FAQ: Answers To The Most Asked Questions - Start Here

I have not been able to put Dean's book 'Profit From Real Estate Right Now' down, for two weeks! I'm focusing on FSBO/ contract Assignments. My goal this week is to offer my service to motivated sellers. I got the book in the mail about 4 wks ago. I looked at it and said 'man I wasted my money again - more ads - more marketing stuff.' Well 2 wks later while cleaning I thought about the book and I needless to say I haven't been able to it down!!! I've started a buyers lists, I'm chosing a real estate agent -in fact I'm meeting my 2nd one tomorrow. My goal is to meet with a motivated seller and offer the assignment contract. I rearing and ready to go. Once I get the assignnments down I'll be ready for foreclosures, etc.

I just wanted to introduce myself. I'm out of Sacramento, CA.

Kim D.
donedeal50i@****

Hi All!

I am scared to death but I'm going to do this. I AM NOT PUTING IT OFF ANY MORE!! I've been checking out a couple of areas that I'd like to invest in and I'm currently working on building a buyers list. I'm also looking to find a realtor to work with to help me but that has not been easy. Is there a checklist that I can use to screen would be realtors or is it a personality thing? I was wondring if there is a way to check them out without wasting my time or theirs.

Thanks for your comments and your time

Dee

I would like some suggestions on finding local investors that want to buy the properties I find. I'm in So Cal/ North Orange County California.

-Thanks

David Thillman
DavidThillman@sbcglobal.net
Ph# 714-650-0058

I want to take advantage of Deans success. And all of his students. I just don't know where to start . I have had his course for about a year and have not done a thing. I just got laid off from a 32 year position and want to start a new life just need a big old nudge and guidance.

There are sooo many ways in real estate to make money.. Basically , pick one or two and make the journey.. You'll be glad you did !!

Randy

Anyone interested in Luxury properties?
Not sure exactly where to post this!

TWO TEXAS LUXURY PROPERTIES AVAILABLE AT MAJOR DISCOUNT!

Property 1:
The taxes on 12069 is $4,200.00 for the year it has 14 rooms 5 Bedrooms(First Floor Guest), 4.5 Baths, Gourmet Kitchen, Butlery,Great Room with Beams, Study, Game Room, Media Room with Stepped Seating, Stone and Brink Elevations with Composition Roof, Front Courtyard with Fireplace, Loggia, 3-Car Garage.
ARV: $1,175,000.00 RETAIL value
Repairs: $0 NONE, it's brand new
SELL: $880,000.00
EQUITY: $295,000.00

Property 2:

The taxes on 12077 is 5k for the year ...... it has 19 rooms (5 Bedrooms (First Floor Guest), 4.5 Bath, Professional Kitchen with Beams, Butlery, Formal Dining Room, Wet Bar, Wine Closet, Family Room, Study with Firs place, Game Room, media with Wet Bar, Claystone Elevations with Composition Roof, Front Courtyard, Outdoor Living with Grill, Porte-cochere, 3-Car garage)
ARV: $1,365,000 RETAIL value
Repairs: none ,it's brand new
SELL: $ 925,000
EQUITY: $ 440,000

Troy
tc1mktr@****

What is the best formate {structure a letter} when making an offer to a bank?Thanks for the help

What is the best formate {structure a letter} when making an offer to a bank?Thanks for the help

I want to be a millionaire too! My credit is high 700's yet I cannot even get to bank representatives for pending foreclosures listed in a local business journal. Specifically, I am looking for properties in Westchester County, NY and there are plenty!

Hi All,

I have just finished Dean's book and loved it. I am excited to get things started so I wount have to worry about my family paying the bills anymore. I drove around yesterday and found a lot of homes for sale that looked promissing; some FSBO and vacant, some vacant rentals and some others that could be ok. What is the next step. I am kinda stumped. My wife is very skeptical about this whole thing. I want to show her that I can do it. Is there anyone that is willing to help me get started?

Thanks, in advance!
Michael Reynolds

Hi DG family! So here's the situation, I started submitting offers on REO properties. A lot of the responses have been: we can submit the offer to the bank as long as you have a bank statement with the funds you offered on the property. So that's the problem, I don,t have the money for the properties, so my question is what the proper way around this? But the simple fact is I don't have a bank statement with thousands of dollars, However I do have buyers list of people that are willing to pay cash, so it's not like im completely oblivious. What should I do?
p.s. i was planning on doing assignment deals on these REO properties

Hi Michael! well im no professional at this, but what you should do first is build a buyers list. In other words find people who want to buy houses. Find out their criteria for example: when they want to buy, location, what kind of property their interested in, year of house, how much their willing to pay for the property, etc. Then you should go out and find the properties for your buyers. I hope this can help you with starting out, i would give you more information but im new at this as well, and would have to charge you, just kidding. good luck!

I had question about assigning a property to a cash buyer, in the book it says that when the property is bank owned is a little harder to assig the property, I was wondering why this was and what are the steps that I need to take in order for this transaction to go go smoothly?.

