OfflineHaven't even read the book yet, but just discovered the house next door to us is being auctioned in 2 weeks. We're wondering if there is any way for a possible deal here... but we have no money or credit. Obviously we can't make an offer, since the bank will soon discover we aren't able to purchase. Is there opportunity for a bird dog fee here? Or what would our options be? First step? Or are we just not prepared enough, and should let this pass by? We are in Southern California (San Bernardino County), and it's a nice 2-story/ 1500+ sf house on an acre+, with a phenomenal view. We don't even know what "homework" we need to do...
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First thing to do is read the book. That is the best homework. There are many things that can be done, but I'd read the book first to get a grasp of all the tools Dean provides. There is a ton of info in the books.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
Reading the book will help out alot, And also don't forget about the success academy. I did join and have no regrets at all. I also read the book from front to cover the first day I got it. GOODLUCK.
Randy
www.adeptpropertiesllc.com
First of all are the owners there? If so talk to them. Is it listed? How much is the note? Other liens? Can they seller finance it? You could sandwich lease option. If you lock it up it will stop the foreclosure! If all fails go to the auction with business cards thats where the cash buyers are and build your buyers list
Theresa
Great points! We're reading the book as fast as we can, I'll be staying up late : ) Theresa, thanks for reminding us of some "obvious" things to consider, that's just it...we're so new that those didn't even occur to us. DUH!..yes, of course we need to find who the owner is, and see if they're accessible. (why didn't *I* think of that?!?!?) (The house has been vacant for some time, so not as easy as walking next door, but definitely something to find out!) That's a great first step. So I guess we have a short window in which to find out some info fast, and see what we can do. We'll move forward on your suggestions, and will post back here with our progress/ further questions. Thanks!
I would suggest that you continue to read and read Dean's book. If on the other hand you want to do a dry run on looking up the property info for this house you should do it for the experience.
I would hold off on the auction house especially if it is a tax auction or foreclosure, which I am assuming it is. On these deals you need to have your funds together before the auction since payment is due within 24 hours.
But all in all it is good to see you jump in to the game with no fear. Your knowledge of this business is a very powerful tool so you need to read and read. The next deal won't be far away I'm sure. Good luck...Jan
AIDEN/COLE PROPERTIES LLC.