Blogs

I received a call from one of my clients the other day. He was down because he said that he had worked Dean's program very hard for about a year without any success. He wondered if I knew if anyone in his area was making money. Unfortunately, we don't keep track of successes by area, so I could help him.

I started asking questions to see if I could get to the bottom of his problems and figure out why he wasn't succeeding and down. It turns out that he had studied diligently, worked hard on this Buyer's List. And spent tons of time looking at properties.

Google Docs is a wonderful and powerful tool you as a real estate investor/wholesaler can use to keep organized and simplify your business. And the great news is that it is free.

Through Google Docs you can create a questionnaire based on the questions listed in your "Questions to Qualify an Investor" form. Your questions offer responses by text, multiple choice, check boxes, etc. This simplifies things for the investor and gives them an opportunity to tell you in detail what they are looking for in their investment strategy.

A friend was renting a building where his wife operated a furniture store. The landlord approached my friend and asked him if he would like to buy the building. He did. It turns out that there was extra land involved. My friend split the lot and sold the excess land for almost what he had paid for the land and building. What a deal!

This doesn't happen very often, but many people have made money splitting off extra land from the house or other property they buy. It involves some work, but it can be very profitable.

Well i finally found a RealEstate agent who is going to work with me. yeah!! I currently own a house and i am renting it, so I do know alittle about this issue. I am in Arizona, and I am only receiving homes that have swimming pools. My issue; are investors interested in houses with pools, because it does increase the insureane as far as liability goies. If these investors buy houses with pools, I can get started tomorrow looking at them. I will do more reading on the forums and hopefully I can find an answer.

I met with a mortgage broker last night who shattered my vision of buying ten rental properties this year by contradicting almost everything I've learned from Dean about finding financing:

- he said no institution or private lender in California will allow anyone to get a loan without putting 5%-25% down, and they will NOT allow that 5-25% to be creative financing, such as "owner will carry" -- nope, we have to pay it up front.

- he said no institution or private lender in California will allow you buy a property to flip it, you must live in it for one year first.

The Federal Housing Finance Agency (FHFA) on Wednesday issued a notice to investors interested in buying government-owned REOs in bulk for use as rental properties, encouraging them to register with Fannie Mae in order to pre-qualify as an eligible bidder.

Is there anybody interested in partnering and working to take advantage of this