One of the obstacles most of us face when trying to get into real estate investing is lack of money. There is one way I recommend that will get you into real estate investing and requires little or no money.
If any of you have seen the movie “Field of Dreams” you will remember the line ” Build it and they will come” well, in real estate I have a saying that says ” Find a good deal and the money will show up”.
What this mean is if you do the leg work to find a good property that can be flipped for a profit, or turned into a rental, then all you need to do is shop the deal around to find an investor or a partner.
Some call this “birddogging”. You find the deal and wholesale the deal to another investor for a small profit. They in turn have the money and know-how to fix it and retail to a buyer.
If you can find a partner who will put up the money to buy it, fix-it, and rent it ,then you can manage it for a percentage of the monthly rent as well as agree to a percentage of the equity when it sells.
Find a a partner or learn to birddog and you too can get into real estate investing with little or no money.
Regards
3 responses so far ↓
1 Todd Sallee // Oct 26, 2005 at 4:45 pm
Birddogging is all about your marketing and communication skills. If you have them birdgogging is no problem. If you don’t it is a hard road.
2 Ray // Oct 26, 2005 at 5:00 pm
Todd, couldn’t agree with you more. The ability to market and communicate is key. You are also a problem solver. The more problems you can solve the more deals you will close.
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