FAQ: Answers To The Most Asked Questions - Start Here

It may be a bit harder, but you can do it. Here's my tips:
1. You're going to have to be much more professional then the next guy/gal. People need to take you seriously, make them.
2. Do your homework, know what you are taking about. Be the smartest in the room.
3. Go find some deals and bring them to seasoned investors for help, starting out you might need the guidance.
4. Don't give up, keep at it.

If you have questions or something I can help you with..let me know. I might be a guy you want to know.

Regards,
Nick

Hi everyone,

I live in Mifflinburg, Pennsylvania. I am 35 years old and just recently graduated with a B.A. in Journalism from Penn State University.

I have been unemployed ever since and haven't been able to find a job in my career field. I have worked several jobs over the years in the restaurant business, mostly as a cook. Needless to say they have not paid much.

I live at home with my mother and we recently placed my father in a nursing home. So I've had a lot to deal with in the past several months.

Currently I have no job, have bills to pay, including a personal line of credit with a balance at over $14,000; plus I will have over $80,000 in student loans that will go into repayment status starting in December and January.

I bought Dean's book "Profit From Real Estate Right Now" back in April and I still had school to finish, so I didn't have much time to look it over. I then received a call from a representative, and he said that I needed to make a down payment of $599 on a $3,400 loan that I would receive to get the business started. I thought you didn't need to have any money to start this? I don't have a job right now and I'm nearly broke. Is there something that I can do to get out of this hole I'm in?

Just last week I picked up the book and started reading it. It has really caught my interest and curiosity, although I have to say that I'm a little skeptical as well. I just want to get ahead in life and free myself from all this worry and doubt that I feel every day. Could someone please give me some advice based on my situation? Thanks so much.

Take care everyone,

Jason Klose

We just began a career in REI 1 month ago. We are struggling to find buyers. We have tried the real estate clubs, but their fees to join are too high. We feel like we are stuck at a standstill. Can we find buyers in the midwest without the real estate investing clubs? Any ideas?

I recently just got started in this program and decided to make an offer on a home that was listed in our area through a Realtor. The home was appraised at $129,500.00 and several of us made offers that were considered reasonable at 115,000 and up. Apprarently, WELLS FARGO owns the mortagage on the home and they did not accept any offers but decided to let this home go into foreclosure. After speaking with my realtor she told me this is becoming more an more popular for mortgage companies across America to pass up the offers. Has anyone been also running into this problem?

I need some serious help and advice on how to work around this problem? Any suggestions would be greatly appreciated.

Thanks!

Dan H

I finished reading deans book about a week ago and I am excited and motivated to get started. I have filed for bankruptcy and had a foreclosure since 2003. I found a house where I live that is for sale and would like information on how to go about buying it. Heres the deal...It is listed by a realtor, the owners are passed away but the house is in an estate with the surviving adult children living out of state. THe like properties in the neighborhood are selling for over 100K but this house needs some updating and minor repair work to bring its value up. It has 3 bedrooms 1 bath, a full basement, 3-4 window a/c units,a gravity furnace and is for sale for less than 70K. I think with some sweat and a little work it could be worth 100K. should I offer enough over the asking price to pay the realtors commission. What I was thinking was this 2 scenarios. Offer, 74K, nothing down, owners (surviving heirs) carry note for 8% for 5 years with a balloon payment at the end of the 5th year. I could live in the house, make the payments while I fix it up alittle, (I am pretty handy when it comes to upgrading alittle)then sell it for a profit of about 25K in a couple years. OR get an assignment contract, offer 70K, try to find an investor buyer and sell it for 80K at a closing in 30 days. I would like to get an assignment and close in about 30 days, over that time try to find a buyer who would pay the 80K. WHich way sounds better, or am I off on both? please help

does any one think me a 19 years old kid could make it through real estate???

can this book only be bought in United States. I live in Canada. How do I buy it?

hi i am considering buy his books but do not have a credit card. will i need one when using his techniques to acquire real estate?

hello, im just got my program! im in tallahassee, Florida any one doin the program in this area. plz let me know how things are goin in this area.

I recently found my first property i wanted to invest in. I found a house that needs a lil tlc to get it up and running, its from an investment site i bumped into and they want 50,000 which is 39% below fmv. should i attempt to bid lower since it needs a lil rehab. question 2.. I dont have the full amount of money to buy the house with straight cash but i have a couple thousand and decent credit. What actions can i take to get this property if my bid is accepted.
THANKS
syp2215

can someone tell me a simplified version of no money down house flipping and is it legal ive heard its not.

Hi Jason, I really don't have any good advice, but after reading your blog I thought I'd just say hello and keep the faith. If you ever make any headway with this, I would like to know. I haven't even read the books yet. I do know of a good web site that you can learn from. WWW.creonline.com. To me it has a better repository and search function.

How do I get touch with an owner of property if there is no signage?

What about Capitol Gains? I was surprised there was nothing (or not much?) in the book about this serious issue. I wouldn't want to be stuck owing the government money.

and should i open an LLC?

one more thing, today i'm looking at a short sale but i ahve no buyer and it'll probably be a good rental but i feel like a loser not doing it the way everyone else is which is assigning homes! what did i miss?

i can't figure out where to comment so i'll just email you directly? see how well i'm gonna do in this business : )

should i open an LLC? and what about capital gains?

also, i'm considering buying a short sale and renting it out but the hot thing seems to be assigning so i feel like i'm doing something pretty old school...what's your opinion?

