30 Days Quick Cash Formula

Also... (I had another thought)

The inspection clause is just there to get you out of the deal if you need to. You'll do your initial inspection when you walk through after getting your offer accepted. I wouldn't ever spend $ to inspect a house I'm just flipping.

Remember, if you're flipping the place, you don't care WHAT condition it's in, as long as the numbers work and your buyer is happy. Your BUYER may have it formally inspected... but likely won't either. I can walk through a house and in 15 minutes or less know within a few thousand how much the repairs will be.

The best deals are the ones that need the most work.

Also, after you sign the contract and tie it up, tell your Realtor "I'll need access to walk a few people through the place before we close... inspectors, possible partners, maybe even someone I'm going to sell to later will need to look at it". That way you can get your buyers into the place to take a look... try to get access without the Realtor being there at first, otherwise tell your buyers not to talk money or anything in front of the Realtor. Just introduce him as "a possible partner" or your "money guy".

Your friend and fellow investor,

Nick

Tina-I don't have anyone in my seller's bucket list yet, but I'm working on it. Besides bandit signs, I'm going to start calling For-Rent ads in this Sunday's paper. I'm also going to contact my previous landlords and see if they would like to be investors or sellers. I don't remember their addresses, but I do remember the addresses of the houses I used to rent from them.

Friday evening I'll be posting bandit signs ninja-style

That's great info Nick and something we should all be aware of. There's certainly going to be other people out there doing exactly what we are doing. Probably going to run into other DGer's

Michelle
Here is what I know(which isn't much). The difference between the two is two closings at once as opposed to one. With a double closing the price on contract A will be different than the one on contract B. Once contract A is signed the property is yours to do with what you will meaning bluntly that it is none of the sellers business what you do with contract B.

With the assignment of contract you will have to reflect the total price on the contract so you get paid correctly. Think of it like a lien on the property. The seller gets what's due to them and then you get paid the balance. Some states require you to disclose this to the seller. I've never found a seller to say no at this point. They're just happy to sell their house finally.

I hope this helps

Bob

I'm a bit confused about some things. Hoping someone can shed some light on them.

1) I contacted a realtor earlier today and she mentioned that she's willing to submit multiple low offers, however I would need to put up $500 for each offer, regardless whether my offers were accepted or not. However, when Matt Larson was on the webinar on Saturday, he mentioned he only puts up the money after the offer's been accepted. Was the realtor I spoke to just not creative enough or do I really have to put up $500 x 25 offers a week to be taken seriously?

2) I mentioned to her that I would like a list of expired MLS listings and that I would be more than happy to pay her $500 for each property I close on from that list. She immediately said she wasn't allowed to send me that list. I was a bit surprised by that. This particular agent belongs to Remax. Is this a Remax policy?

Wow,I'am really impressed with all of this great information,although it is a bit overwhelming to someone who is just getting started!! Thank you all very much!!

Cuz the one you have just doesn't get it. She's not willing to do the work she needs to do and there are realtors out there who will w/out asking an arm and a leg for it. She wants EM for each property you make an offer on??? That's just ridiculous! Go back through the earlier pages of this thread where myself, Awaterloo, and a few other ppl discuss finding the perfect REA.

Expired MLS listings? Do you mean the list of all cash purchases made in the area w/in the last 90 days? Remember, it's all about wording. Regardless, this lady sounds like a tool (for lack of a better, meaner, word). Tell her she's fired; or you can be nice and just drop her silently and continue to make phone calls to other realtor offices. The latter is prob the more professional option

@ michellecaseyks Your post made me giggle

I'm planning on calling more agencies tomorrow. I didn't feel she was a right fit, but I wanted to see if that was the norm with agents before I made any more calls. Thanks for the info

As for the expired listings. I'm talking about properties that used to be in the MLS but were never sold and the sellers gave up and never renewed their listings. Carol Stinson mentioned she finds many of her sellers that way.

Thanks Bob for your insight! I'm getting pretty grounded about the differences between assignments and double closings; it's the differences between double closings and simultaneous closings that I'm completely lost about.

On the subject of assignments,the 30DayQCF has us making offers on props listed on the MLS, which (if I'm understanding correctly) aren't able to be re-assigned. I'm just wondering how I'm supposed to keep the fact that I'm intending to do a double or simultaneous close from my realtor--don't they eventually find out during the process?

Ahhh-I gets it! I actually have an investor interested in a foreclosure that has expired from the listing in May! Do you have a specific prop in mind? I looked up the address of the expired listing on my county's treasurer website (which happens to be the same address). Mr.Nick Cifoni (sp?) wrote in one the earlier posts (page 11, 12, or 13) to me about this very subject. Check it out!

I don't know why the realtor couldn't give you the expireds, hopefully someone else here has an answer for that :/

HELLO EVERYBODY......(WITH GROVER VOICE--HAHAHHAA)

I too am new to Deans program....and in a financial jam with the Tax Man....the IRS and the DIVORCE COURT breathing down my neck !!! You think you have probs !!!

I want to thank everyone who are making great suggestions and giving useful advice as to how to deal with the rejections that Realtors, Banks and Negative Nay-Sayers always throw in our faces.

