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HI Ben
Welcome to CashFlowDepot! Yes, options are your ticket to making money with real estate even if you don’t have money to get started.
An option is a purchase contract with a contingency clause that says something has to happen in the future before you will close ( like find a buyer for your contract).
A good way to get started would be to get option contracts on old, vacant houses (after you track down the owner). Then you can sell your contract for more than your purchase price.
Let us know if you have any questions
Jackie
This article will give you more details about wholesale flips:
You could also check out my book FLIP DEALS.
Hello Jackie,
I am trying to find investors, I have not come across any “we buy houses” ads on the newspapers yet, but I tried googling we buy houses in my local area (Winnipeg) and I have seen some websites and listings with their contact number, saying they buy houses at any conditions.
Do you think these people are investors or just people like me?
Ben.
http://www.kijiji.ca/v-house-for-sale/winnipeg/looking-to-buy-5-houses/1244600241?enableSearchNavigationFlag=true
http://instanthouseoffers.com/Gbenro,
Granted I have a shinny new investor carrot website that I got down in Panama at the conference, but I am sure you can do this also with yours or a phone number. Without a website to land on it may not be as effective but I am sure it will work in some extent. Investor carrot has a training module for like $99.00 buck that I purchased. It walks you through on how to do Craig’s lists posts to drive home buyer to you, but better yet investors.On February 25th. I started to put up ads to attract buyers and sellers both. Not anything as aggressive as they advocate. They say right in the training that you will not attract allot of people who will want to sell their home, but allot of investors. As of date, I have now had 17 investor inquiries. I have one mobile home deal come to me that I am working on now to close. He wants 5K for the home. I believe I will get for a little less.
Give it a try. Make up your own ads or bight the bullet and buy the package. It does work. There are people out there with cash and would love to get in the game. Actually my best investor leads are already doing deals they just need more. Now remember every one of these leads so far want wholesale deals. Actually for me, not the kind of investor I really want. I like financial partners for long term buy and hold deals.
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