30 Days Quick Cash Formula

The real estate agent that helped my husband and I buy the duplex that we live in now was referred to us by a couple of RE investors. Would it be advisable to maybe try him first, or would it be best to form a relationship with a new RE investor who knows nothing about my husband and I?

Where is everybody looking to buy? I live in Chicago and I think I am going to use this technique to develop a power team in another state. I am pretty cranked. This will be a proving run for me. When it works out it is going to feel great to know that you can do this anywhere from your computer!

What part is everybody on with the 30 day quick cash system?

Hi atwaterloo,

I'm focusing on my local market in Wichita, KS since I'm brand-spanking new at this but I do plan on expanding my horizons beyond my local market once I get things going.

On Day 2 of the first 5 days: Right now I'm working on finding the Perfect Real Estate agent. I've made contact with one I believe will work, just waiting to call them back after lunch to field through some more of the questions (suggested by Dean and Matt in the video) to see what his mindset is. Hopefully I'll have 5 deals emailed to me today or tomorrow along with the list of cash buyers.

I'll definitely keep you updated!

Wow, sat up last night and did the video for Days 1 to 5. So jacked up and ready, I couldnt sleep. Had commitments today, but getting started this afternoon. Good luck to everybody just starting out. I am ready to change my life.

I used to be heavily involved in real estate in 2004-2007, and "lost my shirt." Now, thanks to Dean and the 30 Days to Fast Cash program, I'm eager to do it the RIGHT WAY this time....working a full time job, but just finished Dean's and Matt's first video. It all makes lots of sense...can't wait to put it into practice. Will be calling the KW and ReMax realtors tomorrow! THANK YOU, Dean!

michellecaseyks - Congrats!! Please let us know how your search goes for an agent.

Here is what I have run into over the past couple days. I am starting to realize that Dean and Matt are 100% right! I have made 5 calls to offices. 3 have not called back and I have spoken with 2. The first agent that I talked to was the first one that I called, but she has yet to follow up with anything I have asked her to do yet. She actually knew people that I knew in the area. The second guy I talked to was preaching the investing blues and was casually swearing through out our conversation. Needless to say I couldn't get off the phone fast enough.

Another tid-bit of info, is that I am a real estate agent. When I first started a month and a half ago, I thought I could be my own agent. Let me tell you, it is very inefficient to be your own agent. The tasks of drafting, and scanning, and sorting contracts is so daunting. I really see the power of having your own perfect real estate agent, even if you are a real estate agent

How is everybody else doing with their real estate agent search?

Well, not too sure how to handle this one. The RE agent I've been speaking to wants me to call a bank FIRST for financing before he'll do anything! How can I get around this, or should I just look for another RE agent?

I would do 2 things.....

1) Keep looking for another Realtor. Being one myself, that's a question I always ask to people I speak with for the first time. That is a question for people who are going to buy a house to live in it for 30 years. This Realtor doesn't sounds like one who will work with investors very well.

2) If they ask how you will be paying for the property tell them you will be writing CASH offers. If they ask for proof of funds, you can tell them you will get them proof of funds for a specific property when its time to write an offer. You can get them at:

www.coastal-funding.com
www.insiderscash.com

I just had a great conversation with a realtor in the area I am looking to invest in. I am sooooo excited! He said all the right things like: "I take a look at the property for you and tell you to act" "I am not afraid of submitting low ball offers" "We have to submit 15 offers for one to get accepted" "I know how much things cost, such as carpet, paint, tile...." "I'll do a proforma for you and send it to you in a package."

Here is my follow up email where I said "Can I have your email address so I can send you something so we can start our relationship" just like Dean said to do:

Hi XXXX,

It was great talking with you, I really appreciate your willingness to work with me. Would you mind sending me the following? I will further use this information to develop my investment strategy.

1) Can you send me a list of all the properties that have closed in the past 90 days in cash?

2) Can you send me 5 properties that you think would be great for an investor like me in the areas we talked about?

3) Out of all the areas that we talked about, which area or pockets are the best in your opinion to buy/fix/sell? Which of the areas/pockets do you feel would be great rental markets?

4) One last thing, can you send me a name or two of an attorney and a mortgage broker that you like to use?

Thanks so much for you help!

Talk to you soon,
Alex Waterloo

How difficult is it for a RE agent to obtain a list of Cash Buyers from the MLS? Also, do you think I should disclose the fact that I'm planning on assigning the property? I'm sorry to bombard you w/questions like this!

