WHAT IS AN INVESTOR FRIENDLY TITLE COMPANY?
We often tell our students that they should only use “Investor Friendly” Title Companies.
If you are wholesaling this is VERY important since you cannot just go to any title company for your closing.
And you definitely DO NOT want to be using the seller’s title company.
So the question we often get asked by new students is WHAT IS AN INVESTOR FRIENDLY TITLE COMPANY?
The answer is an investor friendly title company is a title company that markets their services to investors and that works with investors and wholesalers.
Most title companies (90%+) DO NOT market themselves to investors and deal with RETAIL closings (think real estate agent, mortgage broker, appraisal)
Investor Friendly Title Companies market their services to investors and are familiar with
*Wholesaling
*Double Closings
*Transactional Funding
*Hard Money Loans
So how do you go about finding an investor friendly title company in your City and State?
One of the easiest ways is to simply Google Search “Investor Friendly Title Company” and add the name of your City.
There are many online forums (for example Bigger Pockets and REI Club) that will have threads from investors where you can read what other investors and wholesalers have posted on those forums. Just keep in mind that some of that information that is posted could be from a newbie like yourself.
An even better way to find investor friendly title companies is to attend the local real estate investment club meetings in your area.
Google Search “Real Estate Investment Club”, “Real Estate Investor’s Association” or “REIA” and the name of your city.
You will find real estate investment clubs. For example our real estate investment club is located at www.distressedreia.com
If you are a new real estate investor then you should make a point of attending investment club meetings religiously.
Look at it like work. If you don’t show up late for work then you shouldn’t be missing real estate meetings.
Attending these meetings will allow you to meet wholesalers, lenders, investors, rehabbers, title companies, contractors etc.
Most REIA’s hold their meetings once a month. Some have monthly lunches.
Real Estate Investment Club meetings could be small and intimate with 10 or 15 people or they can be large groups with 100 or more investors.
Both are good and I recommend that you ATTEND ALL of the Real Estate Investor Association Meetings in your area.
As a beginner you cannot really afford to miss out on these meetings – and if you want to get the most bang for your buck then let people know you are a beginner and learn from the more experienced investors who will often be more than happy to share their knowledge and experience with you.
Attending these meetings is an excellent way for you to meet and network with other investors, rehabbers, and wholesalers.
You will also meet lenders, investor friendly title companies, contractors and people that you could be partnering with or borrowing money from.
A great resource for finding investment clubs and meetings in your area is the Meetup Website which you can find at www.meetup.com
You can click on this link to see our local Real Estate Investment Club (South Florida) on Meetup
You will be amazed at how many real estate groups there are in your area. Make a point of going to meetings on a regular basis (every month).
The way real estate investment clubs support their operation is by having speakers come to meetings. Some of these speakers will be educational and some of them will have something to sell at the end of their presentation. Do not be put off by this and understand that such is the nature of real estate investment clubs. Just absorb as much information as you can and learn.
As a new real estate investor or wholesaler it can be very lonely when others around you like your friends and family do not understand what it is that you are doing (or trying to do)
Learning how to wholesale or fix and flip houses can be difficult especially for newbies. By networking with other people you will meet other like minded individuals that have similar goals to you. Some of these people can become friends, business partners and JV partners.
We don’t typically advertise or disclose the title companies that we use since we have found that beginners tend to bombard the title company with phone calls. We have actually had title companies ask us not to give their information out because they don’t want beginners calling them up for lessons on wholesaling, double closings, transactional funding etc.
We do disclose our relationship in Florida with our preferred title company. I have been personally closing deals for myself and my students with Kevin Tacher at Independence Title and we co wrote a book together called “Title Insurance Tips and Secrets”. If you are a student of mine then you can access that book on the training site.
For the State of Florida only the Investor Friendly Title Company that we refer our students to is Independence Title
If you are a new investor, don’t make the mistake of paralysis analysis and trying to get all of your “ducks in a row”.
As a beginner the only thing that matters is MAKING OFFERS.
If you are our student, then we constantly drum this in to your head.
You should make at least 5 offers a day, which is 25 offers a week, or 100 offers a month. That is the MINIMUM amount you should be making. Good wholesalers make 20 offers a day. If you want to make money wholesaling then you should be making MORE than the minimum offers. If you are not making any offers then the amount of money you are making is ZERO.
When you constantly make offers, you will start getting your offers accepted. At that point when you sell the property you will need a title company.
If you are a student in our Partnership Program we will help you through the entire process and walk you through the process from A to Z.
