FAQ: Answers To The Most Asked Questions - Start Here

FAQ: Answers To The Most Asked Questions - Start Here

This post will contain a constantly evolving list of frequently asked questions and topics for help or information. If you have a question, check here to see if has already been answered, or if there is an existing topic that you can build upon.

This is just a quick skim to get it started, so there is room for a lot more topics and posts to be noted here. If you notice a question or topic that would be helpful to be included, or link that should be added to an existing topic, please post the question/topic and links. Smiling

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Getting Started:
http://www.deangraziosi.com/node/61
http://www.deangraziosi.com/node/1509
http://www.deangraziosi.com/node/2455

Reassignment:
http://www.deangraziosi.com/node/2022
http://www.deangraziosi.com/node/42
http://www.deangraziosi.com/node/1393

LLC/Company:
http://www.deangraziosi.com/node/927
http://www.deangraziosi.com/node/2126

Short Sales:
http://www.deangraziosi.com/node/655

__________________


Short sale

I bought Dean’s book about a month ago and finished reading it. I’m interested in buying a property that is going to be a short sale soon. The listing price is $500,000, but the agent told me I should wait for it goes to Short sale. Also, the agent mentioned the seller is motivated, and that I could make an offer of $300,000 and include closing cost and part of the down payment in the offer. This is a 2 family property with an extra studio (which I will use for myself) located in NJ. I have good credit, no job, and no money for down payment. According to this situation what do you think I should offer to the seller. What are my options?
Thank you.


Public Record Research

PUBLIC RECORDS SESSION

Since man has been seeking refuge from the storm, there has been a need for safe keeping his tools, records, beliefs, and proof of ownership. A cave large enough for a leader and his family or following was always a real find. History records petroglyphs
(painting by cavemen on walls) that gave meaning to the dweller. They recorded a successful hunt, a time of year, or area they were hunting as a record of their success.
Areas of the country blessed with these ancient wall coverings give history a new meaning. The record was sacred and held safe by having them in caves along their travels and day by day existence.

Then man became more advanced in being able to build housing from sticks, stones, and mud. In those cultures there were special structures built for religious meetings, for protection, or special occasions. Record keeping came in the form of tall wood carvings that had the community name and other important historical events. It may even have tribal reference showing ownership. In later years, these were called totum poles.

Towns began building large structures like a bell tower to be used for look out for other armies and warring neighbors. In some cases these towers were really works of art. The more pride in the community the bigger the tower.

As religious movements came into being, there were edifices that gave respect to some deity. In that same period, the need to have safe keeping of records, history, and ownerships continued. Large structures throughout history have been created to make that happen.

Modern day man is no different. We spend a large part of our community income to build City Halls for governing and showing communal pride. County court houses have been as far back as time records. The need to handle legal issues of ownership, law breakers, and holding of malefactors continues today as back then. History records dungeons, round tables, and castles to provide that service. Today County Court Houses are the means to provide the ever important need for information on ownership, place where court of law can be safely held, management of public property, and jail facilities can exist.

We can see from the rich history available that our need today has been similarly held through time. The need to understand the basis for what goes on in the court house is a must for any determined real estate investor. How the records are kept, how they are protected, what laws affect us, and how to determine ownership is knowledge not only important but essential.

Courthouse Not Just a Building

When we speak of the court house we are talking about all that goes on in the structure, not just the building. Court of law has always been the overriding need for such a structure. Then there is the county clerk, county assessor, county recorder, county treasurer, county commission, county sheriff, and county jail filling out the rest of necessary public services.

Purpose of the Assessor Office

The real estate professional has concerns or questions concerning a property like who owns it, who financed it, what liens and judgments may effect it, and what is it, they go to the County Court house. There are 2 offices of the County that have the information we need to do our work. The County Assessor and the County Recorder (some times called registrar, or land title office) are the offices to use. These are generally only open from 8:30 AM to 4:30 PM in most parts of the USA. Most investors are not able to make time working during the day to go to the courthouse to look up records during those hours. This requires that a person find out if his or her county records can be accessed by a home computer. A simple call to the Assessor Office will provide if they are on line and how one can access their information. Sometimes they charge a fee per month to get access. That is tax deductible.

