30 Days Quick Cash Formula

Just jumped on Rock bottom blue print yesterday night. I ordered Dean's books a year ago but jus got sucked into the daily routine. Visited this website several times, read lot of forums...which lead to information overload, analysis paralysis kind of situation. Then when I saw the videos about the blue print, this was exactly what I needed. Even though it seemed expensive for me, jumped on it with hubby's encouragement. I am on page 1 of quick cash-flow and working on the exercises. This thread is just awesome, so many of you are sharing so much information. I am determined to make this work. I have a question, do we have a support line for RBBP where we can ask real estate related questions, I saw there was a support line for technical website questions. Good luck to all of you and I am sure we can succeed with all this support.

Hi Everybody!

WOW - The phone call's started coming in today from my letters. I sent them out last week and I got 2 phone calls. The guy I talked to couldn't get back to me fast enough and want deals today!!

Overall these phone calls are easier to respond to. You know that the person is an investor, you don't have to do the work to figure out if they are a retail or investor buyer. All you do is talk "shop" with them and they are ready to go. They want you to know their investment criteria, so just ask point blank. Both the people I talked to were very happy to give it to me. One guy asked if he could be the first person I could call when I get a deal

Just like the phone calls from the Ghost Ads, these phone calls lasted me 2-3 minutes, and there was no nerve what-so-ever. You'll seriously have a lot of fun with these calls

that is awesome Alex, way to go. Thanks for the information.

Hi Andrea! I'm looking forward to taking your mentoring starting next week. You are awesome!

-Susan

Awesome news! I'm sending mine out today. I love your updates!

CAn you share what exactly did you wrote on that letter that got a fast response??

My realtor call me to see a house 59% under market value. The house is on market for 36K. There is no way to assigned it, I am frustrated. So I decided to send some of the investors I already have in my contact list and get at least a referral fee. I went to see it, took pictures, and the house just need cosmetic and a new air conditioner so is a great deal.

I used the formula and looks like this

FMV $87,000
PROFIT $9,200
Fix UP $35,000
CLOSING $2,760
REALTOR $5520

OFFER= $34,540

THE HOUSE IS ON THE MARKET FOR $36,000
59 % BELOW MARKET VALUE

Still unsure if I did this correct.

The realtor also send me comps and it looks like this:

ESTIMATED SUBJECT VALUE
Base On Estimated Price Estimated Range Gross Adjustment
List Price $99,000 $97,000 to $101,000 2.05%
Sold Price $87,000 $86,000 to $89,000 1.74%

I think this is a great deal, I WILL LIKE FEEDBACK PLEASE!!

WHAT CAN OR SHOULD I DO?? I diD OK??

are you sure you haven't done this before??!! you are like a DG pro!!
Your enthusiasm is contagious!

Thanks for sharing your tip on the letters!

Learning and progressing every day,

Valerie

I just posted a new video on a trick that I learned a while ago and thought I could apply it to bandit signs. I attended a conference for Realtors on how to use your smart phone/ipad/iphone for your business. Let me tell you I feel naked with out my phone now.

I am trying to develop ways to make this stuff as easy as possible for me, because that greatly increases the likely hood by 10 fold of doing this stuff!

What I am doing to keep track of the location of my bandit signs is just simply taking a picture of them. My phone then uses my GPS location and remembers the location of where I took a picture (this is called geo-tagging). It then places a little pin drop on a map of your EXACT location of where you put the sign and took a picture of it. When it is time to pick up my signs again, I go to the map in my photo album menu and go to where the pin drops are on the map and pick up my signs.

You have to have a smart phone with a gps in it for this to work, but very soon most everybody will have one if you don't have one already

http://www.youtube.com/watch?v=2dAtYV4YIN4

Hey Isabel,

I would throw in an offer of $15K and see what happens. You are supposed to be offering 25 to get 1 accepted, so the offers you make should be in bulk. I'm new to this too, so if someone says something different, I could be wrong. Then, if you get accepted, you offer it up to your buyers at $20 or $25 to move it quickly and still allow them to make their cut of the money (or leave meat on the bone). I think the formula you are referring to was from Matt Larson and that was just a guide of how much to offer to not get in too high. It sounds like you are looking at the right things. Keep us posted on how you do.

