OfflineYou may know by now I am a coach with the Dean Graziosi program. In fact I have been with this group for 6 years and in the investing field for 11.
If you could ask one of Dean's coaches a question what would you ask?
Myself or one of the other coaches will try to answer what we can in between trainings.
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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
What are the best ways that I can bypass submitting cash dollars and etc. for the Earnest Money Deposit suggested by a realtor in order for my offer to be seriously considered?
Many Thanx
George
http://gemcourt.weebly.com/
Great Answers!
How do I find motivated sellers?
I have no money and no credit, what are the 1st 10 things I need to do- as specifically as possible.
To keep the post at least a little short I will focus on finding the motivated sellers.
No Money Down deals often come from the financing that is used and how the property is purchased however the motivated seller can be a great effect in helping us get no money down deals.
Motivated sellers are everywhere. They can be found from Realtors, driving your area, asking around and letting everyone know that you purchase real estate.
I feel the key to finding the motivated sellers is Marketing. I once paid to go to a conference here in our area with an investor that moves a lot of property. One of the statements that he said when I was there was "If you learn to market, you learn to succeed at this business". That statement has been with me through most of my investing career.
For me good marketing is getting a potential motivated sellers to call me before anyone else including the Realtor. If I can get the seller to call me and I am the only competition on the property I can work out a lot of ways to purchase the property without my own money.
Marketing is weighed by cost vs. return. For example if I am tracking my marketing (which I should be) and I find I am spending $2,000 a month (this is just a nominal number) and I get only one contact and purchase the house which makes $10,000 in profit this is a good return. Often people do no weigh the cost vs. return and do not know how their marketing is doing.
If I were to list 10 items to do to get to motivated buyers I would list them as follows:
1) Learn the Due Diligence process.
- I do not want to have clients find motivated sellers but know nothing of how the property should be looked at. This includes what is the value of the property, what are the fix up costs, what is my offer? (www.deangraziosi.com/node/3975)
2) Find a Realtor.
- My idea is the more poles in the water the better chance to catch a fish. Realtors can find motivated buyers in the MLS. If you find a good Realtor that understands investing they can do very well in bringing business to you and helping you get no money down deals.
3) Determine what you can do.
- Find out truly how much money you can put into properties, marketing and the likes. After deciding on the money you can spend, decide on how much time you can afford to use for this business. Then create a budget for your money and time so you can be most effective.
4) Do the marketing you can do.
- Marking such as driving your area (some may not call this marketing but I did), putting a magnet on you car, putting our fliers and handing our cards can be one of the great ways in bringing in deals.
5) Go to a Real Estate Club.
- Real estate clubs are an excellent avenue to get around other investors. You can find people that inspire you. You may find others that you look at and go “hey, if they can do it so can I”. Investment Realtors can be found here as well as excellent financing options. Lastly the real estate clubs have investors or sellers getting rid of property. There are investors, such as myself, who will only handle so much property; anything else is sold wholesale at great prices to other investors. This is in my opinion one of the best things to do when getting started in real estate.
6) Find Buyers.
- Creating a motivated buyers list can help us sell houses quickly and give us money while giving a leg up on the next property. Also, having a list of buyers and what they are looking for can help us focus on the houses we can look for. Lastly, if we have a buyer now we can just flip the property and never put money into the transaction – a no money down deal.
7) Market to NOD’s (notices of default) or Lis Pendens.
- Obtain NOD’s or Lis Pendens from a title company who will give them to you for free then market to them. If you do mail marketing to these foreclosures you will need to create a marketing campaign. Most sellers will not reply until the 5th letter or later. I have done 2 letters, a postcard, 3 letters; I have also done 6 letters as a campaign.
8) Market to less followed methods.
- Marketing to professionals can be a fantastic way to find motivated sellers. For example: Divorce lawyers. Divorce lawyers often know their clients intimately. They know their debts, assets and hatred towards the spouse. Often in a divorce the house needs to be divided. Sometimes the house is best sold then divided. You can help those clients by purchasing the house.
9) Read, Learn, Never Give Up
- Now that you are involved in the business continue to learn. Always, have the mentality that you gain something from everyone. With this attitude you will continue to improve your own business and never, never give up. Often people come into this business and get negative information or have the thought of I can’t (which is just an excuse) and give up – don’t do this.
