FAQ: Answers To The Most Asked Questions - Start Here

Hi, my name is kevin,
I live in edmonton Albrta canada.
Are there many other Canadian investors on this site, would you suggest I stick to my local area.
Or should i try some investments in the states, if so where would be good to buy.
I have been down to Vegas and seen some great deals but have been told this might not be a good place to invest, any comments would be much appreciated.

ok this might be a lil long but i think it might be worth it. well here we go. well my name is alejandro munoz. i am 19 years of age. i got deans book about one week ago. i finished the book about three days ago. its the only book i have ever in my life read from front to back, word for word. now i understand most of it. but the thing is i really want to make this work. i trust dean and all of you to help me get started. but the only thing right now is that just yesterday i got laid for due to not enough work at my shop. im looking for a job and at the same time trying to keep doing dean strategies. i am behind on rent, bills, car payments, and other things that make not only my credit but my wifes credit look bad. i saw deans infomercial and i loved it from the first five min i ordered it. i read it and took notes. one thing i really want to do is succeed in life with my wife and be debt free. the way things are right now in kingwood tx i dont know how bad it will get. i want to get in to deans student school to get more help but i dont even have enough gas in my van and i have ten dollars in my pocket to last me till monday. as i look for a job i keep thinking to my self you must keep doing what deans says. and at the same time i think to myself what if it doesn't work. well the truth is i think that deans progams will work 99.999999999% and me having a job right now is like about a .000000001% and keeping it might be hard. alot of businesses out here are closing down or selling. especially after hurcane IKE passed by. im worried about my wifes debt and mine. if you know anything that can help please let me know. i wont give up on dean no matter how long it takes me to sell my first house and pay everything my wife and i owe. thank you.

this is mainly for dean if you read this dean pls im asking you personly for help. i want to be one of your students but i have no money no credit. i almost have nothing. i dont want to lose anything of mine. especially my wife. but i will put in more than enough time and effort to try to be debt free with your program. if you or anyone you know that can help me pls pls pls let me know. i really believe you and your team. and again i am 19 years old i have bad credit almost no money and and VERY VERY behind on lots of bills. things my wife and i didn't expect. if you can help me pls dean or anyone that reads this pls pls call me or e-mail me. i wont give this up ill do anything to make deans program work.

thank you everyone for reading:

alex munoz

(661)917-9494 or alexz_bitnezz@****
this is a cali #
but i live in kingwood tx 77339 about ten min away from houston. thanks again

If I see a property I want to put an offer on (in the mls), is there a way to take care of agent fees without any out-of-pocket? Any help appreciated.
Dan

Hi Robbie, I'm new at this too. But I've found the easiest way to get started is to find a handful of houses, run the numbers on them if they will be rental units. Or find the values if they will be flips or assigns. Write up offers for the rentals , making sure they will cash flow. Or, offers 30-40% under value for assigns. I have been emailing the offers. You will get some negative responses to your offers. People are emotionally attached to their house. It's just part of the business. Just take action and make a few offers. I will attach a sample of an email offer. (Feedback is welcomed):

Dear xxxx,

Here are my thoughts with respect to 330-332 Madison Ave. xxxxxxx, NY:

I would be willing to pay you $302,000 for the houses. I would like to propose to you, that I would take ownership of the houses for $302,000 with you holding the mortgage. Payments would be handled through a third party escrow company. Payments would be at 4% interest for the first (2) years and 5% for the remaining 28 with $0 down. This would have a balloon payment after 5 years. This would keep the payment low enough for me to rent it out and cover all expenses including taxes and expenses. My lawyer would draw up the actually contract because I am not exactly sure of all the legal terminology. My goal would be to refinance the house in (2) years, most likely within (1) year after the "seasoning" period so you would be paid off in full. By doing it this way I could get in without any “out of pocket” except taxes and misc. at closing and you could walk away now. You would receive approx. $1,442 per month (principle and interest). Keep in mind, I am also covering all taxes, upkeep, upgrades, etc. You would have no more obligations and under default of payment you would get the houses back plus all payments I have previously made. This offer is contingent upon my attorney & business partner approval and inspections.

I hope this offer will benefit you. If you think this is something you would be interested in, I would like to see the houses. I would like to take ownership asap but would also be flexible, and accomodate any moving plans.

"Magic Button" is term used quite frequently. I have all Dean Books/pamphlets. Looking for a condensed list of the subject topic or the book & pg. numbers referenced.

Hi everybody! My name is Terry and I literally just finish the book, and a couple of days ago have been looking for homes in my area. I even posted an ad on craigslist, but some of the "killer deals" I think I may have found, I am having trouble to locate the FMV for online? Is this something I may have to start putting a little money into? Also I was curious in the book it stated that there were numerous techniques used to qualify a buyer, but the only thing that sticks out to me is find a mortgage broker and give it to them. Is this right?
?

