FAQ: Answers To The Most Asked Questions - Start Here

I think I am up against a tall task here. I want to take advantage of the tax credit so I asked my landlord if he would sell the house I currently rent from him. He said ok, we agreed in $70.000. However I have bad credit (599)because the IRS has a lien on my wages until next month ( I paid almost all the owed tax off already). I do owe more, about $20.000 and buying this house would cut $7.000 off my debt plus I would get a home. I really need this deal. I offered no money down buying the on the contract but the owner said no naturally. He really does not want to finance this for me. He has about 60 homes in the are and want to buy more because we are in the upcycle and he can make a ton of money now so he would only sell the home if I paid for it. Any ideas? I really need this deal! THANKS

What exactly is a ghost ad and how is it worded?

After I paid over $2000 for the succcess academy, I haven't recieved an email or update in over 3 months from deangraziosi.com It's like I've just been cut off.

Wonder why??
Debbie Harrison
St Augustine, FL

Can someone PLEASE fill me in about "ghost ads"?

How are they worded ,etc.

We purchased the Prop Stream software and are literally overwhelmed with the information and what to do with it. Any guidance at this point is appreciated.

We've been to two different seminars so far and aren't quite certain the steps or what's a good enough deal to work for us. We are not able at this time to do any of the advanced traingings available and plan to use the profits from our first transaction to at least be able to access help online and over the phone. Until then we're just kind of floundering without direction.

So far we have put ads in the papers, created a web site, ordered the signs to put out, had Business Cards made, made contact with a Mortgage broker to help in our plans as well as sent out the Realtor letter seeking an agent to represent us when needed. We've only had one Realtor and one Mortgage Broker respond and coincidently, they're the two I would have like to work with.

We're currently putting in ads to create buyers lists, sellers lists, and hard money lenders. Now we could really use a little more help to get there and then look out!

Rick & Peggy

1) If you a buyer a mortgage, can they go to a bank and put that on a forclosed house???

2) I found a buyer but I don't have a realtor or a mortgage co./broker, what do I do???

hi, im denise, can you tell me what did your ad say on craigslist.for assignments, which you may have already figured out, go to page 151-168 AND PAGE 260 in PROFIT FROM REAL ESTATE RIGHT NOW. it will tell you specifically what contract you need. also you have to put the statement on the assignment agreement "and/or assignment".this agreement is generic. all of the forms can be downloaded from the website.By the way i am a newbie. great job, congraulation on finding buyers.don't forget its dood to have a lawyer for this type of deal.

i purchased some board to make bandit signs to attract buyers my question now is what do i do since i have no property to offer to sell them.when all i really want is investor in my data base so when i do get property. what do i tell them when they start calling?

I recently purchased the book whilst in USA and would like to know if there is anyone with experience in the South African Market?

Some of the ideas are definitely transferable but our resources are limited as far as accessability of information on the internet

Thanks

Hello fellow investors,

I am halfway through the "Profit from Real Estate" book, and am investigating foreclosure listings. During my research I came across some articles about banks holding foreclosed mortgages to avoid flooding the market and driving prices further down. Here's a quote from one source:

"The situation is in such a critical state that a moratorium was implemented on foreclosures in an attempt to slow the onslaught of foreclosed properties. It is estimated that 1.5 million foreclosed homes are expected to end up as REOs or bank owned real estate this year. Industry sources have disclosed that banks nationwide have hundreds of thousands of foreclosed homes in their inventory that have not been listed for sale or resold called “Shadow Inventory“. "

Does anyone have an understanding about what is going on?

