Just make sure get the keys while waiting for the contract to get signed

Just make sure get the keys while waiting for the contract to get signed

I got this Lock up with a great price in a Hot Neighborhood. This time is from a Post Card that I sent and when I check the address, the property has a Tax Lien of about $1,500. The owner is in Califoria and i'm in Maryland. He sounds very motivated and would ask his Son In Law to show me the property.

We agreed to a certain price that I can make some decent profit because buyers in that area are lined up. Since the owner wants everything on mail (postal) I mailed him the Contract last Thursday, April 22. So, to make the long story short, I talk to him on the phone, asking him if I could get the keys to his property so I can put inside the Lock Box,

He agreed!!! Now I have the keys to the property without the signed contract to make sure I have something in my hands before he change his mind. LOL. I just discovered another technique to lock in a property from an out of state owner. Blessings to all. LA

__________________

Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-


That Is Thinking Outside The House

You have the keys, are you a lucky one. All the best. Please supply details later. God Bless.

Sandra

__________________

"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.


Congratulations

What a great idea. Congratulations are in order. I'm also from California. God Bless you both.

Kathy Van Dyke


Getting Keys

Wonder if buying the tax lien would help? Gaining control of the property especially the keys for access is important, way to go and let us know how things go for you so we learn too - thanks!

__________________

Never Give Up, Never Surrender!


Well Said!! Do not look at the difficulty!!

Also is there any thing too hard for the Lord and the answer am so glad is NO! one of my favorite scripture is I can do all things through christ whom strengthens me, phil 3:4. much blessing the bess is yet to come.

__________________

For thou, O God, has proved us thou hast tried us, as silver is tried. Thou broughtest us into the net, thou laidst affliction upon our loins. Thou has caused men to ride over our heads, we went through fire, and through water, but thou broughtest us out into a WEALTHY PLACE. Psalms 66:10-12


DITTO

I have one to share, we do not have a signed contract but the keys and we are living in the sf house. Will be meeting with the sellers RE this week to decide if I want to Lease-Purchase or buy now. Onwer is in Florida and I'm in Connecticut. Ummmmm, any suggestions? What would you do?


Ditto

I'd wait to see how your meeting with him goes. Prices may still go down, but at some point the interest rates are going to start going up. And if you are in a position to buy it, the monthly mortgage payment may very well be less than what your rent will be if you stay in the house under a Lease Purchase Agreement.

Do you due diligence like you would with an investment property you were consider buying. Work the numbers and then make your decision.

__________________

Cindy

Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.

The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart

"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard


The tax lien

That lien is going to have be paid by someone at some point and if you want the property I would suggest buying it now. First please check and make sure someone else has not already done so. If they have, they are in first position to own the home if the owner lets however much time he has in that state to pay off the lien holder lapse. If someone does hold the lien, check with the county to see if he can sell it to you. If he can, he may want more than $1,500 for it. The easiest thing would be to front the owner the $1,500 and deduct it from the price you pay for the house. If you go that route, be sure to work up an agreement with the owner and have it signed. You don't want to lose that $1,500. Also, have a title company run a report on the property to make sure there aren't any other liens against the property.

__________________

Cindy

Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.

The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart

"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard


Just got the Signed contract

Just got the Signed contract back from California today. He mailed them to me via Priority mail. I can really sense how motivated he is. So I got now the keys and the contract in my hand.

Yes Cindy, thanks for the advice. It's really good to hear that kind of advice. But in this case, I made sure that in the contract I put " Taxes to be prorated, any previous year's taxes to be paid by seller".

Thank you very much for all your comments. So far, 2 called today who are interested to view the property. I did not give them the lockbox code yet. I am trying to make sure first how serious they are. Blessings to all. LA

__________________

Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-


Great Tipss!!!

Great experience,!!Now I know that it will help in the future thank you!!

__________________

Israel Diaz


New infomercial?

Has anyone else seen the new infomercial where Dean and Anthony Morrison teamed up to write a book about Domain name type real estate?

I saw it last night and this looks very interesting. It appears it takes a lot less money to get started than it does traditional real estate and the profits are unlimited! You can buy domain names for like $20.00 and end up either leasing or selling these sites for a tidy profit. I'm actually thinking of moving away from real estate investing and heading this way. As was stated, this type of market is a global one and is not so much affected by local or even national down turns in the economy.