The records that the Assessor has on file are for public review. They have information sheets on every property in their county. That is accessible by knowing the name of the owner, the address of the property, the legal description of the parcel, and parcel number. Any one of these should bring up the information desired. The investor looking for the owner of the property it is possible to do a name search. It will list all the properties that person has in this county. By looking at the address, legal description, or parcel number, it will bring up that property. The information consists of property size, owner of record, the address of the owner, the legal description of the property, the improvements on the property buildings etc, value for tax purposes (assessed value), and sometimes pictures of the property.

The parcel number is of significant importance to the active investor. It accesses the original loan documents that were recorded, who actually owns the property, who financed the purchase either the seller or lender, and if there are judgments or liens against the property for IRS etc. Anytime a family trust or estate is found, there may be a problem buying the property or trying to get them to sell the property. Since there are so many involved in deciding whether or not they want to sell, it might take months to come to sale, if ever. The investor would require that one person be given Power of Attorney to handle the sale of the property with the rest giving consent to that person to act for them. Investors should have NO INVOLVEMENT in properties with IRS liens until there is a certified copy of paid receipt that lien has been cleared.

County Recorder

The County Recorder has records of all types on file to assist in our business. The main item is to record all transfers of property. With the assistance of the Assessor they assign a parcel number for each property, microfilm the actual documents, and then place on computer for public access. The Recorder also has records of people who have sold their home with seller financing (acting as the bank). The files are sometimes called Grantee and Grantor files or Mortgagee –Mortgagor files. These vary from county to county and state to state. What ever they are called in your county, you are looking for a file that lists the buyer and the way he or she bought the property. This has been a way a person might be able to get comparable data on a home that sold recently in the market area the investor works in. A parcel number, address, or legal description would be listed by one of the name so you can determine what property this affects. By checking on the assessor information on this property, it will give the details on the property you are working on.

Another asset of the recorder office is looking for liens and judgments. Sometimes an investor is not sure that the person selling the parcel has an interest in the property or has a legal right to sell. Just go to the property on the assessor record, get the parcel number, check out the recorder information to see if that person is listed as registered owner or not.

Maps are also part of the records kept by the recorder. A valuable part of the record department, the plat map department tracks all transfers of property. They take the legal description of the properties that have sold and plat them on a map called Plat Map. This map will show the size of the property and its measurements. The plat gives location of the property in relation to the streets and hazards (railroad tracks, canals, etc). The plat map has the parcel number on each property listed so you can find the right parcel for your property purchase. Were you to look for the owner of a given property, you would only have to count how many houses or properties it is from the corner of 5th Street and Vine on the South side of the street. Then by counting those same properties back on the plat map you are able as an investor to get the ID number and ownership records from the Assessor. Most maps show the easements and setback requirements which is helpful in planning a building project. It is a good practice to always get a copy of the map for the property in question.

Judgments and structured settlements may also be recorded in this office. IRS Tax Liens , State Income Tax Liens, or judgments for non payments can be found. A quick check with the clerk will help a person find how to access this or any recorder office information. The most important information for the real estate investor would be whether or not he or she might find ownership records on line.

A quick way to determine who the owner is when you see Grantee or Grantor on a document as follows: The person living behind the door is the Grantor. The person collecting the money is the Grantee. This is similar with the Mortgagee-Mortgagor records.

The knowledgeable investor has to realize that the County Assessor and County Recorder offices are much like a spoked wagon wheel. The hub is shared equally by the assessor and recorder. The spokes represent the business, professionals, government agencies, and law officials that need the information kept current on daily basis. You, as a real estate professional, benefit greatly by having a thorough knowledge of where things are and how to access them. A person who knows where records are held in the county court house and how to use them can make real profits in real estate. Take time to ask questions and be alert to others who are working with those files. Many other professionals will be there looking up ownerships etc. These may consist of title companies, insurance, appraisers, and government officials. Their shared knowledge can provide shortcuts to find the information needed.

