OfflineHello, I am new to the process of REO's. I am hoping for some advice on what steps to take and possibly a mentor to help me with my first few deals. I have Deans books and have read them but still need the guidance so I can learn the steps to take, the proper forms to use and what to say to the lenders and/or banks. I am also interested in assingment deals and how that process works from start to finish. I have read some of the other posts about assingments and they are all a BIG help in my understanding of this. I still have other questions though. Can anyone please help direct me down the right path. Many thanks in advance from Tacoma, Wa...
Joey
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Joey Shear
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Moving forward and growing stronger
Hi there
I'm Jordan and I'm up in Everett Wa..
The first step in the Assignment process is Building your buyers list. WHY?? If you find a great deal but have no one to buy it (assuming you cant buy it yourself) then you've wasted your time. There are a number of countless ways to build your buyers list. Read Dean's "Profit from Real Estate Right Now" and there are several posts here on the website that offer basic and unique ideas on how to build your list.
Focus on the buyers list first and foremost and you will have a solid foundation and network moving forward
Best of Luck
Jordan
"You gain strength, courage, and confidence by every experience in which you stop and look fear in the face. Do the things you think you cannot do. Tough times never last, but tough people do"
hey all
Fred here from Kelso Wa
I have lots of RE experience but NO resourses
perhaps we could work together some how
as per the assignment deals, Jordan, is right on looking for possible investors to assign to is good too
this could be someone you have on your buyers list
Call on all the bandit signs you see and by all means find a investor group
Later Fred E So Wa in Kelso
PS feel free to PM me if you want my E mail or number
This is Spokane checking in, and the buyers list is a great first step just like assembling your team. I started calling bandit signs and am adding them to my buyers list. I'm just starting out and I try to read when I can and absorb. Then try to break out and apply what I've learned, which is also the hardest part for me so if you're struggling; you are not alone. Read the posts here and the blogs, get your business cards done too. Print them out yourself or get them done through Vista Print. Maybe you can find cheaper? Anyhow welcome aboard and start your journal. Have Fun!
Bill G.
Never Give Up, Never Surrender!
Thank you very much Jordan, Fred and Bill for your responses. I greatly appreciate it. I have read Deans books "Be a Real Estate Millionaire" and "Profit From Real Estate Right Now". I will be go through the books again to refresh what I might have forgotten.
My interest in REO's are so I can ultimately purhcase, rehab and then rent out for a profit. Any help on this topic would be a great help also. I just need to know where to begin. I know absolutely nothing about Real Estate but it has been an exciting ride so far.
Fred I will PM you and maybe could chat, exchange info and ideas to help each other throughout this process.
Thanks again for all your help.
Joey
Joey Shear
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Moving forward and growing stronger
I am not working a real job so perhaps we could meet some time and share ideas
I looked at a hiome today that I can get for around 60K needs work but the ARV is around 100K probably 10K work is needed
Do you have any working capital or access for fast cash
more later Fred E
guess you guys are so busy that you cant post here right now
hey guys where are you
Are you too busy making deals
whats up