Ask Dean's Coaches a Question

I am coming across many property listing from my realtors.
But when I try to determine the ARV, I could not get enough Solds in the 3 to 6 months, or properties are not similar types or the properties are built many years apart.

All the properties are in good neighborhood, good school, less crime etc.

The advice I get from others is if no COMPS , move on to next property.

My question is what is an alternate to find COMPS. should I always move on if I do not get COMPS.
Will the appraisal the Bank uses to appraise property good to determine the ARV.

Please help.

Regards,
Bimal

I'm new to Real Estate Investing and have no money to spend and need to deal with Wholesaling properties.

I've spent over $11K on education and have read Dean's book "30 days to Real Estate Cash" and watched the videos on the 25-1 filter system to use with RE Agents. I now have a handfull of cash buyers and I have an investor friendly RE Agent. I'm trying the 25-1 method that Matt Larson says to use. However, the listings my agent is sending me are all REOs and Auctions.

From what I understand, Banks don't like assignable contracts. Why isn't this mentioned in the 25-1 process? Is "No REOs or Auctions" another filter I need the agent to filter with the MLS? Or is it possible to work with Banks on REOs - if so, how do I lock these up for my cash buyers with an assignable contract?

Also, if I do a double-close, isn't there some waiting period before you can sell it again and a percentage limitation you can make when you sell it right after buying it?

Need an answer fast.
Thanks,
John

Need help. VA's law requires all realtors to sign a Buyer Broker Agreement before helping a person locate a property or give any information out on a property. The normal length of the agreements have been 6 mos. How will this affect my strategy to get the property under contract and assign it to an investor w/out using any of my own money? If you have to go through an agent then they will require EMD before submitting the offer for the property for you.

Any suggestions.

I purchased a SF 2/1 property three weeks ago for $12k cash. The City wants to purchase the parcel for $22k cash and knock down house. (they've been buying the block) I think i could rehab the house for roughly $8k and rent it out for $850 a month. How do you determine if you should sell or hold and rent?

Hello to anyone that can help me .
I am looking to find the Offer Template, does anyone know if I have to have Excel to operate the template

Thank you, Sheryl Budarick

I saw an empty property with no signs. I looked it up and saw there are back taxes on this home. Question? Can I assume the mortgage if I pay the back taxes? If yes how? Also, does Dean still have the real estate school where you can learn from hands-on in the field.

Thank you

Annette

I have a different question for you. My boyfriend owns a house that he is under water on big time. He rents it out to his daughter and son n law for less than the morgtage payment and insurance combined. He is thinking about just letting it go back to the bank because he cant afford to pay for it any more and his daughter would rather move than pay him more each month. So I am thinking that he could put his daughter and son on the mortgage with him and after a year or so quite claim it to her name. would the insurance be cheaper for them because they live there? And is this even possiable? they have really bad credit but good jobs. Do they have to go through the whole process just as if they were buying the house? If the bank runs the numbers they will see that he is upside down would that change anything if they dont get approved? I know a lot of questions but I hope you can help with some of them.

I have a different question for you. My boyfriend owns a house that he is under water on big time. He rents it out to his daughter and son n law for less than the morgtage payment and insurance combined. He is thinking about just letting it go back to the bank because he cant afford to pay for it any more and his daughter would rather move than pay him more each month. So I am thinking that he could put his daughter and son on the mortgage with him and after a year or so quite claim it to her name. would the insurance be cheaper for them because they live there? And is this even possiable? they have really bad credit but good jobs. Do they have to go through the whole process just as if they were buying the house? If the bank runs the numbers they will see that he is upside down would that change anything if they dont get approved? I know a lot of questions but I hope you can help with some of them.

bump

Going in my bookmarks

Hi, My question is, when I try to work with real estate agents, I keep getting grilled in depth about the contracts and they seem allergic to deal assignment, how are you explaining the benefits of the process for real estate agents to them? They don't like the fact that I am a middle man, I do not want to be dishonest, I don't know how to explain the process to them in the right way. Can you help?
Thanks,
Lyca

Is there a formula for analyzing a lease option deal? What is the best way to present it to a seller? Also, what is the best practice for presenting the deal to my buyer who may rent or buy? I appreciate your help.

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