Example of how the Assessor or Recorder information may help find owner of vacant property:

1. After talking to neighbor, checking with others of similar last name in the phone directory, go to the assessor office to see where they are sending the tax notice. Then see if the owner has other property owned (name search) and write down addresses.

2. The recorder office would be next step to find what documents they have signed over last few years for potential contact information.

3. The clerk may have marriage license information giving data like address, birth date, employment, or id information.

4. Voter records may be on file in the court house. It may have local address information.

5. Check the courthouse records for law suits, garnished wages, etc. Divorce, land lord evictions, or estate-probate records would be available. (see following information)

6. Motor vehicle departments in some area are in the courthouse. By using the vehicle license information you can get an address. Sometimes right of privacy concerns can prohibit this method.

7. Skip tracers and online services would round out methods of finding owners of property.

A number of services provide access to information about county records. These are
useful in trying to determine if a specific county’s records are accessible by the investor on line. These are pay sites which have a membership requirement or fee for accessing data. An investor can go to www.netronline.com and click on public records. Then, pick the state he or she is interested in and click on the county of interest. The service provides phone numbers of the assessor, recorder, or clerk for the individual counties. If the county has online service, one might call the county assessor and see how to access their website. Use of this service on properties out of our area can be an invaluable service. A review of this site can be a welcome surprise.

Property Data Store | Public Records Online | Environmental Issues in Real Estate
Thursday, December 07, 2006

Welcome to the real estate public records and research information portal for property information, deeds & mortgage copies, tax records, parcel maps, assessment records, and public records nationwide. State and County government records may be accessed through our Public Records Online portal, and property information may be obtained through our online Property Data Store.

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Data Quick and Title Company Resources

Another online service that is available in 25 states or more is www.dataquick.com.
Headquartered in San Diego, California, they offer a large array of data from county records they have done work in. An annual fee and service is required but side benefits offset the cost. They have advertised that have sales comps for a nominal fee.

Title companies are another viable source for information about property ownership. Sometimes a small fee might be charged to cover handling charges etc. Real estate lawyers can also be a source for property information if you live some distance from the courthouse. An investor needs these people on their team to help with closings, forms, and other detail information. Let them know you are looking for a long term association and will bring all your business their direction.

Knowledge of who handles tax sales of property in the county can be of particular interest. Do they sell tax deeds or tax lien certificates? How often are the tax sales held? When is the next auction? Where will it be held? Where is the public notice of sale posted? A brief phone call can provide necessary information to do this type business.

This has been a study of one half of the resources for investors involved in buy, fix, and sell of property. The other half has to do with the Court Clerk or Court documents and Sheriff.

County Court or Court Clerk Filings

In another wing of the Court House building there are another set of offices that can help the buy, fix, and sell specialist find deals. The time spent finding the office and making your self acquainted with the staff and records is fundamental to this business. Records held there are people who have filed for divorce, estate and probate, and eviction. These are public records and they list the name and address of the person filing. The clerk has the job of assigning a time when the judge can hear their case. Simply checking with these records on a 3 or 4 time per year basis will give opportunities that other investors are not pursuing. A spiral notebook with section dividers for each type filing will work nicely. Remember to highlight the last name on each name and item so there will be a starting point on the next visit.

Divorce Filings Provide Property

The population of the United States is now over 300,000,000 in population. Life styles and economic conditions have made divorce a thing of day to day living. With the past as a measure, the investor will have a resource that should be invaluable in his or her business, divorce filings. A judge may decide that the parties involved in the divorce may not be able to handle the monthly cost of a home and mortgage on their own. Then the property would be put up for sale. Since both parties are interested in a quick solution, the investor can be that answer. Being able to close quickly, not have a commission expense, and having financing readily available benefits the court, both parties, and the investor. Emphasize that you are not a realtor so the transaction has no commission or delays due to marketing. You are the buyer

Letter Sample Divorce

A simple letter that outlines basic information the divorcee may need is as follows:

Hi, This is ………….. a real estate investor. I realize that life’s situations change and that there may be a need to market or deal with real estate holdings. Should you need to market or sell rentals, single family home, or real estate notes, please have your attorney, mediator, or court contact me. I am able to close quickly and will treat all inquiries in strictest confidence. (This could also be a phone script if the investor were to make contact.)