Thanks for your guidance,

Maggie

I was very excited to hear about the several reserved seats only seminars you and your team conducted within the New York area from April 14 to April 16. You were also giving those who attended your exclusive seminars a free information packed DVD. Once I seen the commercial I thought about what a blessing you truly are, actual you are HEAVEN SENT. Attending your seminar was one of my biggest dreams I had to finally get the direct insight I needed to make my real estate journey come true. I was ready to reserve my seat and take the ride of a lifetime you give to so many of your students. The only problem was that the seminars were scheduled for 12:30 PM and 6:00 PM. I am a family man that works during those hours monday through friday every week. I was extremely upset and heartbroken that I couldn't attend any of your seminars. If at all possible I am sure there are other individuals that are in the same situation as I am who would have LOVED to attend your seminars of a lifetime. I missed out on a WORLD OF KNOWLEDGE AND INFORMATION that I so desperately need to make my dreams of making millions in real estate come true for me and my family. Dean, I am asking you to one day if you ever consider possibly having your free seminars again to have weekend schedule opportunities for students like myself. I am a student who is truly dedicated to everything you have written and stated, but I need your help. The help that I need only You and your Team can provide it and I will not succeed without it. Dean you say that you care about your students all the time, please remember that I am a student as well. Thank you for all your assistance and for just listening to me as well. Your friend, and student Shabay Izquierdo.

I keep hearing about investors who make 20-30 offers on REO properties every week - they don't even go and look at them, they just make really low offers. What I'd like to know is, how do they know how much to offer without going and looking at the house and seeing what it needs. Is there anyone out there doing this sort of thing - I'd love some tips on how you go about deciding how much to offer without seeing the house. It seems to me that the end buyer would want as much information as possible about the house - or is that taken care of during the inspection period of the contract?
Thanks for the help!

I am very interested in investing in the DFW Texas area but dont have any experience, or mentors who have successfully done it before. I am 24 and eager to start investing. I Spoke with a real estate agent and he suggested that the fourclosure maket would be the best route to go! I have looked at about 20 homes all around the same price range but with no experince its hard to determine which would be the best investment. I have good enough credit that I can get a loan with 20% down. That would only allow me to do minor renovations. I would love to know if there are any people who have actually started investing with out any hard money? Please if you could help out with any info or if anyone wants to network with me that would be grately appreciated. Thanks

Hi, I have the same thing going with another company. That is why I am trying Deans stuff. I have bought one of his books and I like it. I will keep looking for your posts to see if thing change for you. Good Luck

Hey Anita, I just read your comment with great interest, you see I am new to the real estate investment scene, but, one thing I have going for me is that I come from a building back ground so I am able to do any repairs or remodelling myself that save money, time and I know it will be done properly.
Looking for any support I can muster while I get up and running.

Thank you.

i am very new i read deans books ready to get started but to find investment grups/clubs in new york or a mentor anyone who can help

does anyone know about the laws on dean's property search for FSBO? ours in ca. states- " no 3rd party requests -subject to $1000 fine"

andrew

Greetings,
I know of a house in my town that is a couple of blocks down from me.I actually work with this person and could probably get information from the seller. It has recently been remodeled on the outside. I dont want to let this one slip by and I just started received Deans' books and logged on to this site today.

Ok here's a question(s) there's this huge beautiful beach front property about 12,500+ square feet. Im interested in taking this property off the owners hand BUT, it has a underlining mortgage of $650K and liens of about $200K. Less than a year this property was appraised at $1.5M. How would you go about trying to acquire this property or should I let it go because of the huge liens? any suggestions would be much appreciated. Thank you very much...

Miss Aloha

I know for a fact that Lease with Purchase Option is legal in Texas. This how I bought my first house. Also I read somewhere in this posts that Assignment of Contract is ilegal here in Texas. =) Do not know fer sure.

We purchased the Prop Stream software and are literally overwhelmed with the information and what to do with it. Any guidance at this point is appreciated.

We've been to two different seminars so far and aren't quite certain the steps or what's a good enough deal to work for us. We are not able at this time to do any of the advanced traingings available and plan to use the profits from our first transaction to at least be able to access help online and over the phone. Until then we're just kind of floundering without direction.

So far we have put ads in the papers, created a web site, ordered the signs to put out, had Business Cards made, made contact with a Mortgage broker to help in our plans as well as sent out the Realtor letter seeking an agent to represent us when needed. We've only had one Realtor and one Mortgage Broker respond and coincidently, they're the two I would have like to work with.