Something to consider!

-Eric


Glad to hear things are moving along so well

You may even have this deal completed by the end of the weekend. How exciting is that?

I'm a little confused by this tax situation. Is there, or is there not, a lien on the property?

__________________

Cindy

Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.

The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart

"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard


Cindy

There's a lien on the property. But everything should be deducted from the total purchase price during the clossing by the Title Company. I'm not sure if what i'm doing is right, I really appreciate if you can further enhance my knowledge about dealing properties with Tax Liens.

Blessings to all. LA

__________________

Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-


Contacting Dean Graziosi

I've been thru this site over and over and find NO MANNER in which to contact Dean personally. Does anyone have an in-road, an email, a PM? We would love to relate directly to Dean some of our recent experiences.

Rick & Peggy
Eagles Crest Properties

__________________

Wishing you Happiness and Prosperity,
Rick & Peggy
Eagles Crest Properties


A Letter to Dean

My wife and I have formed a company and begun our journey into Real Estate Investing. So far to date we have:
Attended two of your seminars both in Pasadena, CA. The first was a short one then a 3 day Seminar we paid for.
We purchased the “Prop Stream” software in Pasadena as it was every penny we could put together. We do so want to and will attend your Success Academy after we finish our first deal.
Named Our Company and its Officers.
We built and published a web site.
We obtained an 800 phone line with multiple extensions and recorded all messages.
We sent out Mortgage Broker letters and secured a Great Mortgage Broker to work with our contacts.
We sent out Real Estate Agent letters. We received one response that was hopeful, but when she didn’t want to do a simple Market Analysis to assure us she was in tune with the market withdrew our offer to work with her. We need someone with Drive and Desire who is not afraid of WORKING for a Solid Stream of Income.
We have placed ads in Craig's list and are already getting calls from buyers.
We have 2 serious Investors with cash up to $1 million on one part and $350,000 on the other and a third interested in a Lease Option.

We’ve purchased and hand written our bandid signs and begun the process of putting them out in different areas.
This process has required commitment of every penny of our Income to this point. We are out of funds and needing to complete what we have begun.
Herein lies the problem; at this point we are wandering aimlessly trying to put together the “Numbers” to make sense to make a deal work out. We don’t really understand all the information on the Software and how to put it to work. We know that this is all “Revealed” either in Scottsdale at the “Edge” event or more likely it’ll be in the “Success Academy”.
So here is what we propose, If you would kindly guide us through this process to create and finish the deal, we are willing to Sign Up for your “Success Academy” Right Now! In addition to that we would be more than happy to offer you a percentage (yet to be determined) of the transaction when it finishes. We’ll sign a contract to that effect if you would be willing to TAKE A CHANCE with us and Help us Help tons of People and create as much Financial Relief and Freedom to as many people as we can along the way!

We’re hoping you see this as a “WIN—WIN” Situation and would love to talk to you further about this. Please call us at your earliest Opportunity and lets work together to make a brighter tomorrow!

Wishing You Happiness and Prosperity,

Rick & Peggy Klauss
Eagles Crest Properties
661 803-0391

__________________

Wishing you Happiness and Prosperity,
Rick & Peggy
Eagles Crest Properties


Rick & Peggy

Welcome to DG.com. As you can imagine, many hundreds of posts are made every day to this site and Dean doesn't have time to personally go through all of them in addition to running his businesses, writing books, and filming his TV shows. Plus, he needs to have family time.

If you would hope to have your post catch his eye, I would suggest that you start your own topic, perhaps with the title - Dean, please read. At least he, or one of the DGadmin people, would have a better chance of finding it. Dean also comes on the site himself when possible to see what we are all up to. When he's here, if you click on his name the link will take you to his page and you can leave a note for him there. As he states about 3 or so messages down, there is no way he can respond to everyone, but at least he will see what you've written.

I'm wondering, since you're willing to sign up for the Success Academy right away, why don't you go ahead and do so? Everyone there is on Dean's team and qualified to answer your questions. At the very least, why don't you go ahead and give them a call to discuss your situation.