Alex-that's AWESOME on your responses from your letters! I'm still waiting for my biz cards to come then I can mail mine out too! Can you share w/us what you wrote in your letter?

I have not done a single deal yet! But, its funny, I feel so close to my first deal! Its peculating inside. I cannot wait.

I guess stuff you have fun with becomes addicting, and a riot!

We have a great sense of energy on this thread, and rolling with it!!

Hey i just purchase Dean's RBBP program on saturday. I am already in the process for getting the perfect agent. I found one that sounded like she would be open to work with me. But then she told me that when i start submitting deals that i would have to provide bank statements of proof of funds. I wouldnt be able to provide that because I am plaining on assigning deals to other investor, but she doesnt have to know that. So can anyone give me advice on what should i do or say to her, or even the next agent that tries to tell me the samething?
Advice would be very helpful!!!!

Thanks in advance to anyone that replies!!!

Literally, I just copied and pasted the "Dear Mr. Buyer" Letter that Dean provided on page 2 of the 30 QCF.

Hello Mr. Buyer,

This is Alex. I want to let you know that I have a unique marketing strategy and a knack for buying properties cheaper and better than anyone else around can. I see that you are a buyer in this area. What I would like to do is contact you every time that I find a deal through email or I can call you and let you know when I find a deal that fits your criteria. If this interests you, then please email, call or text me.

Thank you for your time and consideration.

Alex Waterloo

I put 3 business cards in the letter, made my contact information very big, signed the letter with a pen, and my favorite part....I scanned my business card, and took the image and copy and pasted it at the bottom of the letter. That way my card printed on the letter, there were 3 business cards in the letter too. I printed it in color too! Double and triple checked to make sure they had my information, and that I was eager to help them.

One guy actually left me a VM and said "Hi Alex this is Drew XXXX, also known as Mr. Buyer in your letter......" Lol

Thanks murdock for your input

the issue here is that I was planning on assign this deal, but I can not assign this one. I don' want to do the closing either. Are you telling me to make an offer?I understand you are telling me to offer less, but if I can not do as contingencies the "assignment", then how can I work this out? I thought then maybe the referral fee would work or not??

I feel so close but yet don't know how to work this one out!!
HELP!!! more suggestions??

I wish I can close my first deal!!

Hey Awaterloo,
Iam in the process for finding a perfect agent. I called a remax office thats located in my city, but i got no answer. But the KW offices are not located in my city, their about 15 miles away!! So i called a local realtor office and spoke with an agent. the conversation was going good until she ask me to provide bank statements of proof of funds, when submitting offers to sellers. She said i have to, and i was clueless beacuse dean didnt prepare me for this. Can she do this? Or what can i say to get around it? If you do know or experienced this problem before,can you hepl me?
Thank you

geez, I leave the page for 24hrs and WOW... things are moving fast. Alex and Michelle you're dancin' fast and we're catchin' your air...meaning, we are coming along with you!!

yesterday as per RBBP instruction... I found a better agent than the first I had AND this one sent me the 90 day cash deals within 20 minutes. Over 100 deal in my specific zip codes (areas I know well in San Diego)

Here we are not able to get the addresses/phone numbers, etc. on line so tomorrow I head to the Assessors office. I called today and she said I could either give me the Parcel numbers - three at a time - over the phone, or come in. Well, good to know if I ever only need info on a few properties, I can call them and get the info on the phone. But, tomorrow I take me properties and begin the address gathering. Tonight, I'm sifting through the 100 plus to see if any specific HOT area stands out. Tomorrow after getting the names, I'll know who might be a motivated buyer, buying up several properties.

Today was filled with responding to my ghost ad inquiries. I earned 14 investors this way on CL. Now, plan to place the same ads on the other sites listed in the recipe i.e. backpage and others.

To the class of RBBP 2011...keep those plates spinning and keep coming back for more!

That is a typical question you are going to get from Real Estate Agents. That's okay that they ask you this. It's their way of "qualifying you" as a buyer/client. If an agent asks you this, just tell them its not a problem and will be happy to provide a proof of funds letter. At the very beginning of this thread there is a great couple posts on what people ran into and exactly how to get out of a situation you are in.

