30 Days Quick Cash Formula

Hey Michelle,

I just had my agent email over a blank real estate contract that she was comfortable using. I took it, read it over and got familiar with it. I wanted to use the one she uses because 1) she is familiar with it and 2) attorneys in the area are familiar with it, so they will be able to give excellent advice on the contract. (This is just what I am comfortable doing)

I went ahead and modified some clauses in the contract. The clauses that I modified were the "Home Inspection Clause" and the "Attorney Review/Modification Period." I extended the time frame for all of these to 14 Days. I'd recommend having your agent and/or attorney help you do this. Unless you are familiar with contracts, you want to make sure you get this right. These are your protection clauses that will allow you to back out of the contract if need be.

One last thing, you are a ROCKSTAR!!! I am very proud of you. You created a great thread, asked the right questions and have been able to provide incredible, sound, and motivating tips, techniques and tid-bits on what to do! Three Cheers to you!!

Our first deal dinner will be on me!!

Great work!!

This is where I am starting to get into unfamiliar territory. We will all have to watch each others back on this to make sure we do this legally, ethically and profitablly. Lol.

Let's talk with our attorney's today and figure out how to wholesale real estate.

From what I gather, you might want to tell him, "No I don't want any phone numbers, just all the properties that sold for cash in the last 90 days." I believe once you get the list, YOU! can find the buyers because they'll be listed on there. Someone please correct me if I'm wrong.

Al

That is exactly correct!!

If you're in a high priced area full of more seasoned cash investors, don't let that bring you down... they're your BUYERS. Contact them and ask then what they're looking for, what areas, price range, condition, etc..

Also ask them where and HOW they find most of their deals... then copy what they're doing. Let them know you intend to help find them deals, and don't be afraid to let them know you're kind of new. Some will give you help, and the rest don't care how old or new you are, if you bring them a (real) deal, they'll look at it.

Don't be afraid to deal with $400k-$500k+ houses. You'll rarely make $20k flipping a $70k house. You CAN (and more) flipping a $400k one.

I've done/been involved with hundreds of deals, and the high majority I have not found through Realtors. I'm sure as you move ahead Dean will teach you how to find houses that are NOT listed... but for now, do as he teaches,grow, and learn. The "average" Realtor won't put in the time and effort for you, but the average Realtor fails and will be selling shoes next year.

A line I've used very successfully with Realtors is "Find me a deal that comes in at the right numbers and I'll get you proof of funds. I use different investors for different price ranges and areas". Then confidently ask them a question totally unrelated to get them off of the topic.

You have to deal from strengths.

Each call you make gets easier, each Realtor that says "I'll do it" gives you more confidence. You'll laugh 6 months from now at how simple this really is.

I made a video a while back teaching how to overcome fear while pursuing your 1st deal: http://www.youtube.com/watch?v=2oe-SN_BrF0 It may help...

You have what I believe is one of the best programs available, you have a support group, you have a mentor (if you joined the program) and you have one of the easiest markets EVER to find cheap deals in.

It won't always be easy, but YOU can succeed at this... just take a step at a time and you'll be on your way.

Nick

Hi Alex,

Thank you very much for your sincerity and willing to help others I have been reading your messages to Michelle and I have learnt a lot from you. I Just joined DG family at the weekend I have not even get my package yet but I am eager to start and I have similar questions like Michelle and just by reading your post I have learnt a lot from you.

Thank you
David Amponsah

Regarding the pre-filled-in contracts, Matt mentioned this in the Success-a-thon. His realtor has a pre-filled out contract and a self-inking stamp of his signature. Having a stamp might not be a bad idea in case other paperwork is required for whatever reason.

To Michael who's in Washington D.C.: listen to the latest conference call about estates with Joe Jurek. That should give you a little edge in your area.

Regarding cash sales lists, it might be best to have BOTH phone and address if at all possible. If the county has a website that provides very little information you can always try a reverse phone number look-up. Not to mention it will help if you find multiple people with the same names.

Keep it going!

Thank you for all your recognition and encouragement! Maybe our first dinner deal can be on Dean (hehe )!

I'm not ashamed to ask questions--even redundant ones--to get myself grounded in whatever area I'm trying to undertake. There's ALOT about real estate that, right now, seems confusing. I'm also a student at heart and always try to get as much of the facts as possible before I jump right in the deep end (trying to learn how to "doggy-paddle" first lol).

And honestly, you're the TRUE rockstar here helping out everyone as much as you can and have. Your Youtube Vids are AWESOME and your ideas are even better! Looks like from here-on-out, it's a steady race to the finish line and whoever makes it there first can help the others along

KEEP ON ROCKIN' IT! And I'll see you at the finish line...

I just became a new DG family member this week end. I have not even received my Blueprint package yet. But I have learnt so much from your blog posted by responding to Michelle's questions. I really appreciate your sincerity and willingness to help others. Thank you so much.

