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Is Birddogging My Only REAL Option?

OregonNewbie profile photo
  • Wednesday, May 12, 2004 @ 08:38 PM EDT
  • 5 Comments

Hello everyone,

I've been reasearching the many creative methods to make money in real estate, but I just don't have the captial, credit, or equity to jump into a lot of them... is birddogging really my only/best option for getting into REI?

My credit score is around 630, I make good money at my present career (IT), but my debt to income isn't very good because of a sky high auto payment, a couple of maxed out credit cards, and "young credit"...

I'm sure some of you folks started in the same situation, so I'd love to hear how you manuevered around this little bump in the road.... I refuse to let my current situation (caused, in part, by a divorce) keep me from becoming a successful investor! :evil:

THANKS!

-Dan

Comments(5)

  • no photo
    LoneGunman12th May, 2004

    Have you read up on sub to's?

  • JohnLocke
    JohnLocke12th May, 2004

    OregonNewbie,

    Glad to meet you.

    Forget the credit score, the maxed out credit cards, the big car payment and young credit.

    Just like in Star Wars, use the "Force" and in this case it is the "Creative" side of real estate investing, where none of the above applies to making deals happen for you.

    John $Cash$ Locke

  • no photo
    OregonNewbie12th May, 2004

    Hi John, nice to meet you as well!

    Any suggestions on the creative method most suitable for a soon-to-be REI in my current financial situation?[ Edited by OregonNewbie on Date 05/12/2004 ]

  • no photo
    crazyfnmama12th May, 2004

    Hi, Dan! I, too, am new to this world, so what I'm about to say may well BE just as dumb as it sounds but...
    I'm trying my hand at wholesaling right now. I'm in a similar boat -- no money, no credit! I'll let you know how it works out. I did buy John Locke's Birddogging book -- a good (and recommended) read. Although I am working this angle, too, I'm eager to do the deals myself, you know? Then, of course, there's SubTo... your (our) options are virtually limitless and I've found TCI to be an invaluable resource! tongue laugh

  • Stockpro99
    Stockpro9912th May, 2004

    Fellow Oregonian,

    The sky is the limit! IF you can build you could get hard money on a rehab. Take a property Subject To, wholesale and flip properties to other investors( requiring only an option on the property which you would assign) and bird dogging.

    I however would suggest attending some RE meetings in your area and networking. Find a mentor or two, see what you can do to improve your cash flow (that is always a good ideasmile by selling, downsizing, etc.

    Education is a must.....

    Randall
    [addsig]

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