All Forum Posts by: Christopher Gibbins

Are you looking for a contract that a bird dog would use to tie up a property with a home owner or a contract that would be used between a bird dog and an investor? If its with the homeowner then you are wholesaling and you would use a purchase and sale agreement with an assignment clause. If its with the investor then a JV partnership agreement works the best.

One thing that new wholesalers don't understand is that their job is not in Real Estate their job is in marketing. Learn how to structure a deal and how to negotiate but mostly learn marketing. Go to barns and noble and pickup books on marketing, online marketing, social media marketing, network marketing, SEO etc. Don't hide behind the phone either get out there and let you name be heard and let everyone know who you are and what you do. People who are not afraid to get out and talk to people who are really do well here.

Good Luck

Exactly there are many reasons to tell yourself "Right now is not a good time" but the real question is when is a good time? Tomorrow is not certain anything can change in the blink of an eye. Its the actions that we take today that can define how tomorrow turns out for good and for bad. Its your choice. 

Just get out there and make it happen.

There are a lot of different systems out there and I spent a lot of money to play around with them. Examples Freedomsoft, Realeflow, ReiPro, Nesters, REI Blackbook and the list goes on. What I found is those systems are great for the specific parts of real estate they are designed for but they aren't scaleable nor can you customize it to fit your workflows and how you want your business to operate. Oh and I think I missed the biggest part, they are expensive.

Now don't get me wrong these are all fine systems and they can truely help you but they aren't the magic bullet that they claim it to be and you wont be sipping from the magic fountain of fortune if you spend the money on it.

I started to use a free system call Podio (Now they do have a paid version as well with better workflows and reporting if you need it). But its a very customizable system that you can use for every part of your business and its portable so I can use it fully on my phone or iPad while I am out looking at properties.

The main thing here is this. Don't rely on or spend a lot of time on the system that you are using for your business because its not the system that makes the business its you that makes the business. Get out there and find and close deals. The system will form over time.

She really didn't sound that motivated. She is unrealistic with her price and doesn't sound like she has to sell it. But you said that you spoke with the owners daughter. This a lot of the times is a waste of time, talk to the owner. If the daughter is handling the sell then followup with her and set a time to go and see the house. Take your supporting documents with you for comps and then point out all the repairs needed and add some pain and explain why the $500 figure just doesn't work. Lastly ask her what she or her parents are going to do if it doesn't sell FSBO (Kinda play the Realtor card here for a second) If they say they will just list it then show her what it will cost her to list the house vs selling it to you.

Lastly if the house doesn't need a lot of repairs and could cash flow well then maybe look at doing a seller finance or lease option.

@Ryan Dossey I cannot agree more. There is true power in followup not just for the fact that you keep bugging your leads to see if they are still selling or not but it also shows the level of professionalism to your leads. I had one guy tell me once "When you first called me you were one in a sea of many investors and I just blew you all off, but you were the only one who dared to followup with me and I like that. When can you come by"

Remember a dead lead today could be a deal down the road.

There are many different contracts that you can use to lock up a property. But make sure they abide by your state laws. Check out the documents here on BP but stay away from the forms you get a seminars these can and will get you in trouble. Also its one thing to have a contract but knowing what all the statements and clauses in the contract mean and being able to explain it to the seller or end buyer is the biggest part.

I've used the state specific contracts down to the 1 page contracts they all work it just depends on how the deal in structured.

Do a quick Google Search "Illinois Real Estate Purchase Contract" this will give you a start.

There are a lot and I mean a lot of 1-on-1 couching programs out there but be cautious of them because most are very expensive guru driven and really just a lot of hype to sell their courses. Your best bet is to join a local REI group and network with the successful investors there and offer to help them out and they can turn into a mentor, for the most part a free mentor and then you will gain first hand experience and save those thousands you would have spent on the course as a down payment for your first rental or flip.

Good point @Andy Webb foundations are one of the main issues here so keep your eyes pealed and be very mindful of where you are investing because like Andy said this is a big area. Dallas and Fort Worth and right next to each other but I have never been to Dallas just because its so far away. There are many little cities in-between aswell.

Ok I see, I don't know all that much on real estate agencies and how their franchise work but I know that most of them are fairly easy to setup shop with. Sorry I couldn't be more help but I know there are alot of Realtor's on here that should be able to get your foot in someone door.

Good Luck