You can get them a copy of a proof of funds at 3 websites.

www.coastal-funding.com
www.insiderscash.com
http://fastinvestormoney.com/proof-of-funds/

Pick you poison

Anyway, these are free letters you can give your agent to calm their nerves so they can move forward with helping you. Don't worry, everybody in this thread ran into that problem.

To everybody that is new to the thread -

I have made some videos of tips, pointers, hurdles, ways to make your life a lot easier. These are the links in order in which they were posted. I think you'll find them very beneficial.

"My Why I am doing this"

http://www.youtube.com/watch?v=IejFtnEUi-0

"Part 1 & 2 DG QCF thread questions!"

http://www.youtube.com/watch?v=Y3qWOMVfLcE&feature=related

"Are you sure you found the perfect agent?!"

http://www.youtube.com/watch?v=7r-4DAr_PTI&feature=related

"Me calling a Ghost Ad responder back"

http://www.youtube.com/watch?v=cXIjya6SmFo&feature=related

"A tip that might put $$$ in your pocket"

http://www.youtube.com/watch?v=E7y5AtqwO24&feature=related

"How to use your smart phone to keep tabs on bandit signs"

http://www.youtube.com/watch?v=2dAtYV4YIN4

I don't know. This thread is from newbies, so I would probably go to the "ask a question" area. The problem I see with wanting to get a referral fee is that it's posted in the MLS, so anyone looking can find it. But also, giving you a referral fee is pretty much up to them if they want to pay it, I think. There may be a way around this, but I don't know, I'm new myself. How come you can't assign it or do a double close? Those are the two strategies that I'm familiar with, but I still don't know everything. I hope this works out, it sounds exciting. What town are you in?

I love your posts! Great tips, I would've never thought of the idea to use my cell phone camera with the GPS tracker. I'm going to check out these videos too. Thanks for your input. -Susan

Hey Awaterloo
Thanks so much!! Iam sorry that i ask the same quetion that you been aswering alreday. But i did take a look at the beginning of the thread and i seen the post you were talking about. I Admire you care to help everyone stay on track!!
Dean was right this site is like Family. We all help each other when in need!
Thanks again!!!!!

I sent an email off to the two REAs that seemed to be good late last night. I haven't gotten a response yet from either of them. So I'll give them a call in the morning just to say hello and see if they got my email. I'll also call another 5 offices to see what happens. I've been busy with other things in life and haven't done much else but I'm looking forward to doing some of Page 2 tomorrow if I can get some listings from REAs.

Hey, A BIG thanks for your advice... didn't thought about this option, but will try, this is really helpful thanks again...

My advice to you would be just concentrate on a material what's provided, as you can see other people are getting so fenomenal results. I will make my calls hopefully today. I think when I will go in a deeper understanding of real estate I would love to raise this question about working in UK with real estates, but for now I think we need to stick with US market.

Kepp reading posts, they are very helpful with everything what you are going to encounter during this process... sending you much strenght to do this... take care

I had a similar question today 08/10/2011 from a agent below
Also I just bought this program on Saturday and have never sold real estate before.
so I am brand new to this whole thing but love it

heres how the conversation went with the agent via email today
I followed Deans email format

Hi "agent"

It was great talking to you today, and thank you for your professional manner which you took my call.
Here are a few requests that i need to getting started with our business relationship.

1) If you can pull together a list for all cash buyers within the past 90 days in the areas that we talked about
If you are not able to do this, you can call the MLS support staff and they can help.

2) If you can forward me 5 listing sheets on deals that might be really good for an investor like my self to start with.
3) And last but not least, what areas out of all the areas you and I talked about, what would be the pocket areas, are the best places to buy, flip and sell properties. And which areas are renting or selling the best?
Again it was great to talk to you today and enjoyed your energy since I like to work with active and up beat agents.
Yours Sincerely
Peter

EMAIL FROM AGENT

Peter
What exactly are you referring to in regards (list for all cash buyers within the past 90 )?

EMAIL FROM ME ANSWERING THE AGENT

"Any one that has purchased a house in the past 90 days that paid cash?
please let me know if this helps"

After all this I didn't call him back pretty obvious he was not aware of this concept
so i just kept calling to new agents

The next call i made to another agent at a different office
I hit the jack pot.

