HOMEWORK ASSIGNMENT - Progress Reports

I am working with a realtor, that seems to talk me out of every distressed property we look at. I will setup a vists with the handyman ASAP! I have a gut feeling about this one.

Txs Anita

It sounds like it might be time to find a new Realtor.. LOL!
Keep us posted on what happens.

Its been a month now and I have yet to hear from a whole lot of people. There were over 2000 people on that call so if you actually worked on the assignment let us know, post what you did and/or accomplished here.

Happy hunting.

We are rolling up on our next call and I am checking to see if anyone from the May 28th call has any last updates on their assignment. Is so lets post them and see how we did.

Ah, yes. Another thread I just happened to stumble upon while sittin' up all eve coughing my brains out gettin' rid of a virus I never wanted in the first place. In this instance, it has paid off.

I've been reading through all of the great pointers on this thread. I'm sure this assignment is still active. Kinda curious as to what my results will be as I step up to the plate on this challenge? Only time will tell with the efforts invested.

Nighters.

Sonicreindeer

Anita please explain the reverse lookup on google. I am curious.

I have found a few vacant ptoperties in my area and sent out a letter stating my interest in the property. I have had many calls back from my letters. One of which I have contracted and I am going to show to an investor today.

Letters work send them!

My first flip was pretty much gutted....but after purchase and 6 1/2 week of hard rehab I sold and made a great profit! Dont discount the fixer uppers....but get estimate from someone who has good reputation, and then remember to add another 20% to whatever figure they give you for unforseen work as well. Then run the numbers and see if they work. Good luck!

Laura, based on your plan of action, you achieved success. I am and I know our DG family are really proud of you. You proved again that we can do it through action. Thanks for sharing. Good Luck.

Sandra

You need to find a realtor who understands your vision. Seems most want to show and sell premium dollar, ready to move in houses. Once you find a partner who understands your vision they will know how far you can go working together to not only make great profit, but do it by helping other people get great homes at great prices! Mine just found me a bank owned foreclosure yesterday the minute it came on the market - I was first to see and immediately put in a full price offer. She watches the hot sheets every morning for everything new that comes out for me! If I get this one I stand to fix it up and STILL make around 40,000 on the flip!

Hi,

Name is Chenelle Garner and I'm about three weeks into trying to sort out first things first. I located sveral Realtor and they've been very coperative and they've sent very good listing and alot of properties as possible investment. My delimma is funding. What do I do? How should I approch the matters of getting money to be in a position to possibly purchases these property. I've listen all the advice on Hard Money, Tradional and other ways to go about getting money but really what steps should I take?? I really need some advice and help!!

Also it is a great veiwing these the formun because it allows me to understand some techniques. I've also located several good deals I just need to know where to get monies to purchase my first property.

You need to get yourself a "buyers list". There is much advice on this site about that topic. All that you need to do is find an investor who would be interested in these "deals" and assign the sale to them.

In other words, make the offer, lock in the property with a purchase and sales agreement *signed with your name and --and/or assign* and then find the investor who wants this deal. At that point you can add an assignment agreement to the sale add your fee and collect your monies at closing.

Once you have done this a few times, you should have enough money to purchase a property yourself, by conventional mortgage, hard money lender, or creative financing.

There are many options out there for you. I believe the most important item that you need first (if you are working with little or no money and/or credit) is to have that buyers list.

Good Luck, and don't worry, you have the DG Family here to help you every step of the way!