FAQ: Answers To The Most Asked Questions - Start Here

Is there another site where you get your questions answered? Or do you just wait it out?

i mean i joined a real estate academy, they provided classes 1 day a week i would talk to my coach. But I am a fire and security technician, my schedule is always crazy, and that my only source of income. I mean i do believem in God. But I mean I feel I would be a great success if i go through the books and the classes. But I don't have any time. I mean I am always asking myself, what would happen, if i just quit tomorrow and start doing the real estate the same day. I mean how does the other members of this group do it. Please give me some advice. thank you

I have a small hill to climb over, go under, around or through. I explained this concept, actually the assignment of contract, to the realtor that I was interviewing today. He said that, in Iowa, doing this would make me a realtor and in Iowa, I would have to be licensed as a realtor to do this.

I hope that I am missing something but it seems so straight forward. The realtor said that if we profit off of a real estate deal, other than selling our own property, that we are acting illegally as a realtor by Iowa law.

We will listen to the conference call referenced above but we just wanted to see if anyone has any input into this issue.

Thank you all!!

Denny & Gina

DG Family,
Could someone pm me, please, and point me in the right direction on how to start my blog(like the ones listed in guest blogs)and also how to start a group. I would like to start a South Central Texas(Houston to Corpis Christi) Rei group. I'm not being lazy(this time) I have looked and I can't seem to figure it out.

Scott

-One Step Closer

hi, i am only thirteen, but i am very intersted in real estate. i woke up at
4:30 a week ago and saw your infomercial. it inspired me to come to your website and learn how to succsesfully do this and when the right age is. i would appreciate any help you can give me, thanks.

Sincerly,
Wayne Augustine

I just have a question about locking up on a house under contract and reselling to investors. I really am trying to understand it more. Is this possible? And if it is how does this work?

I think you should buy property. The reason being that a car is a liability meaning it isn't putting any money in your pocket, in fact it'staking it out, i.e. gas, maintenance, etc... Also as we all know that car was worth thousands less the minute you drove it off the lot. Now with investment property, as long as you buy right, you will only put money in your pocket in the form of a monthly cash flow, or a lump sum after selling it and you can depreciate it on your taxes. The property will also most likely appreciate over time, a car does exactly the opposite. You can also use the money from a monthly cash flow to finance a new car, now you have someone paying your mortgage, taxes, insurance and a car note for you. Of you can use some of the money you make from the lump sum to buy a new car, depending on what you want. Hope this helps.

You should buy property. The reason being that a car is a liability meaning it isn't putting any money in your pocket, in fact it's taking it out, i.e. gas, maintenance, etc... Also as we all know that car was worth thousands less the minute you drove it off the lot. Now with investment property, as long as you buy right, you will only put money in your pocket in the form of a monthly cash flow, or a lump sum after selling it and you can depreciate it on your taxes. The property will also most likely appreciate over time, a car does exactly the opposite. You can also use the money from a monthly cash flow to finance a new car, now you have someone paying your mortgage, taxes, insurance and a car note for you. Of you can use some of the money you make from the lump sum to buy a new car, depending on what you want. Hope this helps.

I am very new here. So new I haven't even got the books in the mail yet. I am very impressed with every one's positive comments on here and "can do" attitude. I haven't done a deal yet (am so excited to get the first deal under my belt but also not in a hurry) and still waiting on books.

I heard Dean's video blog from the 28th and thought made a lot of sense. I will always be trying to beat my goal dates of course but think if I start out with very reasonable time expectations I won't get easily discouraged.

I look forward to getting to know every one here and will be excited to share my progress with every one as I progress. Also, very impressed with the guy that put his letter up on here. I need to write and mail my own too!

I hope every one has a great 2010!!!

DG Family,
Could someone pm me, please, and point me in the right direction on how to start my blog(like the ones listed in guest blogs)and also how to start a group. I would like to start a South Central Texas(Houston to Corpis Christi) Rei group. I'm not being lazy(this time) I have looked and I can't seem to figure it out.

Scott

-One Step Closer

Does ARV stand for actual real estate value or am i close, not quite sure.
thanks for explaining it in advance. James

First of all I would like to say hello and happy new year to all, my name is James and I have some questions. I would like to know if there is anybody in MI, mostly in the Muskegon,MI area that can help me out. I am new to the real estate investment. I have posted some questions already and found answers to one of them but the other questions I have is this: does the State of Michigan allow a finders fee or where do I look to find the answer on "finders fee" for Michigan?. My other ? is would I be better off going through a real estate agent in my area?, I have read both books(BARM & PFRN)but don't quite understand how to read the market yet. Any suggestions are greatly appreciated,thanks in advance.

