Does this course REALLY work?

I'd rather make some mistake/wrong decision, than not trying it. Blessings to all. LA

Ok, if I purchase a house that's been forclosed and I make repairs, etc., how in the world can I sell it? I mean, it's been on the market for who knows how long? The original owners couldn't make the payments. The market's so slow - no ones buying. It just makes no sense that this can work.

dmroman,
What seems like resistance is often a lack of clarity. This is what you and you're wife are going through and with good reason.
Your question is incredibly valid, take it from me I've lost a fortune in real estate but only after I became a millionaire and trust me, the lessons were about people not real estate. And I can tell you, hands down the emotions and psychological control is what makes the game.
With that said, let me try to help you with your choice about Dean's information and you're next step to answer this question.
As you know, we are all animals. We have genes that no matter how much we care to deny it, guide our lives towards individual survival. And, you're no dummy because your questions prove you know that otherwise you wouldn't be asking them.
So what do you do with a property that is obviously a current loser? You leverage the knowledge and experience of those who would know how to help you NOT get screwed buying it.
Let me explain because it's simple.
You hire people that can tell you if and how the property can be of value to "who". For instance, everyone on this site is hungry for more control and financial freedom. Period, we're all here for ourselves, you included. So, if you're going to buy a property that didn't sell and foreclosed, it's a simple matter of value combined with survival.
In short, you'd have to buy it for CHEAP so YOU and SOMEONE ELSE could profit from the transaction. That's the mistake of almost all new investors make. We fear that if we're making a profit that there's no way anyone else can. This is limited "non growth thinking" and causes our own "survival" to doubt the system, the transaction etc and search for more logic and causes analysis paralysis.
So, to answer your question, value. Locate value within a transaction (usually equals equity + potential cashflow etc) and you're there. Want to know how to find that information? Hire the people that know and create realistic value for them as well. For instance, hire an agent that knows the area, has experience and has the right to list it once you're done with it. There's NO WAY they're going to waste their own time on a property that is over priced and that's your leverage.
Hope that helps,
Adam
PS All real estate courses are short cuts of knowledge, nothing more. They're tools of the trade, NOT the working solution. This is the people business, if Dean's got a better shortcut that others (as he appears to have) then simply ask yourself if you're willing to work to understand people and then buy his course so you can offer them value. And tell your wife that too, because she's no different that any of us, she's looking out for own her self interest as well...YOU!

It doesn't make sense to others, but to some, it does that's probably the reason why only 5% of Americans do what the 95% is not comfortable to do. Blessings to all. LA

I enjoyed reading Adams response above. He's 100% correct. What Dean teaches you is how to be a SMART investor. That is key. You need to learn your market and demands, and then look for the property that will give you the end result you want. My first deal was a fix and flip. My realtor told me exactly what price point I would have to be in once its fixed in order to undersell the competition and sell it quickly. So I took that number, and then ran backwards from that all my expenses - holding, commissions, rehab, permits, etc etc, and arrived at the maximum amount I would pay in order to come out top. Trust - me I had many sleepless nights during the rehab, but I'd go back to my calculator at 2am and renew my faith that I did everything right and this was going to work! And it did - I bought, rehabbed and sold in 3 months time for a 21,000 profit! That is just one strategy! Dean teaches many, and there is one that will suit everyone. And this down market is a gold mine for investors - as long as you are SMART. Again - thats key. And you have this website full of information and friends to support you, Deans weekly blogs, and all the information his his books. You have all the tools you need, its just a matter of learning and then TAKING ACTION. Remember: knowledge + action = results! All the best to you!
PS - I bought his book two years ago April and have done 10 deals!

The secret is buying at the right price!! You must purchase this house at a price that allows you to fix it up and offer it at a price that it will sell at. Every house in the U.S. will sell tomorrow at the right price. The secret is putting in the time and effort to learn how to do this and to meet the right people (investors, lenders, bankers, listing agents, home owners etc etc) that allow you to do it!
Learn the MANY strategies available to you that allow you to make money in real estate. It won't happen over night and it takes effort!
I personally did 5 deals is May without using 1 dime of my own money and never took title to 1 of these houses!
Education then take action is my suggestion. Dean's books and the academy are THE BEST without question!

