Is This For Real?
I am very very new to all of this however, a buddy of mine isn't and he has been making some small but steady money from referral fees. Basically, he is adviseing to find people in preforclosure, tlak to them and get them to sign some kind of agreement (not sure the name), then take that to an investor who will "take it off your hands" and pay a refferal fee. Is this something that is normally done? What is the name of the contract mentioned above and what would I say tothe person I am trying to get to sign this. Please help me!! I need some cash soon and I am willng to do what ever it takes to learn more.
Be Blessed
Check out the bird-dogging forum here on this website. There are alot of posts with people asking for mentors, but there are some informational posts as well. If you have a few dollars, Click on the shop tab at the top of the page John Locke has a book called big bucks bird-dogging. It will help you understand both how to find the houses, and how to find the investors to buy them once you've found them.
Good Luck,
Jeff
thanks for the reply, I think I know where to find the investors however, I am concerned about the contract they are goign to sign. Is is good for only 30 days or does it expire with no consequesnce to me? Contracts make me nervous. Still don't know the name of it.
Thanks for the advice
Hmm, I'm concerned that "contracts make you nervous" because you are going to be signing and asking people to sign them all the time. I think that the better you understand the process, the better you will feel about the contracts and such.
I recommend that you join the "Atlanta" group started by Mrs Meltzer. It only costs a $1 and all the TCI Atlanta people meet to talk REI and rub elbows. I'm planning on making the next meeting if I'm not out of town.
BTW: what your talking about could be Birddogging or Flipping depending on how much your friend gets involved. You will find a lot of information about that on this site.
"Birddogging"
"Contract Flipping"
"Assignment of Contract"
You could be talking about "Assignment of Contract"
If this is all new to you your buddy should be helping you out!!