30 Ways to get Paid In 30 Days

If you are a Real Estate Wholesaler there is no excuse for not making money in Today's Real Estate market. There are so many opportunities that can get you making money in the next 30 days.

*Those underlined in blue are links on that particular resource!!

Make some Money in 30 Days

Wholesale ugly/vacant houses to landlords, rehabbers, contractors
Flip subject-tos to owner-occupant buyers and landlords
Flip lease options to tenant-buyers and landlords
Flip pretty houses to owner-occupant buyers
Flip leases to tenants
Auction houses for investors
Bird-dogging
Putting out signs
Putting out flyers
Skip-trace sellers
Sell your seller leads to agents and loan officers
Sell your buyer leads to other investors, agents, and loan officers
Sell your tenant leads to landlords agents
Sell you buyer/tenant leads to credit repair companies
Charge FSBOs and investors a fee to market their houses
Refer rehabbers to hard money lenders
Create a Property Hot Sheet and sell advertising to vendors
Negotiate liens and judgments to clear title issues
Charge to run comps
Charge to estimate repairs
Charge to manage repairs
Charge to notarize documents
Sell lists such as vacant houses, city code violations, tenant evictions, fire damage reports, out of town owners, probate notices, pre-foreclosure notices
Negotiate forbearance or workout plans
Sell bankruptcy kits
Postpone foreclosures
Sell Short Sale leads
Hold wholesale meetings
Start your own investment group (Yahoo group or discussion group)
Teach others what you know

Assigning a property to another buyer

Assigning A Contract

One way to get out of a contract is what's called assignment, which
is finding someone else to take over your obligations. Because contract
rights are considered property, they can be transferred to others just
like a piece of property such as a home or car.

Let's say you have a contract to purchase a number of items each month from a dealer, at a certain price. The contract runs for a year. You then decided the product is no longer working out for you, and you'd rather not buy any more. As long as your contract allows it, and it is
legal to assign the contract , you can just find someone else who wants to buy the same number of items each month and "assign" your rights and obligations under the contract to him.

Most contracts permit an assignment as long as the other party to the contract approves the assignment. And many contracts require the other party to approve of an assignment as long as the assignment is "reasonable," meaning that the assignment won't jeopardize the security
of the other party or increase the other party's risks."

So in conclusion, what I have shared with you is that once you have a property locked up, all rights of the contract is considered "property" and therefore under your control. Therefore you reserve the right to do what you want with it. Assigning your right to purchase the property
once it is locked up is your right. (lawyers.com)

“When we have the right to buy (purchase & sale agreement from the seller to us), we have the right to sell” Attorney William Bronchick – real estate lawyer and also investor. Make sure you put an option to assign on your contract. Options can be sold or exercised.

When you sign a purchase agreement with a seller simply put and/or assign next to your name. This will enable you to assign the contract to another buyer.

Written by Carol Stinson. All rights reserved.

Finding the market value of a property

Finding the Market Value or "ARV" of an investment property is the first step in determining if it is a deal. Whether you are a Real Estate Investor or a Home Buyer you want to know if you are getting a good deal. Below are some quick links to help you in your search.

When I present an Investment Property to one of my buyers the first things that they want to know is “What’s the Market Value”. This is the most important fact in determining if the property is a deal. No matter how motivated your seller is if the property is not at least %40 below market value it is not a deal.

Finding the market value or “ARV” of a property is the key factor in determining a deal. The MLS is the most accurate way to find the value of a property but not everyone has access to the MLS.
Fortunately there are many web sites that link directly to the MLS and they are free for anyone to use.

These sites will give you the market value of a property along with a list of comparable houses that have sold in the area. Below are links to some of the web sites that I have found most useful.
Zillow.com
Homevaluehunt.com
Homes.com
Homevalues.com
Homegain.com
Cyberhomes.com
Realestate.yahoo.com/homevalues

Try to use the estimates from a few different sites when you are looking at the market value of your Real Estate Investment. Now find a motivated seller and you got a great deal!!! Good Luck!!

