OfflineOk I just got done reading dean's 'Be A Real Estate Milionaire' book (after recieving it in the mail 2 days ago) and I still can't find the part where you can buy foreclosures or preforeclosures without having any money or credit. (Although I did learn about the 4 kinds of markets and what strategies to apply for each one, but It wasn't enough to get started right away) I surely did not find the strategies I was promissed in his infomercial when I decided to buy the book.
Can Someone give me a few pointers on how the no money or no credit strategy works? or atleast redirect me to the chapter where it tells you those strategies?
Thanks in advance.
P.S. I do want to jump in to the real estate market. But I don't feel properly equiped.
"Open minds backed by knowledge, wisdom, persistence, and determination equals unstoppable excellence"
- wrecklessKane
http://www.deangraziosi.com/real-estate-forums/marketing-buyers-
If you look at Rina's post. She explains where to start.
I would say Bird dogging would be a good place for you to start.
Get a buyers list going, You can find some investors on craigslist and backpage.com. Ask what kind of homes and area's they are interested in and try to find great deals in those areas and home specs. If you get a deal put it under contract with an escape clause to get out if needed. pass the deal onto your end buyer(investor) with your fee included. Say you find a deal for a house that is worth200k you get it for 100k you can assign to your end buyer for 110k or what ever you want to charge. At closing you will get a check cut for your 10k.Or you can make an agreement with your end buyer to pay cash for your fee.
There are other posts more detailed that tell you how to asign deals . search through the forums and you will find most of the answers you are looking for.
This is just a suggestion and a rough idea on what to do.
Hope this helps.
I just read the "The Dean's List" and I learned alot about assigning deals and being the socalled middle man. And I'm amazed, I never knew you could get started in such a creative way like that.
But I have a few questions on how you would draw up a contract.
So how do you create a contract? What will it look like? And what words shoulds I say when creating the contract?
If I can figure how to create a contract, then I think this is the way I want to get started.
"Open minds backed by knowledge, wisdom, persistence, and determination equals unstoppable excellence"
- wrecklessKane
Go to student resources on your left. click on forms and docs. You will find all kind of contracts in there. You will just need to add your escape clauses. Sully has a few great posts on that. He explains the steps for you.
Good luck.
1.) What is the average attorney's/title company's fee for getting involved with an assignment? Or does it vary state to state?
2.) Where can I find Sully so I can check out his/her escape clauses?
2.)ESCAPE CLAUSES As for where to put the Clauses, they'll need to go on a Separate Addendum that gets added to the contract, I will tell you the (4) that I always include in each deal:
1. 1) "ABILITY TO ACQUIRE FINANCING SUITABLE TO THE BUYER"
2) "ABILITY TO ASSIGN"
3) "OFFER IS CONTINGENT UPON SUITABLE HOME INSPECTION"
4) "ENTRY RIGHT"
Jason S.
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