Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

Well, today marks another milestone in our short RE investing venture! Nearly 1 year ago we closed on a condo deal netting a little over $24,000. Today, we close on the flip of a 4br2.5ba netting nearly $31k that we held for a total of 96 days from beginning to end!

For the condo that we closed on last year, we took on every aspect. For the house today, we have found a trustworthy partner that finds, rehabs, and lists the property for us. We have simply written the checks and signed docs!

I'm grateful to Dean for the inspiration to get started! Life is different for us today as a result. Our family has recently moved into a foreclosure that was in excellent shape and we paid $160k less than it sold for 4 years ago!

Thanks Dean!

Hi guys,

I am new here and I want to do assignments but not sure book to purchase that will lead me in the right direction. Could someone please tell me what book helps you to get started doing assignments?

i found a cash buyer in my area an hes willing to working with me on a begginers level.

He told me hes looking for abandoned houses and i found one the I personally love but willing to pass on to him .
I have the address, maybe an owner
(first star LLC ) has anyone heard of that before???
so anyway .... im stuck! someone suggested the phone book ,but that wasnt much help ... im thinking maybe the courthouse might have some info, but any advice on getting more information on propetys like this would help . !
thanks !

This is a 2bed/1bath/1car block home that had a complete rehab; including kitchen, appliances; bathroom; lighting & plumbing fixtures; 1202 sq. ft. living area under central air; Additional room can be used as Den/Family or Bedroom.
Purchase Price is $ 39,000 ... Local REA say it should be listed in the high 40's or low 50's. Rental would bring $ 600/month. Bird Dog Fee - $ 1500 .... PM me to discuss it or for pics. Thanks, Gary

Ok. This applies to wholesaling a house, not a fix & flip.

Just about every video on Youtube and all the emails and advice I've gotten from others don't say anything about including 12% holding costs (realtor commission, etc.) when analyzing your deal and presenting it to your buyers. Now, we're hearing that we should. If we do, it seems like that would drag down the numbers further, making how good the deal seems to be even worse. I mean 12% is quite a it.

Now, how do you figure that 12% in your deal? Do you multiply 12% by the arv, the amount after repairs are taken out, or ? Thank you for your help with this.

Got my First Bird-Dog Buyer Hes wanting me to Find Commercial Office Buildings & Single Family Homes In Texas for 30% to 60% Off FMV .

I Told him I'm doing FSBO's Cause it maybe Easier , & That I can Try to do 16 Deal's Per week For $1500.00 Per Deal Which is About $24,000 within A Week & with that Money I'm saving All The Dollars I Get & Moving to California .

Cause I was going to Move to CA this Monday But I realized it would be A Stupid Mistake given that I Don't have the money to pay for rent ,Food , College fees , & Taxi cab's ......LOL & Taxi's are about $52.00 just For A Ride across the town so Transportation Alone would have ran me into the red before even getting to to CA good .

Well, my instinct a couple of weeks ago was right...I have been used to "shop" an REO by a realtor who initially I though was going to be my "Ace in the Hole". I found out earlier today that I was used to drive the price up, or to "shop" the property. I have been involved 2x in this type of scenario and both involved my now "ex" Realtor.

I have been shopping for another one anyway because I had an odd feeling when there were no declination letters from the bank regarding around 18+ offers...all turned in by this one agent, who was "bought in" to my model and what I wanted to do. He was really going to help and he was really going to be "my guy".

As a result...I have changed my interviewing of my "team realtor" to include the following:

Since some complained that My finders Fee was too Much for A bird-Dog w/"Assignment Clause" I'm Lowing my Price down to $1500.00 per Deal I'm not sure why? since I'm doing A Advance way of Bird-Dogging w/"Assignment Clause" I should be getting more but Some people On DG.COM claim My fee was too much& so I'm only charging $1500.00 Per Deal .

If you are wanting A Few Deals Please PM Me Your Info of what your Wanting , Prices , States , & A E-mail were I can Reach you .

I do Make all Clients Sign Agreements & Finders Fee Agreement Before Any business Takes Place .

thank you ,

Okay, I'm in Texas, can I buy a house from a homeowner Subject to, the existing loan, by the homeowner signing over the titlt/deed to me while I pay there monthly payments, while I look for a buyer and then sell it to make my profit, is it illegal in texas to that ?

We never done any business in Canada, but we found a motivated seller of a Triplex in Saskatchewan, Canada. If anyone out there is interested, please send us a message. Owner seems very motivated as they posted their information through our website.