Another benefit of the divorce process is a thing called divorce liens. Should one party get the house and the departing spouse then would get a lien against the home for their equity. In most cases, the lien is set up as an annual payment by the occupant of the home to the departing spouse. It is set up like a mortgage payment with beginning date and payment amount, interest rate, number of payments and finally last payment date. An article that is self explanatory shows how to find or create one of the liens, how to sell that lien to a note buyer, and why it is a good market for an investor in real estate. Lorelei Stevens of Wall Street Brokers in Washington State wrote an article called “Divorce Liens on the Family Home.” It is found on a website called www.papergame.com. There is also a site at www.wallstreetbrokers.com/homelien.htm. Once an investor has found a divorce lien through his or her research, Lorelei and her business, Wall Street Brokers, will buy that lien. There is another profit source for the investor’s business.

Finding Properties with Probate and Estate Filings

With the same resource of the court clerk an investor can get a list of people who had a loved one die and will have to wait sometimes 2 years to get the estate settled. Since there might be real estate involved in the process, having someone to contact through the period will be helpful. This will keep the investor in mind when the judge determines that the property is to be sold and divided. The probate process as a source of real estate income is good in most markets. In some high population areas, probate and estate attorneys are a good way to get properties in must sell situations.

Finding Properties with Evictions

There are few if any resources that list landlords and their contact information. They by virtue of their business tend to be hard to find. The thought of a tenant showing up on their doorstep at 3:00 AM some morning with a broken faucet in his or her hand is the worry. However, that same landlord may need to sell or trade a rental property to keep his or her depreciation allowance going for his IRS taxes. They may have had the tenant from hell and are ready to do something to sell it. In some cases, they may have other properties they have been thinking of marketing. This is a good opportunity since landlords already have their books set up for monthly payment and could easily carry the seller financing of the home. A double bonus for them is they sell quickly and have the benefit of income without the headache of being the landlord. Additional profit from the sale would be realized from the interest earned.
Sheriff Office for Real Estate Deals

In most markets, the Sheriff has the awesome responsibility to sell foreclosure property at auction. These sales may be tax lien property, tax deed property, or banks foreclosing on property. Most sheriff departments have a bulletin board that show when and where the next sale would be held. If this information were available on line, it would be extremely helpful. When at the courthouse, check to see where the bulletin board is and how the sale is to be held. What money you need to bring to the sale, when you have to pay off the amount of successful bid, and do you have to register to bid at the auction.

When these lists come available for the sale date and time, please see if it is possible to have the emailed or faxed to you. This will give you another day to see the properties and get a plan to purchase in order. There will need to be time to contact an investor or money partner to get funds to bid at the auction. Get a photo and packet of the property ready to speed up the process. The packet would have assessment information, recorder information, map of the area, plat of subdivision with parcel identified, and comparable sales data. These sales are generally well attended and having your information in order can make the difference in making profit on property successfully bid and purchased.

Summary of Data

Starting with the Assessor Office, the investor has access of property size, age, detail, and owners address for a given property. The Recorder Office is the source for ownership details, financing, what liens and judgments affect property, and possibly the original sales price and financing. A quick check with plat map department can help to find the owners of vacant property.

Secondly, we check the Court Clerk or Court files for divorce, eviction, and estate-probate filings. The potential is great for finding parties involved and having their attorney, mediator, or judge contact you. Having an expiration date on all offers made through the court process is a must. Each type filing will bring the owner name and address and a way to contact them.

Thirdly, the Sheriff Office can be a marvelous resource for property at or below market value. Getting on any and all of the resources listed email or fax programs for information on sales is a must.

