FAQ: Answers To The Most Asked Questions - Start Here

Hi DG Family - I came across a good deal, owner is anxious, all went well between us UTILL THE ATTORNEY AND DOUBLE TALK. Owner would like to close on or before April 1st 2010 - The owner had their attorney to write up a contract after I have submitted mine (DG Contract Agreement)with the words "AND/OR ASSIGNEE". Now the new contract from the attorney almost sounds like he is trying to squash the deal. If I do not find an CONNECTICUT INVESTOR soon I will walk away from this deal. ANY CONNECTICUT INVESTORS READING THIS PLEASE "PM" ME.

Any CONNECTICUT INVESTORS???????

Anitarny,

I'm trying to get started but dont know where to start. My mother wants to sell her house for 20,000 and it needs alot of work done to it. It's a house she start building years ago and never finish building, and now the house has been sitting so long roof need fixing and alot more needs fixing. What do you think and how should i start this?

What city is the house located at?

hey Anita i see and hear all the things that can be done and has been done but im like stuck i just really dont know where to begin i have i also have brought both Deans books and im just dont no where to start being though i have ah recent bankrupcy and very low credit consider poor im wroking from check to check i just need ah lil nuge on where to start i also check out most of your blogs and still im stuck

I'm am brand new to this and recently just finished the book "be a real estate millionaire" so I'm feeling pretty confident and capable of pursuing my goal. Im a college student in OK, so im just trying to start somewhere. So i asked myself why not work with the finder fee approach. what i really would like to know is there a way to still "lock up" a property and find an investor to buy it.. when the property is listed (say a foreclosure) by a real estate agent?

Watch your thoughts; They become words, Watch your words; They become actions, Watch your actions; They become habits, Watch your habits; They become character, Watch your character, it becomes your destiny.

Anyone else receive two student series in the lasr DVD's for the program? I need to know the expert side on each of the series that are sent. I feel that the DVD's are very helpful and to be missing one of the series is hard to take.

J Doss
Flagstaff AZ

I posted some ads last night for buyers and got a hit from buyer because I read to create my buyers list first but not expecting to get a response over night I didn't have any properties now I believe I should have created the sellers list first. Anyway I found a great deal on a REO for this buyer. What do I do from here? Also since it's going to be a cash deal I don't think I need a broker to do a pre-qual or do I? When do I do the walk-thru with the buyer? Can somebody help me with the steps and forms I need. I would appreciate any information as soon as possible. I'm very nervous! Help.

What is a Automated Forecloser Finder? and where & how can I use it. Please help

Thanks,

William Smith

I KNOW THE DIFFERENCE BETWEEN'ASSIGNMENTS'BIRD DOG'AND FINDERS FEE. IM WONDERING WHY WOULD AN INVESTOR WOULD WANT TO DO AN ASSIGNMENT' OVER THE OTHER OPTIONS? I THOUGHT BIRD DOG OR FINDERS FEE=THE INVESTOR WOULD SAVE MORE MONEY? CAN SOME ONE PLEASE EXPLAIN THIS TO ME' A NEWBIE..THANK YOU

What is the best way to find buyers or have them come to me.
Do I need to find their criteria?
What if I don't have any properties locked up yet?

This is my first post to the site. I have recently joined and not sure Iam even doing this part right!.... my question is,if you truly are trying to start this program with no money, what is the best way to "break in" if you will??.. I find all the different ways of doing this very overwhelming but know that working without any money takes away some of these options, for those of you who began this way, what would you suggest for getting started?? thanks, Kulagirl.

Rina,

Hello I'm somewhat new and just getting started. I noticed that you mentioned on a couple of occassions that you really like REO's. It would seem to me that there is a wealth of opportunity with Banks being overloaded. We are looking to get start and don't have a lot $$ for fees, etc and are looking for a way to begin working with REO's. My question - is it possible to do assignments with REO's? and what other ways are there to work with REO deal with as little money out of pocket. Once I have a deal or two under my belt that will position us to look at more creative deals. thanks for any feedback you can provide...

Pat

Hello my name is Eulanad M.
I'm working on my first deal. I have a possible hot deal, its just that i dont know which contract to use to lock up the house under contract and assign it to someone else. And where do i get offical contracts

there is a link to assig. contracts on this site under student resources...forms and docs.

i am working on my first deal and need help on evaluating the deal.

