FAQ: Answers To The Most Asked Questions - Start Here

Do not give up, I am still working on my next house, and guess what? I have no money, so I am just like you. Lets give it a try.
Take care.

ddelikat that is so awesome that you are giving yourself such a great head start in the life of real estate. i have read and heard many stories of people that are also as young as you doing deals and making great deals of profit. keep learning and gaining confidence through knowledge, because knowledge plus action equals results. keep us posted!

Hello people, my names lance stimpson. im a 22 year old international student now living in the usa on a permanent basis. Im still at university but would like to invest real estate, im just unsure wether i would be approved for a mortgage such as 100% mortgage. with factors such as the state of economy and the fact im still studying without a solid income. Does anyone if i would be able to recieve a mortgage or if there are any ways around my problem.

thank you
lance stimpson

based on the imformation that you dont have a steady income and you are still a student, sorry to tell you but i dont think you will qualify for a 100% loan to value loan especially what with what is happening to the stock market these days. and i'm also asuming that you dont have a large downpayment. but then again it will never hurt to try, the worst that can happen is that you will learn what exactly you would need to get 100% financing from a brokarage house.
keep learning to get to the top.

Have most people done the coaching program? It seems like it would be a worthwhile investment, but I don't have the money for it. I'm hoping I would be able to do 1 or 2 deals on my own to get the money for the coaching. Has anyone done deals without the coaching program?

Steve

Well Lance, Theirs absolutley No 100% Conventional Financing right now, as someone stated earlier, it would be VERY Beneficial to learn some "Creative" Financing Techniques, this will be Especially HELPFUL in your current situation, SULLY

Hello everybody working for profits. I am just a little frozen on the finder's fee section. I am curious to how much people have made and their personal testimonys on the topic. If anybody has any knowledge, please help me out, I am struggling financially and I need clearity than my focus. Thank you.

Hello everybody working for profits. I am just a little frozen on the finder's fee section. I am curious to how much people have made and their personal testimonys on the topic. If anybody has any knowledge, please help me out, I am struggling financially and I need clearity than my focus. Thank you.

an agent told me that to make an offer on a house you have to fill out many forms and she needs to see that some money in the bank before the offer is made.

how can i go about this with out having to show my finances?
any tips on how to make offers?

Any suggestions on the best way to market this property.

Ron,

I have a Home in Chicago ripe for either
a Cash or Credit Investor Partner
This Pre-foreclosure is located on Chi-Town's
South side!

Here's my proposal -

Plan A

Cash Partner Investor Beneficiary -
Capable of Paying $71K all cash or bringing
loan current until Credit Partner's loan can
close - see Plan B (below). in return for 10%
Profit Share Plus 10% for the use of funds.

or

Plan A1

Cash Partner to Purchase out right
New Trust formed to located an RB
with 5% to buy in at full Appraised
Value $154K

Cash partner to get ??% of Net and
???% of future sale - open to your
suggestions.

or

Plan B
Credit Partner Investor Beneficiary -
Qualified for 80% LTV new purchase financing.

In return for ??% of Net and ???% of future
sale - open to your suggestions.

$45K to $71K worth of equity to share...

Any takers? Let's see what we can come up
with on this one?

Must act before December 3rd 2008

I'v been going through dean's course for about 3 months now, read his book,listen to the audios and so on, he talkes about a student of his,Paul Miller, who bought a forcloser and walked away from the closing table with $106,000, could someone explain to me how and where that money came from?

Hey guys:

I just bought the AFF system Sunday. And I listened to Dean's assignment for this week. Bare with me, I'm excited and nervous. Dean said to go on a New diet....did that today. And I called a Real Estate Agent to find out what was selling and where. I even lucked up in talking and found myself a partner to invest with. My book "How to be a Millionaire" has not arrived yet. The agent says that the hottest thing in buying at 30K to 40K, fixing the home up and renting it. I don't have the credit or down payment. My partner does, how can I make money off this deal? What can I offer and how do I orchestrate this into a profit for me. I'm not greedy but I want to use this and similar opportunities to start looking for some other deals. By the way, my partner wants to do a lot of transactions with me. I even have a property manager lined up for all the houses at a resonable price. My homework says that we stand to make $200.00 profit monthly off each rental after property managment fees.

HELP!!!

Hi all,

Does anyone use investors to help flip there projects? If so how do with and or structure a contract agreement between myself and the investors whom agrees to invest a portion of the funds.

I have already incorporated and the investors are willing to write checks to my company to help funds differ flip projects. Does anyone know where I can find example contracts.

Anita,

I have been an investor for many a year now, using conventional & hard money loans for deals. Real estate has made me a millionaire, and I am trully thankful that I got into it in a serious way 5 yrs ago.

Lately, I have been finding out that conventional loans for investors require 20% down. Is there ANY bank in the country that will do less than 20% down any more?

Thanks, John

Mr. Miller could have bid very low on the property, giving him at closing equity of $106,000 based on appraisal value. This is an excellent deal.

Sandra

Maybe you could be the eyes and ears in finding properties, where your partner pays you based on if the properties go into contract or maybe just for looking out and being a partner. The fact that a partnership was made is good. Also in partnership there should be contract, since this will be a business venture. I feel you are indeed lucky that someone saw it fit to include you as a partner. Best of luck on your new investment.

