How many times have you been walking or driving around your neighborhood and notice a vacant property or a for sale by owner sign in front of the house, sometimes you talk to an aquaintance and hear someone is about to lose their home to foreclosure or have to relocate and need a quick sale of their home. How would you like offer a solution to this folks and make a premium doing it.
Educated real estate investors know that finding good deals is limited to the time they can allocate for that purpose, they learn to leverage the time from individuals that can refer them new deals that are not available through traditional means . they need feet on the ground that can identify and find such properties, if the deal goes through they are happy to pay a referral fee that could turn hundreds sometime thousands depending on the deal and the working relationship.
It is not difficult to begin just walk around your neighborhood you will find vacant properties you probably never noticed before.
Make it a game for your family on weekends load your kids on the minivan and take them to yard sales promise them a dollar for every ugly house they spot they will love for it at the same time spend quality time and plant a seed that could change their future. Don’t have kids? Take a partner, stop and talk to sellers check and evaluate vacant houses you’ll be surprised what you can learn in the process.
In time you will learn to develop an eye and ear for finding properties that will earn you enough cash so that you can start doing your own deals, my next tip will give you some insights on how you can take control of a property with as little as five hundred to one thousand dollars.
To be successful at referring properties you will need to build relationships with local investors, you can find them in real estate communities like ours that meet regularly you probably seen street signs that say we buy houses for cash on the side of the road, those are investors looking for deals meet.com has groups of investors and so on.
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Next time you go for a walk or drive see how many vacant houses can you spot in a square block around your neighborhood that you did not see before . some have more some have less but all you need is one to get you started.
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