No! The law states that you must hold an active real estate license in order to earn money selling real property for “another.” For example, if you know someone who wants to sell their property and you know someone who wants to buy that property, and you introduce the two and they make a deal together, you cannot get paid by either party unless you hold a real estate license.

 

As a real estate investor, when you meet a seller and YOU sign a contract to buy that piece of real property, you just became an interested party in that piece of real estate. You can market it for sale, find a buyer and assign your rights in that contract to another person, known as an assignee, for a fee known as an Assignment Fee.

 

This is called wholesaling and as a wholesaler, you are not selling real estate! You are selling your rights in your contract to obtain what the contract offers.   These techniques are not taught in traditional real estate schools and that’s why so many folks who don’t find out about real estate investing education go through life believing the myth that this isn’t possible for them. Click here to learn about our Moster Wholesaling Machine Program.

 

 

Not unless you are actually purchasing the property! Credit does not play a part in any transaction involving “controlling” real estate. That’s why so many folks can earn a great living just as soon as they get educated about the various niches in real estate investing that allow you to control real property. As they accumulate profits from using these techniques, they can also re-establish their credit too. At a later point in their career, they can begin purchasing the real property on their own.

 

 

No. Understanding and then implementing certain strategies will allow you to control property with very little capital and risk. Huge profits are made by simply controlling property. Every competent individual over the age of 18 can become a successful real estate investor as long as they have the right education.

 

 

YES!  In the niche of real estate investing, there are private individuals who also invest, but instead of buying and selling real estate themselves, they invest only their money.  They lend based on the property's value first and then on the merits of the buyer.  They lend to self-employed investors who don't usually have to show proof of income, but just decent credit and a good deal/house to lend against.  These private investors are called "hard money lenders" and will close a deal for you within days.  The term "hard" is used because they make loans at high interest rates, such as 15% - 18% and charge 3 to 5 points on the loan amount (that's 3% to 5%).  That may seem like robbery to the novice; but in the industry, this money is super valuable and highly sought after.  When you are in and out of deals quickly, hard money is far less expensive than the cost of a conventional loan.  You can meet private lenders at REIAs all over the country, including the FLREIA.  They are always looking for new clients who want to put their money to work!

 

 

No, there is currently no license requirement for real estate investing; however, governmental agencies and proposed bills and laws are always shaking things up, trying to regulate real estate investing. Being a member of an organization who keeps their eyes and ears open to these changes in regulations is a must for any successful investor. Many new laws recently came into effect regarding the assistance of those facing foreclosure. Most new investors believe they aren’t even allowed to buy a foreclosure since the law is so difficult to understand. Again, not having the right information could cause investors to stop profiting in real estate just because they don’t have a clear understanding of new laws and regulations. As a member, one quick email or call to your Membership Concierge desk and you’ve got the answers to keep you out of trouble and to protect your profits.

 

 

Absolutely not! Anyone can earn a living using their own name but it’s not the best thing to do because of liability and possible tax consequences. On the FLREIA homepage, you can click the link that states “Incorporate Now” to be connected to Corporate Creations, the best source of helpful advice on creating your new entity and what type of entity to create.

 

 

Absolutely! Many new investors believe that you can’t buy property if it’s in foreclosure and that’s absolutely false. It doesn’t matter what’s going on with a property, as long as the seller is willing to sell and you are willing to buy it, it’s only a matter of clearing the title work and setting a closing date. Even if a property is in foreclosure, as soon as the closing agent wires the bank their money, the foreclosure stops and you become the proud new owner.

 

Another myth about foreclosures is that new investors believe that if a home is in foreclosure, they can purchase it directly from the bank. Again, this is absolutely false. Until the foreclosure actually occurs (property sold at the courthouse steps), the property belongs to the homeowner. Some folks see a boarded up vacant home with the locks changed and try to contact the bank never to receive a return call. This is common and happens because when a homeowner is behind in their mortgage payments and vacates the property, the lender has the right to access the property to “protect their interests”. To protect the home, they have every right to break in, change locks, cover the pool, board the windows, etc. until the foreclosure auction occurs. Although they gain access, they do not gain ownership until they win the bid at the foreclosure auction. If you wanted to purchase this property, you must locate the homeowners to do so. If you can’t find them, then there’s nothing you or the bank can do.

 

 

When you venture out into any new endeavor, you need a foundation. That foundation consists of education, experience, capital, professional network, mentors and so much more. The FLREIA provides that strong foundation. When you join the FLREIA family, we become your partner in achieving your real estate investing goals. The FLREIA Partnership Program is so popular because it provides the perfect hand-holding earn-as-you-learn opportunity to wholesale property together. Click here to learn more about the Partnership Program.

 

 

Wholesaling is the most popular real estate investing technique because it requires little capital and little risk. It’s also one of the fastest ways to earn a profit in real estate investing. To learn more wholesaling and other unique techniques, click here to view our FLREIA Tools & Products section.

 

 

Click here to read the exclusive Short Sale Special Report. This report will teach you more in a few minutes than you ever thought you could know about this equity creating technique currently sweeping the nation.

 

 

Memberships run annually and expire 1 year from the date you join.   Click here to join the FLREIA Family of investors.

 

 

It depends on the way you are purchasing the property. If you are going to wholesale the property, you can literally purchase and simultaneously sell the property with as little as $1.00 in the deal. See the answer above about controlling property for more information.

 

 

For newer investors this appears to be the only way to invest in real estate, but the fact is there are many ways to invest real estate. The beautiful thing about real estate is that you can choose how dirty you want to get. If you’re a hands on kind of person, you can rehab and retail, be a landlord, be a developer, etc. If you prefer not to get your hands dirty, you can invest in paper via notes, mortgages, REITs, etc.