FAQ: Answers To The Most Asked Questions - Start Here

Have you tried looking for a good mortgage broker? Dean suggests it on page 178 of his book "Profit from Real Estate Right Now". I hope that helps. Good Luck.

Robbie,

It is only normal to get cold feet. What I would suggest is for you to look at doing assignments. That particular stategy does not require any of your own money, or credit. To start, go through Dean's book again and find the section that talks about 24hr msg line. You will need to market your business. Start establishing your buyers/sellers list. There are plenty of properties, so I do not think that will be an issue. Once you have achieved those steps, your own your way!!! NOTHING TO IT, BUT TO DO IT!!!! Also,down the line, you will want to start an entity (LLC,LP,S-Corp, C-Corp, Sole Proprietor, etc) This is a business, it has to be treated as such. Hope this helps

I am very new to this and am very excited on taking the information from Deans books and start acting on them. I am in Phoenix Arizona and I'm just a little stuck on the commissions or fees that would be fair to pay to my realtor and mortage broker and where does the money come from? Is it to be paid upfornt etc.? This may seem a little silly to ask but I would greatly appreciate any help on this matter as I am building my knowledge on this. Thank You All

can anyone please give me some tips on the easiest way to find a real estate agent? what is the most time efficent way to do this? thanks again for all advice.

can anyone please give me some tips on the easiest way to find a real estate agent? what is the most time efficent way to do this? thanks again for all advice.

Hello. I'm new to investing and need advice on a property I might want to get started on. I found a house that is bank owned. Evidently some pipes burst over the winter and the house has mold growing in it now. I'm pretty sure it would have to be completely gutted. I haven't gotten to go in the house yet. This is a 2 story house with a basement in a very nice neighborhood. I heard the house was torn down and rebuilt from the ground up within the last 10 years. the exterior looks great other than the shingles are all curling and would need to be replaced. I'm not familiar with how much mold can effect the resale of house or if their is a lot of hidden cost in getting the mold taken care of other than just gutting and sealing all the studs and affected areas. The listed price is $75,000. If I were to take a guess at what this house would be worth in a good market prior to the mold issue I would say about $275,000. Is history of a mold infested house something that would scare people away in reselling once the problem is taken care of correctly or once the mold is taken care of, there shouldn't be a problem? As I said I havent made an investment yet but I think this house has tremendous potential.

how do you investigate a title for an house

i found a seller that wants to sell his house and i told him i can do it for a fee. he's selling for 150k and i offered to sell it for 120k and he agreed. what do i do next, what papers do i use to actually do all of this, i read the book(cover to cover but still confused), do i do an assignment or iee. i was wondering if someone can tell me the steps from here on, please i reallyy want to help out my family and all.

god bless

first i would like to say hi to everyone here...now my question about foreclosure...when i recieve deans books it also included a program call
"foreclosure alert" i got in to it and it has listing of thousands of foreclosed property..when you pick a property it shows the estimated value and default value...it has a quick veiw window that you click on ...once you do it shows you borrower,bank,attorney ect...
now question "1" is this.. do i contact the attorney to purchase the property or the bank ?

question "2" when it gives the estimated value of the property for instance
let say its estimated at ...$89,503 and default is $20,000 do this mean that if i give the bank $20,000 do i got the property?

question "3" let say if the answer is yes....do i minus $20,ooo from the etimated value of the houes which is $89,503= $69,503 is this consider "equity"

question "4" if yes to the above question...how soon after i purchase the property can i use the "equity" or pull out the equity.

if anyone here could help me with these questions i would appreciate it deeply.
have a pleasent day and my GOD bless you all...thanks.

thank you for ur advice, oh by the way r u from california, if so from where, just wondering.

god bless and stay positive

Yea. I'm from L.A. I'm trying to get the ball rolling but the prices in california are much higher than other parts of the country. I have a brother in Pheonix. I might try some investing over there in the future. Hopefully things work out for both of us. Good luck!

i told the buyer that i have a great deal line up ...but i just don't know have to put the deal together....i post a question and no one haven't help me yet.....and i need help soon.

anyone here knows about foreclosures,,,,if so please let me know ...i would appreciate your help and if my deal go through i would help you when you need me.....my plans are to buy "100" property ......thanks and GOD bless.

