FAQ: Answers To The Most Asked Questions - Start Here

I have a question and it is my first since reading Dean's book which I finished yesterday. I just got off the phone with a realtor who informed me that banks won't do assignment deals. Is that true or is she uninformed as the book suggests most realtors are?

I live in the Orlando, Fl. area and I have come across deals that are up to 70% below FMV according to the "zestimates" on Zillow. The deals are listed with another broker who lists nothing but reo's and these are the asking prices the banks want. Do I still have room to make an offer even though they are already 60-70% below FMV. The broker said they wouldn't budge on list price. If that is the case, why would they take offers?

I don't have any credit and I recently was laid off so I have no job (Just Over Broke)either. What I do have is the drive and desire to succeed no matter what. I am ready to go forth and prosper and will never again work for anyone else but me, myself and I.

Any help would be greatly appreciated and I look forward to helping others succeed in the future, as I am a giver, just as I feel everyone here is as well!

Sincerely,
Javier Martinez

Hi, the Realty Team representing a certain REO is very hesitant to move forward even with my cash buyer! I told one of them I'd take title, as opposed to buyer-financing (or is it seller financing? I'm confused).

Anyway, he seemed to breathe a sigh of relief; said he'd get back to me, and hasn't called (that was at 6 p.m. Friday). It's almost 24 hours later.

It seems in the state of Kansas, the sellers are running for cover when they find out I'm not a licensed Realtor.

So is a particular title company. When I explained to the gentleman at the title company everything was above board, he began to come out of his shell a little and trust a tiny bit more.

Bottom line, I could use some encouragement and direction.

Has anyone faced this?

Any suggestions to put the sellers at ease?

Thanks!

Cynthia N.

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I have found a forclosure,but realtor says there is no title. Can someone tell me how to proceed. Thanks John

Hey Franco Blackburn.
My name is Matt and i am looking to relocate to Madison County in a few months. I have thought about buying an apartment complex in Madison and renting the other units for the mortgage payment but i have also looked at a few of the older duplexes in the historical area of Huntsville. What do you think the best option would be. I heard that the historical area was going through a complete rehab so that could mean a bigger profit in the future.

Another thing i have looked through the home books there and found quite a few houses in the surrounding area that are being sold "as is". Would these be a good choice to invest in or should i stay away. Most just look like they need to be cleaned up.

Thanks alot
Matt

ive had some experience at buying forclosures.. it is definately a great way to make money but when you do your analysis of a property be sure to realize that if you intend to "flip" the house there may be a capital gains tax involved in the "flip" sale.

I am just starting out and I need a little advise on what's another way to find a Mortgage broker other than the website Dean provides in his book? I'm not having any luck getting a response from any and I need to know is there another site where I can find brokers. Thank you.

Sophia E.

What is the best strategy to use when looking at homes sold "as is"? And i am a little confused about the redemption period of these. I understand the redemption period of tax sales but what is the deal with these? I find a lot of homes sold "as is", some dont have the redemption period and some do. What is the difference and are they worth looking into?

Hi guys,
Well, we have our real estate agent,real estate attorney,friendly banker,and CPA all lined up and have been looking at properties. We plan on using Greg Murphy's technique for lease options to buy and sell properties.
We have located some mortgage brokers in the area and want to call them to see how they can help us with assisting buyers get qualified to buy houses we have on lease option.
What questions should we be asking the mortgage brokers in order to know if they can help us?
Thank you !
Merlyn & Jean

WHERE CAN I FIND A BASIC CREDIT APPLICATION - I HAVE A GHOST INVESTOR HELPING ME GET BUYERS WITH LOW CREDIT SCORES.

HELLO EVERYONE IN THE DG FAMILY. I HAVE AN INTREST IN A HOUSE IN A VERYGOOD NEIGHBORHOOD. IT IS A 3/1 WITH FULL BASEMENT AND NICE YARD. IT IS ZILLOWED AT $87,000 AND IS A REO, BUT LISTED UNDER THE MLS FOR $39,000. IT NEEDS AT LEAST $10,000 WORTH OF WORK. I AM WONDERING IF THERE IS ANOTHER WAY TO PICK UP THIS DEAL GOING THROUGH A REALETOR OTHER THAN THE TYPICAL 20% DOWN. I CAN DO THE 20% DOWN AND GET A MORTGAGE ON REMAINING, BUT I AM ALWAYS OPEN TO OTHER CONCEPTS WITH NOW MONEY DOWN. THANKS, JACOB

when i find a property and want to sell it to an Investor, what exactly do i need to take to them. would i need to take them a property analysis, market sales analysis or the N.O.I, so on and so on.if so is ther a site on here that can help me to do all the above forms.

CAN SOMEONE HELP. Thanks
Cottrelle.

Ok so I am a newbie trying to get started on my own. I went to the court house yesterday and researched names and adresses of investors. Now I would like to know how to put the right words in a letter to send to them and find out if they are interested in working with me. Or if it is in the book let me know what page. i can not seem to find what i am looking for. Please help me. I was also wondering who I talk to at the court house to find out where i can put up bandit signs. If anyone can give me some advice i would appreciate it so very much.