I have to make this work.........AND FAST !!! I look forward to all of us getting out first deal....and will contribute any help I can provide.

I have a q......I have not received my RBBP PACKAGE YET--Just joined MONDAY.........so those of you who have it already........is there a listing of "CASH BUYERS" avail to us ??? I thought I read that Dean already had a listing of the three things we need the most :

1) Deals in our area.

2) Transitional Funds.

3) Cash Buyers from all over the country.

(I think one member already posted a "GHOST LISTING" and received as many as 5-6 calls on the property from eager cash investors)

Thanks again to everyone for your q's as well as ans or suggestions. Together we can make this work for all of us.

THINK POSITIVE !!!

CHERRYPIE

OK, I'm all up for an LA-LV-SD Super Group! We will cover quite a bit of ground but at least we'll all have each other!

Get back to work we have deals to get done!! Letters going out tomorrow for the buyers list exercise, been another really great productive day with RBBP, RE rocket booster program!

"Don't over think just do!" Keeps me moving forward on the 30 day plan.

I never heard who won the home ?!?!?!

Does anyone know who it was...and will they keep it for "CASH FLOW" or sell it to an investor ???

Alex, I predict you will be an Inner-circle Superstar within a year! I've been following this thread for the last few days and I love the amazing interaction going on here. I don't have the 30DQCF, but I DO have four of Dean's books. This thread has some GREAT info for all of us, but its getting so long that locating the information is getting more difficult. I kept notes on posts that had good stuff I wanted to remember, so I thought I'd include it here as I'm seeing questions asked that were asked/answered already earlier in the thread, but they're now buried.

my notes are referenced by comment # (comment # appears in the upper right corner of each comment box)

Quick reference to comment #s that are particularly helpful:

8/55 -finding a realtor to work with
9/308 – what to say to agents you've prescreened
11 - getting recent cash sale lists
14 - What to do if a Realtor asks you for a pre-approval
26 - why you need cash sale list
30/326 - how to train your agent
42/121/205 - finding buyer contact info from cash sale list
58 – examples of successful ghost ads
95 – links to proof of funds sites
96/320/333 – have agents begging for your business
116/119/297/327 – what to say to buyers responding to your ghost ad
155 – qualifying cash buyers
160 – google voice for US local phone numbers
185/292 – bandit sign dos and don'ts, keeping track of signs
186/333/375 – control your contract,important clauses/CYA
211 – fees, the fun part!
243/258 – 'competition' is a good thing
367 – example of ad looking for buyers

GOOD STUFF!!

Spoke to two agents today and both are on board. One went to great lengths to tell me about the investors she is working with currently, what they're looking for and in what areas. CHA-CHING

Sent my requests off to them this afternoon. Can't wait to hear back from them

As always...Good Luck Everyone

Yes, that what I am thinking to do... thanks for support and help it's always appreciated... sending a lot of strenght

Hey there...

I am from United Kingdom and I have no idea which area to pick to work with in US!!! What criteria should I look at to pick an area in US... any advice would be REALLY appreciated...

Take care everybody and thanks for so many great posts, they are really really helpful with moving forward... let's keep going...

That's awesome that you did that! I, for one, appreciate it

I received an all cash buyers list in my area from an agent I am working with. In Dean's video he says that this list should include the names of the people who bought the property. The list I have only has property info and the sold price, but no names of the buyers. The list says it's powered by 'CRMLS Matrix'.

Did my agent give me the wrong list? or did they exclude the buyers name when they created the list?

Any advice would help...

Thanks!

Solosza, this has been discussed before. Essentially...

1) You have to go to the local county website (search for it on Google)
2) Look for tax records/bills section (or something to that nature)
3) Search the address of the property and you should see a particular 'parcel'
4) The parcel will show the owner's name and the address the tax bills are sent to. You will use this address to mail the letters to your potential cash buyers.

I'd recommend to get familiar with the county website, but if you run into any roadblock, just let us know!

Open links by right clicking on them and selecting "open link in new tab" that way you won't lose your place on here.

Thanks to Alaskaren for compiling the list, that helped a lot!

For those of you finding this by an outside link, this Table of Contents is for the 30 Days Quick Cash Formula (A RBBP bonus) thread started by our very own Michelle. Click Here for the beginning of this thread.

QUICK REFERENCE TO COMMENT #S THAT ARE PARTICULARLY HELPFUL:

QUICK SUMMARY OF 30DQCF FOR BEGINNERS - #733

WORKING WITH AGENTS

• FINDING AN AGENT TO WORK WITH - #8 #55
• WHAT TO SAY TO AGENTS YOU'VE PRESCREENED - #9 #308
• HOW TO TRAIN YOUR AGENT - #30 #326
• WHAT TO DO IF A REALTOR ASKS YOU FOR A PRE-APPROVAL - #14
• HAVE AGENTS BEGGING FOR YOUR BUSINESS - #96 #320 #333
• MAKE YOUR AGENT LOVE YOU - #1113 #550

WORKING WITH YOUR CASH SALES LIST

• WHY YOU NEED A CASH SALES LIST - #26
• GETTING RECENT CASH SALES LISTS - #11
• FINDING BUYER CONTACT INFO FROM YOUR CASH SALES LIST - #42 #121 #205
• USING GOOGLE EARTH TO FIND WHERE YOUR BUYERS ARE BUYING - #1510

WORKING WITH GHOST ADS

• EXAMPLES OF SUCCESSFUL GHOST ADS - #58
• REPLYING TO YOUR GHOST AD INQUIRIES (by email) - #116 #155 #297 #327
• REPLYING TO YOUR GHOST AD INQUIRIES (by phone) - #886 #119

EVERYTHING ELSE...

