30 Days Quick Cash Formula

OK Ken,

Hold tight for a few, please-- I watched the video and will get my Lowes color books out and provide a schedule of finishes for you and anyone interested.

I saw someone mention the designer who spoke at the Edge 2011, I remember her (but not her name-- eek) and she is good, but she feels Lowes and HD are not good enough products and I tend to disagree; I think they are just fine for rehabs and rentals alike.

Stay tuned--

Tina

Morning Ken,

I stayed up until wee hours trying to get a full board of selections done for you, but carpeting is hard online. Then after I asked you, all I have at home are Glidden (Home Depot) paint chips. So I will continue working on this but I wanted to get paint to you asap in case you needed it today.

HOME DEPOT:
Wall color- GLIDDEN GLN32 Navajo Sand (if a retail sale, use FLAT, if a rental use eggshell. Flat can be touched-up and has a warmer feel, eggshell shows when touched-up but it is scrub-able)
Trim, Door and Door Jamb color- GLIDDEN "White on White" (this is the name, I don't have a #). (If a retail sale or a rental, use Semi-gloss, scrub-able)

IF you wanted the walls a little darker- GLIDDEN GLN05 Water Chestnut (same finishes) and use a slightly darker trim- GLIDDEN GLC13 Crisp Linen White (same finish)

For Ceilings- use GLIDDEN Ceiling White Value- GC1070-02 FLAT or for a better paint use GLIDDEN GLN 9000 Interior Premium FLAT white

I will PM the Lowes Stock Cabinets in a dark color (you will need to find a store in the area that carries the dark color, or they can get them very fast), the countertops and some carpet to you now, then get lights and more carpet to you later.

wellness and focus-
Tina

Thanks sooo much for your help!!

Thanks guys for help... take care

I'm reaching the stage where I'm exploring different property management companies for my prop. A prop management group from ReMax is offering to locate a tenant for one month's rent, and 10% rent ongoing management fee. I might be okay with the 10% fee, but one month's rent will kill my cash flows for 4-6 months!

How do you guys locate a tenant if you're not physically available to show the prop? (I invest out of state.)

Any help/ideas would be appreciated, thanks!!!

I've worked with property managers and Realtors to help me to place tenants. I've also asked friends or family members (who live in the area) to show a remote property to potential tenants whom I found via various online classifieds sites.

Please keep in mind that you could negotiate with the property management company on the compensation and other terms.

i heard somewhere myself that the colors you use dictate whether you get the house sold or not....dont put any bright colors ...STAY NEUTRAL ....as in White, Gray, Light silver, stuff mainly that is a white or an off white....lets see if i can remember how this person said it....if you stick to neutral colors that opens up your market base to almost everyone...and if you where to use alot of colors that would limit your market...but dont get me wrong colors are good to use ...in some instances you need to use full colors instead of neutral stuff...only time and experience in your area will tell you whether to use neutral or actual full color?!... now there are instances such as solid wood trim or something ...you dont want to hide that with paint...just give it a light sanding and maybe hit it with some conditioner or a pledge or something...

that might help

Hi everyone... Recently I tried out Dean's method to find perfect RE agents through sending a fax with my offer working with me in one team etc to REMAX.COM and KW.COM offices but I haven't had any response so far... I was wondering am I doing something wrong or what as I was fallowing instructions given in www.deangraziosi.com/findarealtor

Have anybody tried this method and have had any success??

Thanks in advance and all the best to you...

I have never seen that link before and have never heard Dean recommending that link.

The best way is to talk with a realtor is personally or on the phone. I have sent emails to realtors and have found that a lot of questions I had, were just ignored. If you talk on the phone, they can't ignore your questions or requests so easily.
Call the main office number and ask the receptionist for the top agent working with investors. If the receptionist says all(yes, I was told this) or four are top agents, ask for the agent that is available to talk to right now. And then go through your script.

RENinja

Could someone advise me on good subject to lines to put into a contract? I suppose it has something to do with how many people are involved in the sale and other factors so I don't get stuck with a property I don't want. Thanks for any help.

You are using Dean's contracts right?

How many people are involved: I assume you are talking about who the sale of the property is between? You won't have to worry about that, because you and the seller(s) will put each's name down. If you are talking about the fact that you want to assign or double close with investor right after you buy the property? Then in the contract, there would be a disclosure section(in the addendum I think? You can ask your lawyer.)

So I don't get stuck with a property I don't want: You can use these two contingencies, sale of property contingent upon approval of buyer's(you) partner and/or buyer shall have 15 day inspection period and if buyer finds property unsatisfactory, this agreement is void. That isn't the correct wording, but just tell this to your lawyer and he/she should be able to give you the correct wording.
There is a bunch of other contingencies you can use, but it has been said is that having a lot of contingencies in your contract will oftentimes cause the offer to be rejected.

Hope this helps.

RENinja

We just posted the ghost ads on craigs list and now we are anxiously waiting to see how many fish we can reel in. At least we can start getting our buyers list together soon. That's the only area we are lacking. We've got everything else put together.