Hello all,
I have an opportunity to buy a bank owned property valued at $ 300,000.00
for $ 215,000.00 from the bank. I believe my flip turn around to be quickly. Ther are 3 other people lined up to buy this house and are expecting to pay 300,000.00 to 325,000.00. I am friends with the exclusive deal realtor so no one else knows the 215,000.00 number. The initial lender I have spoken to are willing but want 20% down. No pre-penalty. Any help with some ideas to get away from the 20%. I have it but hate to tie up this money.
Thanks,
Jeff

Hello,

Today is April 5th, 2009. I bought Dean's books a couple of weeks ago. I have been reading and getting excited about starting. The problem I have is that I am in foreclosure. I am in communication with my back who finally approved me for a loan modification. My mortgage was a bad ARM that an attorney hooked me up with. My mortgage went to over 2,000 a month which was hard for me on a teacher's salary. It was 1,095 when I started out. My loan mod is 1,145 including taxes and insurance which is great. The problem is they want over 9,000 to modify my ARM. Can anyone tell me if this is correct or if there is any agencies out there that can help me? The bank does not have a sale date yet, they are waiting for me to come up with the money. I have no where else to go because my credit score is under 500 due to the foreclosure. Any advice would be appreciated. Thanks

well to star i have to say that i read anita 6 ways to raise cash,
this is my first day in the web and love all this kind of info that
is in here for all of us,

i buy Dean`s book the second time i saw him on tv,i got the book`s
4 days ago and i just finsh reading both book`s and i can say that
im in love with all this great information and i will use it soon as
i found my first deal wich think i have cause on the street where i
live is a house that is been on the market for more than 3 months
and i think that is my first posible deal.

another good thing is that before i hear about Dean`s strategys
i friend of my father give me a good deal on a house, he let me
get that house for no money down and for like 11.000 under FMV,
of course it need some make up but i have alreday start it and it
already looking way better, so i will used that house to flip or
sale or something so i can get money and re invest,.

i have a good good feeling about this real state deal, i know it
will work but ok i wont make this any longer i just want it to
say hi to every one, to anita and say good luck to all of us
lets make posible so we all can have a better life from now on

Anita, Just got Dean's latest Book package ...... Sorry for coming probably to the wrong Forum ??? Just wondering how I contact ah coach or someone to get rolling with . . . . I'm located in North Carolina ( Jamestown) How do I contact stay in touch DG's People ... keep going when I work Swingshift ( 2pm to 11:30pm Sunday thru Thursday ) They'll want ta talk to me and I need to talk to them ???? Are You on the East Coast ? Will this cause another problem ??

Of course there's ah whole story that goes with this

Love to talk with someone on the phone ... Ya I know Customer Service Right ?

Ray Sheibley
[email protected]

Can someone help me find and locate good Mortgage Broker for the Los Angeles County Area for investing with foreclose or REO properties.

Just wanted to see if anyone knows if there is a specific form to use for making offers on reo properties. If there is, where can I get one? If not
do I just make offers via email, fax, etc...? Please help. Thanks.

Hello Dean and Friends,

I purchased Dean's books to learn strategies on not only how to become a real estate investor, but to help myself get out of foreclosure. I am a teacher and I got a bad ARM with the help of an attorney. Anyhow my payments went over $2,000. I told my lender I could not afford the payments. I have been investigating methods to save my house. First, I contacted my lender who said I did not qualify for a loan mod only a repay. They wanted over $6,000 down which I don't have. I contacted Making Homes Affordable.org and a counselor prepared financial statements for my husband and I. It was then sent over to my lender for approval. Guess what? They approved my loan mod. My mortgage is now $1,145 including taxes and insurance. Here's the kicker, they want $9,400 to do it. I said the payments are great, but the down payment isn't. Hello who is the stimulus money helping? I told my counselor and she referred me to nidonline.org a HUD home couseling agency to apply for rescue funds. My appointment is Thursday 4/9/9. I will give you an update on my status. As of today 4/6/9 I don't have a sale date.

If anyone knows any way I can raise funds or any other program that can help please email at netsiered@****

Thanks

Annette

I have read about short sales programs that promise very little work on the part of the investor to make good profits. I believe one of these programs refers to it's method as "auto pilot." Does anyone have any thoughts or info on this? I'm not new to investing but I am new to short sales. Also, I work full-time and am looking for a way to start investing slowly and work my way into full-time investing. Any feed back would be appreciated.

Just finished Dean's book and I am both excited and terrified. I would really like to here from any Canadians who are succeeding. I know our systems and laws are slightly different not to mention the forms used in a deal would be different. I want to get started but don't want to look like a complete idiot.

Thanks,

Ready, willing and Anxious

I went to the website www.deangraziosi.com/24hourscript but website was not found. I am looking for a local voice mail system for website and business cards. I'm in the Conyers, Georgia area. Can someone help me?

I wonder if it's possible or advantageous to consider forming a 'non profit' LLC perhaps to provide affordable housing to low income, handicapped or some other specific group of individuals?

