OfflineHi everyone,
First time on here; well I have found like 5 deals I know I can make money from, but no clue how to process since this is the first; I have buyer all lined up but do not know how to do the transaction and making sure I make my money; one property is a REO I was thinking to get that one and use for a rental 2 floors then flip when the market is good, bank asking $16000, one tenant still living there; great condition; well how do I do this deal with no money down!! I want to make an offer to the bank but afraid they wont accept since I have no money; any help!! as for the others they are foreclosures (bank own) and I would like to use the wholesale method but not sure how to do this, also is it legal in my state (CT) to get paid for finding these property and getting a finders fee? HELP!!
New to Investment-- Using Dean tools--HELP!!!
Posted on: Sun, 05/30/2010 - 15:33
New to Investment-- Using Dean tools--HELP!!!
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- by sop1rey2
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Hi everyone,
I have a question, or should I say, a scenario that I'd for someone to please help me with.
Lets say that I have a property, we'll say, in Florida, for example. The house is worth $100,000, and I can get an exceptable offer for $70,000. I don't have any money to put down, and I've spoken to several hard money lenders who say that they don't do deals where the buyer doesn't have any skin in the game. I would imagine that I could get the owner to give me a owner financed down payment of, say $10,000 or say. My question is, if I can't get hard money lenders to give me the $60,000, how can I do a no money down deal on this type of property.
Thanks,
Robert Fruchtman
read the book B.A.R.M pg 207 at the bottom hpoe this helps you.
Hi to my DG family!
I have found properties near my home. I am reading both of Dean's books.
I am still a little unclear how to get started. Any help would be greatly appreciated.
Thanks.
I am also new to this and meet with my first seller on Sunday(wish me luck). I have found a few investors already from Craigslist. Look in the section Real Estate Services and check out the listings. They'll kinda pop out at you. I called and told them I was starting up and looking for investors to turn properties over to once I had done all the research on them and would they be interested in working with me on this and they All said yes! I them found out what the investors were interested in buying (# baths,beds etc) and what were they looking to make on each property. That is how I decide if I am going to give it to them for a finders fee or do an assignment. The one I have this weekend I stand to make up to ten thousand on assignment but the other two I'm looking at wouldn't make much profit therefore take a fee and build the trust between myself and the investors until I can afford to buy for myself. I'm nervous as hell but I just remember" Nothing Ventured, Nothing Gained).Also "Fake it till you make it" works for now!
Good luck.
I AM ALSO NEW TO THIS STILL WAITING ON THE BOOKS.I GUESS I WILL HAVE QUESTIONS WHEN I FINISH READING THEM.ALL HAVE A GREAT LIFE!
GOLDDUST
WATCHING CDS NOW then read books how do you get to free website?
GOLDDUST
As you can see there is a wealth of information and help here!
The Success Academy will give you lots of detailed information and action steps, plus you can call your coach with any questions on a deal you may have. It is a tremendous resource!!!
... Verses: 35 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles; They will run and not grow weary, They will walk and not be faint." Isaiah 40:31 ...
I am still working on getting my first deal and have read about double closings. This is the first I have come across the trans. funding thing. Can you do a double closing without it??
Sincerely,
happygolucky
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Anything worth doing takes a risk... Go out on a limb, thats where the fruit is.
Go as far as you can see, and when you get there you will see farther.
Everyday is another chance to make your dreams come true!
I'm also new to the DG family, but I can't stop reading.searching and getting excited. The wealth of information available from Dean, Matt, all of the coaches and the DG family is overwhelming. If you take action you will succeed in meeting or exceeding your goals. Thank you Dean and everyone who contributes to our inevitable success!
Mark
I am trying to build my team and I am not sure where to go to find quality people such as real estate attorneys, good title company, etc. as suggested by the SFL system. Also can I do my first deal without all of these players in place? I am feeling overloaded with info right now. Can anyone help?