Written by Carol Stinson. All rights reserved.

Getting Paid to Find Investment Properties For Investors... BIRD DOGGIN!

Did you know that you could earn $1,000 to $4,000 a month just finding properties for Real Estate Investors? Locate properties for investors and get paid to do it.

Most Real Estate Investors will pay anywhere from $500 to $2,5000 for each property lead that they purchase. It's called a referral fee.

The first thing to do is find Real Estate Investors and build your buyers list. This can be done by looking in your local news paper under Real Estate for sale. Look for adds that say "I buy houses" or "properties wanted". Once you locate one of these adds call the phone number and ask the investor if he pays a referral fee if you find him a property. Ask him what kind of properties they are looking for ( how many bedrooms etc...) and in what area. Keep a record of what each buyer is looking for. I keep a separate file for each one of my buyers as well as keep a notebook journal on each one for easy reference.

Once you locate a Real Estate Investor that pays a referral fee you must look for properties. Drive through neighborhoods and look for vacant or distressed properties. Distressed properties are those where the grass is high, the windows are boarded up etc...

Once you locate a property write down the address and take some pictures. I write the address on a dry erase board and put it in front of the property for the picture. This helps me keep track of the properties that I find and photo.

Now you must research the property. The first thing to do is go to various home market sites to find out how much the property is worth. I have a list of websites in my blog entitled " Finding the market value of Real Estate".

I suggest going to your county tax record website or propertyshark.com and find out the owners name and current address.

Once you get a name you must try to find a current phone number. You can search yellowbook.com which will give you a phone number if it's listed. Sometimes the phone number is not always available and you will have to send a letter to the address listed for the owner in the tax records .

You can also try to get information on the owner by asking the neighbors. You will be surprised how much information you can get from the neighbor.

Before you turn the referral into the Real Estate Investor you should contact the owner to see if they want to sell the property. Ask them how much they would want if you were to offer them cash. You must get a good deal in order for the Investor to be interested in your lead. Remember Investors will only pay you if they purchase the property so you must get the owner to agree on a low price.

Now call the Real Estate Investor with your new deal.

Written by Carol Stinson. All rights reserved.


For more information visit Make Cash Now in Real Estate

How to identify a motivated seller

There is no better Real Estate Investment deal than that of a motivated seller. We all want to find those motivated sellers. Those property owners who simply need to make a deal with an investor in order to unload their burden of a problem property.

The first thing we must do as wholesalers or Real Estate Investors is understand what makes a seller motivated. What makes a seller so motivated that they are willing to make any deal possible in an effort to unload their problem property.

Here are some of the circumstances that make a motivated seller.
They desperately need to sell their property because of financial circumstances. The loss of a job, the death of a loved one etc… Something happened that changed their financial situation.
They are in an Adjustable Rate Mortgage and can no longer afford the payments.
They are in preforeclosure and need to sell their property to avoid an inevitable foreclosure.

Your success as a Real Estate Investor or Wholesaler depends on your ability to distinguish between a motivated seller and a non motivated seller. You will never convince a non-motivated seller to turn into a motivated seller. You will be wasting valuable time trying to transform a seller who does not have current circumstances to make them motivated enough to make a deal.

Evidence of a motivated seller depends on the answer to two basic questions.
Would you sell your house for what you owe on it?
Would you let me buy your house by taking over the payments?
If the seller answers yes to these questions they are truly motivated and you should be able to lock in a great deal with owner financing "subject to".
If the sellers answer is no to these questions then they are evidently not motivated and you will be wasting valuable time trying to negotiate. Move on until you find that motivated seller that is willing to negotiate a great investment deal.

There are Real Estate Investment deals and then there are GREAT Real Estate Investment deals. A motivated seller is the difference between the two!

Written by Carol Stinson. All rights reserved.