OfflineIMPORTANT!!! Before you ask a question, please go through the thread's Table of Contents via the link below. Your question may have already been answered!
http://www.deangraziosi.com/real-estate-forums/everything-else/86517/30-...
Topics of regular discussion:
*Finding the Perfect Real Estate Agent
*Building a Buyer's List
*Ghost Ads and Bandit Signs
*Assignments VS Double Closings
*Contracts and Purchase Agreements
*Earnest Money
This will be updated as progress is made 
__________________
~Michelle Casey
"Now all glory to God, who is able, through his mighty power at work within us, to accomplish infinitely more than we might ask or think."~Ephesians 3:20
That's awesome!!!
How much did you pay for the duplex? Break down the numbers so we understand the deal!
I'm still negotiating the final price with my contractor and waiting to hear back on an investor who wants to buy this half duplex from me. It's been 2 weeks after I purchased the prop, so I'm definitely behind on schedule!
Don't get me wrong though, I'd probably go for the class myself. So I totally agree with you that you should get the knowledge necessary and take action! I emphasized the action taking part because most people fail at that (myself included).
Well, after I sell this prop I'll probably only get 30-40k profit, in a couple of months hopefully.
PM me your address once you close the deal, I gonna dig out my Fandago gift card and mail it to you!
Have a great weekend everyone!!!
Real Estate Investor, if you would like the chance to work with me in the US East Coast, send me a PM (Private Message) anytime to see if we are a good fit for each other.
Wishing you abundance,
Ken Siew
I am very excited about you moving forward and profiting... keep going forward in the same spirit... your post are like an encouragement for all of us...
take care
Success is when you feel the fear and do it anyway...
Ken, the deal is not done, so don't mail anything yet. We bought the duplex for $54K and we are going to do an owner finance deal for $64K. The buyer will put $13K down and then make payments at a 12% interest rate for 7 years or 84 month. The payments will be $900/month. So, when it's all said and done, the new owner will have paid $88,624.
This buyer already owns 10 other properties outright. If he defaults, we will just reposess the property and start over. Sounds like a win/win for us. BUT, and a but BUT, we don't have any paperwork on this yet, no deposit, no nothing, so it's not over. Matter of fact, we tried to meet with the guy today and he was busy and said he would call us later. I then told him that we were still marketing the property and that did not seem to bother him. SO, this is definitely not a done deal. It did open our eyes to a great alternative for any other buyer though. If you are looking to do a deal similar, just look at the website http://www.bankrate.com/calculators/mortgages/amortization-calculator.as... and it can calculate your payment and such for you. -Susan
Yes, some swaps are trades, and others are closer to bartering. The mechanics of how one works will depend upon the underlying details of that deal. For example, I know someone who swapped a pickup truck and a house in exchange for another house. I know someone else who swapped some computer work and a note for a house. And the list goes on. . . .
Keep in mind that no 2 swaps are exactly alike. The details will depend upon whatever the primaries negotiate.
its called a 1031 exchange--for more info type '1031 exchange' in search box & hit enter
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Yes, some swaps are trades, and others are closer to bartering. The mechanics of how one works will depend upon the underlying details of that deal. For example, I know someone who swapped a pickup truck and a house in exchange for another house. I know someone else who swapped some computer work and a note for a house. And the list goes on. . . .
Keep in mind that no 2 swaps are exactly alike. The details will depend upon whatever the primaries negotiate.
its called a 1031 exchange--for more info type '1031 exchange' in search box & hit enter
A 1031 (or Starker) exchange is only 1 of many different ways to do a swap. Yet, I intentionally opted to not focus on 1031 exchanges in my previous post, because I didn't want anyone to get distracted with the details that are unique to those kind of swaps.
In my area your not allowed to post bandit signs or you'll get a fine.How are you guys finding cash buyers.I'm new and really dont no where to start.
Susan, I totally get it. I'm in similar situation, got another investor who's supposedly very interested in buying the property from me but he doesn't seem to be very responsive. However, his agent will give me a response tomorrow night so we'll see!
Owner financing a deal to another investor is obviously a possibility, but I've never thought about that. I love to hear stories like this
I used that website a lot too, or I'd use Microsoft Excel to calculate the loan amortization schedule
This buyer already owns 10 other properties outright. If he defaults, we will just reposess the property and start over. Sounds like a win/win for us. BUT, and a but BUT, we don't have any paperwork on this yet, no deposit, no nothing, so it's not over. Matter of fact, we tried to meet with the guy today and he was busy and said he would call us later. I then told him that we were still marketing the property and that did not seem to bother him. SO, this is definitely not a done deal. It did open our eyes to a great alternative for any other buyer though. If you are looking to do a deal similar, just look at the website http://www.bankrate.com/calculators/mortgages/amortization-calculator.as... and it can calculate your payment and such for you. -Susan
Real Estate Investor, if you would like the chance to work with me in the US East Coast, send me a PM (Private Message) anytime to see if we are a good fit for each other.