The AFF system looks very thorough. Looking for opinions/advice from anyone using this system.Do you find it helpful? Thanks!

Hello, I am BRAND NEW and just got done reading Deans book and am SOOOOO freaking motivated right now I can barely sit still!! I do have a question for you as I have seen your posts on here quite a bit.

Are there road blocks to working properties that are already being listed with a realtor? I have seen quite a few properties in my area of Bradenton/Sarasota Florida that seem to be really good deals that I could possibly talk down but most are listed with an agent. Am I going to have issues with any properties that are listed with an agent?? THANKS!!!

Is any help here really free?

I just finished deans book and am so motivated I can hardly contain myself. I have already been searching for properties and have a question. Many of the properties I am finding that seem to be well below FMV and which I will offer at even lower are listed with real estate agents..am I going to run into any specific problems working houses that are listed under a realtor?? THANKS!!!

Hi my name is Cheryl, I got Dean's book and read it through once, and am in the process of reading it again. I have no experience in real estate investing, but have always been interested in it. I am currently unemployed, have no money, and bad credit. In Dean's book he gives two different strategies for my situation, the IEE,and the Assignment strategies.I am considering going with the Assignment strategy first, but there are some points I do not understand. Such as using an attorney to see the deal through, when does the attorney have to be paid to handle this ,is it in the beginning are at the closing, how does that work?, and when do I order the professional inspection, and at what point in the process do I get the money from the seller to do so? Any help with these questions would be greatly appreciated, once I am able to get the tuition, I hope to be able to join Dean's Real Estate Success Academy. Thanks in advance for any help with these questions.

ereee

Hi,

There is another forum you should go to that specifically deals with questions dealing with the AFF system. You will probably have better luck in that forum. Can't think of the name of the forum, but click on the forums link and review to find the one you are looking for. I know it is near the bottom of the list.

Any "mentors" in the North Idaho/Eastern Washington ( Coeur d Alene/Spokane)areas?Would love to make contact.

Johnnie,

When submitting an offer to the bank on a property you can use what's called Transactional Funding. These companies will also give you a proof of funds to submit with your offers. Search your area for Transactional Funding companies. They are all over the place now with the market full of REOs and Foreclosures.

There is no doubt that You are going to face issues with properties listed with agents. Knowing how to go around these issues is key if you are going to make money with these properties. Don't be afraid of the agent, just stay in control. Make an offer, and then use Matt's IEE system that is discussed in Dean's Book "Profit from Real Estate Right Now!" or do a double closing on the property. In a double closing you use a transactional funding company to do a double closing on the property. They fund the first closing (you and the seller) then you must close with the buyer the same day to close the second transaction (the buyer and you) The second closing repays the funding company and you get your check for your assignment.

Check your area for transactional funding companies if you are going to go this route.

Anita, I have found a house that is scheduled to go into foreclosure on 11-24-09 and I have asked the bank to hold off until I can close on the loan. I have gotten the loan but will have to wait on appraisal to get full approval of loan amount. Bank says to pay them $1200 and they will delay closing for one month. I am not sure if everything will be completed before then. My question is will a purchase agreement with the owner for more than payoff delay or stop the foreclosure process?

Thanks, Tim

hi i wanted to know when working with an agent how they will get paid also if the seller has a agent how would they get paid?thanks for your time

hey I live in southern california and I am 20yrs old still trying to ffind my first deal wit no money down,a realtor, and a broker wit huge debt and horrible credit. I have read dean's first book and i feel like I can my dreams come true along with sharing my ideas with other. i dont know how i would advertise or let people know that i am a real estate investor of course through word of mouth but I need the right people that now what they're doing and with they're hands on experience I know success is along the way. Dean or whoever can help me give me some advise or establish partnership with me.

Hi! im basically in the same boat as you except im 19. Well i am by no means a professional, but I know what you should do first is build a buyers list. Find as many people that want to buy a house, investors and so forth. Find out their criteria that they want (year built, square footage, number of rooms location etc. next go out and explore, that way you know what to go out and look for as well as who you want to assign your contract over to. hopefully this will help you out a little. good luck!

THANK YOU SOOO MUCH!!! that will definitely help me out

Hello out there,can any one here me.am in the same boat that MISS Robbie Keith is in except I have a paddle to use ounce I get this boat to sail.I have no money credits bad,am a general contractor and I do remodeling and renovation work,my gaol is to find fixer uppers to sale or for income property if any one can help me a long that line,our have some property's that I can help you with that would be great lets keep up the good work as people helping people thank and I wise us all will.Ralph Bellamy. (P.S am in the San Diego California area which is my base area)

Hello out there,can any one here me.am in the same boat that MISS Robbie Keith is in except I have a paddle to use ounce I get this boat to sail.I have no money credits bad,am a general contractor and I do remodeling and renovation work,my gaol is to find fixer uppers to sale or for income property if any one can help me a long that line,our have some property's that I can help you with that would be great lets keep up the good work as people helping people thank and I wise us all will.Ralph Bellamy.(P.S am in San Diego californea which is my base area)