FAQ: Answers To The Most Asked Questions - Start Here

You will have to do a double close. You are not able assign bank properties. It's not allowed. You CAN do a double closing with transactional funding. You lock up property with a contract with bank to purchase(A to B). Transactional funding will fund money to bank for your A to B transaction. You then bring in your new buyer and escrow company uses new buyer funds to buy from you. There is a fee anywhere from 1,200 up depending on the deal amount. Hope this helps you. ..

looking for other REI members in utah

Hello Everybody !!

Thank You for your valuable information throughout these forums !!

After I made the initial contact with a buyer/investor, I include the

property info, including income versus expenses, the individual asks

me where the property is located. I don't want to let them know because

can't they go ahead and buy the property without me getting a finder's fee?

How can I delicately let them know this ? I am excited and ready to

listen to your advice. Thank You in advance !!

Brian from Massachusetts

I am helping a man save his house. the house is paid for in full, but he does not have the means to afford keeping it. (bills, taxes,etc.), a couple of people had him sign a power of attorney, making him promises, that they were going to help him. instead apparently they took out a loan on the house, did not give him any money, and want him to move out ASAP, this man is my friend's neighbor, and knowing that I'm doing REI, they asked for my help. now we hired an attorney and found out that it is in fact a well fabricated scam! my friend and I will have to cover the attorneys fee, since he is broke. We don't have a lot of money either, and it's not going to be an easy one, but if we don't, this man is going to be homeless, and if we do, there is a chance that we save someone, from ending out on the street, and I will get a great deal to assign someone, besides crooks like this makes people be more skeptical toward someone like me as a beginner investor. thank you for any comment

Hey I was wondering if anyone had th econtact number for the support group?

Let the buyer know the general area of the property with out a specific address.

Got Deans books about a month ago. I have found a Real Estate Agent with experience in investing and working with investors. I have put an add on craigslist looking for investors. I have been searching the hudhomestore website for hud homes and been looking at newpapers online for listings for FSBO and other motivated seller homes in the areas I am looking at. I live in Pinedale WY (kind of in the middle of nowhere) and am willing to Travel 4 hours in any direction from my home to get this started. I feel like the areas that I am looking at don't seem to meet the criteria people are looking for as most homes in these area's are still marked mid $150's or higher. Please help me figure a way to filter out the best deals before traveling so I can make the most bang for my buck, and help me find investors that can afford the area's that I am looking at. Thanks in advance.

Kellie in Pinedale

Its sounds crazy, but when I first called the Real Estate Agents in my area all I said was I was looking for investment properties. Only one called me back. I went in to talk to him about a lot he had for really cheap and told him I would like to get into more investing. He was the one that came to me with the idea of making lots of low ball offers and looking in the other areas surrounding this area. I was terrified before I called, but you just have to suck it up and go do it. I am so much more excited about this now that I have a great agent behind me even though I have no investors yet. You don't have to know everything about investing or even anything about it, If they are a good agent they will get excited about helping you invest.

You found 1(one)REA to work with you and look how that made you feel! WOW, before you were terrified,now look at you.

YOU are now 'out of the box' and things wil start to work out for you because YOU stepped OUT of your comfort zone and just made it work. Congrats

The REA should want to work with and profit as well. 20% of REA do 80% of the deals and 80% do 20% of the deals. You got a 20% chance of finding the right one,but when you do find them, you keep them.

Best,

I have a cash buyer who will purchase up to 55% ARV. Is this typical? It seems a bit low, not leaving much meat on the bone for me. Matt Larson has said he has purchased his properties at an average of 55% ARV. This would leave me with no profit with this buyer. I have read deans books, but I am still a bit confused on the % ARV that would be fair for the buyer and me, leaving a win win for everyone? I would appreciate any help with this.

Thank you,
Timony123

Does dean have a website provider he recomends? Is there a standard website available for us to view or use for our own. The reason I ask is I would like to get one up and running but have now idea what to put on it or how to design one. It would be great to have one I could use and tweak to make it my own.

Welcome to the DG family. I actually can answer a question rather than just ask them. It is exiting for us to give when we can.

You can access a free website offered by dean at this URL:

www.deangraziosi.com/freewebsite

I wish you the best in your real estate endeavors.

Timony123

Please help. need someone to help me calculate home repairs

Be healthy, wealthy, and wise

Will

Thank You I'll check it out.

I'm sure there are other readers that feel like they're drowning and are too afraid to actually speak up and ask for help, but I'm going to give it a shot...

I cant work any harder towards starting real estate investing. I'm very young with no head start in life and I refuse to stay stuck for much longer. Basically, I'm trying to start with bird-dogging. I pretty much understand the process, but here's the problem:

How am I supposed to approach an investor wanting a bird dog? I have no experience, so it's hard enough finding them in the first place. I'd love to join the Success Academy because I have full faith in Dean as a mentor. But that requires even more money than I wish I had.

I'm willing to learn as much as possible. Is there anyone out there willing to help? Please?

Thank you for your time spent reading this.

