OfflineI recently bought Deans book and read it cover to cover. I decided to try and gather a buyers list first by posting free classified adds. Within 24 hours I got my first call. Now I don't know where to go with it... The caller has a credit score in the 500's and wants to relocate. He also has a home for sale. The home is located 3 states from me and is valued @ 97,000. He is willing to let it go for 42,000. Using Deans no money down and no credit program I would like to help this man and be able to make money on it. I would like to help him auction it as a consultant, however I am 3 states away and can not fly due to being 8 months pregnant. Please help. Any ideas on how I may be able to help him and profit from this would be great! Thank you.
HELP! My first deal...
Posted on: Sat, 03/21/2009 - 20:57
What is the main difference that prevents the ability to be accused of practicing real estate without a license?
I am blessed to be a blessing!
But remember the LORD your God, for it is he who gives you the ability to produce wealth, and so confirms his covenant, which he swore to your ancestors, as it is today. Deuteronomy 8:18 (Today's New International Version)
I have no idea what the rules of doing an auction are, but could you set up an on-line auction, with him holding open houses at the property beforehand? check into the legalities of it first, though.
Could you advertise for a buyers list from that area and lock up and assign the property yourself? He could show it to prospective buyers (AFTER you get a purchase agreement with him) for which you could give him a little extra on the purchase price or as an "assistant fee". If you have the skills to do the marketing from where you are, I would think he would jump at the chance, especially if you are saving him realtor's fees (real or imagined).
Just a couple thoughts.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Would you mind starting a new thread on this? I think it's a great subject but might be in the wrong thread? You'll get a bunch more response if it is more visible.
best wishes,
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
I'm not sure if I put it in the right place ... but I tried. (smile)
I am blessed to be a blessing!
But remember the LORD your God, for it is he who gives you the ability to produce wealth, and so confirms his covenant, which he swore to your ancestors, as it is today. Deuteronomy 8:18 (Today's New International Version)
Sounds like a lot of unknowns here. what condition is the house in and are there any leans on the home. I would atleast ask him for pictures of the house inside and out if you are thinking of buying it. Maybe you can get someone from here( dg family) in the area to look at it for you. did you find the FMV or did he tell you that? do your home work before committing to anything.
Richie.
Hello aroyster,
I am just finishing up Dean's book too and have to put together my real estate team too. I would think you would try and lock it in as Rina stated. I am very proud and excited that you took theses steps so far. Please keep us updated on how you handled the sale.
Like CMJ-REI said, congrats on taking action!
Also, Richie is absolutely right! Of course you have to do your homework on this property before ANYTHING. (Got a little ahead of myself thinking of creative marketing.) $42K sounds like a great deal, but you have to run your numbers and research the area to make sure. Plus you don't want to become emotionally attached to the situation. If the numbers make sense and this is something you want to try, go ahead. It might be a little hard long-distance unless there is someone you trust right there to keep things going smoothly. If this is your first deal, a target area you're more familiar with (and closer to you) might be a better place to start, but don't be afraid to try something you want to do. Thanks Richie for catching that.
Good luck!
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Hi! I recently got offered a few properties as quit claim. Anyone know how I should go about researching these properties? I know it's probably a question I should know about, but I wanted more opinions or stories.
Thanks so much!
Cyle Greenwell, President
Max Enterprises, Inc
612-437-7960
maxenterprisesinc@****
Thank you for all of your advice. I think with it being so far away and being 8 months pregnant I should wait on this. I did target my market closer, he had read an add of mine and contacted me, I was just curious about the possibilities. This is my first deal, I think closer would be better. Again, Thank you all.