Welcome To SingingPig.co.uk

Hi there my names Kris.  This is my first post, I hope its in the right section!

I have just recently became more interested in property, I'm young, work for a standard wage and I'm looking for ways to invest for my future. I'm not wanting to start off by investing in property because that takes a lot of money which is something that I don't really have at the moment. Some point in future I would like to invest.

I want to start off gaining expierence of the property market, I have been told that a good way is to be a 'finder'.  I have been reading about this on your forums, sometimes its a little hard to find info in between all the deals and BMV lead postings.

What I'm looking for is some raw essential material on how to start myself off.  I want to start small, sourcing properties myself, face to faces and not going down the way of leaflets (just yet) I have already sourced a few houses with motivated sellers.

I would have a fear of if I got more leads than I expected and I didn't know what to do next and I don't want to waste sellers time and make bad name of myself.

The knowledge I am lacking is what happens in between the start and end....

Questions I ask myself are.. What info do I need to gather for an investor? What third parties are invovled in helping me gain info? Who does what and when in the process of a house being sold to an investor?  What are my roles & responsiblites in the process? Are there fees, inital costs that I have to pay out?  

Theres probably a lot more I'm not covering.  Sorry if this is a bit long winded!   I'm not expecting anyone to write a detailed step by step method (although that would be nice).  If my answers could be answered and a bit more insight would be amazing.

Also if there are any expierenced finders out there that want to help me on a 1 to 1 just to get me on my feet, feel free to PM me.  It would be fantastic.

Thanks for your time.

Hi Kris,

Probably you would have been better to start off in the New Members Introductions section. Never mind.

Finding properties - I got quite a bit of info on this from Parmdeep Vadesha’s ‘Success through Property’ course. I don’t know if he is still selling a newer edition. Actually it’s not a course at all but an A4 folder of photocopied sheets!!! But there is some great info on negotiation skills and location leads, some of it is still probably pretty current. He used to do a short email teaser course, then offer you the full course at just over £100. However, if you hung on his automated mailing service would offer it to you half-price after a couple of weeks!

Parmdeep is a clever guy. Like a lot of clever guys, he makes a lot of money out of selling courses – possibly more than he has made from property. Beware of people selling courses who have little or no real experience of property – there are plenty. They may be great salesmen, but they may not teach you what you need to know or what will actually work.

Stick around on the forums and read, read, read. There are a lot of really knowledgeable and helpful people here. Also a fair few sharks. Beware!

I have a long-running current thread at http://www.singingpig.co.uk/forums/thread/931053.aspx which is all about finders. Contribute if you like. Don’t be afraid to ask questions. The only silly question is the one you need to ask but don’t out of fear of being silly.

Where abouts in the country are you Kris? Perhaps you could be a finder for me!

Rich.

Hi Kris,

My names Sultan, i was also in your position a couple of years ago but found a few companies that have helped me purchase through no money down deals now at the age 23 i have 2 flats in uk and a property overseas, but be careful as there are loads of companies that promise deals that dont stack up also make sure the reservation fees you pay are refundable,if you need more information do not hesitate to contact me, my email is drsolm@yahoo.co.uk.

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Hi Sultan, beware as NMD which involves any form of non-disclosure to lenders (as it currently does with all BTL products I am aware of) is mortgage fraud these days. There are a few good finders out there, and a lot of sharks who will take your money and scarper! Always check the Land Registry data to make sure the deal is the BMV claimed (usually it’s somewhat lower and you can distort data very easily by being selective with comparables).

 

Good luck to you!

 

Rich