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