30 Days Quick Cash Formula

Hey Guys

You know we work really hard never to have glitches.. But we did last night and unfortunately tonight as well.. The call went off great tonight if you called in to listen. However if you tried listening online you were not able to hear me..

So sorry it was a technical thing that the online webinar company swore they had fixed and tested. Obviously not..

Here is the good news. We recorded it and it was a great call.. We will take that call and get it up online tomorrow and send you all an email to go and listen.. Make sure you do. It's important at this time in your evolution..

Again I am so sorry for any inconvenience. You know that is not my style.. And I promise it will never happen again..

Please look out for my email tomorrow and make sure to listen to the entire call since I share some great info..

Thanks
Dean

Thanks for the re-inspiration.
I'm glad to hear you're spending more time with your kids. Trust me, they'll be out of the house faster than you think. Don't waste a minute!

Faithfully,
Andy Sager
Proudly DG's AndyS

Ceasar, from CA, who was on the call on Tuesday, Please contact me or smurfy

Andy Sager
DG's AndyS

Hey Dean,

Thanks for the call and for all you do to keep us moving forward in RE. I think the five nights a week with your amazing mentors for five weeks was sheer brilliance. Every weeknight, regardless of "life", we were all pulled back into RE... day after day, week after week, until it stuck, until we took action. And then we had dg.com, and this thread in particular, to help us along when we encountered an obstacle... not to mention the inspiration from following along with others on their journeys.

Kudos to you for choosing to make your kids your top priority. To be able to raise your kids and watch them grow is priceless. So enjoy! You won't regret it.

Lotsa love from all of us in DGLand....

Aniko

It was a great call, and thanks also for your awesome bonus at the end! No worries on the glitch, it wasn't your fault, and even if it happens in the future, it still won't be your fault. So, no one can blame you for that, and you absolutely DID make up for it!

It's pretty awesome that you realize the value of spending as much time with your kids as you possibly can at this early age because they DO grow up far too fast. I still can't believe my son is 31 now, and my daughter will be 21 in a few months.

Thanks again.

I guess I am just surprised by the e-mail. If she was interested in representing me I was expecting her to ask me what I wanted her to provide me.

Regardless of whether I decide to keep her as my agent I am interested in getting the details on this investor trying to sell 67 properties.

That would be one really great start to my career to close a deal like that. I have no buyers yet as I am just now getting started on the blue print but if the numbers match up I will figure something out somehow. A couple million dollars or so would be a challenge to find but just thinking outside the box a little maybe I can find a business or some other organization that needs a good place to invest their money. If done right, Real Estate can be a very safe place to realize good returns.

How are things going for you out east? I lived in the DC area for a while. Investing in Real Estate is really big where I used to live however when I lived there I did not realize that you could get started with little money. The phrase you've got to spend money to make money was something that many people around me back then used to say a lot. I guess I bought into it without really doing my own research and I let the blind lead the blind.
Much success to you and I hope you take over the entire east coast.

A very cool idea. I will give it a try.
FDr

Mark, went thru most of post and links. Learned so much in such a short time, thx.
fdr

Hey, everybody, Tonight's Call with Dean was awesome,
I listened it on the phone, so i didn't even know that it
was a glitch online again.

Thank you so much, Dean, for going on our thread and apologizing, even
though you didn't have to. Thanks for encouraging us in any way possible.
RBBP is invaluable!!
Enjoy the time with your kids, Dean
and have a good night everybody.

Dennis

Any suggestions on how to calculate rent rates on a property?

I am currently running numbers and I am not sure how to accurately calculate rent rates. Sometimes Total View lists estimated rent rate. Sometimes Only Zillow shows their estimate. I have no idea how they calulate it so I want to check thier numbers. Thank you everyone for advice and suggestion.

Hey guys, I'm working with my RE attorney on double closings. Would you get a title insurance? It costs a few hundred bucks to insure my title for literally an hour or so (maybe a few). The likelihood that someone will file a lawsuit within that day is pretty low after all. My attorney recommended me to get it, but again I'd probably say the same thing if I were in his shoes. I just think these are things that people tell you to get 'just in case', but are really not worthwhile investments.

What are your thoughts?

Hey Cory, I'd suggest a few options:
1) Ask your realtor, he should know if he's been in the field for a while
2) www.rentometer.com, just plug it in and see if what number you have is reasonable
3) Check Craigslist For-Rent Ads for similar properties in the area. Usually the final rent would not be that far off from the asking rent, unlike buying/selling homes.

Initially, I looked at TotalView and Zillow for guidance, but after a while I just find that the numbers aren't always in the right ballpark. Personally I don't rely on them so much. Hope that helps!

DEFINITELY get the title insurance. It will protect you if a problem or defect with the title were discovered months/years later.

So, after I transfer title to the end buyer, a title dispute comes up years later, I will still be liable for any damages/claims?

Am I the only one that dislikes RE Agents, they are arrogant know it alls, only know how to buy and sell retail, dislike putting in low offers and thats their good points.I have had a few deals go south cuz of these useless snobs. One told my seller that the subject to method I was doing was illegal, I lost 10K because of her. The home owner wont give me her name or I wud file some complaints. And a few good ones I liked wudnt help me much, to lazy to put in offers and demanded I write $1,000 checks for each offer. I had one tell me outright lies yesterday, he didnt know I had talked to the seller. These people are at the bottom of the list, right above contractors and lawyers. I have heard of people having good experiences with them, maybe they didnt know any better.

