My Deals

Hi everyone, I've read quite a few threads and I know how amazing some of you are at giving advice and helping people out. So this is going to be my first real estate deal. I hope some of you will read my situation and post some advice and feedback in response.

Hi everyone Mississippi Girl here, I am new to the family, I am almost done reading Deans book but I also realized that I would need some step-by step instructions and thank god I found you guys, you guys Rock! To get to my question, I have a young lady who is in pre-foreclosure with 4 properties going into foreclosure in about 2 weeks, she is upside down in all properties. I don't have any money to invest, so I am thinking this deal is going to have to be a short sale, but time is running out for her. What can I offer this lady if anything at this point?

I recently bought Deans book and read it cover to cover. I decided to try and gather a buyers list first by posting free classified adds. Within 24 hours I got my first call. Now I don't know where to go with it... The caller has a credit score in the 500's and wants to relocate. He also has a home for sale. The home is located 3 states from me and is valued @ 97,000. He is willing to let it go for 42,000. Using Deans no money down and no credit program I would like to help this man and be able to make money on it.

Hello,

This is my deal, getting into contract tomorrow afternoon will be marketing it 5 min. after.

Nice little 2 Bdr out in the country on about 1/4 acre.
ARV fixed up 42-45k, the were asking 19,500 I offered 16,500 and it was accepted. I'm getting into the contract with $10 Earnest money. Will be looking for someone to assign this to.

This will be my first deal ever and i'm so excited and scared at the same time. Worried about not being able to move it and defaulting on contract.

Steve

Hi its been a while but I have been trying to get it going for myself. I have a deal that has a lot of equity (130k+) no fix up move in ready. Here is the problem. I want to lock the deal up but b/c of previous problems the owner wants me to put money down 5k non refundable. He has the propery listed FSBO with little exposure. Here's what I plan to do and please help me with your advice.

A few days ago I got a call from a kid I mentored about 4 months ago. I gave him 4 days of personal one on one intense training. This kid is 23 years old and lives in southern california. He makes $20,400 dollars a year at his job as a full time youth pastor. When he called me a few days ago he was excited because he had just flipped a house for a net profit of $36,500! That is almost double what it takes him a year to make at his job!

Hi everybody!

Thought I would put this in front of you all very quick:

If you are interested in rehabbing/investing in Columbus, OH - here is your BIG chance:

FREE duplex (yes, REALLY!) - you only need to be able to rehab it! Here's the skinny:

+ You need to be able to come to the closing with about $13,700 (rounded, I have the exact amount... it's a little bit less).

+ You need to be able to pay for closing

+ You have to rehab this property (only one side needs rehab) w/in 90 days or less!!!

+ The cost for the rehab are estimated at $10-$12K.

Hello all, would you plese help me find motivated sellers and I will help you find motivated buyers.

Jerry

Today, I received an email from one of my RE agents telling me of a builder, whose bank had went "belly up" due to the "bank crisis" So, he needs to sell off his properties to an end-buyer and she invited me to take part in the "sell-off." I hope there is much profit to be made as it appears.... I recently sent her an email to get back with me on the details.... This may be the "BIG DADDY of them ALL!!"

So, here is a portion the email I just received....

".....I have a client that is a builder. His properties were financed by the Bank of XXXXXX which was seized.

I'm considering my first deal. It is a condo priced at $12k. Other 3 condos are also priced in the range of $15k. (different owners). Looks like most are bank owned.

I looked at the county website and the 2008 tax value shows $150k.

Questions:
1. Its too good to be true..what are the possible problems that can come with the property, other than needing some repairs?

2. If I pay $12k and purchase it, and try to refinance will the bank give me 12k? or 150k?

Please help !!