The RE agent I've been talking to was actually the one who helped my husband and I buy our duplex in which we are living; and was thinking (hoping, wishing) that he might be willing to stick his neck out a little bit given our "history" if he knew the deal. He was actually referred to us by a couple who are investors (who don't assign properties).

Either way, I'll take your advice and continue to call other offices using the info you so graciously provided (thank you SO much)!

It wont be very difficult to get a cash buyers list. I went in the MLS that I have access to and was able to access it. You might have to tell the agent that they will have to manually add a search field to their search under an "Advanced Options" tab. Then they can search under "Fiance Code" for all closed deals as "CASH." If they don't know how to do it, offer to them what I just told you or have them call their MLS help line. Every MLS system has one.

I would not disclose that information that you want to assign the property. It is really not their business what you do with the property. All it might do is scare the Realtor. I was originally doing that, but then my advisor told me against it as well as I was getting rejected offers from sellers.

I I FINISH THE VIDEO OF 6 PAGE BLUEPRINT AND I CALLED 5 REAL ESTATE AGENT I LEFT MESASAGE THEY WERE NOT IN THE OFFICE AND THEY ARE INVESTORS AGENT
AND I SPOKE TO ONE CLOSE TO MY TOWN. ONE THING HE LISTEN TO ME AND ASKED ME IF I WAS A CASH BUYER I TRIED NOT OT ANSWER THAT QUESTION BUT I SAY I WAS AND I DO NOT KNOW IF I MESS UP AND HE GET MY PHONE AND SAYING HE WILL CALL ME BACK.

WHAT THE CORRECT ANSWER FOR THIS QUESTION ? ARE YOU A CASH BUYER ?

From what I gather, you're okay. Basically the RE agent is just wanting to know how the purchase will be made. Literally, NO you aren't the "actual buyer", but you will be making an offer on a property, "locking it up" as they say. If they ask for proof of funds, simply do as Awaterloo has advised in this very thread.

I've had questions about the topic of providing proof of funds. I found some great insight by searching this website using keywords "proof of funds". Don't let it discourage you if you come across it.

--EDIT: see Awaterloo's comment below. He's MUCH more qualified to comment on this topic than I am According to him, in the instance of assigning a home, we are all cash buyers.

It sounds like a lot of people are running into the problem of having real estate agents ask for a pre-approval or if they are a cash buyer or not. The simple answer is YES, YOU ARE A CASH BUYER! So, when the Realtor asks if you are pre-approved or how you are going to pay for the property, tell them that you will be writing cash offers. Although you personally are not going to be buy the property, the person who is ultimately will be paying cash for it.

If a Realtor insists that he/she needs proof of funds for your transactions, you can do two things.

1) Find a new agent. The agent (who might be your friend or have been recommended to you by a friend) might not ultimately be "investor friendly." If they keep insisting on a document, they are most likely of the "retail buyer" mindset. This will cause problems with them trying to talk you out of submitting low ball offers and will get frustrated with you if keep putting in lots of offers and none of them are accepted. Just remember, its a numbers game! Your going to submit lots of offers, few will be accepted. Same thing with Realtors. Your going to talk to a lot, but there will be few that are truly "investor friendly."

2) You can use these websites to provide proof of funds for cash offers for specific properties only. I use coastal-funding with my offers. So you can use these to put your Realtor at ease.

www.coastal-funding.com
www.insiderscash.com

One thing you can do is go to Coastal-Funding.com and Print verification of funds.
I believe it gives you certification of $500,000. If you are a Success Academy member ask your advisor.

All you should have to do is show that letter to the agent. This will satisfy the agent. One you find a great deal Actual financing is another matter, and that can be handle by partnering, assigning the deal to someone else it doesn't matter once your agent leads you to a deal someone will make it happen.

Brian

@AWaterloo: Thank you so much for your insight! You're helping myself, and many others, to get past the "sticky points" of obtaining an "investor friendly" RE agent! I'm going to keep making more phone calls as it seems that the one I've known and been in contact with truly isn't investor-friendly at all!

Not a problem! I am having a lot of fun! Everybody is helping me too. If we keep this up, I don't think any of us will fail. Heck, I know I'll do whatever I can to make sure nobody fails! Keep up the great work everybody! Let's get our first deal done!

thank you, I will do that

When I sent the request of the cash buyer in the last 90 days to my agents. This is what he email me this morning.

