FAQ: Answers To The Most Asked Questions - Start Here

In the book it keeps saying i have this unique system that could help people get approved if they have bad credit. I dont understand what im suppose to do or how im suppose to do that. Can anyone help me out with that answer?

So I'm new here and to REI. I just got into the mentoring program and I am nervous,every now and then the fear of failure sets in. However I am motivated whenever I read the success stories. I guess my question would be how long does the initial fear last?

I just purchased a house for $12,000.00 and so far I have put about $2K of improvement. I am just improving few things such as paint, floors, windows but dont want to fix it completely as I could be there for months. I just found out today that I need to pay about $1K so the electrical company can hook up the electricity and the meter. There is no meter in the house. Also, the central A/C does not work. Any suggestion on how much should I invest on the house? I would like to sell it for $26K.

Hello everybody,

I am having a problem to find Hard Money Lenders.
My credit score is >720, no debts, no criminals, no bankrupcy..
The only "problem" they think is my income for the last 2 years.. like $28'K and $15'K.
I just told them I had 3 surgeries in 1 year, I did not work enough and that's why my income were very low but now I am fine, everything is behind, I have a steady job and have some cash, I set up my LLC and put $12'K in my business account.

I really don't know what criteria they are looking at to make a decision to be approved to get some $50'K-100'K. They want me to have more than $20'K in cash in my account.. This is ridiculous.. I think they business is provide the funds not to suggest me to go to my bank and deposit a little more $$$.
I just don't understand.. I already have a POF from Coastal Funding, but they do only same day lending..
But this is not what I want. I want a short-term rehab loan.

Any ideas where to get Private Lenders, please?
I will appreciate any suggestion.
BWW I am in IL. Thank you

Irena

Hello Everyone, i just filed bankrupcy, i had to much debt, and my QUESTION is DO YO THINK THAT'S GOING TO AFFECT MY PROCESS WITH THIS PROGAM???? please a need an advice. I really want to do this, THANK YOU SO MUCH.

Javier N.

Hi All.
I just finished college and also finished reading Dean's book.

My goal is to buy 1 or 2 homes and then rent them out.
However, I only found techniques mainly for assigning and selling equity.

What are the techniques used to buy a property and then keep it and rent it for the long term?
Thanks for any help!
MayJean

Hello,

So i have finished reading the book and started looking for buyers- I have found 2 by now. I have a realtor that we agreed to work together, he supposed to submit an offer for me and he is asking me for approval of founds. Now what should i do? i don"t have any founds?

thanks,
Roman

Where on this site to I look for to write a bulletin/blog like you just did? I'm so frustrated I been looking around all this whole sit and just can't find what I need to blog. If you could please help me out on this, thanks...

Nobody has any ideas about this???

I bought a house as an investment 6 years ago. The home is next to a college and renters where easy to get. The house was building equity all was good. Then I started to have a hard time finding renters so I moved in. I still have renters, but I'm one of them. The loan isn't the best but it was all I was able to get into. My income isn't that much making loans hard. Now the house is worth about $100,000 less then the loan, so a refinance most likely won’t happen. The house is a “positive income”, but I wish I could be less lock into. The question I have is, can or do Loan Modification work? If so what is the best way to go a bought doing one? I would like anyone’s help to make this house a better investment.

Thanks G.P.

I bought a house as an investment 6 years ago. The home is next to a college and renters where easy to get. The house was building equity all was good. Then I started to have a hard time finding renters so I moved in. I still have renters, but I'm one of them. The loan wasn't the best but it was all I was able to get. My income isn't that much making loans hard for me to get. Now the house is worth about $100,000 less then the loan, so a refinance most likely won’t happen. The house is a “positive income”, but I wish I could pay it off faster. The question I have is, can or do Loan Modification work? If so what is the best way to go a bought doing one? I would like anyone’s help to make this house a better investment.

Thanks G.P.

first of all a tiny disclamer i have dislexia so please ecxuse any spelling errors i cant help them. i am hoping that you might be able to help me out. my name is Misty and i am brand new. this is my first time to sign on as a member. i came on here on wednesday for the first time and watched about 4 hours of testimonials. as i am not yet too sure about finding a buyer i have thought of what i think might be an inovative way to get one or many, but i am not sure if i can do this idea leagelly. i am going to make up the senario that i am thinking of trying and would like to know what you think of it if you would please.

lets say i find a house that is worth 160,000 and i offer to pay cash for the property at 80,000 and it is accepted, provided i can do this with in 60 days. then i sell lottery tickets for the house at 100 a piece. and when i have 100,000 (1000 tickets) sold i hold the raffel and pay the 80,000 to the seller and keep the 20,000 and give the house to the winner of the ticket i pull. what do you think? please help.