Wishing you abundance,
Ken Siew
Yeah I'm familiar with 1031, in fact I have an qualified intermediary available in case I want to use this tax-deferred exchange. It's part of my strategy to trade up to higher value properties.
I believe dp2 was just talking about swapping real/personal properties with other owners in general. Both are very useful methods to strike a deal and make more money!
Yes, some swaps are trades, and others are closer to bartering. The mechanics of how one works will depend upon the underlying details of that deal. For example, I know someone who swapped a pickup truck and a house in exchange for another house. I know someone else who swapped some computer work and a note for a house. And the list goes on. . . .
Keep in mind that no 2 swaps are exactly alike. The details will depend upon whatever the primaries negotiate.
its called a 1031 exchange--for more info type '1031 exchange' in search box & hit enter
A 1031 (or Starker) exchange is only 1 of many different ways to do a swap. Yet, I intentionally opted to not focus on 1031 exchanges in my previous post, because I didn't want anyone to get distracted with the details that are unique to those kind of swaps.
Real Estate Investor, if you would like the chance to work with me in the US East Coast, send me a PM (Private Message) anytime to see if we are a good fit for each other.
Wishing you abundance,
Ken Siew
It's like-kind property exchange, that you would do if you want to defer paying your taxes.
The idea is that you're have bought the property and now thinking about selling it, so you have to pick an another property that would cost you more to buy than the original one.
In the process you are acquiring a bigger property and not paying taxes on it(at least for now). It's like a monopoly, selling 4 little houses and getting a big hotel.
YOu can find a lot of info on that on
http://en.wikipedia.org/wiki/Internal_Revenue_Code_section_1031
- Truly believe in yourself! -
Dennis
Hi Nick--
Glad to hear you're in the success academy. You must have RBBP also.
I'm in Vegas, too. I may not be a mentor, as I'm still new, but PM me and I'm happy to help if I can.
Tina
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
You do so well at staying in touch- wonderful recap. Thank you for the inspiration!
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
Catching up on the thread, your progress is awesome and your diligence is amazing. Re: the letters, you got good responses; have any of them qualified for your buyers list?
I don't recall that we should expect a 30% response on letters to sold list cash buyers. Where did I miss that in the program? I think your percentage is great, esp. if they qualify.
Keep it up.
PS Do we still have interest in a SW DG meet-up?
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
I want to bookmark your post but I can't find the "bookmark", how should I do to put your post on my bookmark? Thank you for your time and help.
Hey any of you doing this in vegas. I have a buyer. He is aggressive and has cash to close. Let me know. He is looking 3+ bedrooms.
"Don't tell me I can't, Tell me how I can."
Hi Donna,
If you have an aggressive buyer for Vegas, I am here. What can I do to help you?
Tina (PM me if you like)
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
At the bottom of the very first post on the first page will be a button/link to bookmark the post. To return to the posts, on the left side of the page under the "Main Sections" heading will be a link for "My Bookmarks." Click on that and you will see a list of all your bookmarked posts.
Hope this helps...
Andy Sager
DG's AndyS
Andy Sager
DG's AndyS
CFIC & IE member
2013, 2014, 2015 & 2016 EDGE Alumni
I went to the website www,deangraziosi.com/buyersprofileinterview to download the form and could not find this form. How can I access the above form?
maurice
Maybe this is what you are looking for?
http://www.deangraziosi.com/leadsheet
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
I need a good agent i my area,32771 thanks
Does anyone know what color code is Dean using for the paint and carpet for his properties? Also, when he mentioned dark wood cabinets what kind of wood is it?
I'm referring to this video on Dean's Media: http://deansmedia.com/play.php?vid=114
Gonna make the decisions for my own rehab, would appreciate any input!
Real Estate Investor, if you would like the chance to work with me in the US East Coast, send me a PM (Private Message) anytime to see if we are a good fit for each other.
Wishing you abundance,
Ken Siew
Do you have the edge 2011 dvds? If you do, there is a section in one of the dvds where a lady speaks on paint, flooring and landscaping. I can't remember her name right now.
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
Hello everyone!
I just started this program and contacted a couple of Real Estate agents. One called me today and wants me to get in a conference call with her and her colleague to discuss properties that will be going into foreclosure.