IS THE COURT HOUSE THEN:
A structure of beauty, a lasting storage receptacle, a one stop shop for real estate deals, or a place that gives dignity to the community? Or is it the receptacle of knowledge, the harbor of safety, the seat of Law, or Jail. The County Courthouse is the most amazing place. Find out what lies in store for you the intrepid buy, fix, and sell specialist.

Action Assignments:

1. Call your County Assessor to see if their records are on line.

2. Check out website www.netronline.com as way to access county information outside your area or to find out if the county records are online. When you get to the screen click on public records and a map of the USA will appear. Click on your State and it will start listing the individual counties in the state. Click on your county and you are on your way. Please note that this site charges for information you are wanting to print out. Use it to determine if the county is online and phone number to call for information.

3. Get acquainted with the Court Clerk and how to use those records. Plan 3-4 times per year to update your information.

4. Check with the Recorder Office to see how to find the Grantee-Grantor or Mortgagee – Mortgagor files.

5. Get name of a contact person at the Assessor Office, Recorder Office, or Court Clerk that when you have questions you will have good help.

PUBLIC RECORDS

“A county is an area of land which has its own local government. The number of counties ranges from two as in Delaware, to 254, as in Texas. In Louisiana a county is called a parish. The purpose of the County is to carry out the state laws and help the state govern the area within its borders. The county also looks after its own schools, highways, and health and welfare activities. England and North Ireland do not have states. Their counties are similar to our states. And they have much the same powers that our states have.” Illustrated World Encyclopedia Bobley Publishing Corp., Woodbury, New York

Submitted by Marvin C. Hogge December 11, 2006

TABLE OF CONTENTS

• History of Record Keeping Places
• Court House Not Just a Building
• Purpose of County Assessor
• County Recorder as Source
• Plat Map Files-Location and Ownership
• Example of Use of Assessor-Recorder Files
• Netronline- online service
• County Court or Clerk Filings
• Divorce Filings Provide Deals
• Sample Divorce Contact Letter
• Divorce Liens as Profit Center
• Finding Properties with Probate and Estate Filings
• Finding Property with Landlord Evictions
• Sheriff Office as Source for Property
• Summary of Data
• Action Page

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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125


house transfered for $1.00?

I have recently researched a property and found out that the house was transferred to the current owner for $1.00 in 1979. The house is vacant and 2 quarters behind on taxes. The owner lives in another state.

How can a property be transferred for $1.00? What does that mean for me?

__________________

Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10

http://realwholesaling.com FREE wholesaling tips and resources!

To your success,
Carol Stinson


taxes

I bought a forclosure for about half what it is assesed for. I paid for it with my HELOC. Would it be wise to ask the county to reasses the property at the purchased price before I refinance it?


Almost buying

Hey yall, I was about ready to by this great book to be a success financially. But when I called the number, I didn't even get a live person to talk to.

It just doesn't seem right to hand over $40 to a recording. It would be great to talk to a real person. That would bring more legitmacy to a lay person like me to the table.

After all, how can I celebrate making thousands or hundreds of thousands of dollars all based on my first experience with a recording? It just doesn't sound right.

Met Dema
Chicagoland, Illinois


Where are the answers to

Where are the answers to these questions?

Met Dema


Getting an investor

Hey Folks! My name is Mike and I just joined DG.com. Its looking better and better my real estate future is. I wanted to ask a simple ?... Where can I find an investor? Any tips? Im sure you guys have plenty of insight. Im focusing in on creating a situation where I put together a seller with a buyer on a pre/foreclosure and I get a "finders fee" from the buyer/investor. I think thats the best strategy for me at this point in my development. Be cool with th enovice huh? Thanks DG fans and folks... I hope you got something I can chew on


answer: mdema

you know, i feel what your saying on that one, thats kinda wierd though because when i called to purchase my book it gave me an option to speak with someone, but then again, i bought my book back on 01/15/08 (long time ago). Did you listen to ALL of your options? Puzzled

__________________

YOUR HERO, SULLY


homeless in a hotel

I just relocated because of a new job and I am living in a hotel suite with everything I own in storage. My question is:

Is it realistic to think I can find a house on a lease option (since I have little money and my credit in in recovery mode) and be able to move in in a week or two? Can a lease option be processed in days?

