. Thank you in advance for all of the help, I really appreciate it!

Hey nate, if you’d like pm me and let’s talk more! I’m in a similar situation but I’m 14.

Abdul Shishi all I said is that I’m working with an investor and if we can get a good deal he’ll close on it. I don’t think that would be illegal, I don’t see why. I’m just calling people for an investor.

Michael Plante I haven’t exactly made a deal at 50k yet. The guy said even for 50k he would need to think about it.

Matt K. I’ll try that out, but how long should I sit to do that until he cools down?

Gregory J. Brian Pulaski I’m doing cold calling for an investor that would be buying the house if a deal does happen. So I would be able to close then.

Hi everyone, I have been cold calling people recently and I found a really motivated seller. I asked him what he wanted to sell for and he said he hasn’t been following the market so he doesn’t know what to ask. So after some time, I eventually gave my offer (which was a lowball offer) and he didn’t seem too annoyed he just said he definitely can’t do that. So the next day I called to just check up on him and see if he came up with a number so he said 50k so I rebutted saying 40k he got really annoyed as I said I’m not sure about 50k and he hung up on me. This is my fault that it escalated to this because even 50k is really low and I don’t know why I didn’t say that would work for me. (Please keep in mind that this property is worth somewhere around 200k so I don’t know if this seller actually wanted 50k or he was just saying as 50k still being really low for him). Anyways, I have no idea what to do now, I don’t want to immediately call him back since he might still be annoyed at me, so how long should I wait to call him again. Also, what should I say to him this way when I call him he just won’t hang up on me? You help would be greatly appreciated as I’m in quite the sticky situation, thanks in advance for all of the help!

@Odie Ayaga I will message you and we can talk some more! I will see if I can make it to a meet up one day if I’m not busy!

@Odie Ayaga I plan on taking certain courses in school in my later years when I can like (ap calc, ap stat, business management, etc). Are there any other topics you think I should try and look into that my school may have? Also, I’ve been looking around for an internship lately to try and learn more about real estate from people who already have experience and be able to apply what I learn daily. Lastly, I will check out @Darren Sager ‘s meetup and see if I can go either coming up or when school ends. I will also just try and talk with him and see if we can talk with eachother. Also, if you’d like to talk some more with me please let me know or pm me, as I’d love to talk some more with you!