I have no idea what I'm going to tell them! I'm not feeling very confident because this will be the first time talking to one of them and I'm afraid to sound stupid. I did mentioned that I was a new investor in the area. Is that OK to do?
I hope I don't mess it up.
God Bless us all!
Carol
I just started this program and contacted a couple of Real Estate agents. One called me today and wants me to get in a conference call with her and her colleague to discuss properties that will be going into foreclosure.
I have no idea what I'm going to tell them! I'm not feeling very confident because this will be the first time talking to one of them and I'm afraid to sound stupid. I did mentioned that I was a new investor in the area. Is that OK to do?
I hope I don't mess it up.
God Bless us all!
Carol
Hi
what I can advice you to do in the future when finding your perfect real estate agent and you can even do it now no matter that you already have connected with some agent... you can go to www. deangraziosi.com/findarealtor (but for some reason the page is not opening properly for me now and if it does not open for you as well as you need to see the pdf of word document file which you can download to see information on how to do everything then you can send me your email and I can send you a word doc. file how I did this) Anyways, I also advice you to buy Dean's book ''Profit from real estate now'' it is such a great book with a lot of details that will answer a lot of your concerns and questions.
Success is when you feel the fear and do it anyway...
www. deangraziosi.com/findarealtor
if that dont work her is the site it directs you to automatically!
http://www.homegain.com/find_real_estate_agent/index
"JACK OF ALL TRADES, MASTER OF NONE!"
Learning to Do, Doing to Learn, Earning to Live, Living to Serve. FFA MOTTO
Ben Franklin's Autobiography free audiobook download-
https://librivox.org/the-autobigraphy-of-benjamin-franklin-ed-by-frank-w...
Hi, everyone...
As the Craigslist is very hot place to post an Ads and as I am out of the US person I am having trouble with that when you post an Ad the system asks to verify the Ad by putting the phone number mine doesn't work, even if I have purchased local US number in one of the websites that offer different numbers with a call forwarding etc.?!!
Does anybody have any idea, how I could overcome this as I don't want such a small thing to stop me from putting an Ads in Craigslist, where I can get a powerful response...
Will appreciate any info from you guys... take care
Success is when you feel the fear and do it anyway...
Hello again... Does anybody from you live in Detroit, Michigan?
Success is when you feel the fear and do it anyway...
Hi Ken,
I would love to help. I'm not sure what Dean uses, but I'm a designer so if you could tell me where you most likely purchase from I will choose colors for that nice warm 2-toned scheme of neutral beige-tan-taupe & white and select the sheens as well.
Home Depot or Lowes is fine, and they both have decent rental grade carpeting and stock cabinets. You'll need basic light kits too.
I'd be happy to share-- just let me know where is best for your procurement. Lowes has a great contractor desk where you can really get good GC pricing (even as an owner, I'm pretty sure).
- Tina
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
Hi Zuzzze!
Such troubles always with our US ways! I can't imagine that the US # you purchased will not work. I'll get on line a bit later and search a bit to see if I can find any answers. Maybe you could do that too; google "Unable to place Craigslist Ad with UK phone number" and see if any forums are helpful.
I understand Kijiji is a more internationally friendly site. I wish to use it to get some Canadian clientele and have looked around at the site, but not yet placed an ad.
Maybe you could it out.
Good thoughts and abundance manifesting to all DG-ers!
Tina
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
You may want to try to get a GoogleVoice number from the Mich. area. I'm not sure, since you're from out of the country, if you can have a choice but if you can, pick a US state to get a number from. Then, you can use that for reference when placing your ads.
Hope this helps...
Andy Sager
DG's AndyS
As the Craigslist is very hot place to post an Ads and as I am out of the US person I am having trouble with that when you post an Ad the system asks to verify the Ad by putting the phone number mine doesn't work, even if I have purchased local US number in one of the websites that offer different numbers with a call forwarding etc.?!!
Does anybody have any idea, how I could overcome this as I don't want such a small thing to stop me from putting an Ads in Craigslist, where I can get a powerful response...
Will appreciate any info from you guys... take care
Andy Sager
DG's AndyS
CFIC & IE member
2013, 2014, 2015 & 2016 EDGE Alumni
Appreciate your offer Tina! I'm having my GC buy the materials - I should probably get them myself but I'm out of state so it's difficult. Let's just assume that it's Lowes, what would you be using? I was talking to my realtor/GC and it seems like we might go for off white (with the primer, it's supposed to look like what's in Dean's video).
Real Estate Investor, if you would like the chance to work with me in the US East Coast, send me a PM (Private Message) anytime to see if we are a good fit for each other.
Wishing you abundance,
Ken Siew