Talk to a title company or attorney that closes "subject to" deals. They will provide you with the documents and protection you need.

Michael Mangham
MD Home Acquisitions LLC

is a mouthful and great advice, Oscar!

It IS difficult to find a realtor who will submit that many offers, but if you can find one for the area you want to purchase in that will do that, that's just ducky!

Love this post!! Great resource!! Thank you!!!

I called an agent from KW & basically he wants a POF upfront. The reasons he gave were 1. he wanted to make sure we were serious buyers (making offers) & not wasting his time 2. he wanted to make sure we were prepared to start making offers. I had told him that we would provide POF when making offers for specific properties. Any suggestions? Is there a way to get a blanket POF to start off with, instead of a property specific POF?

I think you give POF of the total amount that you have, not what you want to spend for a specific property. Property specific allows you to just match your pof to the amount you are offering. I don't know if the realtor can/will show the blanket pof to the seller, but if he/she does. The seller will probably say, "well you have a 100,000, why are you offering 60,000? The least I will take is 85,000".
You could try getting a POF letter from your buyer for the amount you are offering on the property.
Don't just work the MLS though, work FSBOs as much as you can. They aren't as plentiful as MLS deals, but they WILL be your best and easiest deals.

RENinja

Hello everyone! I just got started on the 30 days to Quick Cash Formula, I 'm pretty excited and nervous at the same time because this is very unfamiliar territory. Building up all the courage I can. Just emailed a Remax office today looking for agents that work with investors. Hopefully I find the right one.

Hey, ArtisticMind83...

Great to have you here! My advice would be just do it no matter what fear you feel inside, because going through many fear situations you will have a chance to grow as a personality and see your real potential... also bear in mind that at the other side of fear you will meet with freedom and it's such a good feeling...!!!

Wish you all the best!!!

P.S. post here whatever questions you have during your journey as we are here to help each other...

You ask? You shall recieve!

story-
I live in an apartment complex that will not allow you to own real estate (they can legally take it from you if you own any)...now i have a possible AGENT(S) that will work with me and i have a lawyer and even possible contractors that i still have to talk to!

situation -
since im not allowed to own property i did a little thinking and i realized if i dont put it in my name ...dont mean i still own it...but i dont have anyone around here that i know that i can trust enough to put it in there name temporarly so i dont loose everything ...(even though i dont have anything) now is there someone around here that can possibly help or even point me in the right direction?

Just breifly, What strategy do you plan on using? Wholesaling, Buy & hold, Buy,Rehab and Flip?
If you are flipping contracts (ie wholesaling) you never really own the property (you just control the property) so that shouldn't be an issue.

What do your laws say about you being a participant in a company that owns real estate? You could set up a corp or LLC and let it own the property (if that's legal for your situation.) Have your attorney give you some options so that you stay within your legal boundries.

Hope this helps...

Andy Sager
DG's AndyS

so wholesaling would be that i DON'T OWN IT ...but I CONTROL IT?

i need to check up on what my laws say anyways so ill probably here ...(im going to wait if i can till after the holidays are over) sometime meet with my lawyer and we will go over everything

Yes. That's the idea.
The best move will be to contact your locals about the rules that apply to your area of interest. A real estate attorney/investor (who speaks at a number of my REIA meetings) explained that there is a lot of GREY area within the law. You need to find out what you can do, what you can't do and how you can legally do what you can't do.

Finally, you may not want to wait until after the holidays. It's been said that people are generally more receptive and giving around holiday times. A friendly Xmas bottle of wine might go a long way in getting your power team together or help you be remembered by the team you have. Just a thought

Hope this all helps...

Andy Sager
DG's AndyS

"I live in an apartment complex that will not allow you to own real estate (they can legally take it from you if you own any)..."

That seams insane to me... I bet you could mask it with an LLC if you decide to own some. You may just need to become extremely successful and move out! Find a seller financed duplex and lease option it. Move in there and use the cashflow to make the payments. You'll be gaining property and building equity. Maybe that's getting a bit ahead but, of all the things to hold you back, Really??? That's a new one for me!

Best of luck

This is a wealth of information!

I love "invest_Midwest"'s tag line! Keep the CHRIST in Christmas!

ME TO!

MERRY CHRISTMAS EVERYONE!

Hi. Can anybody refer me any amazing RE Agents in any of these areas: New York, Detroit, San Antonio, Chicago?!

Will appreciate indeed if somebody will share. Thanks.

PM elixbrown in New York. He is an agent himself and a serious real estate investor. He might be interested in working with you or can get you in touch with a good agent. Search for his profile.
Hope this helps.

RENinja

When talking to a Realtor about making offers, he said there would be a "deposit" of $100 to basically have the seller take the home off the market. I'm in Texas if that helps. Is this true, and does this have anything to do with the earnest money deposit? If it is true, how do I get around this? Not like I have liquid funds to tie up :/

Thanks,
Donny

hi everyone

i am on pg. 22 in the book which says to make a post a day so here i am.
i figured a post with the people following the blueprint was a good start.

good luck to all

cynthia