My Deals

I currently am in the process of finding properties and all that kinda stuff...been talking with a real estate lawyer, talked with an accountant to learn bout taxes, and a real estate agent...Been setting up meetings with all of them to get on the same page and make sure I feel comfortable with everyone, and everything that has been going on...I bought the BARM book in beginning/middle of Dec and read it in 2 days...been doing lots of research on here, and rereading the book...Def trying to keep things moving in the right direction...Of course like anything else, isn't as easy as some people m

We saw a house a few months ago that my husband & I have always liked. We have not looked at it yet. The price is super low. The reason we haven't even looked at it yet is because financially we aren't sure if we can take it on although payments would be super low Tony (husband) is worried about insurance, taxes & all that. He is just itching to do something with it especially since we noticed yesterday the price has gone down. We know the previous owners (acquaintances - we're pretty sure they're the previous anyway. I told Tony tonight that we can at least go look at it.

I am still working on my first deal. The problem i came across wa that the house i am trying to do the double closing on has a few problems. It needs plumbing and a kitchen i was told by the selling agent. My problem is my end buyer is looking to move into the home. I came up with a couple of idea's but am not sure they can work. please chime in with your knowledge. One idea i had was to put in a stipulation that once the deal is closed i would have 30 days to renovate the house . But will the bank approve the loan to the end buyer like that.

I am proud to say that I am working on my VERY FIRST DEAL!!! The owner contacted me before the holidays and is VERY MOTIVATED TO SELL. The property is an inheritance that he had received but is unable to pay the taxes on it. My husband and I are scheduled to meet with the owner to go over the terms of the sell. I am considering assigning this one. The one question that I have is what other searches should I be performing on this property? I don't want to leave out anything being as though I am so excited!!!

I have a question - two actually, which are totally unrelated. The first question is, what is a liquidator, is that the same as a wholesaler?

Hi everyone. I have been gaining knowlege for a few weeks by reading all the awsome info input by everyone from rina,cbpower,sully anita and so on. You people are really fantastic. So here it is.... I found a property in my neighbor hood that an old lady owned. She passed away recently this yr i found out. The property has been listed for 165 days. they are asking 234,000. The houses that are comparable are going for 227,000 - 320,000. It is a 2 bedroom 1 bath house. I was going to offer them 140,000 and then try to do a double closing with a sale price of 180,000 to an investor.

A few weeks ago I got a phone call from a guy looking to rent a house. As I started to talked to him it sounded like he had a good job. I didn't have anything available to rent him at the time but, I never let an opportunity pass me by. I asked him "why don't you buy a house instead of rent?" He said "I just went through a divorce and now the bank will only qualify me to buy a house for $100,000.

Hey DG FAM.
First time posting.I've sent alot of PM's and thanks for all your response.I've been nailing away at learning assignments
my question is:
putting in offers on foreclosures and the bank doesn't except assigning,is that where I can use the double closing strategy.
My title co.is ok with that,I just dont understand how it works.
What if you cant find a buyer,like with assigning can you give yourself an out.

Jason Smith
San Diego

Hi, All.

I originally posted this in the wrong place so I apologize for the duplication...

----------------------

I just found my first piece of property that I will do my research on then find a buyer. Here is my dilemma:

The property is a vacant house, with a "House For Sale" sign in front (no Contact Number). I want to get inside so that I can see what work needs to be done. Finding the owner should not be a problem. However, I want to know the best way to approach the owner without me sounding like I am making some kind of deal yet.
------------------------

Wow, you know you got a good deal locked up when the owner of the property you have locked up under contract offers you $50,000 to tear up your contract and walk away from the deal. That is what happened to me a few days ago. I decided to turn down the $50,000 and keep the property. Oh and I bought the property with no money down, 100% bank financed, and NO EARNEST MONEY DEPOSIT! In fact I walked away from the closing table with a check for over $3000!