All Forum Posts by: Noe Garcia

thanks all, I appreciate it!

Hello all, 

I'm a new and future REI in San Antonio, Texas. Like most newbies, I have very little means to market other than driving for dollars and mailing hand typed letters (no budget for postcards). There are many of forum threads, blog posts, youtube videos on how you can do this with no money out of your pocket. I've researched some, like not having to provide proof of funds to an inexperienced seller, or transactional funding. I'm willing to work/fight/claw/scratch my way to my first deal - its not a matter of if, but when. Though, I have the willingness, persistence, confidence, and time, I just don't have the knowledge of how to get the deal closed.

I'd much rather learn the answers to most my contract and closing table questions first hand in the field. Like what contingencies do I need in the contracts, where do I get these contracts, what do I need to disclose to protect myself? What if there are other parties involved IE agents or, attorneys - how does that affect things? Among other questions. Then the process of assigning the contract to the end buyer. So that brings me to - when I know I have a deal, bringing in an established wholesaler as a partner, someone to bring a deal to and can bring it home for us so we can cash out.

I read alot about Bird dogging and I gathered two interpretations of the function of a bird dogger. 1) They simply find leads and are compensated either per lead, or if the deal closes. 2)They are partners in the deal splitting the profit 50-50. One partner has the deal, the other has the cash buyer chomping at the bits for this deal or other way around. The latter is the type of partnership I am seeking. I'm willing to negotiate my cut because I value the experience I'd gain much more than the money from my first deal. 

So before I find my first deal, and before I find a partner to wholesale a property with - the question(s) to this whole post is/are: Do established wholesalers go for a partnership like this if the profit is juicy enough? Also I heard on a podcast I believe it was 116 Doru episode that they are called "Joint Ventures" and my name needs to be on the purchase contract so the title company can cut me a check as well.

So all that said, I'm just looking for a couple of things to keep in mind so I don't get hustled or worse (legal trouble). Thanks all in advance!

@Marcus Maloney please put me down to be notified when this book comes out. I'm brand new to REI but am willing to work/fight/scratch/claw my way up from the bottom.

Welcome @Walther Arias - wishing you success!

that's just enough to buy a guru program :) I'm kidding, I'm in no position to be handing out advise cause I'm just getting started too. I'm just here for encouragement. I wish you success!

thanks for the gold mine of information Paul! I appreciate it. I have some reading to do!

this post is definitely an eye opener for me, I don't mean to hijack this thread but are yall saying as long as the third party buyer has proof of funds, the op can forward it to the sellers attorny and the deal is still a go? In the ops situation he should have just been upfront that the deal would be assigned? Or is he still on the hook with finding a way to provide proof he can close?

I like Jonathans suggestion, I was actually thinking about this same exact thing earlier today because I would definitely be happy to offer my Web Development and online marketing experience to a local investor who can take me on a day in the life.

thanks all the encouragement and for making me feel welcomed! At the moment I have been struggling with deciding what what the best strategy is to get started. I focused pretty hard on probate leads because I hear not so many people decide to market those folks, and after days of research I understand why. I have no doubt I can figure out the system, but at the same time I found a great deal of discouragement from members of this site recommending not to go that path as a beginner. If I may ask a brief question here since I wasn't expecting replies to my intro post. Would my best bet be to focus on vacant properties and driving for dollars? Seems like a logical way to generate leads. Another route I am contemplating is building up a good sized buyers list and bird dogging. Any guidance on this subject is greatly apreciated!

Hello all, hope everyone's doing good. After lurking around long enough scouring this site for answers I finally decided to officially join. So a little bit about me - I have zero experience in the real estate investing, my background is as a former freelance Web developer and all around ninetofiver. Like many newbies such as my self, I happened to come across a segment on TV talking about real estate investing. A few years ago I remember listening to a gentleman talk about not needing any money or credit to start by getting properties under contract and flipping them! Naturally, I was intrigued so I decided to research it. Not knowing what terms to look for or where to start (besides not attending the seminar he was advertising) I quickly became discouraged and gave up. Until recently I came across a video on YouTube about wholesaling real estate and there I finally got my answers. The term I searched for was "How to turn $100 into $1000" see I had just sold a bunch of old stuff on ebay and was eager to grow my money. Anyways, now I'm here, working on turning my eBay money into real estate money. 

Thank you guys for reading!