I am completely new to real estate, and I have a few questions to help get me started.
I will first start off by telling you guys some info about me. I am 18, and cannot afford to go to college until 2011 (my college bonds will mature) because of the insane interest rates the banks are trying to charge me on the student loans. I don't have a job (I have been trying though), and I saw this infomercial on TV. I was skeptical at first, but Dean looked like someone who was honest so I trusted him and bought the book. I read the entire "Personal Secrets (Step 1)" section "Make Money in Any Economy" and "30 Days to $10,000" in the first day. I was extremely excited in starting right away. I want to focus on finding a Realtor and Assigning Contracts for now.
So here are some questions I have to help me get started:
1. I don't have ANY money OR credit to start with so I was interested in assigning deals to other investors. Is this the same thing as charging a finder's fee? I haven't really noticed a difference.
2. Being 18, would telling a Realtor I am interested in investing in real estate draw them away because of my age? Or would it actually draw them to me because they know I will need more help, which means more money for them? I can see both happening.
3. If I can't afford a Realtor for my first deal. I am going to try to do it myself, but I don't know how to fill out the paperwork or contracts correctly (basically the only thing that is stopping me from going out right now). I am actually trying to not tell my parents about this until after I've made my first successful deal (they are HUGE "dream stealers" lol), so they are not an option to help me right now. How can I go about learning how to fill these out myself? Without hiring an attorney or Realtor to help me.
4. From my understanding from reading the forums, the only things you need to use for assigning a contract are "Agreement to Purchase" and "Assignment of Contract". Is this correct?
5. What is the best way to find a Realtor? And what's the best way to contact them?
6. Can you give me an example of an "Escape Clause" in case I cannot find someone to assign the contract to?
I'm sure there are a few questions still in the back of my mind that I forgot to ask. If I think of them I will post them in a reply. Hopefully these are questions that can help other newbies out, not just me.
I plan on going through with the Advanced Education once I can afford it. And I just need some help to get there, so I'm asking this amazing community
Are you new? Check out my NEW and IMPROVED Guide for Beginners! http://deangraziosi.com/real-estate-forums/everything-else/128413/domini...