3. Plan Blog

How to Make Money in Real Estate in Only a Week

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I want to talk about how to market your real estate properly. How to market your property your investment, whatever it is you are trying to sell or rent for that matter.

Most people think that they have to go out and buy a house, search for a property, look for a rental, look for a deal that they have to invest in analyze this deal and start making an offer and go through a whole series of activities to become a Real Estate Investor. Well, nothing could be further from the truth.

What is Bird-Dogging

One of the ways that you could make money … the easiest that you could make money in real estate investing is through what we call bird-dogging. What bird-dogging is going out and finding deal for other investors and then you get a commission or referral fee or some sort of payment for doing that work.

 

The first thing you need to do if you are going to do that is seeking out Investors in your area. The way to do that is to go online and search “Real Estate Investor” in your area and you will find Investors. Go to one of the local real investors club and sign up there and start talking to people and find out what kind of investments they are interested in.

 

See how you can work with them to bring them investment opportunities. So the first thing you need to do then is to go out and determine what those investors are looking for so that when you start looking for opportunities you have a potential buyer or potential agent for your deal.

Another way to make money is to do an assignment.

What this means is you go out and you find a property, analyze the property and see that its aligned with what one of your Investors is interested in and you put a deal together. To put a deal together what that means is that you have to do some kind of presentation format … so you put together a spec sheet … you put together all the financials and this may take a little bit of work at first, but once you put together a template it’s pretty easy to fill in going forward.

 

There are a lot of templates out there that you can download on how to evaluate a property properly for an Investment. Again, when you do that you have to think of the Investor that you are trying to find properties for, because those Investors are either looking for a rental property which is a buy rent hold, flip and fix or even what is called a Rent To Own. I do a lot of Rent To Owns and I would love to have to have some bird-dogers bring me some opportunities for my Investments.

 

The second thing you are looking for is how they want that presentation or what state do they want that assignment deal.

For example; let’s say you are looking at a rental property, so you go out and you find a property and based on your potential investors criteria you determine how it cash flows, where the location is … based on what this person likes and is looking for you to do an analysis and make an offer.

 

Now, I know you are thinking OMG what if they accept the offer. So what you do is make the offer subject to assignment, there are clauses you can put on an offer “or assigns”. Some of the banks don’t like that but that is not a big deal once it is assigned you can get the owner to re-write the contracts to satisfy the banks.

 

So don’t worry about having a property under assignments as long as you know you have a couple of investors. Keep in mind when I say find investors I don’t just mean just get one guy who knows what he wants. I mean go out and talk to 4-5 people so that when you have a property you can move it fairly quickly and perhaps even build up a database.

Referrals

This is strictly looking for deals and talking to potential sellers, Rent To Own Investors, potential buyers and those who have the cash to invest. Then you present it to a potential Investor.

 

For example … if you present it to me for Rent To Own and you say “I have this deal, I have this tenant here that needs help, they have pretty good credit but not quite good enough to buy yet. I also have an investor all lined up and ready to go and ready to buy the house and all you have to do is manage the deal and do a joint venture with the Investor.

 

In my case I have a lot of investors that come to me and I treat it as a hands off opportunities for them which is almost like a guaranteed investment. They just buy the property and they sit back and I manage it. If there is any problems with the tenants or the property I take care of it and they never even have to see the property.

 

So that is a couple of ways that you can get started really easy through either assignments where you are on the contract or referrals where you are finding the deals putting it together giving them to the investors. In both cases it can be very lucrative.

 

As far as how much you would get paid for the deals, it depends on the area, on the person and how much work you do. In my case I pay anywhere between $5000 to $10,000.00 for putting a deal together.

 

It’s really ideal for someone who doesn’t want that long term management … that risk of owning properties, and they are more the sales person … they just like being in the sales position … and they put the deal together and hand over everything to me and I manager it.

Now let’s start making money in Real Estate

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