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Old 05-23-2013, 11:56 AM
 
21 posts, read 33,355 times
Reputation: 11

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I am a new real estate investor in Riverside, Ca and having trouble seeking a "mentor" or partner to show me the ropes on how to wholesale and do lease options without being a 'flunky". Ive been searching for a partner that I can bring deals to in exchange of them showing me the ropes. I dont want to just be a "bird dog" and want to start a small team. I am new to real estate and have been reading several courses and podcast to learn the business on my own and don't mind doing the legwork if its going to get me to the next level. I've been thinking if i need to partner with a cash buyer , mortgage broker or an agent. help please
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Old 05-23-2013, 01:45 PM
 
Location: Baltimore
1,759 posts, read 5,124,164 times
Reputation: 1201
Why aren't you, a budding real estate investor, willing to put up your own money? Why would I, an experienced real estate investor, give you my money? What do you bring to the table that I don't already get from 10 other individuals? Unless these 'deals' that you're bringing to the table are properties that you have inherited, I can promise you that the investors in your area already know about them. And have probably passed on them for a reason.

Last edited by davecj; 05-23-2013 at 01:55 PM..
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Old 05-23-2013, 02:45 PM
 
21 posts, read 33,355 times
Reputation: 11
So your telling me i have no luck and learn on my own to build my own team? i would be open for a 'real estate seeks apprentice' to learn
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Old 05-24-2013, 04:51 AM
Status: "Made the Retirement Run in under 12 parsecs!!!" (set 12 days ago)
 
Location: Cary, NC
43,142 posts, read 76,705,928 times
Reputation: 45473
Quote:
Originally Posted by natasha123 View Post
I am a new real estate investor in Riverside, Ca and having trouble seeking a "mentor" or partner to show me the ropes on how to wholesale and do lease options without being a 'flunky". Ive been searching for a partner that I can bring deals to in exchange of them showing me the ropes. I dont want to just be a "bird dog" and want to start a small team. I am new to real estate and have been reading several courses and podcast to learn the business on my own and don't mind doing the legwork if its going to get me to the next level. I've been thinking if i need to partner with a cash buyer , mortgage broker or an agent. help please

Investors invest. Bird dogs bring deals to others. Much bird dogging is just amateurs doing real estate brokerage in a gray area, without a license, and often breaking multiple laws depending on their location.

If you actually are an investor, invest. That means you should put your own money or your credit on the table to acquire the property and put some skin in the game.

If you are just bird-dogging deals for other people with no actual investment of your own money or credit in the property, then call yourself a bird dog. You will make a lot of money for someone else before they will ever consider you a partner.
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Old 05-24-2013, 07:00 AM
 
Location: Baltimore
1,759 posts, read 5,124,164 times
Reputation: 1201
Quote:
Originally Posted by natasha123 View Post
So your telling me i have no luck and learn on my own to build my own team? i would be open for a 'real estate seeks apprentice' to learn
What I am saying is what do you bring to the table that an experienced investor would need to consider teaching you the business?

Real estate investment is less about knowing how to swing a hammer and lay carpet and more about relationships, due diligence, financing, financial modeling and market analysis. All of which sounds like you have no experience in. The contingencies you build in may or may not save the life of your project.

So again, what do you bring to the table that would make me want to take time out of my day and money out of my pocket to drag you along and teach you the process? Most of us learned the hard and expensive way.

Not trying to dissuade you from the business but you really need to take a look at yourself in the mirror and ask yourself if you have the stomach to take on projects that quickly become overwhelming, nauseating, expensive, and out of your control (permits, approvals, neighbors, material shortages, etc).
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Old 05-24-2013, 07:05 AM
 
Location: Baltimore
1,759 posts, read 5,124,164 times
Reputation: 1201
Quote:
Originally Posted by natasha123 View Post
I am new to real estate and have been reading several courses and podcast to learn the business on my own and don't mind doing the legwork if its going to get me to the next level.
I'll leave it with this. A marketing professor in college told me that owning a business is great because you only have to work half days. Whether it is the first 12 hours or the second is up to you. I think you're already in over your head if you have to state that you don't mind doing the legwork as a beginner.
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Old 05-24-2013, 07:17 AM
 
Location: Full time RV"er
2,404 posts, read 6,562,477 times
Reputation: 1497
Quote:
Originally Posted by natasha123 View Post
I am a new real estate investor in Riverside, Ca and having trouble seeking a "mentor" or partner to show me the ropes on how to wholesale and do lease options without being a 'flunky". Ive been searching for a partner that I can bring deals to in exchange of them showing me the ropes. I dont want to just be a "bird dog" and want to start a small team. I am new to real estate and have been reading several courses and podcast to learn the business on my own and don't mind doing the legwork if its going to get me to the next level. I've been thinking if i need to partner with a cash buyer , mortgage broker or an agent. help please
I have alway thought Doctors made a lot of money ! do you think I could find a Dr to teach me the rope's ? have you ever heard of "Go Back to School ! "
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Old 05-24-2013, 01:01 PM
 
21 posts, read 33,355 times
Reputation: 11
ive read thatyou can do joint ventures with wholesalers and split the deal. i am open to do that.
i found a vacant house and i dont know too much what do i. i figure another experience wholesaler can commit to show me the ropes and we split the deal. that way next time. i have more deals to offer and can continue to do joint ventures. is that hard to ask?
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Old 05-24-2013, 01:03 PM
 
21 posts, read 33,355 times
Reputation: 11
you ask what i bring to the table?
as a property finder i find LEADS....and willing to go half and gain knowledge. that way the next deal i find, i know exactly cons and pros and bring a bigger deals long term
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Old 05-24-2013, 01:27 PM
Status: "Made the Retirement Run in under 12 parsecs!!!" (set 12 days ago)
 
Location: Cary, NC
43,142 posts, read 76,705,928 times
Reputation: 45473
Quote:
Originally Posted by natasha123 View Post
you ask what i bring to the table?
as a property finder i find LEADS....and willing to go half and gain knowledge. that way the next deal i find, i know exactly cons and pros and bring a bigger deals long term
A "lead" is worth about $100 after closing.
Have you not been able to collect on them?
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