Contracts and Offers

Recently I have received a lot of calls regarding earnest money and how to protect yourself against losing it.
Remember the purpose of submitting earnest money is to show intent, basically showing your interested in the property. Here are a couple of pointers on earnest money.
1-Make the check for earnest money out to “Escrow”
2-Make a copy of that check
3-Submit the copy of the check, not the actual check with your offers.
4-Negotiate the amount, and the time that the earnest money comes due.
5-Make sure you have your exit strategies.
All of those should take the fear out of submitting earnest money. Don’t worry about losing your money, take precautions to ensure you don’t lose it. And don’t forget that everything is negotiable until the offer becomes a contract.

When performing an act of submission for the 25-1 system, is it best to have the terms of the offer written so as to have as little earnest money on the table as possible? I'm being told by my Agent that making a point of having a declared earnest money offering of 10$ will cause most, if not all of my offers, to be dismissed. I'm wondering if diminished earnest money offers are included as part of the cause of 24 offers being denied? I can't afford to lose the 1000$, or whatever it might be, at this stage if the inspection period is prolonged and the deal does not go through with any of my buyers.

Ok so I gave my book to my mother to start reading, and I don't have the formula with me Sad I have a property that was sent to me by my real estate agent:

3bedroom/2bath
2215sq
on market for 75 days

The original Listing Price = $70K
Listing Price = $61,800

i know i need to take out 10% for profit, but what about the fixing costs? how much should i avg in for this? not sure where to go from here. i have searched for the formula here on the DG site, but having a hard time locating it. I've gone through all my bookmarks, and still no luck. Can anyone help?

Thank you,

Rolo

Ok so I gave my book to my mother to start reading, and I don't have the formula with me I have a property that was sent to me by my real estate agent:

3bedroom/2bath
2215sq
on market for 75 days

The original Listing Price = $70K
Listing Price = $61,800

i know i need to take out 10% for profit, but what about the fixing costs? how much should i avg in for this? not sure where to go from here. i have searched for the formula here on the DG site, but having a hard time locating it. I've gone through all my bookmarks, and still no luck. Can anyone help?

Thank you,

Rolo

I called my title company and they said they do back to back closing as long as the first one is funded first. Is this how most do this, or will this not work for me for back to back closing. Thanks!

Okay here is the scenario: I have a house that I want to sell for 100,000. Buyer gives me 10,000 down and I write a mortgage note for the remaining balance of 90,000. Okay this mortgage note I don't quite understand? and after this I sell the note to a bank at a 96 percent discount, for $86,400. So I have a profit of $26,400 on the note and $10,000 that I received as the downpayment for a total profit of $36,400. Is this scenario doable in the real world of investing? I mean do banks buy notes from new investors everyday?

Hello everyone! I am doing the 25 to 1 method. But, do to limited funds, I'm doing more like 3 to 1 on the mls with an agent who don't mind trying it. I make 3 copies of the one escrow money order and email them with the 3 offers. Now, I followed the steps in the success academy lessons. They're 2 properties have been in the market for more than 120 days, one, only 98 days- dom. 2 have one reduction and I believe one had 2 reductions. Two of the propeties is still occupied, and one is vacant.
I found out 2 offers are rejected. Im still waiting on one more. What I did is that I offered 35% off the ARV. Am I missing something? Here is the response to my offers from my email. Bill is the agent I am working with.

Hi Bill,

http://nationalreihomes.com/real-estate-news-blog.html

I guess it's a sign of the times that a lot of county tax assessors now have "fair market values" listed on their websites. The real estate agent I work with told me that they are seldom accurate and almost always on the high side. Is she right? Should I steer clear of them when attempting to determine a realistic FMV?

http://nationalreihomes.com/real-estate-news-blog.html