| It doesn't take a genius to realize that no | | | | retailers, making a solid profit in the |
| real estate 'scheme' is foolproof, and as the | | | | process. This is known as 'assignment of |
| saying goes 'if it's too be good to be true, | | | | contract.' Usually, the only cash required is |
| it probably is'. However, that does not mean | | | | the serious money to secure the deal. A good |
| that you must have a spotless credit rating | | | | dealer can then turn over the contract for a |
| and loads of money to begin in real estate. | | | | quick $1,000 to $3,000 without ever taking |
| If you are financially embarrassed, but an | | | | possession of the deed. |
| aspiring investor, the heady but rewarding | | | | |
| business of real estate will welcome you | | | | Sourcing Real Estate Property. |
| right in. | | | | |
| | | | If you do not want to become either dealer or |
| Success with real estate requires an | | | | retailer, then being a 'private' agent might |
| investment. | | | | just be for you. A private agent sources real |
| | | | estate properties, but instead of |
| At the very least though, you'll need to make | | | | 'turning-over' actual properties or |
| a substantial investment in yourself and | | | | contracts, they 'turn-over' information to |
| needless to say, you must work hard. For | | | | the dealers and retailers. |
| starters, get your hands on the resource | | | | |
| sites. Here, you can gather not just | | | | Consequently, they face less risk than |
| contacts, but also ideas, real estate values | | | | dealers, and have almost no cash or credit |
| and trends, and other information towards a | | | | concerns. They simply gather information |
| strong real estate portfolio. | | | | about properties in trouble, and sell it to |
| | | | interested dealers and retailers. This |
| Remember that even with a million dollar real | | | | literally means they do the hard work for |
| estate portfolio; your brain will always be | | | | real estate investors, and investors are |
| your number one asset. Educate yourself on a | | | | willing to pay handsomely for every bit of |
| daily basis, and learn as much as possible | | | | crucial real estate information. |
| about your local market, real estate laws, | | | | |
| and investment strategies. It's all worth it | | | | Typically, private agents gather the |
| in the end. | | | | following data on a potential deal: the |
| | | | owner's name, contact details, asking price, |
| Becoming a Real Estate Dealer. | | | | information about mortgage, outstanding |
| | | | payments, and unpaid liens on the property. |
| There are two types of quick-sale real estate | | | | They will also have photographs of the house, |
| investors - retailers and dealers. Retailers | | | | and information on the owner's motivation to |
| buy properties, be they commercial real | | | | sell. |
| estate or homes for sale, and then sell them | | | | |
| for a quick profit. Their risk is very high, | | | | Perhaps the sellers might be in the process |
| and so is their potential reward. Contrary to | | | | of divorce, foreclosure, job transfer, or |
| many advisors, property retailers naturally | | | | have been trying to sell online, and have not |
| require substantial cash for a down payment, | | | | had the right purchaser approach them. |
| and at least, a reasonable credit rating. | | | | |
| | | | Investors are very generous for the 'right' |
| Dealers on the other hand buy and sell | | | | information and will pay upwards of $500 and |
| contracts, not properties. They find bargain | | | | $1,000 for well-sourced material. However, |
| properties and with online real estate | | | | what happens if an investor does not want to |
| listing sites, they can search online for | | | | pay? Easy, just do not offer any prime deals |
| investment properties and sign purchase | | | | to them. In the world of real estate, |
| contracts with their sellers. | | | | reliable information is priceless, and every |
| | | | good real estate retailer and dealer are more |
| Dealers then sell these purchase contracts to | | | | than willing to pay for it. |