angel's journal

angel's journal

i bought deans book BARM about a month ago. i am up to chapter 5 and feeling highly motivated to get started in REI. with another book that i am reading i think that wholesaling or assigning property might be the best way for me to get my foot in the door. but as i read though the forum i keep reading about people having a hard time with it so it is making me a little nervous. also i had my forteen day trial period with the foreclosure alert system which was good but the houses were so expensive and with my credit i really cant do anything other than assigning property in order to start gaining the funding and eliminating debt to purchase houses. i read alot about people buying and rehabbing their homes but where do the get those funds, or do they already have that money saved. either way i need to get out of this paycheck to paycheck rut so i will read on and begin trying to implement what i read.

angel

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rehab funding

i am new to this also and i have been reading barm. now i am not 100% sure but one way you may get funding for rehabbing properties is to get a loan that includes enough money to buy & fix the property. if i am correct, it is the flip strategy.

dee


assignment of:

hi again
are you also taking dean's courses? if so, course #11 is all about assignment of contract. there are five different topics that the instructor goes over that give important information on how to do assignment of contract. in fact, after going over that course again, i am seriously thinking about doing a lot of assignment of contracts.

dee


rehab flip

angel,
in dean's course, equity exchange overview which is course #16
it talks about doing flips and one is the rehab flip where you buy a property at wholesale 70% or less of fmv, rehab & repair, then resale for fmv. your resale price minus closing costs is your profit.
hope this helps.

dee


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