I just finished reading the book profit from real estate right now. Where do I begin? I just feel nervous or not sure how to go about it. My inner self keeps asking What if you can't do it? How do you start? I guess I am nervous and not sure where to begin.

hey, we all just beginning and a little nervous.im just starting 2. i have not done a deal yet, but im taking number for connections. i have a great agent willing to help me and i working on a broker. once i have that im start looking for investors, people willing to buy, then im look for the homes. but i think the agent, broker,and the buyers is wat we should start with first!

best of luck to!
karennsam
tanyakristine

let me know how things go!

hello, im lokin into the llc, and it seem like i might have to do a llc in order to get thing goin! so it might be the best idea for ppl who really trying to pick thing up fast.

I am still reading Dean's book, but am anxious to get started. For a person with no experience, do you recommend a lease option to get your feet wet or an assignment? What is the best way to find a killer deal?

I am currently working on chapter 8 in "Profit from real estate right now!" book and looking for a good example or a copy of "Investor Purchase Agreement" (contract) if anyone has.

I checked www.deangraziosi.com/purchaseagreement page but don't see a sample form of Investor Purchase Agreement (Contract).

If anyone has one please kindly share it with me.

hyungtae@****

Thanks.
Brian.

Was wondering the process you take in offering leads that you might like. Everyone that i ask about this situation tell me to see how much money im going to qualify for before i place an offer. Any ideas...?

I don't know where you are but there should not be a fee to be a member other than a few dollars to cover the costs of the monthly meeting.

Legal Zoom has a good package including the registered agent fee. I did this because I am actually starting my investing out of state and would not meet the legal requirement of being available to accept paperwork if needed. Anyway, I talked to them an they were very helpful.

ARE THER ANY INVESTORS IN HOUSTON DOING ANY BUSINESS? IF SO WOULD LIKE A LITTLE ADVICE ON CLOSING DEALS. TITLE COMPANIES OR LAWYERS?

Hello,

I am just new getting started in this business. I recently found a house I liked in our area that was for sale. I called and talked to the Realtor and she told me that WELLS FARGO allowed the home to go into foreclosure. The home was appraised at 129,500 and they had several offers around 115,000, etc. WELLS FARGO did not accept any of them. My question is this, is this becoming more and more common for these banks to just not accept any offers? I thought that it costs more money for a bank to let it go into foreclosure versus taking the best offer and letting it go for that.

The realtor said that this home will now sit for close to 4 months before anything happens to it. How do I try and get a really good deal on it from here? Do they publish this info if it ever goes up for auction or sale again?

Please fill me in on the helpful hints.

thanks,
Dan

The three numbers that you are looking for are: Trans Union-866-887-2673 Equifax-800-685-1111 Experian-888-397-3742

I have a foreclosure question I can't seem to get my arms around. I am looking at a foreclosure with a statement of debt of $241,901. If I attempt to buy the property for let's say $200,000, I can't figure out how this could be. I keep thinking hey doesn't the owner have to see that the lender gets paid? I'm making a deal with an entity that may be about to walk out of a legal contract and I'm going to tell the lender I bought the property for less than they are owed and they will go for that? Is that a valid assesment? Please aadvise?

I have a meeting with a real estate investor later this week and i have a few questions to ask how i go about the meeting. He has some type of seminar where its going to be a lot of different people attending the meeting. From the conversation im assuming his company has many different things to offer in terms of teaching or learning the real estate process. Im going to post under a brief summary of his page and anyone please feel free to post any questions i might need to ask and what i might need to have with me.
Thanks
Sy

I NEED HELP GOING THROUGH THIS DEAL I GOT,FEAR HAS SET IN,THIS DEAL CONSISTS OF FOUR PROPERTIES THREE HOUSES AND A AUTOMECHANIC SHOP FULLY EQUIPPED FOR 150,000 FOR ALL INCLUDED COULD SOMEONE PLEASE HELP ME OUT THANKS, YOURS TRULY... MAYRONE FANNIN

well I found this Ugly little house, I went to the courthouse,to record's to find out who the owner's are! and 10 min-later I walked out with the names and address of the owner's! wow! that was easy. then I wrote a letter and sent it to them. 3 days later I get a call from the owner's-a nice older couple. and I find out they will sell this house! for $ 15,000. cool! so I get the ok to inspect it, I go and do so, the out side of the house needs tlc. and it has a few broken windows, But it is a nice little place on a good size lot. so I go in a see the sheet rock has all been removed! and insulation. A total RE-Hab is what im looking at! every thing is gone, and the Bathroom Has no floor, it needs every thing. from insulation-wireing+old fuse box- and so on. the thing is I can see some profit doing this re-hab! But like a lot of us when we are starting out in REI, on money and no credit! I have done work on Houses before, but How would a guy set this Deal up?
I need some ideas,so dont hold back! bring it on. im new to this investing.
and thanks for your Help.

JayBob

life is good