FAQ: Answers To The Most Asked Questions - Start Here

No Doubt, you can definitley get started @ 20, the question is: Are you SERIOUS enough?

hello i am all new to this real estate field, i know and have the faith that with today's market I can profit. My question is I'm getting started and I want to know about finding properties to build my account up, Is the finding homes, receiving a finders fee so simple as it sounds?

My question is do I need to hire an lawyer for me turning these found homes over to realtor's or is there just some simple papers that I can handle in my own?

How many people use the Real Estate Market Cycle evaluation chart that's in chapter 5 of Dean's book? Would you be interested in a computer program that'd let you do it easily? I wrote it for myself and would be willing to touch it up and put it out.

Sean

Not quite sure what you mean by " Hiring your lawyer to turn over your properties to your lawyer?" You wouldn't be turning anything over to your realtor?

Hello,

I'm about half way through the book and am totally new to the site. Is there a section here that provides info on the current state of the national factors affecting current real estate values?

thanks,

Bryan

I have no experience and want o get started on doing things. I have found plenty homes but none so much like one in a good location and is up for sale by the owner. What are the footsteps towards this if I was going to get rewarded for a finder's fee?

I was asking about ho do i go to for a purchase agreement so that I can receive a finders fee for finding the home? What are my first steps?

To help you get started you might want to go to the top left of the home page and click on forums. Find the forum on 'Wholesaling' and the forum on 'Bird dogging'. You might want to read those.

Also check out these links to help you get started.

http://www.deangraziosi.com/node/61
http://www.deangraziosi.com/node/1509
http://www.deangraziosi.com/node/2455

http://www.deangraziosi.com/node/2022
http://www.deangraziosi.com/node/42
http://www.deangraziosi.com/node/1393

Michael B

Thanks I will apply your info.

I just saw an REO being advertised, my real estate agent is checking it out for me. She expects to get back to me as soon as she hears something. The asking price is 245,000. right now they are asking for 500,000. for houses like the one I saw. However, I still have no idea about the comps in the area, since the ad did not specify the area the house is located. Therefore, I am waiting for feedback from my realtor. Will keep you all informed.

Sandra

I would like to know from anyone out there about the training program. I bought and read the book and now debating on signing up for the One-on-One training program.

* Is it beneficial?
* How much is the up front fee?
* Do you actually give it back after your 5th deal?
* Do they work hand and hand with you to push you to success?

Any help would be great! Thank you! Have a great day!

Rocko

Hi guys, I am as new as it gets to REI. I found three properties that are currently in preforclosure and are set to be auctioned off in a week. What, if anything, can I do to lock these properties up and take them off the auction block.

HEELLLP!

Miller

There is probably not enough time to get an offer accepted by the bank, to set up a short sale if there is no equity. If you could somehow get the owner enough money to satisfy the bank, you could then purchase the property from the owner directly. If property is listed by a Real Estate Agent, Make an offer, and see if the bank will delay the auction.

Al

ok im trying to assigin some properties i went around in my nieghborhood found like 15 houses of different types and i know who the owners are and how much they want from going to zillow.com and seen the zestimates and all but i dont have any phones numbers of the owners got some agent numbers but was wondering if i should call them i dont wont to mess with the bank owned houses so i was wondering if anybody could help me out with how to find the contact info for the fsbo and what i should do next

NOTHING, ABSOLUTLEY NOTHING, 1 week, is NOT enough time, the ONLY thing that you could do is: Go to the Auction and LEARN(thats what i would do) if the Auction is pretty close to where you live.

Hi everyone,

I am so new to the REI, but i know people that are realtors and brokers never asked them about REI until now that i am up and coming through Think a little Different. Some friends have already sent me some deals but i dont know if it is or not. Im just getting started my credit is bad plus i dont know what to do. but here is one of the deals its in a very nice area thats up and coming fast in north texas. can some one please HELP....

3004 sq ft, 4/3.5/2

Two Actives on the market asking $0.85 to $1.00 per sq ft.

Leased ave. is $0.75, which is good, i dont know. The middle school is next door to the subdivision and the homes are very very nice. Mixture of brick/stone and Cape Cod style.

Could lease $2100-2250 so buying it at $230k with 10% down should make it cashflow or break even. Depreciation per year should be around $6272. Dont know what the tax value is for 2008 but might need to appeal it if possible. (2007 was $363k)

I would get comps (comparables) of similar houses that sold in that area to find out how much they are really worth, and are really selling for. That way you will have a good idea what their real value is. I believe that is better then using zillow.com
As for finding the owners, you said that you know who the owners are and then you wanted help to find the contact info for the fsbo. ? Well, if you know who the owners are, great. But if you need to find contact info on the owners, one way to do that is by going down to your local county office and visit the accessor's office or the treasurer-tax oollectors office and have them look up the property owner. They will give you the owners name and sometimes address. The don't usually give you a phone number. They will also tell you whether the property taxes are current or past due.
And if the property is listed with an agent you will have to go through the agent to negoiate with the owner until that property is no longer listed with the agent.
I hope I answered most of your questions. And I'm sure someone here can add some
info._____________________________________________

Michael B

How do I find foreclosure results and information from past foreclosures? From summer/fall of 2007.

The only way I know to find past history, is to go to the county recorders office and search the records. In some counties this can be done on the net.

Al

I am looking at a 3bd 2 ba 1375sq house for$74,900 I have someone who has 20% down,but her income is low fixed.How would you make this deal?

Sully or anyone can you help?

Will the banks let me lock in a property to turn it right away? How do I go about doing that? How is All this problems with the economy help or hurt us.
You can tell I am new at this. I still havent done my first deal. Thank you for your help!!!

I am going to need a LOT more information than that, are you the seller?, or are you just trying to put BUYER and SELLER together? What are you trying to accomplish here?, SULLY

Raul, first i would like to say that in reference to your question about the problems with the economy(good or bad?) answer: GOOD(for investors in RE) NOW is the BEST time to get into this great depression(thats what it will be called) All you "newbe" investors need to get in while you still can, with ROCK BOTTOM prices, you will NOT see RE this cheap for decades, what does that mean? Buy everything you can afford to NOW and ride the WAVE(up swing) Go and purchase some CASH FLOWING properties even if it's a $150 bucks a month positive cash flow, DO IT. In 4-6 years you'll be sittin' pretty with assets that are APPRECIATING and NOT DEPRECIATING, there's deals EVERYWHERE, NOW BUY a DAMN property, SULLY.

Raul, first i would like to say that in reference to your question about the problems with the economy(good or bad?) answer: GOOD(for investors in RE) NOW is the BEST time to get into this great depression(thats what it will be called) All you "newbe" investors need to get in while you still can, with ROCK BOTTOM prices, you will NOT see RE this cheap for decades, what does that mean? Buy everything you can afford to NOW and ride the WAVE(up swing) Go and purchase some CASH FLOWING properties even if it's a $150 bucks a month positive cash flow, DO IT. In 4-6 years you'll be sittin' pretty with assets that are APPRECIATING and NOT DEPRECIATING, there's deals EVERYWHERE, NOW BUY a DAMN property, CLASS DISMISSED, SULLY.

what is the points for?

That's a good question. What are they for?

Hi, I am a newbie and wanted to know can I use the sales contracts form on this website without a lawyer?

Whoever gets the most points WINS a big cigar!

Yahoo!

OK OK Let me add this: From observation, it measures how active you are on the site.

I have several vacant lots, 1 acre each. What can I do to make them an attractive buy in this down market?