Renovate America Program. Nation Wide Real Estate Discounters Corp.
Right after I finished RE lic. school 2 weeks ago, I gota letter in the mail from them. The letter says that they help any one interested in REI earn big profits by locating distressed property. The target props are 1 or 2 family res properties that require rehab. They claim that investors will buy the distressed property and split profit with you after you have located it.
Are any of you familiar with these guys or in business with them. How are they? What are the pros and cons. Also are licensed sales persons allowed to participate in programs like these. Thanks
8-)
This is rather typical of several such companies who are merely putting bird dogs into the field. The questions you ask are who does the negotition? If this is part of your job, you really do not need them and I would think you could do a lot better merely gathering a few investors to back your action. In this way you will participate in the future profits with a larger share and what is most important you will be controling the deal.
Many long years ago when I first started I merely gathered a few elderly lenders looking for a profit. I then ran on the problem properties which I located through court house search and postings. Of course now days there are services such as Retran which supply the Notice of Defaults.
As a licensed sales person you must of course disclose this fact and you must always write out with great clarity all of your contractual agreements. This is important as we licensed persons are held to a higher standard of care.
While on line let me say I have moved and am in the processee of obtaining a new house.
My Last Article re: A New Wave in Real Estate Buy,Build, Learn, was not written as an advertisement of my activities but written in the hope by disclosing this procedure to create low cost housing that others viewing the article would be inspired to emulate our activities in their own areas of residence. I sometimes feel that within our capitalistic society it is necessary to make corrections from outside the governmental structures. They do seem to in many instances fail to address our little social problems. Such as housing.
My article was meant only to stimulate you all to a positive goodly social correction.
Please excuse my writing as I am working on a portable IBM laptop that is almost as old as I am and considerably www.slower.I think it appeared in in some old time scientific fiction picture under the name of HAL.
Cheers, Lucius 8-) 8-) [ Edited by Lufos on Date 05/20/2004 ]
Hi Lucius,
Nice to see you back on line. I've missed your wit and wisdom.
thanks Luf. Hey can any of you guys tell me whats so special about the Chicago mkt. I live in so ILL but my broker/teacher speaks very highly of Chicago as if it were Real Estates holy city. I dunno hes just always bragging and talking about Chicago. Whats the deal with Chicago? Whats so special about it? Whats the history