Finally, welcome to the DG family! I have been rounding up people in the LA area to go to REIC meetings since they are an invaluable means of meeting people to share ideas and possibly team up with. I post in forums starting a week before the meetings to alert people that they are coming up. I've also started an LA Investors group in the REI Clubs/Groups link on the left side of the home page. What I'm hoping to do is grow it to the point where group members can get together for encouragement, to bounce ideas off of one another, help one another work through any problems that come up while pursuing a deal, and perhaps even end up partnering on some deals.

__________________

Cindy

Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.

The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart

"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard


Ira

I'm just beginning to learn about liens so I'm not qualified to tell you specifically what to do. But I do know enough about them to know to be careful if you don't know enough about them.

Do you have an RE attorney? He should be able to confirm in a quick phone call if the lien is settled at closing. I'm just not sure if the lien holder can't bring the entire process to a halt if the lien is not paid off before you go into closing. When you buy a lien, it is so you end up recovering that investment (plus the much higher than anything you'll find in a bank) interest rate. If the owner doesn't come forward to pay you off before the lien comes due, and for some reason, no one else with an interest in the house (mortgage lender, etc.) pays you off, then you end up with a house for a very small investment. Somewhere in the back of my mind I think you need to settle it before going to closing. Could be 100% wrong. But better careful than sorry. If you don't have an attorney, if you call the county office that issued the lien they should be able to give you an answer.

__________________

Cindy

Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.

The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart

"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard


Assignments, need pre approval

I have made a few offers and I keep on getting that I need a pre approval to submit offers from almost all of the agents. I don't have pre approval due to lack of credit score. I have several investors whom I only know by contacting by phone so I certainly can't ask them for pre approval letter. How do I get by this road block so I can submit my offers?


Hi John

I assume you're doing a wholesale deal? Do any of your investors have enough cash to cover the offer? Most serious investors should. If one of them wants this property, have them give you a POF (proof of funds) to submit to the real estate agents.

__________________

Cindy

Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.

The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart

"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard


Thanks Cindy

The problem that I'm having is these offers are potential deals. Each offer is a different criteria so I don't know which investor would be interested until an offer is accepted.


Your buyers

Why don't you go through your buyers list and figure out which props match up with the criteria they gave you as to what they are looking to buy. In other words, if they want SFHs, 3+2 or 4+2, a certain size lot, whatever, match what they want with the props you have. The amount of money they want to put up also compared to what you think the deal is worth after you run your numbers.

Once you've done your match-ups, send the buyers that you think might be interested a description of the house/property, the type of neighborhood it's in, and all the numbers. You can give them everything but the address. If the deal makes sense to them, they'll get in touch with you to partner up on it.

__________________

Cindy

Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.

The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart

"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard


OK

Thanks again Cindy. I appreciate your help. I will give it a try.


i need help here

ok i know of a company that will buy any home for 45-50 cents on the dollar and you make 3-8% of purchase price.
i also have a company that will fund 100% if you have a end buyer.
here is where i need the help.
i found a home for 40,000 that is worth 151,080 arv.
i can buy for the 40,000 using the second company and do a back to back with the first selling it at 75,000 making a profit from sale covering costs and still getting 3-8%of the 75,000sale so i get paid twice.
i need some one in NYC to help me im willing to share some of profit but you also get the info on how its done and you can keep doing it.
they are both nation wide companies so if all goes well i will share info with all but i need help now.

__________________

Rafael Morel
M&N investment.


Cindy

Thanks a lot. I will always keep that in mind.

I happen to talk to my Title Company and they said that all that is needed is for them or me to order the LIEN CERTIFICATE and they will take care of the rest. Everything should be deducted from the Seller's proceeds during the clossing. Blessings to all. LA

__________________

Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-


That sounds good

It sounds like no one has bought the lien. Makes things much easier for you. Good luck on this deal and please let us know how it goes.

__________________

Cindy

Life isn’t about waiting for the storm to pass…
It’s about learning to dance in the rain.

The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure, the process is its own reward. - Amelia Earhart

"The greatest mistake you can make in life is to continually be afraid you will make one." - Elbert Hubbard


This is great info I on

This is great info I on liens thank you for sharring keep us posted!

__________________

Stop thinking just DO IT!


