How do I get started?

How do I get started?

Okay, I've read the book and I'm completely pumped to get started! I've done research in my area, which like a lot of areas, is in a downward/bottom trend. I've looked in to real estate agents, contractors and lawyers in my area and have a list of the ones I think are the most experienced, all with 20+ years working in their respective fields specifically in my area.

Here's where the problem comes in:

I'm a full time college student, barely paying the bills. I currently have a negative monthly cash flow which is only offset every semester when I get enough financial aid to tide me over until school's out and I can work full time, or next semester's financial aid comes in. I have absolutely no extra money to devote to real estate investment and I have bad credit, (because my mom used my SSN on a cable TV agreement when I was 12,) but I'm working on the bad credit thing, (side note: Anyone know how long it takes to get a free credit report? I filed for my free reports a couple months ago and still haven't received anything.)

I'd love to do some assignment deals in my area, which would allow me to get some money to start doing some real investing. Only problem is I don't have any initial money to pay a real estate agent or lawyer for advice/assistance or a contractor for an estimate on renovation costs. Is it possible to get a real estate agent who is experienced enough to serve all of those functions, (legal counsel and renovation estimate) and promise to divide my finder's fee with them in addition to using their services for many, (if not all,) future deals?

I'm totally new to all of this and would appreciate any advice or input anyone can give me.

Many Thanks.



Check out this thread to start with:


Thanks Angela!

Thank you for that. I looked at the article and it helped a lot.

I just got off the phone with an investor; I was checking on the possibility of assignment fees. I thought I understood assignment fees, but I don't if what he said is true. He mentioned something about an investor's commission, that I would have to pay him before the property went through escrow. This confused me, because I thought the processes by which I get paid and by which the investor gets paid, were separate. Why does he think I would need money to pay him upfront before receiving my fee? Is there some sort of miscommunication going on?

It was my understanding I could negotiate a contract with an owner, incorporating an assignment clause and stipulating a price. I would then assign this contract to an investor, with whom I draw up a promissory note, identifying a specific fee for giving him the right to purchase the property in question and complete a non-disclosure agreement with the investor. Then, when he purchases the property, I receive my payment and he has a property to flip or fix and rent out.

Let me know if I am getting this right or give detailed steps where I might be wrong. I want to be prepared to clarify everything when I call him again.

Thanks! And thanks again Angela. You and everyone here seem so helpful and it really is a great environment to be in.

Hi James, Which book are you

Hi James,

Which book are you referring to that you read...RIGHT NOW???

Also, I was able to get my free credit report immediately:

Good Luck!



"I'm discovering the best way to predict our future is to create it!"


The book I read was Dean Graziosi's "Be A Real Estate Millionaire." It's got me jumping in anticipation. Thanks for the info on your credit report. I'll follow up on that with them.

Take care,

Investor's commission ???

'Investor's commission' ???
I don't think so!
Never speak to this person again!

I have another thread for you to read though Smiling

Use the (Search / Enter) box at the top of the left hand panel to search for topics of interest and see what you find. The info on this site, 'priceless!'


Welcome James

Good to see ya here. Check the links above, and look at all the FAQ's.


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This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams

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