30 Days Quick Cash Formula

Just got off my planned 3pm call with the REI agents that I have chosen! This is so exhilarating! The others who have said, "you just know when you know" are absolutely right. I knew within 5 minutes of talking to the agent that I had found the jackpot. The coolest part is, the agent(s) I have chosen works as a husband and wife team...they have a combined experience of over 21 years of RE experience. They are totally on the same page with everything I am trying to do. They said they were going to scour listings and do all the hard work. Their goal is to find me the best deals possible. Doesn't get any better than this! They also had no issue with sending me the cash buyers list.

I am so excited!!!

That's why they call them bandit signs lol, Geez!
Keep it up! Re: phone number--
I am using my cell to start also, on all online items, but I got a Google Voice number for the bandit signs so the city officials don't call me directly.

Alex-- awesome!

At least it is a first deal.... but no agent should swear at you; let us at him/her!

Go go go-- $500 is just fine.

Hi Alex,
It sounds like you did fine with presenting the numbers and attaching photos of the deal.
One thing that may be helpful is searching the DG video blogs. There was one particular one with Matt Larson that I recall where he stressed the importance of presenting a "whole package" to the prospects. What I am doing is asking the investors what they want to see and working it backwards.

Keep up the great work!

... marketing the property. There are great examples of property presentation for your buyers....from Chip & Andrea and others in the marketing material, downloadable PDF, that came with the RBBP. Hope that helps!

I didn't see any similar products in the DG Products section. Can someone please guide me on how/where I can purchase this. Thanks.

Good catch Alex,
That is why in the RBBP material they're coaching us to qualify our buyers-- flippers vs long term. You're right wholesaling to a flipper is much less lucrative and they are likely doing something along the lines of what we are doing (though of course, not as well-- Thanks Dean!), whereas the Buy/Hold investor is most concerned with the cashflow per month than the initial dollar amount of the sale.

Hi everyone
I just found this thread yesterday and just now finished going thru it. I will admit I had to do alot of skimming but sure is a TON of great content and answers here. Can I get a Whoop Whoop!!

Couple items I would like to add.

1) Other great discussions
Not only is this a great thread but the following FB pages have great conversations and answers on them as well. Many of you are on these but for the others, FYI

Real State (DG RBBP thread started by Tom Bauer I believe)
http://www.facebook.com/groups/243609149005312/?notif_t=group_activity

Wholesaling Houses Full Time. (many top wholesalers, tons and tons of FREE content and answers just like on here, many CASH buyers on there so find some in your area from this page)
http://www.facebook.com/groups/WholesalingFT/

2) Bandit Signs
The cheapest place to get signs that I have found on the internet is Dirt Cheap Signs.com I know a place was mentioned on here in early posts but this place beats them. Below is a post I made on Wholesaling Houses Full Time regarding Bandit signs
Dirt Cheap Signs...can do a sign and stake for UNDER $1. How? $1.06 for 100 18x24 horizontal flute sign. Cut those in half, that is $.53 and are now vertical flute for stakes. (I also cut those in half for smaller signs for polls or in the hood, so I can actually get 4 signs out of 1 18x24). Now buy 100 30" H-stakes at $.78. Cut those in half, $.39. I now have 200 signs, 200 H-stakes. They are lower to grown, which some may not like but also less wind resistant (put your phone number first, at top so isn't in the grass). So per sign (not including tax or shipping) $.92. I have found only one other place at $1.06 but their stakes were more. I've scoured the internet and have not found anyone cheaper

3) Assigning REO's
True you can't assign them like traditional thought but you can via either the double close (which others have mentioned) or by this following trick that has also come across me. You can add you buyers name on the contract later. Meaning, 90% chance this will work. If not, default back to double closing. But get a REO under contract, find your buyer, then tell title you need to add your partner to the contract. It is still closing in your name so bank most times won't flinch because YOU are still closing on the contract, then 10 minutes later, after closing you quick claim (think this is the correct term) the deed over to your buyer. You will have to have trust and communication with your buyer so they know what is going on and you still get your check.

4) Proof of Funds letters
Many of the free websites that provide POF's ask for an address. I used Coastal and I enter "investment properties in my county" That way you don't need a new POF every time. (think outside there box

5) Google Voice
Some mention GV is not in there area. Be patient and keep checking back. I tried to get one and took me a couple of weeks (back when I got mine in Dec). They release batches of numbers periodically and if not available now, doesn't mean they are not in your area. Just means they don't have enough numbers yet to release to the public. Keep checking back for a new batch. They go QUICK

Ok, my food for thought.

Have a Great Deal Making Day!!!
Troy

Good catch Alex,
That is why in the RBBP material they're coaching us to qualify our buyers-- flippers vs long term. You're right wholesaling to a flipper is much less lucrative and they are likely doing something along the lines of what we are doing (though of course, not as well-- Thanks Dean!), whereas the Buy/Hold investor is most concerned with the cashflow per month than the initial dollar amount of the sale.

