All Forum Posts by: Gary Thomas

Western Union, and for documents-use DocuSign. There's even a free 14 day trial-and I'm not a spokesperson or affiliated with Docusign. And if Western Union and MoneyGram solutions aren't your style, have him fill out a document with his monthly payment info. Perhaps offer him $10 off monthly rent for authorizing monthly automatic withdrawals. 

@Troy Cole You're off to the right start! From my experience, the best place to find cash buyers is at your local Real Estate Investor Association. Here's information regarding yours

 You're likely to find investors who have a fully scaled property investment company, financial advisers looking to make connections for their clients who want leverage their retirement accounts, and real estate agents who have built an investor clientele database over their career.

When looking for sellers, try talking to FSBOs, people who have recently received a 'notice of default' letter, people near the end of their redemption period, and/or people who have just been divorced. Sellers who fit into these categories tend to be motivated to seller so they can move on with life. Paid monthly services like RedX or Landvoice will generate consolidated lists of said sellers or you can work out something with a local real estate agent who has access. 

Hope that helps-much success to you!

A real estate agent/investor relationship can be very lucrative. In some cases, seasoned REIs know more about real estate than most agents out there. So as a real estate agent who has limited experience with investing, your job will be conveying the value of the services you offer. Your ability to identify and analyze profitable deals, effectively market properties to retail buyers and your availability to submit multiple PAs/secure the deal is what will set set apart from the rest of the agents. Also, tell them about the team of respected affiliate you have that can increase the velocity of a transaction--no investor likes holding costs. And if you don't have that team--go build one! If you convey your services successfully-investors will start thinking about the time they'll save which will free them up to continue to grow their business. 

When you host your investor's seminar, speak their language--profitable deal and saving money. Familiarize yourself with different investment strategies so the investors are comfortable with a professional who knows they're stuff. I'd even suggest inviting one of your respected affiliates like a financial advisor or real estate attorney which will add more value to your event. And if you're looking for some type of sales pitch or hook, offer a reduced commission in exchange for the opportunity for being on both sides of the deal and more importantly- their loyalty. I know as an agent reduced commission goes against everything you've been taught but investors are savvy with money saving techniques so think in terms of volume.  A  6% commission to a flipper who can provide you with 3-6 listings a year is an opportunity to make and save a lot of money, and it keeps your name out there.   

Hello @Jacolby Pittman 

I'd say the very first step to getting started is--getting connected. You won't have much success without buyers and sellers.  From my experience, the best place to find cash buyers is at your local Real Estate Investor Association. You're likely to find investors who have a fully scaled property investment company, financial advisers looking to make connections for their clients who want leverage their retirement accounts, and real estate agents who have built an investor clientele database over their career. 

When looking for sellers, try talking to FSBOs, people who have recently received a 'notice of default' letter, people near the end of their redemption period, and/or people who have just been divorced. Sellers who fit into these categories tend to be motivated to seller so they can move on with life. Paid monthly services like RedX or Landvoice will generate consolidated lists of said sellers or you can work out something with a local real estate agent who has access. 

Once you've made some connections start your marketing campaign or start dialing for dollars. 

Hope this helps. Enjoy your prosperous investing career!

Welcome to Minneapolis @Jared Mckie! Your investment strategy is a very solid one. I too will take a very similar avenue once the lease on my town-home expires. I'd suggest that you know the properties in your area very well to avoid over rehabbing your future duplex. 

Property values are definitely returning to a higher purchase point, but the growth is slow and steady so deals are definitely still being made in Twin Cities-even off the MLS. I've had success with FSBOs and other motivated sellers like divorcees and people near the end of their redemption period. If you have any questions, don't hesitate to contact me.