Sandra

Hello!
I am a fairly novice RE investor, although I did have a couple of rental properties which I managed myself in the past.
I wanted to know if this particular property would be a fairly wise investment. This property is in Chandler, AZ. It was bought by a bank and is a wholesale home. It is not on MLS yet. It is listed for $206,000 if purchased with a hard money loan. The comps the last three months are $260k to $275k. It is a lakefront property, with a pool on a cul-de-sac. 2000 sq. feet, built 1992. It is a little run down and I estimate repairs around $5000. The neighbor's back yard is viewable and it is pretty junky. So, the neighborhood is not that nice. If I take out a hard money loan for 18% and then refi, fix up and put back on the market a little less then the lowest comp price of $260k, will I be taking a huge risk? I am concerned about the neighborhood, and although it is a lakefront property, making it more desirable, I'm wondering if I will be sitting on this vacant property for 5 mo or more. What do you think? Thank you in advance for your help!

This is a question totally out of the ordinary and I apologize for asking. Does anyone know how to get the Main Section on the leftside of the screen from popping up in the middle of the screen when I want to view another topic on this website? Please help me. I cannot read most of this important information. Thank you.

cat c

Given the two "Tools" to work with in the foreclosure field, what would be the best start tool for a beginner.

it sounds like you are doing a great job. you have a buyer and a seller, which are very important in the real estate world if you do not have any money for a down payment or great credit. i am not very positive on what exactly you need help with, but i think you are wondering how you can make a profit with your investor. well you first need to find a great deal that everyone would want, at a great discount. after you have locked up your deal, you assign it to your investor, and charge him an assignment fee. the fee depends on how good your deal is.

I just bought the book, and after the Christmas dust settles. I am buying his program also. I am 55 and supporting kids in college,ect. no money, and not the greatest credit either. any suggestions.
Robert.

Hi!
So glad to have found you! I have been trying to find out if I can work on a finders fee in New York State?

I have a deal coming up now with a owner who owns his house free and clear and a buyer with cash who is homeless and can't wait to find a house.

Do you know if I can work my services for a finders fee legally and how can I write up this agreement?

Your help is so appriciated--
Nancy

P.S. If you know of any investors interested in New York--I live in a BEAUTIFUL area and have full time to invest.

The best tool for a beginner is to purchase Dean's book "Be a Real Estate Millionaire." It is factual and user friendly, good from beginning to end. Good Luck and God Bless.

Sandra

I have no idea about finder's fee in New York State, but it will be interesting for us to know. I am also from New York State. If you need information about finder's fee check out Dean's link: http://www.deangraziosi.com/node/1393. Good Luck, if you are successful, please share. Thanks.

Sandra

I need help in closing a deal. I have a 2 family house forcloser fairmarket pice 57000 need a lot of work inside and out roof,wall,ele,plum,landscape,floor. work may be 80,90,000. How do I work a deal with a bank that want to get rid of the house

Im about to bid on a forcloser with the bank. need a lot of work.2 family home. need roof, floor,wall,plum,ele,landscaping,bathroom,cabinet. House fair market value is 57,000. work is about 80to90,000.How do i make my bid to the bank that own the house.

Hi - I just joined and I have a client looking to purchase a Marina in TN. He has Billions in collateral, yes Billions. My business partner and I are in charge of getting funding for this Marina which will be between
5 & 7 Million. I figured it could not hurt to join and possibly get some advice or maybe even get a contact.

I will go more in depth with someone if interested or give me some advice.

Thank you for your time.

Chris Porter

HELLO MY FELLO INVESTORS ,I HAVE TWO QUESTIONS THAT I HOPE SOMEONE CAN ANSWER FOR ME. FRIST HOW CAN I PAY BACK PAYMENTS ON A PREFORCLOSURE WITHOUT INVOLVING THE LENDER BECAUSE IT COULD TRIGGER DUE ON SALE CLAUSE.TWO HOW DO I PAY THE LATE PAYMENTS AND PROTECT MYSELF DOING IT,I JUST CANT HAND OVER MY MONEY TO THE SELLER AND HOPE THAT HE OR SHE DOES THE RIGHT THING.CAN SOMEONE TELL ME HOW TO DO IT RIGHT. THANKYOU ORLANDO

I am very interested in trading out some of my time to a real estate investor or group of investors who have established a track record in the Los Angeles area. I am a well orgainized, project oriented, dependable, "people person" and fast learner. I'm articulate and communicate well both verbally and in writing. I have some experience with mortgage acceleration programs and have been a currency trader for the past several years. I am happy to assist in the right environment in order to learn and gain confidence for my own successful venture. Any ideas or direction are welcome. Please email me at cjperez-gtn@charter.net

Hello everyone!

I'm new as of yesterday to this web site. I've read Dean's Be a Real Estate Millionare book and I'm very excited to get started. I have been doing a lot of research and want to get started but find myself unsure of how to go about it. I found three for sale by owner opportunities in the paper today and I am wondering if anyone can shed some light on how to make the initial contact?