Everything Else

Do not fear this current government shutdown. If it is short, keep wholesaling and working and you will continue to make money. If the shutdown becomes longer, only more opportunity will arise.

Does everyone remember a year or two back when
Dean was saying put aside the news for a couple of weeks? I am a news junkie. However, I have decided that it is again time for me to step away from the news for a couple of weeks (or more). We cannot control the things being done in Washington. We can control what we do.

Find buyers, find properties, make offers and assign deals. These are the things we can control. Keep a positive head and you will do well.

How to get deals @ 60% ARV First Draft
1. Get a real estate agent who is willing to submit 3-5 offers a day 5 days a week!
2. Give them your property criteria and tell them to get a list of all the properties that not only match that criteria, but are also REO’s that have been on the market for >60 days or that have had price reductions.
3. From that list have them pick the 10 that look the most motivated (willing to negotiate, submit all offers, seller motivated, needs rehab/TLC, price just reduced, etc)
4. Have agent start with top one and get all comps that sold within 90 days within 500ft^2 of the same size, within ¼ mile away.
5. Have them do a CMA Comparative Market Analysis of the property to determine ARV After Repair Value.

Each day I continue to recieve requests for help in this area. If you are new and needing a little direction then read and email me and I will get you this info.

What I would like to talk to you about today is building a buyer's list. Our buyer's list is the foundation of our wholesaling business. If we think of other businesses, our buyer's list is our customer list. If we are to grow and thrive we must have a strong buyer's list.

Understand that there are dozens and dozens of ways to build a buyer's list. The key is finding something that works and then doing it over and over again.

Let's talk about some proven methods that work in many areas. These are things you can do today to get your phone ringing.

Hi Everyone,
I am reading Dean's 30 Days book and I am wondering if there is a check list anywhere on this site. I am a bit overwhelmed which is keeping me from taking action. I am totally a check list person so this would help me a great deal.
If not, I guess I will make one. Just trying to save some time and energy.

Best,
Sonya

As we look at numerous homes in various areas there are a lot of things that you want to look for when you're looking at the roof of each of your homes.
Check around openings and watch for localized sag in roof surfaces or ceilings around dormers, skylights and other openings. This is easiest to see from a distance. You can usually spot this from the ground.
When in the attic area, check for evidence of leakage and rot in the framing members immediately below the openings. Flashing leaks are common routine problems.

I get many people who ask me, what are the most vulnerable areas for rot or insect damage?
Wood roof framing members are vulnerable to rot and insect damage.

Look for mold that may indicate rot. Look for darkening of both framing members and sheathing. Check around my flashed openings including plumbing stacks, roof vents, chimneys, etc. for evidence of leakage.

Leakage will cause rot and make this area more susceptible to insect attack. Check around the perimeter of the roof. Gutter and downspout back up, ice dam problems and water collecting from leaks above; make these areas susceptible to damage.

As one of the Official Coaches in the program I am able to be in contact with many of you on a regular basis. It is really a great experience to work with the students in the DG Family.

I want to ask a question. Other that the traditional way of going to a real estate agent, how do you find good deals? What do you do that helps you find good properties to wholesale?

Your contribution means something to someone.

Settled steps may be dangerous because of the tread slope and lack of uniformity that result. They may also indicate movement of the entire structure. Repairs to steps that do not have a proper foundation or are not properly supported by the building, are expensive. This is especially true of concrete or masonry steps.
The trip hazard that is created is the first implication of settled or heaved steps. An expensive repair is the result. In severe cases, structural problems can develop.
Pay attention to the step uniformity and slope of the treads, both side to side and front to back as you walk up the steps. Pay attention to the slope of the landing. Make sure you have a qualified contractor that understands the rise of the stairs do the repairs, so it is done correctly.

Rot is a common problem on wood doors and windows.
It’s easy to miss rotted wood, especially if it’s been painted recently. While it’s not a great long-term approach, many people simply paint over rotted, deteriorated wood. It can look pretty good at first glance.
Damaged wood should be repaired or replaced as needed.

HAPPY REHABBING!!!

Now that the weather is turning cold & wet, it is very important to evaluate and inspect your properties very carefully; looking for areas that water may sit and penetrate the exterior of the home.
Look carefully at horizontal joints, especially those above windows and doors where water may sit. Many windows have improperly sloped cap flashings often called drip caps. Water may sit on the top of this cap flashing above a window and, if there is any flawed joint, or if the details at either end of the flashing are poorly executed, leakage can occur.
Windowsills should have a good slope down away from the window and should project at least one inch beyond the siding. A good bead of caulk should be applied to new windows to prevent any moisture into the home.

HAPPY REHABBING!!!