Lisa

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Can anyone give me any suggestions. I have visited the sites listed in the book, but they are for homes only. I have also tried the County assessors office and they weren't any help either.

Thanks, Debbie

Hello Everyone,

I am trying to figure out what FMV is on a apartment complex i am interested in.

I am having no luck finding, I have tried the county assessors office and they were no help

Any suggestions.

Thanks, Debbie

Hello All,

I am in need of some help. I am trying to figure out the FMV on a Apartment complex.

I have tried the sites listed in the book, but they are for houses only. I have also tried the county assessors office. Can anyone give me any suggestions.

Thanks for your time,

Debbie

How to go about finding the FMV on a Commerical property?

Thanks, Debbie

Where can I post a question? It doesn't let me here. Is there a certain place to go?

Thanks, Debbie

I have a small country store in Mo.(sole Proprietor) I am used to keeping my own records and know what is required for taxes and I know what paperwork is needed. I have started an LLC for my realestate investing business.(about 3 weeks ago) I know how important all the paperwork is. I will be buying, selling, and renting realestate. I have been all over the net trying to find exactly what I need to keep records, do the minutes and everything else needed to keep the bookwork for the LLC. Any suggestions?

If i'm making an offer for the first time as investor, do i need a license? If i do, what kind of license do i need? What is the use of LLC and how do i get it? Please help?

Baria

I have been asking around for information on agreement to lease with option to purchase contract from attorey here in Texas, and everone is saying it's illigal to do lease with option to buy and they are say you cant do them here in texas. Texas realestate law do not allow you to do lease with purchase. I would like to do what Greg murphy is doing so well at, but know one here seem to know anyone that can tell me the way around the crazy laws here in texas. If some one can tell me a little more about "subject to" as well.If anyone knows a real attorney that know how to work with creative investors let me know. Thanks

I'm a new student myself but it hasn't worked out the way i expected it. You have to spend a lot of time studying, studying and studying. You won't even have time to go out and look for properties. I'm learning more by asking questions here and reading some of the answers. I wish i hadn't done it. I still love Dean's book though. I would recommend you to get Dean's all books and read them over and over. You may also need to sign up on the website www.4closurealert.com to find new properties in your area. Other than that, Dean has covered everything on his books. If you have any question, feel free to ask me. I will tell you like it is.
Good luck.
Baria

I am fairly new on this site and watched deans interview with jeff where he mentioned his list that he posted on this site. How do I find it???

We are new getting our feet wet in investing again. Here is something we have been doing that has giving me more buyer then i could have imagine. We first place a ad saying ( $47,000 rehab/cash special deal want last) We received 6 cash buyer contacting us. I took down there info and told them that I have to get with my partner to see if he may have take a offer. We ran another ad which said (FSBO ) $141,000 4bd/3Ba owner will finance with small down payment. This created 25 leads for end user/owner finance buyers. Get with some investment groups that will give you a finder fee also. If you join a REIT group make sure you ask them up front what are they paying you if you can bring them a buyer/seller. This is how we do it too earn $$$ on 120 leads so far in 3 weeks. We run 10 diffrent ad all day long with description but the same message. This ad reads ($104,000 3bd / 2ba we will help with finance. we also add our phone no. We dont add any more detail on our add so they will call us. Once they call us we work with the other investor to take down there phone number and then we send them to there web-site and we follow up with our referral our self.I also drive around looking for property to put on my list of home to research and then call buyer to see if he would be interested in selling. These property are for assinment purpose only. Here is something you need to know. Most of those call that come in are going to be rehaber with cash to buy and want anything that can earn 25k to 30k after repair. They will tell you how much cash they can spend on any property you offer so keep it professional and good luck. I am face with a diffrent problem here in texas with how to draw up a lease option to purchase contract,as it is illeagal to do here.I would like to keep some of those deal i am giving away for now. With income tax time we are getting hammered with calls and people are ready to buy homes like kid wanting candy. Dont make your ad look like a realtor or sorry to say like a investor. Keep it simple thay is what i think is working. I Now get note buyer sending me info to give to cash and call from investor with unlimited funds if I bring them Deals. I wish I could send you to our ad but it may not be within the rule for advertisement rules on the DG site so Good luck averyone.

i don't have very good credit; and very little money on hand; but i want to buy a house to rent out. i have been doing research and have found plenty of houses in my state that are currently rented out but the owners are out of state and want to sell; the thing is alot of the homes are under $25000 but it is under the minimum amount for a mortgage and i do not havve the money for a cash sale; what can i do.

What is the requirements and interests of hard cash loan. How does it work?

Baria

I meet a hard money leander at one of the REIT meeting which charge 13% & 2.9 points with 7month terms or 12 month term. That should give you a ideal.

I meet a hard money leander at one of the REIT meeting which charge 13% & 2.9 points with 7month terms or 12 month term. That should give you a ideal.

I meet a hard money leander at one of the REIT meeting which charge 13% & 2.9 points with 7month terms or 12 month term. That should give you a ideal.