One of the best ways to make money in the real estate market does not require you to buy a single property. As a retailer, you need substantial funds and excellent credit. If you are interested in becoming a dealer, you have to negotiate with sellers and motivate them to sign your contract. However, all you have to do as a scout is find information.
A scout is somewhat similar to a flipper in the real estate market, but instead of flipping contracts or actual properties, a scout flips information. This method of real estate investment is one of the safest ways to get into the market, especially since there is less risk than just dealing with property options. As a scout, all you need to do is research and gather all the necessary information on bargain properties, and then turn around and sell that information to the retailers and dealer who may be interested in purchasing the property.
Just A Little Elbow Grease
One way to look at a scout’s job is that they do all of the dirty work for those who wish to invest in the real estate market. On the other hand, real estate investors are willing to pay quite a hefty sum for all of the scout’s hard work. As a scout, you will usually be asked to gather relevant information for a potential investment deal, such as:
• The name of the owner and their contact information
• The amount the seller is asking for the property
• Pertinent information about the mortgage and payment status
• Information on any liens currently on the property
• A clear photograph of the property
• Any other additional information that an investor may find useful such as seller motivation
Investors in the real estate market are generally willing to pay between $500 and $1,000 for the information collected by a scout. Investors realize the value of the scout’s work and are more than happy to pay, allowing you to make money in the real estate market without purchasing a single property or contract.
Property Options Australia
Property Options Blog © 2006 – 2009
Hi Sean,
This is an interesting way to make money in the real estate market. I think this a good way to get started if you have no money and no credit. I think by the time you made enough money to buy your first investment property; you’d be a seasoned property investor.
I agree with Jazz. this is like earn while you learn about real estate investing…a win/win for yourself. I can see why other property investors would pay you because they are leveraging your time. I like this idea.