James,
ARV = After Repair Value

Glossary of terms: http://www.deangraziosi.com/node/3208

Scott

good luck

I've found a FSBO that is a rehabber's dream. Since I don't have a real estate agent that is helping me with the process, I'll be going through a Real Estate Attorney. I'm wondering does the seller pay the attorney fees for her helping us with the contract to make an offer and also the purchase and sale agreement? I know the seller pays for the closing costs. Also I need from someone who's closed on a FSBO before, as much as advice that you can give me!!!!!! Thank YOU

Thank you so much for sharing this priceless information/knowledge. It'll help me. Happy New year 2010 and GOD BLESS ALL!!!! Gurdeep

I recently made a cash offer on a REO property in my area. My offer was rejected do to the fact that my proof of funds letter was from a transactional funding source. I have a end buyer for this purchase, but now my realtor is telling me that I have to show a bank statement showing that I have the cash. I don't want to loose this deal since it's my first deal.

How do you find out if there's 30-50% equity in a home?

I have been reading through Dean's book for the second time and still taking notes and learning. One question I've had in my mind that I did not find info on is this.....If a seller already has a real estate agent or realtor trying to sell their house does that mean I would not have the right to get involved with the seller as far as trying to get a contract and doing an assignment or IEE deal?

do anyone know of a good hard money lender in the philadelphia pa area?

Ok! If I buy a condo in San Diego, California how long do I have to own the property for if I want to resell it?

Is it better to invest in hawaii or california?

Hi,

Im 22 years as well and I just finished reading the book...It was great! But I really dont know where to start? At first I was skeptic but I have been thinking about real estate since forever since I kind of know how the business works because my mom is a real estate herself back in Panama but it is different here..

Anyways I have a 730 credit and I have 5,000 dollars cash but should I buy a foreclosure property first and then resell it...like this i would probably gain some confidence in the market as well as contacts..

I live in hawaii at the moment my husband is in the military but we are originally from san diego were I think it will be better to invest since the market has gone really low down there compared to hawaii...

PLEASE SOME FEEDBACK!! i WOULD REALLY APPRECIATE IT!

Greetings to all. I hope everyone had a wonderful Christmas and brought in the New Year with a positive mindframe. I tell ya if America would support one another like everyone does on here, I believe that problems like recession would never take place. Thank you to everyone for the tools, support, wisdom, and inspiration that you continually give to me and so many others. I am so blessed to have come across all of you. Let's bring in the new year knowing that we can do all things through Jesus Christ who strengthens us!

"Nobody can stop you from making the impossible possible except you."

Hi folks!
I've been reading Dean's new book Profit From Real Estate RIGHT NOW.
In the book Deane mention something about a website of our own that we could go get and set up for our own use.

Where should we go to get that?

Hello there.

In the last 2 weeks we read the Dean’s book (Be a real estate millionaire) and big dreams and possibilities started growing inside of us again.

Then:
1- we signed up for the 14 day free trial on the 4closurealert.com, but to be truthful we don’t know how to distinguish the good from the bad information on the site. Any help will be appreciated

2 - We called the number on the web site to ask questions and on the call we ended up being interviewed by Mr. Brandon who kindly suggested the success academy for us.

Well so far so good and here are two questions:

A- We have 2 kids in college and no extra money period! But I have very good credit,
And after reading Dean’s book we realized this: why not find a lease to buy opportunity instead of rent?

Other then Craigslist, can someone with experience and knowledge give us any suggestions and tips to find a good deal and the best way to negotiate , make a offer…etc.( we prefer NJ or NY )

B - Since we don’t have cash, we are trying to start creating a list of potential buyers so this way we can start making some money.

Does anybody with a lot of experience have any suggestions? Are we on the right track?

Thanks in advance. Any suggestion is appreciated by us

Iran Dacosta

Dacosta, You might want to find a Realtor that can help you find a property that is available on lease purchase. Also another good avenue to try is to find someone that is struggling to make their mortgage payments (preforeclosure) they may be willing to negotiate a lease purchase but you would have to catch them up on their mortgage payments and I know you said that money is tight.

Just a few suggestion...

Thank you Carol.
I did not think about the Realtor but, I will definitely check it out.
I do not have a credit card, maybe it is worth it to apply in order to get the money for a possible preforeclosure mortgade payment.

Thanks again.

Iran DaCosta

Good day...
I have a two part question here.
First I do spend alot of time in the south and love it.
I live in Toronto which is a very strong marked and we have not had the same problems as some cities in the u.s. (not many deals)

Buying the book is the easy part, I just like to know if a few thing before putting in the time.

Living here in Canada does your ideas or formulas work with our more stern banking and real estate laws ?

As a Canadian am i able to practice your formulas in the U.S. ? And if yes what do I need to do if anything different ?

Thank you
Chris

By joining Deans site will I always be able to come here for advice or does it expire?

Lance

I've spoke to Rina about earnest money and assignments.She filled me in real good thank you Rina. Said there is a chance that I can loose it if buyer backs out and I cant prove of financial denial to buyer but was wondering in Deans book there is a way to assign and have buyer pay earnest at closing. Has anyone done this?

Lance