I recently purchased Dean's book and I have yet to receive it much less have I read it. I am currently a mortgage originator, who in the past made a ton of money using the sub-prime market, but had no idea how to invest it. So its all gone the loans became more difficult and died so did my success, I believe truly in my heart that with my experience and commitment I can succeed. But I have lost it all, my wife is telling me there is no such thing,"buy with no money down or credit" For all of you that believe like I do please just some words of encouragement.

You have come to the right place! Welcome to the DG family, greatest encouragement/learning REI site there is! Just jump right in here and enjoy what the rest of us have found: a group of like-minded, positive people that are (or are on their way to) making it big in Real Estate, and of course Dean himself who is constantly in the middle of deals all the time! Honestly, you will find so many success stories in here and great resources, you'll have to share them with your wife to show her that it is REAL!
I'm excited for you to get the book and get started! DON'T you lose that belief in yourself or let the negative start creeping in. You KNOW that this works or you wouldn't be here. And you've got a ton more knowledge than a lot of us did when we got started.

Hoping to hear great things from you as you step out into REI!

God bless,

Rina

I am a newbie, an electrical engineer by trade. I have always wanted to live in Florida and coincidentally, Florida appears to be in a very very down part of the real-estate cycle. My question is really focused on whether my "newbie" status is showing through here or whether I have correctly assessed the cycle or not. Florida apears to be even well below the national down trend. Obviously since I live in NJ am not a local, I am not aware of each individual section of the state. I am fully prepared to pick up and go
to Florida and start my business. Any feedback from the staff or on the general mkt conditions in any parts of FLA is appreciated.

John

hi, everyone. i'm new to DG, and i was wondering, if any can tell me can i do a lease option on forclousre? thanks.

Im looking to acquire a property in philadelphia, i have around 25k of cash and excellent credit.

I was a W2 employee for the last 3 years and the first half of 2008 and then i started as a self employed 1099 on the second half of 2008, the banks that i contacted for financing told me that they need at least 2 years of self-employed documentation so they can finance the deal.

Its there another way or loan products that i can use with my current financial status (self-employed) to get financing for an investment property?

Thank You

I was told that "bird dogging" was a good way to get started if i dont have the money to invest or good enough credit to get the money. I was wondering if anyone can tell me how to find investors in my area. I dont even really know where to begin to look for them.

Hello

My name is Darlene and I just the program. I'm very excited and can wait to read the books! I'm disabled, due to a car accident in 4/88 which I use a wheelchair. I work full time at hospital , but want to become a real estate investor. I'm in the process of repairing my credit and saving money to purchase a foreclosures 2-4 plex properties in Los Angeles county. Please if anyone have any suggestions for me. Don't know to much about purchasing 2-4 plexes under foreclosures.

IM READY TO TRY MY FIRST DEAL..I HAVE FOUND A SELLER..WHERE DO I FIND THE INVESTOR DISCLOSURE AND SELLER ACKNOWLEDGEMENT FORM..THE PURCHASE AGREEMENT FORMS..SELLER RESIDENTIAL PROPERTY DISCLOSURE STATEMENT..DISCHARGE OF AGREEMENT TO PURCHASE..AND WHAT FORM DO I NEED TO PRESENT TO THE NEW BUYER TO LOCK THEM I AND IN AN AGREEMNT TO BECOME THE NEW BUYER BEFORE I PRESENT THEM TO THE NEW SELLER?

I am very green to all this. I have no realestate experience at all. Wher too start??? On a second note; I noticed that all these comments are in 2008. Is there anybody out there???
If there is, please help. I have started reading DG's book and it is very good so far. Besides reading, where do I start?? Very nervous....
and eager to start and better my family's life.
I do have a full time job and LOVE IT!! But like everybody elese, we all need a little extra money.

Please help...
THANKS

Never mmind I am not a great computer person. I just did not click on the last page. Sorry!! people are here in 2009

can your system work in the michigan area (Detroit)

Just want to ask u about something i brought dean course back last yr read all the
books that came with it.
Got very hype and excited about it. Went my first auction at the court house in my town.
Even went looking at property in near by towns
my ? is i still have that drive and energy were do i make my first step with all
this knowledge.I have help a few friends as far as them getting there first homes.
I FOUND that the mistake,s i made in getting my first house were right there in dean
books.Least just say they were about to make those same mistake,s.
U and several other,s i have read look like u can steer me in right direction.
I'm a trucker by prof icon and i have travel across this country seen more real estate
for sale. then most people could image. i live in MS can u give me little advice
were i should start
thank u and
have a happy
Easter
bmts1435

I'm a Real Estate agent with a client determined to get cash back at closing. We initially negotiated with the Seller for a credit towards appliances and and some minor repairs. This credit set up as reimbursement for items purchased and repairs made; the buyer is to submit a reciept and then be repaid up to the agreed on amount. Do you know if its possible & legal to have escrow cut a check for that amount at closing?

Thanks for your time.

Ben