David Amponsah

Hey everybody. Again, what a phenomenal thread.... big ups to Waterloo and Michelle for becoming the unofficial godparents of this thread Incredible suggestions and postive energy.

Some folks have reached out to me with a little bit of frustration concerning agents.

First off, it goes without saying that you should follow the scripts included so that you can prequalify the mindset (first) and then the capabilities (second) of the agent in question. No need to reinvent the wheel or add your own tweaks (at least at first...why make it harder for yourself, right?)

As a sort of side note, though, I've found that some of the people are callings REA's and following the script without a sense of confidence or energy in their voice. Understandably, this may be much harder for some, and some of us may need more practice to come across assertively, but it is important for everything it suggests to the agent. Yes, it may be nerve-wracking and foreign territory. That being said, fake it 'til you make it.

Someone on this thread mentioned it's not just what you say, it's how you say it. I've found that fewer people want to talk to someone who is mumbling and unclear versus someone who is excited and confident. So, practice with someone. Talk to the walls if you need to. It's worth it. Remember, you want to communicate that you are an investor that is worth his/her time and energy. And if you screw up, get back on the horse. You WILL get better at it.

Question: Do I need to have my REA give me the comp properties for EACH of the 25 listings? How many houses should he use to compare to yield an accurate average? In the QCF video, Matt has like 5 or 6 different comps going on. Just trying to make sure I don't run my REA ragged

How is comps done through Trulia.com???

That's right Al. Just tell your REA that you need a list of all the cash purchases that were made in the area in the last 90 days; it doesn't sound like you're fishing for name (which you are )

I am new to this game also, but I think I have some answers to your questions that will make you feel better. First, I don't think you need to switch to another area, but you could if it made you feel more confident. The median income really doesn't mean much. Our real estate is in the condition it's in because soooo many people (all income levels) have been overspending for their income. So, someone can make $200,000 a year and still be broke. Trust me, I have plenty of friends like this. The REA you were speaking with is probably mostly familiar with MLS properties and she may be right that they are a needle in the haystack. That's why you focus on bank owned properties and bandid signs to draw in people that don't have their house on the market yet.

When you speak with an REA, just tell them you are paying cash and if they ask if you can show proof, say "yes". There will be listings that will say that you have to provide proof of funds with your offer, if it says that, then don't offer on that house. It sounds like your best bet in that area is to find properties that are not on the MLS.

But, before you can even think about finding properties, you need to get a buyers list. That is the part I'm doing right now. I went on forclosures.com last night and checked in my area (I live in probably the most thriving city right now, unemployment is under 6% here), but you can see on this site, if you type in your city, how many foreclosures, pre-foreclosures, and auction houses are available in your area. Make sure you type in your city name and not zip code. My area has over 7,000 pre-foreclosures and over 5,000 bank owned properties! After seeing that, you cannot convince me that the market is flooded with investors. If that were true, those numbers would be in the hundreds. Not to mention that last month, in my city (according to my REA's report, there were only 170 cash sales last month). That means there is PLENTY of inventory. You should try to run those same numbers in your area and see what you come up with. Don't stop your momentum based on 1 person's opinion. Keep it up yo! If everyone knew how to do this and everyone kept going once they hit a roadblock, then our marketing WOULD be flooded. These are ways the not-so-committed get weeded out. You got this!

Thanks Michelle, we are on the same page! I am picking up my new business cards today and I have the letters ready to mail out (with my business cards). My hubby put up a ghost ad today and we've gotten one response so far (just posted about an hour ago). We also set up a google voice phone number for both buyers and sellers. We had to do one from each because my cell phone is used for my other business. I think we are on a roll here. I will start getting serious about making offers once I get a list of at least 5 serious buyers.

BTW Michelle, I am from Oklahoma City, OK. Once we both get going, we definitely need to meet up with you and your husband since we are not far apart. I hope we get to do business together too.

If you have a Dollar Tree store they usually carry the white foam board at $1. (Ask if you don't see it...the stores I go to usually stick it in the open box at the end of an aisle.) You can cut it if you want smaller signs. The yellow runs about $5 a sheet around here at Walmart or craft stores- Dollar Tree doesn't carry it. One person, I think it is Randy, on the videos uses poster board and wire to make his signs...which would work if you don't have rain. I called several sign companies near me to see if I could buy the yellow plastic signs without printing- they wanted to charge me highway robbery prices... even with large quantities. Internet had the least expensive yellow plastic signs that I found.

Definitely!! It's always great to pair up and build power and potential! You should definitely FB me (I'll PM you the link); we can communicate better through there!

Bought the books months ago and did.....nothing.
Things changed and now I can't stop.
Have 3 RE's working to help me out.
I simply explained...I'm new but have set lofty goals and want to work with someone who can help me aquire 50 properties by year end. Sell or rent.
Found some real nice foreclosures close to home (CONROE, TX).
Got approved through HomeSteps.com to recieve listings weekly.
Now, I learned I have to get pre approved to look at them.
No problem...RE gave me two referrals for ones she works with regularly.
Might as well go with what she knows till I know better. Right?
Down here...I ain't scared.
Anyone wanting to share some other tips, bring'em on.