Are you asking me for the people that bought property from me for cash, their phone numbers??

what do I say to this question

Hello everyone. I am as new to the DG world as can be. I have ordered the RB course but have not yet recived it. I have just been going through all the blogs and it seems that you guys really are reaching out to help each other. It really feels like family here. I just hope that when I am ready and able I can return the favor to those that need that support to. You guys keep up the great work and let all make that money!

Hello everyone. I am as new to the DG world as can be. I have ordered the RB course but have not yet recived it. I have just been going through all the blogs and it seems that you guys really are reaching out to help each other. It really feels like family here. I just hope that when I am ready and able I can return the favor to those that need that support to. You guys keep up the great work and let all make that money!

THis morning I made calls and left messages.
I receive a call back from a Real estate agent and she'll be sending me a listing this afternoon.

conquesttsi89 - You are going to want to have your agent to search the MLS and pull up all the properties in the MLS in your area that have closed in cash in the past 90 days. It doesn't sound like your agent knows how to do it. You can advise them how to do it in one of my posts above or just simply direct them to call their MLS help line to do the search. It is relatively easy to do.

Facebouy2u - Welcome to the group! I think we have a great group of people here who are asking great questions and everybody is contributing with their experiences. This is great. Welcome! Let's be the first people to show Dean that his hard work and Rock Bottom Blue Print works!

Has everybody been able to get a hold of an agent so far and been able to request a list of from their agent?

If you have not been able to find or get a hold of agents in your area, please let us know. We'll help you!

I did tell him what I wanted..He is just asking Why I need them

Just tell him that you need all the cash sales in the are because this is going to help you further develop your investment strategy.

Thanks for helping

No problem, if anybody else has any tid-bits of what they say to agents, please share!

I wrote something under the craiglist ghost AD can you go look and see if you can answer that question for me

This program appears to be DG 101 Bread and Butter strategy, but is heavily contingent on getting an agent to submit offers. Below is a step by step instruction I call: "HOW TO TRAIN YOUR REAL ESTATE AGENT!"

How to get deals @ 60% ARV First Draft
1. Get a real estate agent who is willing to submit 3-5 offers a day 5 days a week!
2. Give them your property criteria and tell them to get a list of all the properties that not only match that criteria, but are also REO’s that have been on the market for >60 days.
3. From that list have them pick the 10 that look the most motivated (willing to negotiate, submit all offers, seller motivated, needs rehab/TLC, price just reduced, etc)
4. Have agent start with top one and get all comps that sold within 90 days within 500ft^2 of the same size, within ¼ mile.
5. Have them do a CMA comparative market analysis of the property to determine ARV.
6. If there is are at least 2 comparables from step #4 that are less than 60-65% of CMA in step #5, then go on to step #7, otherwise disregard.
7. Have your agent call the listing agent and tell them that you have a cash buyer that has already seen the property and is interested in putting in an offer in, but because of the extensive rehab it will require, and the fact that there are “X” comparables within ¼ mile within 500ft^2 of the same size that have sold in the past 90 days for less money, my buyer isn’t going to pay more than that for the property, because it isn’t worth any more than that, especially in its current state.”
8. Your agent will then ask the listing agent if they think the bank would consider a cash offer with a quick close and if they should bother submitting the offer.
9. If they say yes, then agent then agent submits the following in one PDF file to listing agent:
Page 1- cover page with something like the following:
To whom it may concern:
Attached is our offer to purchase 123 Seasame Street, Barneyville, TX 12345. My client is a cash buyer who is interested in purchasing distressed properties and leasing them out with options to purchase to buyers who can’t currently qualify. They have been through the property and feel that despite the extensive repairs that will be needed, that it will be a good long term investment, but they are not going to pay more than the property is worth to get it, and based on the “X” comparables within ¼ mile within 500ft^2 of the same size that have sold in the past 90 days, my buyer will offer you $XX,XXX cash for the property. As you can see my buyer is well qualified and can close very quickly, but isn’t going to pay more than the property is worth in a buyer’s market.
Thanks for this consideration.
Cheers,
Oscar the Realtor
Pg2 -5 Low comps
Pg6 POF or bank statement if you have one
Pg7 Photocopy of EM check
7-X Purchase Contract