Send me a PM or an email: reiproperty4u@****.... Thanks!

on the program "foreclosure alert" when you choose a property it shows you the estimate and the default value.....and it also has a quick view window,

now my question is this do i give the bank the estimated value or the default amount ?
example the estimated value $89,503.00
default value $50,000.00

now let say i give the bank the default value [$50,000] thats if is correct?

do i minus the $50,000 from $89,503.00
-$50,000.00
------------
$30,503.00 is this amount consider what they call
"equity" if so....how soon after when i purchase the property ..can i pull or use the "equity" on the house?.......please if anyone i mean anyone "newbies" like myself or all season "pro" ..could show "all of us" in here how to comprehend this program thanks and please feel free to correct me "correction leads to wisdom"....GOD bless.

im actually going up there to LA(normally long beach area)to look at some duplex's but we should touch bases because i know this great real estate agent that has lots of good deals to look at. let me know if ur interested. my email is pulidosoccer@****

take care, god bless

take care, god bless

I just finished reading dean's book (profit from real estate right now) and I thought I would start looking for nod's on-line. The problem I am haveing is that when I go to my county's (San Bernardino Ca.) web site, I just cant seem to find how to access the public records for nod's. Does anyone now how this can be acheved?

how can yu attract buyers and sells without using bandit signs and the recored message. Its not that I don't want to, just don't have the funds.

You might try signing up for ads on some of the free sites, like craigslist for one. Also by attending some of the real estate clubs in your area. Some of them only charge a small door fee. Calling for sale by owners is another way. These are some things I have had some response to until I am in a better financial situation to do more. But however it's important to set short term goals to keep you moving towards the long term ones. Much success............Lubertha

Hi Lubertha. I was wondering if you could tell me how to actually submit an offer on a house. I know it sounds naive of me, but I'm new and I'm trying to learn as much as possible before I go out there. I really don't want to sound stupid to a seller. I would greatly appreciate your feedback.

It depends on what way you are looking to purchase. Are you looking for a short sale or lease option, etc. Each transaction requires a different form. My suggestion is to look in the book for which direction you are looking to go with. Each section explains in detail to what forms you are required to have to make a purchase offer. Forms are available on this site. Mch success...........Lubertha

Thank you lubertha. I'll look into that

when i call the for sale by owner house what wouls I tell them and how would i get a buyer with out ads or if the online ads don't work fast enough?

when i call the for sale by owner house what would I tell them and how would i get a buyer with out ads or if the online ads don't work fast enough? I read the book cover to cover but i'm still a little stuck and just need a little break down on what i could say to the seller...
thank you so much...

I mostly want to keep it short with them. My goal is to get my foot in the door. Either they are interested or not. I am always upfront with them. I tell them that I am not acting as an agent or broker. I have a unique marketing strategy that is a win win sitation for both involved. I have buyers looking in this area. How long has the property been on the market. And so on. I personally don't try to sell too much over the phone. Hopefully I have created a desire enough to meet. You have to put what works for you in your dialog. Make it personal. It's you your selling! So you have to believe. Keep me posted! Continued success............
Sincereley,
Lubertha

I have a question!

Ok, Is it possible to looking into REO properties and assign a contract to a investor/buyer?

If so, how is it done?

umm click on this link and read what it says, that might help with your first two questions. As for the 3rd question, Dean mentioned in the book "Be a real estate millionaire" there are usualy two agents, the sellers agent and the buyers agent. both charge their own fees but the sellers agent may act for both seller and buyer. (pg 179). hope this helps

http://www.triadhomes.com/content/2008/11/26/article/house_helper_who_pa...

Hello all,
I have read many comments on the site, however this is my first post. I am very motivated to get into RE investing but have many questions getting started.

I am unable to buy and hold properties, as I quit my job a few months back and will not be approved for a home loan due to the obvious lack of consistent income. My current home is paid off, but I still cannot pull out refi cash to invest with for the same unemployment status. So I have been looking into double closing. I have no problem obtaining or paying the premium for one-day back-to-back closing funding(2-3% or so). I understand that FHA loans for B-C transactions are not an option due to the seasoning requirement. So, I assume that my end buyer must be eligible and willing to get a conventional loan, to circumvent the seasoning. Is that correct? In my area there are many potential investments already listed for 50% off FMV. Although I feel some of these are the bait and switch scenario, I am confident that some are the real deal due to sitting on the market for 90-180 days already. I called the agent on a few homes and was told that double closings won't work any more. I have some cash saved, but was hoping to not use my own money or credit(800+ score).

Any info that you can provide would be greatly appreciated. Am I going about this the wron way for my particular situation? I have time available to do this full time, I just need to find my niche. Thank you in advance for your much needed assistance.

Hi everybody this is reggie,i'm new here i ordered dean's book "barem" last month and i'm finishing the "pfrern" book allready today is monday june 1st and i have an appoinment with a real estate agent who said she is going to work with me on wednesday the 3rd,also i am putting together my website and my 1800 # today as well as printing my flyers and maybe today and tomorrow order my yard signs to get started.I would like to know from the experts if i am doing well or what do i need to do different? thank you all for being such as good inspiration.(I speak spanish by the way if is there anybody who'll like to write something in thata language)till next time
reggie71