This agent knew exactly what i wanted and sent me 300 listings of cash buyers
in my local area and then i thought wow lets try that again in a different area.

And we hit the jack pot again the agent did the same thing and is sending me more listings than
I know what to do with!

So it's pretty simple if the agent on the phone with you dosent get it just say thank you
and call the next one.

Hope this helps

Peter

Welcome to the DG Family. Did you get your materials? Half of our materials are accessed online and can be started right away.

Just wanted to let everyone know that I am part of this group and will be around to answer any questions. Hopefully I can count on you guys as well. Al Waterloo is a good guy and even though he is out of Chicago, that does not mean we can't work together on a deal someday once we get past all of the formalities RIGHT. Thanks guys and in 30 or so days we all should have something to bring to the table in this competitive market.

I watched the live event replay this weekend! Awesome, inspiring and amazed at all the knowledge shared. Received online rbbp Monday and have begun my journey. Incredible site and forum. I feel as though I am learning as much with the forum as with the materials. Thanks to all. I talked with my first agent yesterday, kind of a test case for me. Nerves remained intact, but not the agent I need. Today begins my journey of step by step goals and following the blueprint. Looking forward to being amember of the DG family.

There's no house that you can't assign one way or another... we're flipping HUD properties, lol. Whoever said "this can't be assigned" may be right, but you CAN flip it one way or another... give us details.

Also, if the value is $86k with $35k in repairs the most you can offer is around 23,000.

Nick

Hey Jill,

Everyone on this thread is moving so swiftly-- Let's Go RBBP 2011!

Alex, Michelle and all of you who have already scanned your Cash Sale Lists and have sent letters out (or like Michelle are waiting for your Business Cards)-- how did you sort thru the list soooo fast and determine your prospective buyers sooo fast?

I am about where you are, Jill. Yesterday I sifted through Cash Sales with a "starter home" price point in my area. Since Vegas has a ton of inventory it was a long list and I did not want to shorten it until I got a feel for how the various cash deals occuring. Here is what I found:
• Generally, there are a lot of S/S and REO's being purchased with Cash
• many are multiple offers, with the highest bidder winning (this in many cases also results in the sale price being higher than the list price), great for the market, but not what we are looking for
• many are a result of Auction, also often being a higher sale price than the list price
• most of these are NOT the prospective buyers we are seeking
• looking further into the cash sales I see many from out of town-- I mark these as prospective buyers for my list
• thankfully I also have access to the notes in the listings and I can see where the property was listed as recently rehab'd, so now I have prospective buyer by getting the SELLER's name off the sale
• I actually sifted thru 900 cash sales in the most recent 60 days (I realize I am doing too much work myself, not using other people's time (OPT), but for me the hand's on experience is invaluable info for learning). Of course I did not look at each listing, but I did view a sampling from each area. Again, Vegas is widespread and kind of an odd city because we literally have neighborhoods that have mansions next door to "shacks", so it can be a little tough to categorize the areas. I do have my favorite areas, but I am trying to establish Hot Areas that investors are BUYING in, so I'm casting a wide net at first.

• today, I am trying to figure out the fastest way to get the listings out of my list that are unlikely to be investor buys, then the fastest way to transfer that info to pins on the map and locate the hot areas. If anyone has a fast mapping process, please chime in
• then I'll go to the assessor / treasurer pages and get the prospective buyers to send letters to

TIP TO TRY-- one little time saver I came up with to find buyers that are doing multiple deals is to put their name in the assessors page search and see how many props they own

So, good morning all-

Tina (oh, and I changed my pic to my granddaughter being oh so tired :)-- I think that is how we all feel by the wee hours of the morning on this thread, a bit tired, overwhelmed and really really really excited!)

Go RBBP 2011!

So, btw Jill I will get back to you on the SD deal, just trying to keep up with homework first.

Does anyone know if the above steps on how to "train" your realtor apply even if, one, (Step #7) you live out of state and have NOT seen the property? and two, (Step #9) your strategy is NOT to do lease options as stated in sample letter to bank above, but, rather, wholesaling the deal or double closing?
Thanks!

Barbara