You can do it!!
Michael Mangham
MD Home Acquisitions LLC

I bought Dean's books a little over 6 months ago, am on my second deal with a potential 3 and 4 right behind it.

Read Dean's Book, research on here and ask questions, take action, and you will succeed. There are plenty of people on here who have spouses that don't support them, just DO IT!

Dean is the best teacher. His books and courses are filled with ons of knowledge. Dean provides all the tools needed to build success. I am 19 and making deals happen, I also found a great partner on this site thanks to Dean. Anyone can do this if you work at it.

Jeremy

I have 12 years experience in the mortgage/real estate business 4 of those years working directly for an attorney. I have learned as much or more from the less than a week I have had the books for $34 something and this free website than in 12 years doing it hands on from the inside. Part of the key is to be adaptable and willing to constantly learn new things. When one side of this business is up the other side is down if you learn to change your strategy with the change of the business and watch for the trends in the market you will always be successful. Like I said I have only had the books for less than a week and although I have yet to do my first deal on a personal level (not for someone else for an hourly wage)I can see how this can definitely work and feel confident of my future success.

I have had deans first book a year and when he came out with the new one I bought it as well not too long ago. The system is working for a lot of people here. I have two good agents I work with in the area that I live in here in Ne Texas, I have two big investors on my buyers list one of which has give me the offer of being a JV Partner with him, the other is in investment company working with other investors. I spend long and many hours looking for properties for these investors, I communicate with them on a regular basis also. In my area as for the market it is very hard at the moment as people are having to sell for what they owe on the property or even more to make a profit when it is sold. There are those which are a lot that are trying to sell to pay off their current mortgage on the property and are not interested in creative financing in any way, they want the whole amount at closing to pay off their current mortgage. Like a lot of members here I have no money to use, my credit is not too bad and I want to keep it that way because it took me three years to get it where it is after returning back from overseas while in the army. I work on the average 60 hrs or more the week at a normal job then I have my farm to take care of also which is all to put those home grow vegetable and meat products on the table that I know where they come from. I am constantly looking for an area to invest in where there is something to be made and get a team that I can trust and count on but all the people I contact have no interest in working with investors. I am an honest person and let the agents know what I am wanting to do and then I do not receive any replies back, what should one do just tell them all lies from the beginning and see how this goes. There is work involved in this, there have been many times I have thought about giving up to save me some time but I cannot do this as I want more for my family than anything else, as for myself I do not really care about this all I want is that my family is happy. Every ones situation here is different and with lots or maybe less work than others things can happen fast.

Shawn

Try working directly with home owners, FSBOs, tired landlords, Pre-foreclosures, divorces, loss of job, death in family type sellers, You do not need a team to do this. You will need a qualified buyer to purchase the property that you find and assign your contract to. Than you need to find a title company that understands and closes assignment of contract deals.
So here is what you do. Massive marketing campaign to find motivated sellers and buyers. Know what contracts are legal for an investor to use in your state. Find this out at a real estate investment club in your area or an attorney. Usually much more simple that what a realtor must use. Put the house under contract and assign that contract to your buyer, using a legal assignment of contract, take the 2 contracts with your buyers earnest money check to the title company and they will do the rest! Go to closing and collect your check. You will gain team members as you go! Take action!
Here are 4 ways to qualify a motivated seller to work with to do an assignment deal.
1. Must have equity.
2. Must be motivated to sell.
3. Must be the owner on title.
4. Must be willing to sell at a discount.
Otherwise move on to the next deal or refer them to your short sale team if they have no equity. You said a lot of people in your area (everywhere in the USA) owe more that there house is worth, this = SHORT SALE OPPORTUNITIES!!! Refer them to a short sale specialist for a fee.
Good luck,
Michael Mangham
MD Home Acquisitions LLC

Thanks for the great tip you have given I will use this wisely and put it into action also. The response I get on some ads on cl are few so I must be running the wrong kind or not in the right area but I am trying all areas until I hit the right one. Some of the properties I have come across that would match one of my buyers is foreclosures and these the contracts cannot be assigned so I am constantly looking for fsbo in the area they want and then see what I can do so thanks a mil for that great tip.

