Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

Hey Guys

I have been so blessed to get hundreds of emails, letters and videos from students all over the country sharing your success. I have even been able to become friends with many of my students and that has been awesome.

Each of those stories inspire me to work harder and create tools to get you making money right now when you need it most. I consider my students as an extended family and when you do that, then YOUR best interest is always on my mind. And the truth is, I love it;-)

We have so many videos at ww.deansmedia.com - I have hundreds of emails and letters and please know I read every single one. But tomorrow I am doing a TV show and I want to mention a few of you and tell your quick story.

Hey Guys

I have been so blessed to get hundreds of emails, letters and videos from students all over the country sharing your success. I have even been able to become friends with many of my students and that has been awesome.

Each of those stories inspire me to work harder and create tools to get you making money right now when you need it most. I consider my students as an extended family and when you do that, then YOUR best interest is always on my mind. And the truth is, I love it;-)

We have so many videos at ww.deansmedia.com - I have hundreds of emails and letters and please know I read every single one. But tomorrow I am doing a TV show and I want to mention a few of you and tell your quick story.

During the past few weeks, I have had several DG Members inquire about finding REOs. Thus, I hope this information will be useful and informative to the DG family.

The following is my REO action plan that I created and I hope you will achieve many results with REOs and will share your results, strategies and additional tips, with the rest of the DG family. So be sure to take action and let your adventure begin!

1. Make a list of all the small local banks and credit unions in your local area.
2. Visit each website to learn a little more about each financinal institution
3. Have a notepad available for each call. Always note the date, the financial institution and who you speak to. Write down as much information as you can.

Good Morning DG Members,

This is the second time I have run into it this month. I am beginning to use a broker to submit my offers for multiple properties whether or not he is the listing agent. However, I found that my broker is not getting any reply from the listing broker regarding our offers. He stated that the Asset Managers on these REOs usually get back to offers within 24-48 hours. However, a few offers are now in the 4 day range with no response.

Good Evening DG Members,

I went to look at an REO that had potential this past weekend. The REO is in a nice affluent area and doing a little research I found that the REO had sold for $175k last year. The home was taken over by the bank and the bank did not have the electric on in the home so the sump pump in the basement did not work. Thus, there was 4 feet of water in the basement and mold everywhere. This can be a messy and costly clean-up. They listed the home around $95k, I believe the home to be worth (ARV) around $140k when cleaned and updated.

Hi Everyone,

Has anyone have any experience with this?
If a property has negative equity, what would you do?
Walk away, try to get the property???

The reason I ask this question is because I found a few properties that has negative equity/upside down on their mortgage and wasn't sure if I should even consider pursuing those properties.

Any advice or input is greatly appreciated.

Thanks!

Hi DG Fam:

After my last post about my experience with rental properties, I have gotten a huge amount of PMs asking for the copy of my lease agreement.

So, you have asked, I have provided!!! Here it is attached. Hope it works, since I haven't done it before. Keep in mind that this lease took 7 years to make, many deadbeats and people who burned my house down to help me alter it. So, if it seems a bit harsh, sorry But then again, if the person signs something like that then you know he/she is not going to really hurt you or themselves.

I have attached a list of note buyers. Keep in mind that this list is a little old and because of the market you may find some of the information old.

Company Contact Phone Fax
SES Ricki 914 592 1027 914 592 1326
-They buy most anything. No interst only notes without excellent credit
Interbay Jim Hollar 800 565 8350 817 481 9969
-They buy all
Freedom Financial Chris 509 777 2274 Same
-They buy all

I would like to take a moment to talk about one of the least talked about ways to purchase Real Estate, and also one of the BEST ways to purchase Real Estate, Buying Property "Subject To" first lets understand what it means.

"SUBJECT TO": Buying RE "Subject To" Simply stated: Your buying or taking control of a property "Subject To" the existing financing(mortgage or deed of trust) remaining in place in the sellers name.

Hey everyone you have to check out the new 4closurealert.com website (http://www.4closurealert.com)!