Yahoo! You did it---

I'm sure I posted something similar just last week, I think. I don't think I am afraid of anything, but this was new territory and I also felt like jumping for joy!

Let this be a "Just Do It" for everyone here that hasn't made their first call yet.

Congrats--

Great update Michelle--

I will doing one in the next day, as well.

How did your Bandit Signs do this past weekend? (please excuse if you already posted that-- I just read through 5 pages bc I stayed offline all weekend).

Hi Everybody,

All I can say is WOW!!! There is so much going on in this thread, this program, and actually managing everything you have implemented is a TON of work. No wonder why Dean said, you have to be willing to do it.

Well, the awesome thing is we are doing it. Think about 2 weeks ago, or at the beginning of this thread, or when you bought the RBBP. The bottom line is that we are Real Estate Investors. We have lived the life style of the last two weeks, we have told our families, friends, buyers, investors, and even solidified it on our Business Cards. WE ARE DOING IT!!

If you are like me, you might be feeling what I have been feeling today. Overwhelmed, unaccomplished and burnt out. The issue is that, I've done 95% of the work, I have 5% more to go.

http://www.youtube.com/watch?v=YB8H5XyYRqw

What I am trying to say is DON'T GIVE UP!! Dean said this would happen. Its only a temporary feeling and on the back side of this, you get your grove and kick butt and take names!!

We are all running the race next to each other, as long as I am running next to you, I'm going to make sure you finish!

Hello all,
I see where many of us may be a bit confused... I see several comments such as I just bought the program but I don't know where this or that is.

To all just getting started:
As soon as you receive your "thank you for purchasing the RRBP" email, open it.
- the online program is all there, there is nothing coming in the mail except the EDGE 2011.
- click on the BONUS #1: 30 Days to Quick Cash Formula (that's us, that is what this thread is all about)
- there are also all other parts to the program (again they are all online)...
• Step 2: Done for You Marketing: a ton of great material
• Step 3: The Human Automation Network: more great works
• Step 4: Pick a Mentor: this has all the info we need for the mentoring calls
• Bonus #2: Your Cashflow Multiplier--- more great works

I hope this helps as it seems a few of us are a bit confused.... The program is INSTANT, all at our fingertips as soon as we purchase the program, we only have to wait for the EDGE 2011 to come to us.

Lots of energy--
Godspeed

Tina

Hang in there everyone... yes, it IS work, but it's so rewarding when done right. We all fee overwhelmed at 1st when we're still working another "real job" and then come home to do real estate.

Just keep looking to the day that you quit your job and your commute is 11 seconds...

I have been doing this full time for over 7 years now, and I STILL don't feel like I'm "going to work" every day. The prize is there, just keep your eyes ON IT!

Nick Cifonie
Real Estate Investor TV Online

I did't even think about this before, but does anyone know if there is anyway around using earnest money (deposit on each accepted offer)? This is why I've been gun-shy about submitting the offers on the MLS listings, too many tricky situations...

All I was going to do is give them a check for escrow cuz nothing goes thru until you close on the deal.So you will have time to put the money in your account from your profit..Unless someone tells Different

Hey. Great work thus far. Hope you find an end buyer and close that bad boy up.

1. Could you describe the contingencies you put in your contract?
(e.g. How many days for approval of inspection?, etc. )
2. How did you handle the earnest money?

I had a buyer email today and said they was looking to buy a home for their son for collage..But they have a Agent so how can I find them a Home if they have a agent..Is there away around this sense they cant pay Commission for my agent

Everybody has brought up good questions about earnest money. For my first couple of offers, I had just put $1,000 to deposited after 14 days. I got a lot of resistance. Selling agents are doing their job of protecting their clients and if they are going to advise them to take their home off the market for 2 weeks with out any type of deposit or investment on their end, they will laugh at you all day long. I don't really have any money (a couple thousand dollars) or want to be exposed out of my own pocket, so here is what I have changed and started doing.

Initial earnest money of $___________100.00_______ by ❑ check, on ____5__ business day after acceptance___, to be increased to a total of $___1,500_______ by _14 Calendar days or at the close of the home inspection period______.

So basically I am using 100 of my own money off the bat and then increasing it to 1500 after I find a buyer (which will signal the end of my home inspection period which is 2 weeks long).

Does that make sense?

Michelle,

Don't be gun shy what so ever about the properties in the MLS. I feel that is the easiest way to shot gun offers out. You want to make sure you are offering the right amount but your agent will prepare the offers for you. Remember....its a numbers game. You need to get offers out to start the conversations with sellers. Your agent will handle most of these which will free up your time to work on FSBOs and tired landlords.

