Hi all!
As you can see I am new to this forum. I have just finished reading steve’s book and it really did make a lot of sense. I haven’t started buying properties but am keen to begin. However, I am a uni student with only a part-time job and very little income.One part of the book that interested me was the idea of selling property deals to other investors. I was wondering if anyone else out there has done this and if they could post some advice about how they went about it. Would also love to hear from anyone who has begun buying property from my position.
Thanks[
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JoelHey Joel,
I woud love to help, but I am only starting my first year of UNI next year. I ahvn’t bought my first property but i am very keen to. ou might also have a bit more luck getting a response to this mesasge by posting it in Specifically Property, or Property Plus thread.Cheers
Matt“If you do what you have always done, you will get what you have always had.”
“Isn’t it time for a change?”
Hi,
It’s not complicated… find a deal and then find someone who wants to buy the details from you. Given the substantial number of people who can’t find +ve cashflow properties, you should be doing OK quite quickly.
Ah, but don’t advertise on the forum here as (except in special cases that have pre-approval) it’s against the rules.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Umm Steve if you found a good deal you dont have to buy the realestate to sell the deal on. Do you?
Hi Shaepower,
Welcome to the forum, i just seen your post and will answer your question shortly, firstly, you dont need to buy the realestate to sell the deal on to some one else.
What some spotter or finders agents have been able to do, is setup an agreement in such as in a contract, were the agent gives you the right to sell the property on the behalf of them and on the vendor.
Such things in the agreement can include, specific dates to when the property will be fortfeit back to the agent as a listing if the spotter is unsuccessful, the agreement will also stipulate that the agent cannot sell the property to another person, or some one who shows interest.
This protects both parties who are trying to sell the property for the vendor. Though in most cases, as part of the agreement, if the spotter is successful in selling the property to an interest person or party, then it will be stipulated in the contract in most cases that a small finders fee must be paid out, to such persons or acting persons.
Hope this gives you a better understanding.
cheers
s.i.sThe person who finds the property is not allowed to show the property to the potential purchaser. You must be either a licensed real estate agent or be working as a sales person for a licensed real estate agent before showing properties. If you breach these rules you may open yourself up to possible legal liability if you should happen to misrepresent the property and the purchaser takes legal action.
I believe a spotters fee for introducing the two parties would be the safest option, as you would only be setting them up for a meeting, without any involvement in the discussion or viewing property with them.Hey All,
I also have just finished reading the book for a 2nd time (now have pleanty of questions to asl). I am also short of cash and was very intrested in the idea of selling deals to investors. The forum rules state that i am not allow to advertise on the forum, am i allow how ever to state that i have a deal and am willing to sell it and for people to contact me outside of the forum?Look forward to asking more questions in the future in different posts[
]Lyas Dave
Hey SIS good luck getting a agent to do this, they know +ve cashflow property sells fast, they dont wana get mixed up in complicated deals when they dont have to. I have trouble enuff just getting subject to building/pest inspections or Finance.
Regards Bear
Originally posted by Still in School:Hi Shaepower,
Welcome to the forum, i just seen your post and will answer your question shortly, firstly, you dont need to buy the realestate to sell the deal on to some one else.
What some spotter or finders agents have been able to do, is setup an agreement in such as in a contract, were the agent gives you the right to sell the property on the behalf of them and on the vendor.
Such things in the agreement can include, specific dates to when the property will be fortfeit back to the agent as a listing if the spotter is unsuccessful, the agreement will also stipulate that the agent cannot sell the property to another person, or some one who shows interest.
This protects both parties who are trying to sell the property for the vendor. Though in most cases, as part of the agreement, if the spotter is successful in selling the property to an interest person or party, then it will be stipulated in the contract in most cases that a small finders fee must be paid out, to such persons or acting persons.
Hope this gives you a better understanding.
cheers
s.i.s
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