__________________

Sue Sours


Hi Sue.

Sue Sours wrote:
I just relocated because of a new job and I am living in a hotel suite with everything I own in storage. My question is:

Is it realistic to think I can find a house on a lease option (since I have little money and my credit in in recovery mode) and be able to move in in a week or two? Can a lease option be processed in days?

Just a suggestion, but you could start by looking in the paper or on craigslist for rent to own or for sale/lease options in both the "for rent" and "for sale" sections. Call the numbers and just ask what they are willing to do. That way if you need a place immediately you can start out by renting, but it might get you the opportunity to buy and the time to work out a deal with the owner. Also check out the FSBOs and try to work out something creative with a seller.
I wish you well in finding a place and on your REI future.
The DG family is a great place to find support. Smiling

God bless,

Rina

P.S. Keep us posted.

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


P.P.S.

The great thing about a lease option is that you DON'T have to wait on getting financing. You just sign the lease and option to purchase with the seller and you're in, with plenty of time to find financing and make a decision.

Rina

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


credit

just Google the question you just typed or Google - Experian, Equifax® and TransUnion

Google will get you anything you need

__________________

Sue Sours


more about Ed

I clicked on your name to get your profile info but nothing came up - it would help to know what area of the country you are in...

__________________

Sue Sours


HOW TO market or develop

Anyone in the Wisconsin area to help with this or anyone with a creative approach is welcome to send me feedback:

We (my mother who is 84, my brother and I) have about 15 acres in Northern Wisconsin - wooded area, surrounded by national forests and reservation land, 400 feet of river frontage and subdivided into lots of 1 acre+ each. There is a very unique home, two wooden sheds and lots of stonework done by hand. I believe the area is poised for growth, but I don't know the best way to maximize our return. We don't have the money to build houses on each lot and sell them individually...

Any suggestions?

__________________

Sue Sours


Sue, check with RE Agent

Because of the current RE market, there are a lot of property owners who are having trouble selling and are offering lease options. In my area there a quite a few in the MLS system.

Al

__________________

"NOW GO FIND A DEAL"

Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.

Frank Outlaw


Just starting- any smarts help

I am hoping I can use this property for my first lock up deal. The house was in my late grandmothers name. 65,000 is the neighborhood asking price and there is a 30,000 loan out on the property. I have listed some of the rehab work(maybe 10,000) but am stuck. Also this is a story and a half. If I start contacting investors who may want to buy this house, wouldn't they want to try and pull this out from underneath me or go over my head,contact bank,etc. Am I barking up the wrong tree? Should I just find a new ugly house in a greater neighborhood and work the program this way? I know I have to act fast we are about 9 months past due on payments but taxes are up to date.

star


Is aim4direct.com affiliated

Is aim4direct.com affiliated with Dean Graziosi leadership assistance team or is this a part of the competition?

I was approached about possibly getting involved with them?

Please once again respond as soon as possible.

Thanks in advance!!!

__________________

God Is Good All The Time!!!
Maurice


Maurice,

I do not believe that program is affiliated with Dean Graziosi.

PMI - Professional Marketing International, is the coaching program that is affiliated with Dean (Dean's Success Academy).

Rina

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


title compam\ny

Hi I am a nubee . Concerning Wholesaling , how do I find the title company i must give both contracts to ? and secondly , the first contract is between the sellor and me , so what is the second contract??


New Guy

Hi, I am just staring, I would like some info on how to get financing to purchase my first home. I currently don't own my own house and really don't have a lot of money. I am currently employed. I just need so advise on how to get money to purchase my first home, weather it be foreclosed, REO or by owner. Thank You


New Guy

I am new here as well. I am still learning along with you.

I just wanted to share with you my plan on getting the money I need for my first investment.

1. Assignments- I have built relationships with several investors in my area that are currently waiting on me to find them properties. If I can find properties at well below market price I will assign these properties to an investor for a nice profit.