I just told my agent in Michigan and Central Illinois to submit 15 offers in each area for me. Hopefully I'll have 30 of them out by the end of the week. I just gave them a list of properties, told them what my starting and max offer prices were for the properties and sent him proof of funds letters. I don't expect them to be done immediately. I told both agents that "I'd like them to be out by the end of the week, which would be great. Let me know how I can help you prepare them."

Don't be afraid of them. To quote yourself "But remember that venturing outside our comfort zone is where progress is truly being made--we are truly growing"

Go for it!!

Hey Alex want you thinking dealing in my home state....J/K I left that state
2 yrs ago..Hope you do well their...Can you help me with my question
About a buyer wants me to find for the kid but they have a Agent can this still work

Really the only contingency that I have modified on my contract is the home inspection period. A lot of the contracts that I am using just have a simple, fill in the blanks section on the inspection period and how long it is going to last. I just write in 14 days. That's it!

This will serve the purpose of doing the property inspection, but also will give me enough time to contact my buyers and give them a heads up and match one of them to the deal.

It's really that simple.

Choose enough time for the home inspection period that you feel comfortable with. Keep in mind, if you ask for 30 days, the seller might counter you with a different time frame and/or say "why the heck do you need 30 days!?"

Alex

Just to share my own experience as well, my agent is basically calling the sellers/banks's agents to let them know that a cash buyer is going to submit a low offer, but can close fast. The idea is to verbally discuss with them so we know if the offer will be entertained at all (e.g. if an offer much higher than mine was rejected, it's probably not going to work unless I come up with some other favorable terms). If the seller seems motivated (they'll say something like 'All offers are considered', 'Give me your best offer'), then we'll go ahead and send them a written offer. It would be contingent upon inspection as well. I'm still not sure if there's a 100% foolproof way to get around the earnest money, but I just need to send them a copy of the check for now (something like $300 might work). I could still walk away without paying them if I fail to find a buyer, but I need to protect my agent's reputation as well (she's awesome!). That's why it's crucial to have a big buyer's list so they can take whatever deal you get accepted on!

I need to put in more offers, but have been busy building a buyer's list. In fact, I just added one more buyer TODAY through the letters to cash buyers in the neighborhood - so yes send out the letters, they work!

For me, next step is to get more buyers, find more properties, evaluate more comps, put in more offers. 4 Steps Quick Cash Formula! +)

Does anyone know the number to call in for the training call that is going on right now with Joe & Stacey Jurek?

It looks like they took down the post from Chip & Andrea Weule yesterday that had the number and access code for last night's call.

Why would someone take down the post that had the number?

FYI. I never got a call back from support when I left a message yesterday. I am not impressed that support never returned my call. We still don't have a number to call for any of these trainings. Now I am stuck in the same situation as yesterday. Very frustrating!

...

Hey guys,
I did my time at the county office today.
Yes I looked up all 162 properties. So When I did this I found that many of them were bought by one of the following.

1. banks
2.construction companies
3. ______Family Trust (?)
4.LLC's
5.Someone who lived in the Property.

Then there was a small handfull that bought the property and lived at a seperate residence. However none of them were repeat buyers.

So, does any of this look/sound promising? I don't see where the gold mind is here. Am I missing something. I need help understanding this.

Thanks,
Karemah

Wow Alex, COngratulations on your achievement!! Let me see how it ends.

I can not believe how many of them are telling me I can not do this !

lol...okay, so I got in touch w/my agent (or actually his voice mail) about submitting low offers; offered to make a contract "template" to make his job a little bit easier; told him not to worry about showing houses until after an offer has been accepted (via adding a contingency clause allowing for inspection 10-14 days after offer gets accepted). Told him to call me tomorrow to discuss the matter in further detail (plus I wanna get his opinion on what we should do about Earnest Money and do like Awaterloo does and only pay $100 up front and increase after 14 days or until initial inspection). Now I'm gonna see what this REA is really made of

I can almost hear the click-click-click of the rollercoaster right as it's about to go up and over the biggest hump! I am a sucker for rollercoaster though lol...

I'm sorry to hear that your REA search is bringing on such negativity and criticism. May I ask what you are saying to the REAs, or how you are approaching them, that could be causing them to react that way? What many of us have figured out is that it's all in the wording--you can ask an REA the same question two different ways and get two completely different answers for the SAME question! Please let us know that way we can help!

The construction companies, LLCs and family trusts are all great buyers for you to send a letter to asking if you can add them to your buyers list.

They are all cash buyers and sometimes you'll find these guys are buying many houses per month/year etc. so they are happy to be on your buyers list! Banks may also be good but I haven't explored that route yet. Some banks represent funds for their investors and they buy properties for the fund portfolio so this is another type of buyer. Nonetheless, I think you have more there than you realize. Even the handful of individuals that have different addresses than the home they bought are great. Handful is better than no full. It is a place to start. When I cross referenced names of cash buyers I often found they owned several properties so they were added to my HOT list and sent letters first. Hope this helps! Same info posted to your PM question.