Making Offers on Properties

Have you contacted FSBO's? I would target those first and foremost. Contact the homeowner, put in a verbal offer, if you're offer gets accepted, lock the property up under contract, find a buyer, and collect your fee. What I just explained is an assignment. That is the easiest way to start in real estate w/o any money out of your pocket or credit.

Another way to go about it is to locate a equity partner to go into this with you. You can provide the sweat equity and the leg work if they provide the financial backing.

Destrie

Hello Destrie, thank you. What is the best way to locate an equity partner? Also, what is the best way to find FSBO properties? I have no transportation so I need to find ways on the internet if possible. The above is still refered to as an assignment?

Thanks
MJ

You could look online for both. Type in your state with FSBO. Try looking on craigslist as well. Also, you can try to search for equity partners online. Try craigslist..post as equity partner needed for investment properties.

Destrie

I will try your suggestions Destrie, thank you.

MJ

Check this link out. There are a lot of resources on this site. You should take advantage of all that is offered for...um, FREE!! invest some time into this site and ideas will fly your way.

http://www.askdeang.com/

There are other calls here too! I just listened to this and now I have to digest all this exciting information. I have to re-think a couple things too.
By the way what are your goals? When you know what they are then you can play the game right and win every time!!

I wish you the best of luck and hope you find everything you need here at the DG website, and welcome aboard!

Earl in MI

It is great to meet you and welcome to our DG family!

First in regards to qualifications. Get yourself a transactional funding company that will give you a proof of funds letter to submit with your offers. If you do not have one send me a PM and I will refer you to one.

Next in regards to your offers... where are you finding your properties? Who are you submitting your offers to? They sound very negative so I am assuming it is a Real Estate Co ( no offense to anyone). Find yourself some for sale by owner properties on craigslist or other classified sites. They are the easiest to work with and often do not follow "a standard way of doing things".

hope this helps!

Yes, I agree with freeindeeds comment about a Proof of Funds letter. There are a number of sites that offer free POF letter. All you have to do is enter the info and it is emailed to you within seconds. Your newest favorite phrase as an investor will be I can close with all cash within 30 days. From what it seems like you are saying, the POF letter seems like all you will need as it sounds like maybe agents in your area may want a preapproved letter for funds or a Proof of Funds letter to submit with your offers. I'm not sure what area you are in, but in every area there will always be people who will say something doesn't work or it won't work in this area. As Dean and many of his students as myself always say, the strategies work in any area.

There are answers to practically every question you can think of on DG's site. Being that you are just starting, I know a lot of this language will seem foreign, but search throughout this website or even type in basic keywords and you will be amazed of the wealth of info.

In reference to POF letter, here is a link to an older post to a member on this site about a site that offers free POF letter. I have used it as well for my POF letter.

http://www.deangraziosi.com/real-estate-forums/buying-foreclosures-reos-...

I have FSBO where the owner needs to move out of state soon. I found it on forsalebyowner.com and sent him an email letting him know that I may be able to take over his payments until the house is sold so that he can move without the burden of making two payments on his. He's interested in this option but is very skeptical about it. I think its a great deal where I can buy "subject to" and then lease/option it. Any advice on the wording that I should use to get him to agree to it without putting any of my money down? I don't wanna lose this deal!

Thanks DGers!!

Get a "Proof of funds" letter from www.coastalfunding.com. it is free and will get you in the door. This is a transactional funding resource and should only be used as a proof of funds or a double closing.