being a newbe, and a brave one i went to my bank today and asked them for a list of all thier reo's and pre-forclosures, but they just looked at me like i was crazy and said they dont handle any of that. i asked them how to get that but they said there is not a way for me to get that. can you tell me where i can get these lists for my area. since i think that is a good place to start. also i was driving this street for about 6 blocks and almost every house is on the market. all with fairly small signs, the ones that are not on the market have small for rent signs. i would like to buy the whole street but dont know where to go from there. also i am a lot vague on finding a buyer so have come up with an idea but not sure if it is leagel or woutl work. if you could give me some feed back on it that would be great!

here is the idea:

lets say i find a house that is worth 160,000 and i offer to pay cash for the property at 80,000 and it is accepted, provided i can do this with in 60 days. then i sell lottery tickets for the house at 100 a piece. and when i have 100,000 (1000 tickets) sold i hold the raffel and pay the 80,000 to the seller and keep the 20,000 and give the house to the winner of the ticket i pull. what do you think? please help.

first of all a tiny disclamer i have dislexia so please ecxuse any spelling errors i cant help them. i am hoping that you might be able to help me out. my name is Misty and i am brand new. this is my first time to sign on as a member. i came on here on wednesday for the first time and watched about 4 hours of testimonials. as i am not yet too sure about finding a buyer i have thought of what i think might be an inovative way to get one or many, but i am not sure if i can do this idea leagelly. i am going to make up the senario that i am thinking of trying and would like to know what you think of it if you would please.

lets say i find a house that is worth 160,000 and i offer to pay cash for the property at 80,000 and it is accepted, provided i can do this with in 60 days. then i sell lottery tickets for the house at 100 a piece. and when i have 100,000 (1000 tickets) sold i hold the raffel and pay the 80,000 to the seller and keep the 20,000 and give the house to the winner of the ticket i pull. what do you think? please help.

i have been wanting to get into realistate for a LONG time and even bought a program about buying tax forclosed properties free and clear with little to no money but when the program came i was so disapointed as per it was books and books of state legeal codes and didnt tell me a single thing about how to go about this. i would start reading and be drifting in less that a page. i saw Dean on tv and thought wow this guy is so genuine and smart and has it all together. i spent my last dime buying his books wishing i had more so that i could purchase the audio format too, but sadly i could barely afford to get his books. i can tell you i cant put this book down! they are page turners and i think wow no problem this will be a piece of cake finaly i found how to get into the door of my dreams! but i dont at this time have the money to go all automated and although i have a big mouth and can talk to everyone with in 3 feet of me i dont know how to find buyers. the properties i think will be no problem at all there are tuns of houses, whole streets infact that have signs out on them, and i want to offer on all of them. also i dont know how to go about doing the reasherch to find out what properties to go after and how much fmv is. i have NEVER bought a house before and would probably have been like ok ill pay that... and taken the offer price before knowing what i have learned in Dean's book. i am not even finished reading it and i am ready to go but since i live barely paycheck to paycheck and have horid credit i am at a loss as to where to begin. any advice would be good

how do i find out if the posts i am putting on here are being commented on or answered? i dont have a computer so am stuck with the limited time of libraries and my friend's school, so as you can see dont have the luxury of being able to go through every page of posts on this page. will i get some kind of flag telling me that my ?'s are being answered so that i can go right to that and read that? in the mean time i am reading all i can get through of these posts before my time ends and i get booted off the computer. there is soooooo much good advice here thank you all for the posts. some of these ?'s are so good i think "why didnt i think of that?" and the responces are wonderfully informitave. i am so excited to be a part of this and will be here as often as i can till i get my own computer and internet which i hope to do with my first close :)look out world here i come! ill see you at the top!

this responce brings tears to my eyes. because my fience lives in another country and i am doing all i can to bring him here perminately too. i feel for you girl i HAVE to make this work too. but i have already made up my mind that not only is it going to work but it is going to get me to my goal of being free of the ties of money. if you dont know what i mean by that i mean that i will have so much money that no mater what i want to do with it i can do. no limitations and no worries over it. i will be like Dean and probably many others here and be a multi millionare. and when i am i plan on using it to give back to those who need it most. i want to help with aboused, and abandoned children and animals. they dont have a voice to protect them but i do, and all that stopes me now is that i live off romen (10 cents a package) and barely float by on haveing enough gas to get to work every day (i drive an hour 1 way every day) obviously my scope of this program is that i am going to have all i want or could ever dream and soon those poor children and neglected animals will have my voice and my money to help them! and soon my future husband will be here to help too. there is a latin saying that is my very favorite of all time. i use it as my life mantra and plan on applying it here too. its incredo ve da. it means by believing one sees. most of the westerns world messes this up and translates it seeing is believing. but that is to lack faith. by believing one sees is to make it real through belief that it already is. thank you for your responce to this other comment. its lifted my day too.