Question:

In Dean’s book and on the Get The Edge DVD, Greg Murphy, one of Dean’s successful students, buys houses with No Money Down and No Credit by finding a homeowner that is behind on their payments usually 2 to 3 months behind and heading towards foreclosure. Greg offers to bring the house payments current to keep the owners credit from getting pounded in foreclosure.

He then gets the deed on the property from the owner. Works through his Buyers list to locate a tenant / buyer and signs them up on a lease option. Because Greg is located in the inexpensive southern states, he’s buying homes for $35K to $50K. When he locates a Tenant / Buyer, he usually averages about a $5,000 Down Payment.

Due to the low cost of the house with the low cost of the existing monthly house payments, when Greg gets that $5,000 down payment, he can Make Up the 3 monthly back payments that is currently behind Plus he still has some money remaining for a small rehab or work on the house for curb appeal, like paint, carpet, tile of; $2K to $4K.

If you located in a much higher priced property state where homes are $250 to $500K, the $5,000 down payment Might make 1.5 months of back payments, yet you couldn’t make up 3 months back payments, plus you’d have nothing for any curb appeal.

Question;

So What Do You Need to do in a high prices state ?
Do you have to work up the numbers to arrive at a figure to make up 3 back payments and have the remaining cash to do the small rehab – because you’d be searching for buyers with about $20,000 or more of a down payment to do what Greg is doing?

Seems with that high of down payment – you’d have very few people be able to step up with that down payment.

Any comments or suggestions on buying properties in So. California?

Also, is there someone with success buying properties in So. California with no money and no credit

Hi, have seen your name here many times, a pleasure to write 2 U!! If yor starting a new topic what is the best method as head don't want to tread on anyone or post incorrecltl as this website is far to valuable....thanks 4 Your time!!
Bob (how is good ol S> Cal anyway,sure miss it)

Can anyone tell me where I find Dean's video on building a buyers list?

I do not want to post my asking for assistence in the wrong place!

are there links that we can put on our sites to deans site.

there are a few videos you can view on building a buyers list.
go to (totalviewrealestate.com) there are training videos on building a buyers list.

Okay, I posted two questions under my account and received no responses, is this where I should be doing this because it seems awful strange that no one responded to either question.

Dave

I recently awoke one early morning and happen to see Dean's infomerical running on the television I was watching. As with all infomercials, and get rich quick schemes, I quickly looked for the remote so that I could change the channel to see what else may be on. For some reason I kept the infomerical on, sat down, and continued to watch the program for as long as I could.

It has been around a week or so since I watched the program and I cannot get it out of my head. It definitely caught my interest. I began to investigate Dean's methods and some reviews on how other people are doing and I am looking for some honest feedback.

I am very interested in some of the products, but I do not know where to begin. If anyone has the time please get back with me.

Thanks,

-B

I'm would like to find out how cash buyers work?
How can they aquire propery after property?
Are they millioniares? Do they use equity or good personal or
corporate credit? Is it a group of investors working together?
How do I become a cash buyer?
Thanks

I need a POF and and was told I didn't need an LLC to get Transactional Funding so I waited to start the process. Now I'm going to make offers and my RE:agent wants A POF but I'm finding the funding company is asking for an LLC. Please help!

Hi
I'm a newbie who is just entering the real estate world. Before i do the "flip and Sell" business, i want first to get a real estate license. Can somebody plesase give some advice, if doing this course is necessary? or no need at all..?

Thanks for all adivice,

AA.

Can I still participate and try to buy a home someday, even though I have been foreclosed on?

Dean says in his book "Profit from Real Estate Right Now", to go find a Mortgage Broker for your team, and direct your potential buyers to him/her for a qualification check. Once they go to the broker and get approved, why would they stay with you, rather than just go off and buy another property since they have been pre-approved at that time? Maybe you have only one or two homes to sell them, and the open market has thousands to choose from. We will quickly lose them once "our team" finds them financing...???

This was one of my biggest questions as I read Dean's book. Can anyone help me?

i have no money and no credit. i just listed two ads on craigslist, one for buyers and one for sellers. the sellers ad i wrote that i work with a group of investors and can close within 90 days and also in some cases can buy all cash. the buyers ad read investors wanted for multiple investment properties. i found that one here online by another student. also posted for buyers with free classifeds.com. did i do the correct thinig for the ads. i don't want to get stuck with properties i cannot afford.

I am new to this.this is my fist house i have found.So,I found a property that the owner is asking 65000 for the market value is about 74000 "she said". But i think it is worth more then that.the houses around it were going for 80000 to 120000 its a 4bed 2 1/2 bath, its in a good area.but not much of a yard though,it has been made into a apartment. but can be turned back into a full house.may only take 200-300 to fix it up.she stands firm on the 65000 no down payment.and wants me to finance it.
Question #1. is this a good investment?If so!
#2. would a investor be will to help me? because i cant finance it myself.
#3.or should I keep looking?
Sorry! for asking this questions.But i am still trying to read through deans book. and learn how everything works.Thanks