Keys

This sounds great and sounds like you already have this one in the bank. It is great you arranged this especially with the seller so far away. Keep it up.

Jeremy

__________________

This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams

Bruce Springsteen


Which contract did you use to "lock up" the property?

I wanted to know which contract that you used when locking up that property. Was it one of Dean's contracts that can be printed/downloaded? I have several that I am not sure about..."Agreement for Deed" or "Agreement for Purchase and sale of single family residence"? Please let me know, much appreciated.


This one is somewhat

This one is somewhat different because I don't specify that i'm going to assign the property to onther investor. All Real Estate Contract in my State is Assignable. Blessings to all. LA

REAL ESTATE CONTRACT OF SALE

This contract dated April 23, 2010 in which Buyer: _____________________, offers to purchase from Seller: the following _________________described real estate, together with all improvements thereon and all appurtenant rights, located at:
Address: __________________

In consideration of the sum of $100.00 in check or money to be held by Title Company until closing with the balance of the purchase price to be paid in cash at settlement, seller agrees:
1) The purchase price is to be Twenty Two Thousand Five Hundred ($22,500.00) payable in cash at closing.
2) The conditions of this Purchase are as follows:
a) Property is sold in “AS-IS” condition with no warranties made by the seller. Seller will make Buyer aware of any known facts that affect the value of the Property.
b) Seller and tenant (if any) will make property accessible to show partners, lenders, inspectors, appraisers and contractors prior to closing.
c) If Buyer is unable to complete the purchase for any reason other than financing, the earnest money deposit shall be forfeited to the seller as total liquidated damages and buyer is released from any further obligation under this contract.
d) If Seller cannot provide clear title, Buyer will be released from any further obligation under this contract; otherwise Seller promises to sell under this contract.
e) Buyer shall select closing agent. Closing to be held in county where property is located.
f) This agreement is contingent upon buyer obtaining financing
3) Taxes to be prorated, any previous year’s taxes to be paid by seller. All attorney closing fees and customary closing costs shall be PAID BY THE BUYER.
4) Closing date shall be on or before 30 business days from the date signed below by Seller. Seller grants any extension needed to clear title or to complete closing documentation. Title to the above described real estate to be conveyed by Warranty Deed or other customary instrument of transfer. Title is to be free, clear, and unencumbered, free of any county, city and federal liens. All liens against the property shall be paid at closing by the seller.
5) This offer, when accepted, comprises the entire agreement of Purchaser and Seller, and it is agreed that no other representations have been made.
6) Ground rent and water shall be adjusted and apportioned as of the date of settlement, and all taxes, general and special, and all other public or governmental charges or assessments against the premises which are or may be payable on an annual bases (including Metropolitan District, Sanitary Commission or other benefit charges, assessments, liens or encumbrances for sewer, water, drainage or other public improvements completed or commenced on or prior to the date hereof, or subsequent thereto), are to be adjusted, and apportioned as of the date of settlement and are to be assumed and paid thereafter by Buyer whether assessments have been levied or not as of the date of settlement.
7) If Seller or Buyer defaults under the terms of this Contract, Seller will be liable for the amount owed to the title company for the title work. If buyer defaults under the terms of this contract, Seller shall have the right to market the property. The parties hereto bind themselves, their heirs, personal representatives, successors and assigns for the faithful performance of this contract.

Date:_______________ Date: ________________________

Seller: _____________________________________ Buyer:__________________________________

Please Print: ________________________________ Please Print: _____________________________

__________________

Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-


Great Job!

I am glad to see you are finding great deals! Out of town owners are a goldmine for us wholesalers. You get complete control of the property... way to go!

__________________

Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10

http://realwholesaling.com FREE wholesaling tips and resources!

To your success,
Carol Stinson


You set a great example to all of us

Hi Carol. A lot of DG members here doesn't know that you're the first person I ask for help when I was just starting out nearly a year ago. I reached out to you, and you did not hesitate to do me some great favor. This may sound awkward but again from the bottom of my heart, THANK YOU VERY MUCH. Blessings to all. LA

__________________

Everytime you repeat the words "I CAN DO IT" with conviction, you cancel or override your fear and increase your confidence. By repeating this affirmation over and over, you can eventually build your courage and confidence to the point where you are unafraid. -Brian Tracy-