my name is misty too. every ? you asked here i am feeling. i think i have a handle on the how it works i am just not sure how to fit the puzzle pieces together to make it all come out for me. i have to do the assignment or finders fee method cause my need for the cash is imediate. they have cut my hours at work and i am already barely floating by. i am here at the library today reading all i can on this forum so that i will know more how the pieces fit. i cant wait to read the responces to your post. thank you for asking such great ?'s your fellow newbe... another misty lol

actually i live in mountian time. and its the same as az. the time is 2 hours not three different. and when its on daylight savings cause az doesnt do that then it becomes 3 hours different. but since its spring you are on the same time zone and its 2 hours different. i work in a call center and call all over the country i look at a site map daily but the time zone map should help you with this confusing mess too lol. hope this helps.

i spent 6 months in skagway durring the summer cruise season working for the largest diamond company up there. i love alaska. the most beautiful place i have ever been in my life and i am a world traveler having been and lived in most all theses places... 33 states and 23 countries (and counting i hope) but i could not live in your winters.

what is the heloc you talked aobut in your answer to linda's ? this is the first time i have heard this tearm and want to be sure i understand what you are telling her about the property she has found.

I need to get my wife interested or do I?
She is very skeptical and probably thinks I will srew up somehow.
She rolled her eyes when I mentioned I bought the latest book.
Any Ideas on how I can get her onboard or should I go it alone?
We are on a fixed income and I am a disabled 61 yrs. old man.

Are there any others here just getting started with their quest into this real estate investing from Deans book? If so, could you please share some tips and tricks on how to go about aquiring that first property. Things to say and forms to use. Thank you!

Hi everyone! I just recently got Deans book and am halfway through it and am really excited about going out there and buying homes with the no money down technique. The problem is is that I dont know exactly where to start, or what to say and how to go about it. I guess it's first time jitters getting to me. Can someone who's also a first timer help point me in the right direction....you know, what to say to the seller...how to get the seller to sign the property over to me....how to get a buyer for the property once I've got the property... and so on. Thanks guys, and yes I will continue reading and studying Deans book and all the online help this site provides....just need to get past this mental wall I've got up. Btw... Did I mention that I have poor credit and am currently among the ranks of the millions of layed off workers.

Hi all I am new to this process and I loved Deans new book. I am now reading his other book Be A Real Estate Millionaire. I am not ready to join the Real Estate Success Academy due to finiancial concerns. However I would like to get my first couple of deals going and use the proceeds from that to join the Academy,is this reasonable? Just looking for some feed back. Thank you.

Hi we just got started in the program and we have found abandoned property. how do we find out who the owner or bank is

I live in Salt Lake City Ut. all the counties have a sign ordinance that will not allow any road sign ads for investors what other ways can I get the word out as to what Im trying to accomplish? I have 100 sellers signs and 100 buyers signs and a paid message recorder for people to call to find buyers and sellers.. any suggestions?

there is a house down the street that has been on the market for over a year.what should i do to get an offer excepted.and if it is excepted i am concerned about getting financing what do i do

May 11, 2009

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I posted this on Dean's FAQ Forum last month but did not receive a reply. I hope it is not a problem for the web site supervisor, but since I did not receive a reply from my original posting, I decided to post this again. Is anyone available in the Raleigh/Durham area in North Carolina who would be willing to help me get started? Please read below.

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On July 28, 2008, I was involved in a 43% Reduction In Force. I have very strong skills in my field as a Facility Manager and didn’t think that I would have trouble finding a good job. Wow, was I in for a rude awakening! When I started my job hunt, it became very clear just how bad the economy is. I posted my resume on all the major job boards, used recruiters, looked at the want ads, etc., etc. The end result is that I have not to this point been able to find work in my field. Due to this, I have been on unemployment insurance since then, which is $494 per week (with an additional $25 per week recently added due to the Stimulus Package). This doesn’t go very far, it barely keeps my wife and I going but does NOT provide enough money to make house payments or payments for health insurance (we have no health insurance).

In October of 2008, I purchased Dean’s book ‘Be A Real Estate Millionaire.’ I didn’t do anything with this. Then I saw another one of Dean’s infomercials and in February of 2009 purchased his book ‘Profit From Real Estate Right Now!’ Well, since I couldn’t afford to pay for the training then (or now), I didn’t do anything with either of these books until today, when I finally started reading his current book and I must conclude that this is fabulous! After seeing how Dean breaks down the process step by step it seems clear that I can do this and become financially independent the same as others that have used his methods.

My real motivation about doing this now is my current economic condition, which has gone from bad to worse. As you could probably conclude from my opening paragraph, my wife and I are now on the verge of losing everything we own. So I have two questions to ask the group:

1. Can I be successful with this just by reading the book? I would love to have a trainer but I just can’t afford it (unless there is a possibility of paying for the training after I have made a few sales. Is this possible?)

2. Is there anyone in the Raleigh, NC area who is successful and would be good-hearted enough to show me ‘the lay of the land’ to help me get started?

Here is hoping for everyone great success!

RETom 2009

Hi all,
I'm new, and I finished Dean's book last month, and I am still looking for my first deal. Is there anyone in southern Ga,around Atlanta. I am in Jonesboro. My niche is assignment and lease purchase. Does anyone know how long you can sandwich lease in Ga? I heard there was a time limit?

"Aint no stopping me now"