Thanks again for your input. When rentometer did not populate on totalview I assumed that it did not have info on my listing. I went diretly to the site and ggot the info.

I also followed up with the agent that I was leary about. Turns out that she has been approached by a lot of people with scams or gimmicks and she thought I was one of them. She has provided me with additional info on the investor with 67 properties and I am running numbers. Don't have a buyer for something this big but if the numbers work I will find one or a few somewhere somehow.

Anyone here from Michelle or Atwaterloo lately? They were so prevelent on this thread. I noticed that Michelle created another thread regarding some concerns. I hope she did not talk herself out of this. I really think she has what it takes.

Absolutely. Ask your attorney to explain what it means to have a break in the title chain if you'd like a more detailed answer. One of my mentors is a closing attorney, and explained the concept to me.

My mentor presented a case where someone purchased a house that was built on land that was used a trash dump more than 20 years prior. It turned out when he got ready to sell it, that his buyer ordered some environmental tests. The tests revealed a problem that would have taken $20K to $30K to fix. He had title insurance, but one of the previous sellers didn't, and that person (or his/her heirs) got stuck with the tab.

I've been there, and I can relate. However, I urge you to keep the faith, and to keep searching. Some amazing ones are out there. I spent years running into literally thousands of the wrongs ones. Now, I've found several really good ones in multiple markets. Unfortunately, I don't know any in Central CA, since I've never done any deals there.

This is what I have done a couple of times with realtors that I knew were good and were listing agents for B of A , Chase, Fannie mae Etc. They would not give me the time of day at first. Most likely rightfully so. I bought a couple of their properties through other agents and called them and said, "Hey that one of yours over on Buchanan I bought. Check it out, that was me. I would have much rather let you double end the deal. Maybe the next one we can work together on?" Do this 2 times and you will get their attention. After all they want to make money on straight forward deals.
I do lease options but NEVER through an agent. Same with subject to. I think those work best dealing directly with motivated sellers on unlisted properties.
Some agents have no clue, just move on, no hard feelings, NEVER burn bridges in this business. Some have heard it all before and just want to see proof that you can produce and they can be properly compensated for their efforts. Just like you and me!
Are you familiar with the SAFE act of 2011? Just be careful on your "subject tos"

Remember, deals need to be win/win for everyone involved, even the agent!

Michael Mangham
MD Home Acquisitions LLC

Anyone know of a good website to check market trends in a given area over a certain period?

That depends upon the kind of info for which you'd like to obtain the trending. You could check Trulia for some trending.

Thanks DP2. I'll try that
I am looking for the trend on home values over the past few years. I am new to this area. I have gathered from talking to residents and my realtor that Tulsa, OK has not been hit nearly as hard as most of the country but I would like some stats. Years ago I had stumbled acroos a website that provides percentage decline for home values. I believe it was a gov't site that was country wide but I can not find it.

i love the picture! are you in OK? i have one daughter in Owasso and one in Bixby; i am moving to Broken Arrow in a little over a week.

i would be careful on that $80k house; if it needs remodeled, i would say you won't have enough spread in the deal unless it's very little work.

you might also try www.zilpy.com. i really like it!

i should have read this post first before i asked if you were in OK. duh!

Tulsa was not hit as hard as many areas were. it's a pretty nice area to live in and i'm glad to be moving back! hope you enjoy it.

Dear dccapital,
The above info is great! I thought I had a good thing with a cash buyer with mobile homes and it has so far fell thru. I do have two cash buyers for homes that just say find the deals. Your info will give me confidence in dealing with a realtor.
Thank you
Dallie

Mmmmkay...just an update (I know, its been awhile)...

Well that landlord did view the prop, but NEVER called me back to let me know if he was or wasn't interested (grrr); and still havent found a buyer for that same prop. guessing its the price, location, or both. I've tried to re-negotiate the purchase price w/the seller but they're not going to go any lower.

Sorry for the absence otherwise. My daycare (my fulltime business) has taken a SERIOUS hit (to the tune of a $1500/month loss) due to 3 of my kids starting kindergarten and 1 of my kid's dad losing his job. I've been having to focus much of my time marketing for more kiddos and even possibly looking for another job all-together.

Don't worry though, I'm still keeping at it, just not w/the same intensity.

Thank you for your concern and compliment I really appreciate your support and genuine interest!

Despite recent developments in my full time business (read my most recent post previous to this one), I haven't been posting much lately. But I am still going at it, just not with the same intensity. Alex has teamed up w/others in his area and is facing many of the issues I've come up against (getting props under contract but not being able to pass them off to buyers). This truly is a trial-and-error period for us both full of disheartening disappointments, but we're still hanging in there!

Hi Linda,
As you noticed I am in Tulsa. I am from IL though. I just moved here in June.
Reagrding the house for $80k; Yeah I am nto really even considering that one. I relaize that the asking price is not the negotiating price but it belongs to the realtor. She has a LOT of the right kind of experience so I do not want to ofeend her with a low offer on her own property. I just told her that am mostly interesting in hearing about the big fish with the 67 properties.

Just curious anyone else working the Blue Print in Oklahoma?

Good to hear it (That your still in the game that is). You started this thread which seems to be everyone's focal point for discussing the RBBP. We owe you a lot for creating it. Regarding your personal business; I certainly understand what you are gong through. I did not have a biz but lost my job just 6 weeks before I was blessed with that wonderful young lady in my pic. I brought in 70% of our houseold income.
I sent you a PM.