2. Finder's fees- If I find a house and it's not quite priced right for me to get an assignment fee I will give it to the investor for a finder's fee. Finder's fees can range from $1,000.00 - $3,000.00.

I have no money to invest and these are ways that I can begin to build capital with no money up front.

Again I am new so these are just suggestions that I learned from Dean's book and am putting into action in my own RI journey.

Good luck!

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Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10

http://realwholesaling.com FREE wholesaling tips and resources!

To your success,
Carol Stinson


My question is this. My

My question is this. My money is tight and my credit score is in the low 600's (I'm working on improving that). I have a recent foreclosure on my credit and I'm told I'll have to wait 3 years before I can purchase again. I was told that a lease-option would work in my case, but how?


Darlene

Are you looking for a lease purchase for yourself or to make money on? Please clarify so we can help you.
God bless,

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Cool Elena Cool
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."


selfmadewon.....

finding a TITLE COMPANY is as easy as looking in the phone book under "REAL ESTATE"(thats what i did)

As for your 2nd contract: your 2nd contract is between YOU and your "END BUYER"(investor) and then you would want to do a "double closing"

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YOUR HERO, SULLY


Right Sully...

The first contract you will open escrow with at the title company. Make sure to ask them if they do double closings, if you know any investors ask them who they use for their deals. Then when you assign the property to an end buyer you will submit contract number two, the assignment agreement. That's it in a nutshell. Hope this clarifies it for you. Good luck and God bless!

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Cool Elena Cool
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."


New to the Program

My name is Mike Daff, and I recently purchased Dean's book, along with the "Dean's List".

I am currently on page 23, and taking notes all the way. I work full-time and also have a BEAUTIFUL wife (Beth) and two WONDERFUL little boys (Taylor, 5 yrs. and Reese, 2 yrs).

I hardly ever get any time to see my family due to my dead-end job (Mall Security Guard) and I make less than $600 every two weeks; therefore, you can understand how tight things are between paychecks. Tonight, as I type this, we have less than $10 - and we only have that because my Mom gave it to us! My wife's car recently "died" and now she has no car to drive and we cannot get a loan from any bank. She has a full-time job and Taylor has Kindergarten to attend, and we have no way of getting either her or Taylor to either one.

I say all of this so you will understand, at least in part, when I say I need to learn and implement Dean's system ASAP! Of course, I have NO money to "put down" on any property right now. I NEED to start out with a "no money of your own up-front" type of deal. I am praying that there are some full-proof ways to get started with no money, that I will learn in this book.

If anyone can/will give me some extra assistance to get started even sooner, I'd LOVE to hear from you! Please just Email me at: [email protected]

Thank you for taking the time to read this, and I appreciate any assistance any of you can/will provide. Smiling


uuuummm, mike?

i believe i wrote a pretty nice passage(post) on how to aquire RE with NO MONEY DOWN, hey Rina, or E, somebody? can you tell me how you guys direct someone to a archived post?

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YOUR HERO, SULLY


Sully & MIke

Sully,
This may or may not be the post you are lookikng for, but here is a link to one of your posts in which you answer a similar question from Nina.

http://www.deangraziosi.com/node/1509

This was taken right from the top of the page under "Getting Started". There are a couple of other links there under the same topic, Mike might want to check those out too.
Also on the home page, under 'Main Selections' click on 'Forums' and then scroll down to a forum called, 'Everything Else'. Then look for a topic called, 'Wholesaling Basics 101'. That is a great one to read. Plus there is another one on 'Bird Doging', somewhere on this website, another must-read if you are just starting out and have no money or credit.

I hope this helps.
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Michael B


hey

I am also new 2 this.. And i was Wondring if u got any feedback from the question above you asked?

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CHRIS


Hey People,

I am new to this and was wondering what a guy at 20 should do if he is really trying to give my all at this. Im currently in school so I have plenty of time to give to real estate. If any one can please give me some input and adivce at my first steps to success. Thank you have a blessed day...

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CHRIS