We're currently putting in ads to create buyers lists, sellers lists, and hard money lenders. Now we could really use a little more help to get there and then look out!

Rick & Peggy

lets say i have someone who wants to get out of thier mortgage and i have a buyer ready to step in and take over the payement. since it is an existing mortgage can the new buyer legally take over the mortgage? what forms if legal do i need to arrange this and if they decide they want to later buy, how do i make money?

Hey All, Jonathan here,

I am a Newbee to Dean's System and haven't even purchased a single book yet. However, I have signed up in this web site and have been getting the MOST out of it that I can for the last 4 days since I am headed for one of Dean's "Profit from Real Estate Right Now" seminars this afternoon!!!
( I am very excited!!!)

My main Question to any students currently in Dean's Academy is this:

"If you had the opportunity to start from 'Day One' again (knowing what you know now); What would you have done differently, or, What might you have had previously set-up -- in order to get a 'leg-up' on all of the other Investors that are in a similar starting position?"

Anxious to hear your replies, and Excited to join you in FINANCIAL FREEDOM!!!

I'm renting because I made sure the owner was interested in selling the house to me. The fact are: FMV is approx. $175K - $180K, can buy for about 140K, (current comparible is only about $120K), I can't get conventional loan due to credit issues.

Here's my question(s)...Owner has original Mortgage bal. of $119K and an "Open-End Mortgage" for 18K. What is an "Open-end mortgage"? Will this cause problems with him transferring property to me if he should hold the note or do a lease w/option?

Also, pulling up these docs. thru the Co. records...I noticed a section that reads "If all or any part of the Property or any Interest in the Property is sold or transferred without Lender's prior written consent, Lender may require Immediate payment in full of all sums secured by this Securty Instrument...etc. Does this delete the possibility of owner financing?

Any suggestions for getting around the above? If I can't own the property myself, would the above prevent me from assigning this great buy? What about a Mortgage assumption? Are the lenders these days more willing to let a buyer assume the mortgage if it's obvious the current Mortgagee is headed toward foreclosure? Just trying to decide what "CAN" be done (I'd prefer to own this one)then go from there.

Thanks in advance for speedy response as I've tried looking for these answers on the site and in the books with little luck and I'm to meet with the owner tomorrow. Pls. advise.

Thanks so much,
Phoenx

I'd be interested in hearing from some of the more experienced investors on this one! Would you please forward any responses...Better yet I think this should be posted for all to see!

Welcome aboard!
Phoenx

Hi Team, I would like to know if you have a Valid CA REAL ESTATE SALES LICENSE can you use it to get paid for knowledge such as being consultant or is it recomended that you become a real estate broker. The reason I am asking is I did some work with a franchise company that was suppose to work with me through a few deals at the begining. They just did not want to hire me because of a hidden disability which you can't see it and I am just really not happy with the company that I was working with because they really did not help me and I feel like getting my California REAL ESTATE SALES LICENSE was a complete waste of time,even though it does not hurt to have it, I am skeptical about starting this program because since I have a CA REAL ESTATE LICENSE I thought you must have a real estate broker or attorney to hang your license, I don't know if I could just use my real estate license and get paid and go out by myself, as a investor and use my real estate license and say I have knowledge and understanding about the law of real estate? Please help any suggestions you can throw my way would be helpful Thanks!

Just curious! Reading the book is essential in the process of gaining mobility in real estate. While gravitating with hands on training brings vibrance more sufficient with a common ground. On that note to coincide simultaneously can become a possible breakthrough for a beginner. Can this be Favored?

Where can you get money to buy an apartment complex and how the heck can I get through my fear?????

I'm just curious if anyone has gone the grant way. And what grants they applied for. Or if any one can recommend a good grant to purchase a home with.

ok,this book is telling about the 24hour scripts so where are they at to view?