OfflineMarried with 2 little girls, age 7 and 9. I'm from Asia and came here in Northern California in December of 1999. I started working by March of 2000 until end 2010 as an Exec. Assistant. I enjoyed my job but not the time I leave home and come home late to take care of my kids. I feel like I'm missing out to see them grow up and be there for them. I'm a very hands on mom. In Asia, we never stop helping out the families we left in our country so I was doing that all this years in a regular basis since I came here in US. But it suddenly became really hard for me to continue with a slow economy and my husband not being able to work. I need to support my family want to continue to help my parents and siblings again if I can. So, I've decided to check the Real Estate Investing.
When my parents in law passed away, I was assigned as the Administrator of the Estate and sold their home in the Bay Area and distributed the money to 4 heirs, (one is my husband). With that, we were able to buy a home in cash, but not in the Bay Area. We just can't afford it. After reading Dean's book, I felt so bad that I didn't know it before and realized that I could have invested the estate fund in real estate prior to distributing it so everyone was happy for a big share. I knew nothing about real estate. I also felt bad about jumping into buying the house we have from Fannae Mae without much of negotation. I offered more than what it was listed, I was afraid to get turn down. I also think that I didn't have a good sales agent to work on my favor. But now I know more. I just wish I knew it before.
With all the information I am gaining from reading the books, being in the DG's website, I am starting to build my confidence, with enough knowledge, confidence, inspiration from all of you and by the guidance of God, I know that this will work out.
Goodluck to us all and God bless!
REOs and Foreclosed
To Dean first of all, thank you for your good heart to help a lot of people like us who are looking ways to help our families.
To all here in DG's family, you all make me feel better to see that I found a place with people that have the same interest and are willing to help others.
Question:
I need some clarification on how to deal with REOs and foreclosed homes and how to get them in contract? Do you do this the same way as if you buy the homes from the owners and tell them how long you are going to contact the homes to resell?
Thank you for your time and I wish us all the best in investing.