10) Take what you have learned and improve you’re your business.
Check out my journal:
http://www.deangraziosi.com/real-estate-forums/investing-journals/64065/...
My free website from Dean:
http://paradiseacquisitions.usapropertywholesale.com/
The Sky's the Limit!
If you have a question for one of our coaches feel free to post it here and one of our experienced coaches will answer your questions.
I am glad you brought this to peoples' attention. Now we know we have another great outlet for our questions! Thank you for your sincere and incredible contributions!
Sincerely,
Kevin A Goldman
Goldman's Gardens Real Estate, LLC
Wholesale Real Estate Investing
Great Success to Us All!
My Journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/62066/...
Why do I deserve this? Because everyone should be able to enjoy their life, not struggle through an existence.
Hello, my question is short. Do you think Hawaii is a good place to invest in real estate? I plan on moving there soon and would love to invest in real estate. Thanks for your time. Chuck
How do you determine the equity a property has?
is this the difference between the purchase price and the true FMV?
I just started with REI 2 months ago and am close to being up and running
Thanks for all the help.
God Bless DGF.
Coach,
How would i structure the paperwork in a deal where Homeowner A and homeowner B both would like to trade properties. Homeowner A's property is worth more than homeowner B, therefore homeowner B has the cash to make up the difference. Ive found the equity in homeowners A property, but which forms shall i use to protect my earnings at closing.
All advice welcome,
thank you coach!!
I am in the process of putting my lender (hard money) list togather aand was wondering if anyone has ever used CMP/Commercial out of Ft. Lauderdale, FL. Their info looks good but I want your input. Btw, thanks for giving me my hope and dreams back, and the avenue to reach them!!
Steve
Steve
We seldom get what we want, but we will always get what we expect.
Just checking to see if I'm going out to anyone.
Actually equity would be the difference between what is still owed on the property and the current fair market value.
After building my Buyer’s List I noticed only one, out of the six were active investors. The active investor is looking for multi unit’s .It has been very difficult for me to establish a solid Buyer’s List. I contacted 13 other investors who advertise online with no response. I wanted to begin investing by Bird dogging, but eventually I want to own multi unit properties. I’m very interested in lease options and I was wondering should I focus on obtaining multi units utilizing lease options instead of Bird dogging?
Well if you are new to investing, it would probably be recommended that you start with sfr's rather than multi units. They are a little more complex to start off with. Work your way up to that.
Hi, I am like the new kid on the block....my question is I have not read all of the book yet, but I have listened to must of the videos on the DG's site and I was wondering about the LLC, must I have this being a Investor? And I would also want to know do I need to create Contracts before I begin?
N~HIS~IMAGE
You can make an offer to the bank stating that you get to choose the title company. Their title company is not set in stone. Some banks may ask as an addendum that they choose the title company. You can either continue to counter this or ask for something else in exchange such as a lower price.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
The person's letter that you are looking for is most likely with Mall Larson. You can most likely PM him or search for his posts in these forums to find it. His information is great and you will enjoy what he has added to these forums.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Many Thanx
Earnest can be "bypassed" for a time by:
Writing an addendum: "Earnest money shall be paid with ___ business days from the acceptance of the contract" or "Earnest money shall be paid at closing."
You can also make a photo copy of an earnest money check and submit this with your offer.
If your Realtor does not like this you can create an escrow account and put you money in here. You can then put on your contract the earnest money and escrow account where it is being held.
Lastly you can write a promissory note that says you will pay the sellers later. This is similar to the addendum above but is a promissory note instead.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Any state has it pros and cons. You can accomplish real estate, as my belief, in any state. You just need to learn the area, the buyers, and how everything runs in the state.
The only difficulty which can be a positive as well, that I can see is that the island(s) are only so large. There is not much room and you are limited to certain areas.
Find buyers and they will define the areas you should be looking. This will help to focus you and get you in a direction to make Hawaii a great place to invest.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Recently I spokewith the director of collections on property taxes that are unpaid in my County. Im looking for properties with delinquent taxes so that I can increase my income or obtain the properties. They were completely unaware of any such Tax Lein Certificates in order to do this. I need some assistance in how to work Dean's Magic on the process of what paperwork I need to complete or legalities in how to use this process to work for me. Can You please help me?
is this the difference between the purchase price and the true FMV?