THE OWNER IS AN HEIR TO PROPERTY(SO THERE IS A SENSE OF ATTACH.)
----------------------------------------------------------------
EST. ARV (zestiment) - 455,000

DEBT - 10,000 IN TAXES(DUE IN AUGUST) 20,000 Equity loan and 10,000 for roof due to "roofer". total debt 40,000

seller WANTS - 350,000 (room to negotiate)
---------------------------------------------------------------
TWO NUMBERS MISSING EST. REAPAIR AMOUNT & AS-IS AMOUNT

COMPS RUN FROM 320,000-350,000
WHAT IS THE NEXT STEP I DONT WANNA GO TO LOW OR TO HIGH IN ORDER TO MAKE THE DEAL WORK FOR EVERYONE(I WANT ASSIGN. THE PROP. TO AN INVESTOR)

HOW DO I COME IN AT A PRICE THAT FAIR AND IS GETTING A APPARSIAL AND INSPECTION THE NEXT STEP?

ANY SUGGUSETIONS. OR NE OTHER ?'S ON DEAL......THANX IN ADVANCE

I have a house in Houston im currently renting. I live in my hometown of Lafayette, LA now. I don't plan to move back to Houston. My current tenants want to buy my home. The Houston house market has really taking a hit the last couple of years. I owe more than it currently appraises for. My tenants credit may not be that great. I'm trying to find a creative way where they can purchase my house w/o me losing my a$$. I would continue to rent it but it is out of state & the rent doesn't cover my note & they will not rent it forever. Any suggestions would be greatly appreciated.

Anybody having problems with the Search and Enter?

Hi! I'm looking for Dean's REO tracking form. On pg 251 of his "Your Town Your Real Estate Profits" book he says that the form is available but I don't see it. I appreciate any help. Thank You So Much! : )

I found an REO property that is listed with a market price of $286K. Zillow shows the Zestimate of the property at $440K. I have a buyer willing to go as high as $400K. What is the simplest, easiest way for me to make this deal?

Hello Fellow Future Millionaires,

Was browsing through the RE ads in the LA Times recently and noticed some headlines that peaked my interest such as "Divorce Sale". The issue I have is that the phone number listed is to a RE agent. If I inquire about price the agent will provide the property listing price, correct? So in these kind of situations it would be difficult to contact the actual seller because they are already represented by an agent. Does it make sense to pursue these kind of properties?

Your help is appreciated, thank you!

Regards,

Steve Saca

anybody having problems with this or is this my computer?

I'm a little lost in the sea of information here on the website. I'm not sure where to post things, where to find things yet, who to ask for help (other than the coaches in the telephone). I would like to learn how to use this website to the fullest and maybe just a place to log my journey. Where can I do that? Or rather, where is the right place for me to do that? I see guest blogs, or my account, member journals, but how do I start..its just a little confusing. There are a lot of things I would like to keep track of so I can go back and reference what I've done as time goes by. Any suggestions?

Hmmm, Where to start? Read Dean's book(s)of course! Hard to start without that!

Click on all those things blogs/my account/journals etc. Learn by doing and ...

http://www.deangraziosi.com/real-estate-forums/everything-else/17408/sug...

hello my name is jack, I'm 19 in the state of Florida, I found 3 sellers willing to sell their house and I have investors willing to buy.. but i don't have a clue on how to put everything together, can someone please guide me or even fill in the gaps for me.... thank you in advance!

When talking to s saler what is the best question to ask? I have my buyers list ready just need to know the best way to approch it......

Dean or others. I have an investor to help me with the cost of start up with my own investing. I was wondering if you could point me in a direction to obtain a form for my start up investor. So he can feel more comfertable with helping me.
He says he doesn't need one but I would feel better if I can share something in writing with him. Any ideas?

Eric

Does anyone know how low is to low to bid when your going to bid on a REO
is there any percentage to use or just your gut

thanks for the help

I've been given advice not to state my S-Corp I'm forming is involved in real estate, property management, or any sort of business. The reason I was given by the Tax Club is that it puts my Corp in a high-risk category where developing credit is concerned.

Does anyone have any advice on how I should classify my new S-Corp on LegalZoom?? I have to pick one of several categories.

Thanks.

Mike

Hi Mike,

Thank you for this information.

How interesting! Real estate = high risk category where developing credit is concerned! I can certainly understand how RE would be seen this way given 'traditional thinking'

Can you copy and paste the categories? It will make it easier for you to help you choose!

Angela