New Guy Looking to Assign Contracts - Posted by Frank ON

Posted by BTI on June 17, 2006 at 12:39:58:


When I first read your post I was reminded on an incident that happened many years ago, a friend that was always asking about everything, but never doing anything to follow up all the advice you had given him, just happen to be driving by as I was cleaning out my garage. He told me he had just been laid off and the job market was dead for him and he wanted to start investing in real estate like I was doing, what should he do now.

My answer was do all the things I told you to do in the past and you didn’t. He said he was serious, he always said he was serious, what should he do because he didn’t have any money but he had lots of time. At that very same time I spotted a sandwich board sign that the school kids had worn at a fundraising carwash and I pulled it out, flipped it over to the clean sides of the sign and sprayed the sign with a can of paint, “I buy houses, let’s talk” and told him an area to go to, just go house to house asking if they want to sell I said, wear the sign everywhere I said, and snickered as he left, thinking of all the days I wasted in the past with him.

Well I started to feel really guilty so a few days later I called him, he said he had several people that were interested, so could he come over and find out what to do next, within 3 weeks he was able to put 4 deals together with my help. I often thought about that when I would hit a slow patch, maybe it would still work.


New Guy Looking to Assign Contracts - Posted by Frank ON

Posted by Frank ON on June 16, 2006 at 13:04:03:

I’m a newbie investor looking to assign some contracts to get started. I have a very limited advertising budget and was wondering where’s the best place to spend my time?

I attended my first Investor Club meeting this week and made all kinds of good connections. Right now I have a few postal workers bird dogging it for me to find vacant properties. I also have quite a few “We buy houses” signs posted around key neighborhoods I’m looking to jump into. I also have several rehabbers lined up to turn my first deal when I locate it. All the steps are in place except the deal itself.

I guess what I was wondering is that I’ve read that you can find lists like probate, people in default of payments, divorce, etc. all at the local courthouse. Would anyone recommend this as a place to spend a lot of my time to start with? If these produce useful lists I have no problem soliciting them in the various manners.

Ok now to really sum it up, I have almost a non-existant budget, what’s the best way to bide my time for looking for new deals if this isn’t it?

Also of note, I operate out of Toronto but I think the Canadian courthouses have all the same relevant information.