OfflineWhat's up investors of DG? I'm new to Dean's site but I've been wholesaling for almost 2yrs. but most of 09 I haven't been doing anything. I found my self having to work with partners who had hard money lenders and the fact that I couldn't find my own lenders to back me so I continued to work my 9-5. Now I'm back stepping out on faith, the good news is that I found a short sale thats in great condition (move in ready). The comps are $187,191-$199,500. I'm going to put make a offer of $120-$125k and flip it to another investor for $140k. What do you guys think? However, I still need to find the funds to back me.
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O yeah the price has been reduce from $190,950 to $174,950.
Hi Fernando,welcome to the DG family.Glad to see you stepping back into the game.Why don't you do assignments?That way you don't have to worry about having someone fund you.Is it transactional funding you are talking about?If so you could use "coastal-funding.com" they are kind of expensive but if that's what it takes to make it happen.It's better to make a deal happen with a smaller profit than not make a deal happen.Hope this helps and much success to ya!
"Every failure brings with it the seed of an equivalent success"
Napoleon Hill
http://www.deangraziosi.com/real-estate-forums/investing-journals/42379/...
Mike
Kalamazoo,MI
Thanks, and yes the transactional funding is what I'm talking about. I tried several other transactional funding but they only will give it to you if you had a business name that was registered. So what do you think about the deal?
Fernando,
Welcome to the DG family. Stepping out on faith means stepping out ALL THE WAY! You already have the money if you truly believe.
Now faith is the substance of things hoped for, the evidence of things not seen. ~ Hebrews 11:1 ~
What are they asking for the Short Sale?
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
The price has been reduce from $190,950 to $174,950 and I planned on offering $120-$125k. The comps are $187,191-$199,500. The property only needs paint in the bedrooms because they're a different color from the rest of the house. If accepted I planned to flip for $140k.
Hey there all you DG Investors! I'm just starting out and I am very excited about being an Investor, I am in the Bay Area in San Jose Calif and I'm wondering if there are any of Dean family in my area? I am interested in doing assignments can anyone give me a little help in how to go about doing them?
GIA
Hi Gia there are posts looking for wholesalers in Ca.Use the search function at the top left and im sure at least a few will show up.
Fernando If your offer of $120,000-$125,000 is excepted I would offer it at
$130,000 maybe $135,000.$135,000 is about 70% of value and when you start trying to make too much profit on a deal it becomes less attractive.Thats about all I have. I don't know much about short sales.Believe you can do it and it will be done!!
"Every failure brings with it the seed of an equivalent success"
Napoleon Hill
http://www.deangraziosi.com/real-estate-forums/investing-journals/42379/...
Mike
Kalamazoo,MI
Sure thing, thanks.
DG Family,
I have very excited to be a new investor. I have read Dean's books and I am a member of the success academy. Now I looking for properties that I can invest in so that I can get the firt deal under my belt. I am anxious in receiving any advice.
Thanks,
Ella
It sounds like you're on your way.I hope it goes smoothly for you. Keep everyone posted on your progress. Best of luck...Johnnym66
jm66