I just started with REI 2 months ago and am close to being up and running
Thanks for all the help.
God Bless DGF.
The equity is the difference between what is owed or what the purchase was and the value of the property.
For example:
Value = $100,000
Owed or purchased at $70,000
Equity = $30,000
The question it seems that is underlining here is: How do I know the value of the property at $100,000 is correct?
Value can be the FMV or ARV or other terms but they in effect mean the same thing.
Value obtained from comparables such as from a Realtor or values from appraisals are going to be the most accurate. This would be considered often times the FMV or ARV.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
How would i structure the paperwork in a deal where Homeowner A and homeowner B both would like to trade properties. Homeowner A's property is worth more than homeowner B, therefore homeowner B has the cash to make up the difference. Ive found the equity in homeowners A property, but which forms shall i use to protect my earnings at closing.
All advice welcome,
thank you coach!!
I will be honest with you. Taxes are not my strong point. I have hired a professional to do my taxes since I began working at the age of 16. I have always and will most likely always defer to my professional if I had questions such as this.
I would suggest the same. A good tax accountant can give you the best advice.
You could do a 1031 tax exchange in this case but I do not believe that would be necessary. You could work through a lawyer and do a deed transfer from A to B and from B back to A. Cash would be paid out according to the closing instructions. As far as saving the taxes and amount returned it would be best to seek advice of your tax professional.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Steve
I have never heard of CMP/Commercial. How did you find them? Can I assume the internet?
I would check with the BBB, Attorney generals office and even the chamber of commerce. These will help you get an idea of the type of company they are.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
You may create a separate forum about you going to Hawaii. You may find others that will contact or PM you. There are those that are part of the Dean family in Hawaii and others that know some who are in that state as well.
You will find that by creating forums for this we are a strong group that often help each other.
Have fun in Hawaii. Which island are you traveling to?
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
The question I would have is you say you have six buyer but only one active - are the others looking to become active? If not how did they get added to the list?
When contacting those that advertise online you are often finding national companies. Seek only those that are local to your area and you find a better result. Also, keep trying them. Be persistent. if you contact them once a week for 5-7 times they will get the hint, commonly, that you are not going away.
Commercial is more complex, take it from me, there is more due diligence that is necessary. You will be looking at values from an income standpoint rather than straight comparables as you do with single family homes. Some love commercial others do not. If you get into commercial just keep in mind it will often take longer. Many people do residential single families because there if a faster return.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
You do not need an LLC to begin the business of real estate investing.
LLC's are great. They give protection in law suit and give anonymity. This value is set up often as people get started in real estate but can also be set up later on after there have been some completed transactions. You will just miss out on the protection and anonymity until the LLC is set up.
I do not have understand what you mean by contracts? Are you asking about real estate purchase contracts?
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
bring it up
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Hi, everyone I am looking to get an agent now. I need you'll help, anyone live in the Hollywood area and are doing deals their right now. I need you guys help. IT would be nice if you direct me to an agent-someone you may know that could help me. I need money like yesterday cause my kids need somethings now. SO PLEASE YOU GUYS HELP ME OUT- ME AND MY KIDS THANK YOU ALL....
MOST HIGH GOD LEAD***move all the obsticals out the way..
**NOT MY WILL,BUT YOUR WILL**
There are many Realtors in the market but truly only about 5% of the market are worth working with. This means you will on average talk with 20 Realtors before you find a steller Realtor.
Check out this link for a script that you can use.
I would create a goal of 20 Realtors talked to.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
I searched my credit and since I have been cash only since 1995 besides a school loan my credit will be totally clean in August. And its not that horrible now. Would like to be in control of these deals and hesitant using opm from start because think might get taken out of deal. I have like $0. What can I do to get credit. Seriously, Its been 20yrs what you think is obvious I don't know.
I have a property 3bdrm, 2 bath worth 200k for 125k. Its vacant and needs little work but having problems finding an investor.
top
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
questions
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Do I remember reading somewhere that HUD homes cannot be assigned to another investor? I have been avoiding them thinking that they are not open to wholesaling and that the HUD process is difficult to maneuver. I do not want to try a double close either. I haven't done my first deal, so simplicity is the name of the game.