• LINKS TO PROOF OF FUNDS SITES - #95
• GOOGLE VOICE FOR U.S. LOCAL PHONE NUMBERS - #160
• BANDIT SIGN DO'S AND DON'TS - KEEPING TRACK OF SIGNS - #185 #292
• CONTROL YOUR CONTRACT - IMPORTANT CLAUSES / CYA - #186 #333 #376
• FEES, THE FUN PART! - #211
• ”COMPETITION” IS A GOOD THING - #243 #258
• EXAMPLE OF MSG ASKING BUYERS FOR CRITERIA - #367
• MAXIMIZING TIME & CREATING EFFICIENCY - #784
• BREAKDOWN OF AN ASSIGNMENT OF CONTRACT - #805
• PROPERTY VIDEOS & QR BARCODES - #1210
• HOW NOT TO PAY EARNEST MONEY OR INSPECTION UP FRONT - #1554
• PAINT COLORS FROM GLIDDEN (Home Depot) - #1737

If anybody thinks any new links/post numbers should be added, by all means please send me a pm and I'll throw it in.

__________________

Mark K.

Life Disclaimer: Past Failures are NOT indicative of Future Results.

Real Estate Glossary - Click Here for PDF

View My Everyday Blog - Click Here

Thanks dccapital this is just what I needed to get started. I guess I've been afraid to make the calls I need to make. This has greatly inspired me. Thanks again.

annettebates

Per Mark's AWESOME suggestion, I copied and pasted the "quick links" into the topic description! Thanks Karen for making those notes

Awesome you guys! Your time is really appreciated! I placed calls to DG yesterday and ended up leaving a message for tech help to figure out if there was a way to add a search to this thread or if they had advise on how to org. this-- and you guys did it!
I'll let you know if there is anything else we can do but this is awesome!

I sent out numerous invitations to agents on Trulia. Here is the message:

The first short question:
If you're a RE Agent exp./interested doing multiple quick-cash
deals w/ a REI to turn a $20K profit, e me, pls. SFR starters-any zip.
Thank you.

The Details:
Hello, I've been in deals for 5 yrs and am ready to build my own
team. My strategy is to buy/fix/sell multiple deals, turn them
quickly and realize a profit of 20-25K on each. I have a tried
and true strategy to find and do these deals but can't do it
without an energetic team. If you are an investor yourself
and/or accustomed to working with investors, please get in
touch!

I'm also looking for a RE Attorney / Title Co specialist.

Thank you, in advance for your time--
Tina Hague

Here are my responses:
(2) Agents said it sounds like I will be attending Auctions-- they can help
(1) Landlord said it is bad timing, already been tried and done, not possible
(2) Title Co's responded saying they can help
(3) Agents are interested
(1) Agent invited me to an Agents Mastermind meeting

How should I answer to the the ones who feel I described an Auction Buying scenario?

Much Appreciated--

Here is how I responded to the Landlord that said we can't do what I described--

Hello XXX,
Thank you for your response. My strategy does not involve picking up deals at auction, but I do have a knack and marketing strategy to acquire properties at deep discounts.
If you tell me what your criteria is (you are a landlord, so it looks like you buy) if I brought you a better deal would you be interested?

Thanks again--
Tina

I just purchase RBBP on Saturday & I'm new to the investor's world, I'm a Realtor but move out of state I'm license in.

I contacted a Realtor and he sent me listings. I just requested list of properties that sold for cash. Waiting to hear back from him.

I have to get a list of buyers fast - any advice??? Also, if a house is price at $80k how much should I submit an offer for?

need help...

The first REA I called asked why I needed a cash buyers list and said that private names and that sort of information is proprietary and confidential. Am I actually asking for a list of people who have paid cash for properties? Or a list of PROPERTIES that have sold for cash? Please clarify.

I posted a couple of days ago and I don't see it on here. I asked Awaterloo if wholesalers can be used in this process. I find all kinds of wholesalers but not very many cash buyers. I also am wondering when using TF if a person still needs to use a title co. for both closings when using TF. Does any one have any answers to this? I also want to know if anyone is doing any of this at a distance and if they have had positive or negative experiences. I don't think I will be able to do the RBBP in my own area, there are too many negative people here in the RE profession. I live in SE Iowa and have noticed some people in Chicago, are there any in Des Moines, that is where I would like to do this. It would be good to get a group together but I would like to talk or email anyone around Iowa. Thanks for your comments.