Got buyers you want to fill, let's share.
Got renters down here, let's work something out.
Got property you want me to consider taking off your hands...let me know.

Best of all to ALL.
David in TX.

You ROCK, SIR !!!
That Coastal funding is right on time and the kind of nugget we all need.
Can't thank you enough.

Michellecaseyks...great questions..keep asking
DCCapital...awesome contribution.
Samba and Facebouy2u...jump in and share what you learn.

Y'all ever heard ...The Lord worketh in mysterious ways?
Ever thought, Dean is not the message but rather orchestrator of the messengers?

We might refer to ourselves as the "class of 11".

David in TX

Thanks Mark! Rina's, on this site, has been very useful, and your version is nice and neat-- already printed and in my notebook.

Hi everyone... I am so grateful for this opportunity to be a part of Rock Bottom Blueprint and it's a real pleasure to be surrounded by people who are so supportive, helping each other... it really does feel like being in a family. Thank you for that.

So great information I have read in these posts, that are very helpful to be ready for the calls.

1.I do not live in US, I live in United Kingdom. So, my question would be, after the conversation with RE Agent he/she asks me for phone number is it ok that I do not have US phone number but United Kingdom, which could be expensive for RE Agent if he will call me which will be outside the US?

2. What should I tell if there is a auto-responder and the RE Agent is not in place?

3. US is so big... as I do not live there I have no idea in which area to dig into?!any advice would be appreciated!

Thanks in advance for taking time and responding my question...

TOgether we WILL make it...

Thank her for the invitation, but let her know your time is of premium value presently. Then ask for the items in the program. Continue to follow the RBBP plan and script. Send the email and continue with the plan.

Started last year and allowed roadblocks to get in my way recently decided that I was going for it! Then not long after that Deans email teasing new program started coming. Perfect timing the RBBP is awsome so far just finished video then came here reading everbodys post s ..GREAT stuff everyone I think Ill be spending alot of time here. First time I was ever Fired up to do homework !!

thanks for all great info

Steve

Hey guys. I am on day 2. I was contemplating on re-enstating my Realtor license for this but I can now see the advantage of outsourcing it.

Charles

Hi, I mist the last couple of hours of the marathon.. I did get the RBBP, where do I find the hot line..Im so close to having a deal put together..

Hi Everyone!

I'm brand new here...Great Forum!

In RBBP, in the HAN section, I was listening to the audios with Dean & Matt about getting a Title Company and a RE Attorney and they didn't say:

1) Which one to get first?

2) What are the things to ask the Title Company? (What do you say when you call?)

I'd really appreciate any suggestions...Thanks!

Okay, so it was barely 72 hours ago and I was on the deck in San Diego with Dean talking about the blue print and now there are 10 pages of comments on this new thread. First of all you are all amazing for taking action. I love the enthusiasm of this thread. You are awesome...keep it going and you'll all do well. I tried to read all the post, but got a little overwhelmed.

I just wanted to take a moment and say congrats and best of luck to all of you! You'll be thanking yourself for taking action!!!!

~Andrea

We use the BluePrint everytime we enter a new market...it is a great way to make sure you cover all the steps and helps you avoid second guessing yourself.

Well I sent my follow up email to a couple different REA's one said when asked what was the quickest selling and hot spots he said he sent the high and low listing in the area.. Also did not get the buyers for last 90days..
so i sent a follow up email.. explaing what i needed and that I would need this informtion to do my research so I may know where to get aggessive.. Im waiting for responce now.. Oh yea.. I may have a deal pending if I can get a contract to gether not sure how to go about it.. its a purchase and i think it will have to be a double closing.. still working on that one.. this would be the first deal..

The other agent I asked for the information from never even replied to me..
so I will just get back on the phone and make some more calls.. I only have a couple of hrs in the eve and work days.. calls made at lunch.. If Mat was able to do so can I.......

I'm learning more and more, although it is harder as I am in the UK, so lots of things seem to be different.
I went yestereday to a local umbrella body for Estate Agents for some advice. not much help - doom and gloom
Today I made my first phone call to Remax, spoke with an agent, followed up by email, got an emailback. A lot of good will but not much help.He said there is no way of finding cash buyers, or foreclosures, and that there are not using mls(i do not understand how it works myself eighther:))
the good thing from our conversation was that I got invitation for an investor ivent in one of the towns where properties are being sold the most recently.
So one down four to go:)
do you know if there is a topick on the website regarding investing outside US?

Hi Zuzzle,
Just started 3 days ago so unfortunatelly am not able to help you much, moreover that I'm based in the UK as well.
Regerding question one - maybe having an US number through skype is an option? it has voicemail incl,and is very chip. as far as I understand it you can redirect phone cals to your mobile number as well and they are paying at local rate. Hope it helps.

have you thought about assigning in the UK? it is my first day and any advice will be invaluable,
thanks and good luck