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| Quick Cash-Flipping Real Estate |
| So you want to be a real estate investor and make lots of cash.
But you lack the education and the experience, and no capitol.
Well here is a way to get into real estate investing fast, quick
and it's safe. Become a "bird dog". I know, your asking what is
a "bird dog"? That's a term used in the real estate field for
someone who goes out and locate potential investment properties
for a real estate investor. Many experience real estate
investors got their start this way. You go out and farm
neighborhoods looking for distressed property, with the
information that you have from the real estate investor as far
as what he's looking to invest in. You find the potential house,
gather the information that is needed such as: 1: Complete
address 2: Owner's name and location. Sometimes you may have to
visit your local court house for information about the owner.
Some |
counties put the tax-roll information on-line now, pull up
a search on the web about the county you live in and see if they
have the information. 3: Check to see if there are liens on the
property. 4: A check list on the condition of the property. You
can take a picture of the property to show the real estate
investor. 5: If you are able to locate the owner get his asking
price.
A distressed property can sometimes be a big burden to the
owner. It can be a financial stress or emotional stress. this is
the type of motivated seller your looking for. A potential lead
can sometimes bring you between 600 to 1500 dollars depending on
the price of the house. After a couple of deals under your belt,
it's time to move up to the big leagues and stop making someone
else rich, and become a real estate investor yourself. A
wholesaler/ flipper makes way more money |
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| then the "bird dog", he
also assumes the larger risk. The wholesaler/flipper finds the
distressed property and puts it under contract. He now has to
option that are available to him, he can close on the property
and rehab it himself, or he can assign the contract over to
another investor. The reason why the flipper takes the bigger
risk is because he has to put up earnest money to control the
property. That's money out of the wholesaler/ flipper pockets.
The flipper will usually takes the contract and assign it over
to another real estate investor. He will often leave the
distressed property in it's "as is" condition. Sometimes
depending on the condition of the property just a small clean up
can increase the flippers potential profit. A experience flipper
can sometimes make between $10,000 to $20,000 a month without
ever touching the property. That's if he is |
doing this full
time. As a beginning real estate investor your best bet is to
start out as a "bird dog", then move your way up to the big
cash. To start out as a "bird dog" make your self a list of
local real estate investors, call each one and make a file of
the types of deals that they are looking for. Over time you will
get a sense of what sells and don't sell in your area. So, there
you have it a safe and easy way to get into real estate
investing without losing a arm and a leg. Your next step to
success is to add the "do" to your financial dreams. "JUST DO
IT!" Happy Investing.
About the author:
Fred Egins is a real estate investor and a writer for
www.reinvestorbiz.com. Get free real estate investing
information and investment tips at www.reinvestorbiz.com.
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