Shawn

Is this program reminiscent of the Carlton Sheets program?

This program works, but it does take some learning and experience just like anything in life. You can't just buy a medical book and believe it will make you a doctor; so you shouldn't simply buy Dean's book and expect it will make you a real estate investor. But if you treat it like an education and spend the proper amount of time studying and doing it, you will find out that you get better over time. I have been doing this for 30+ years and I would like to think I am pretty successful at it (even though the 2007-2009 period really bloodied my nose, but that's another story). I originally learned my early information from Carlton Sheets and have allowed it to evolve over the years. While Carlton wasn't perfect, it did stoke my imagination to become successful at real estate investing. And I think that is the purpose of Dean. Read his books, learn from others, do some deals, re-evaluate, repeat. There are some parallels between Carlton and Dean, but the biggest one is that they both want you to be successful with your life.

I have raised 3 children, owned lots of houses, had plenty of toys, enjoyed many things only a few have seen......and I owe to my mindset that my early real estate training gave me to accomplish it all.

Would do it again in a heartbeat.

IT WORKS if you do. DO you have persistence, perseverance, determination, and drive? If you do, you will succeed at REI. But, don't believe that it is always easy. It gets easier as you get more experience. There is a learning curve. You will need to put in time and effort, and be passionate about it.

You will be doing a lot of work, have to deal with many obstacles, setbacks, people that aren't so nice to deal with, deals falling through, buyers not following through. But, you will LOVE it; especially after your first deal, your confidence begins to build and all of your efforts begin to payoff.

You can succeed at this and make a lot of money; Dean's techniques WORK! But you must use them and apply them for them to work for you! It is the best investment in yourself you can make!

It is CERTAIN we will SUCCEED!

Dmroman,
I think sometimes that we in real estate like to generalize things. To say that the market is slow, may be overstating things slighty. Why would I say this, because real estate is market driven. Meaning, the phoenix market and the los angeles market aren't necessarily doing the same thing at the same time. I would go a step further and say that what is happening on the west side of Los Angeles i.e Beverly Hills, Century City, Santa Monica is different then Downtown Los Angeles, Boyle Heights, and Commerce, even though it is considered all Los Angeles. So just keep that in mind. There were a couple of post that really hit on the fact of knowing your market. I take it a step further and say know the market that you are "going to work" very well. I work markets out of state as well as markets in my own back yard. But I will not work a market that I don't know, because it takes you from a place of calculated risk to a place of mere gambling. And that is not what we want to do. Hope this helps.
Jeremy K.

Just look what you have learned already today and that was all free.

The more action you take the easier it will become. The more contacts you make the more people know about you and will seek you out.

I just spent a hour on the phone with someone who was here six months ago on business, and now wants to start investing here with me. I had no ideal who he was,he found me.

So just keep asking questions, the more you learn, the more you earn.Good luck.

Jim Kendrick

people are just so hesitant to spend money these days and its understandable, but thats where repuation comes in and clearly dean has a solid repuation ,spend the money and get the results. Do nothing, and get nothing.

I have recently joined the Dean Graziosi Family. It took me a while to order Dean's book, I am a skeptical person by nature. My desire to be a real estate investor keeps me moving forward by continually reading/listening to Deans books and Audio books. But doubt always seems to creep back into my mind from time to time. So I am glad that All of You Investors that have done many deals such as Michael Mangham, Bill Pohl & Zion Properties, to name a few, have taken the time to come to these forums to give encouragement to us that have not yet taken the Leap of Faith.
Thank you,
David

And not to forget Laura Johnson nor Adam King.
Thank you,
David

I was watching a little clip of Dean explaining how he bought an ugly home, rixed it up a little bit and then went on to refinance this home. Dean paid 60,000 for a home that appraised for 130,000. He took 30,000 and rehabbed the house and put the 100,000 in his pocket. OKAY! That sounds too good to be true first of all!!!

Now, what happens ifhe went to refinance and he did not meet the banks requirements on showing he had enough money to back him up? How could he refi on this property? What tactic could he use? Having the scenio that he would want to keep this house..not flip it to one of his buyers...How would this deal get done?

pls advise