What To Post Here

What To Post Here

This forum is ONLY for discussing specific real estate deals, not general principles relating to investing.

We advise you not post actual addresses for privacy purposes, but at least the state and city (or general metropolitan area).

Give as much details as possible on the property, such as year built, price you negotiated/paid, estimated value, number of beds, baths, size, lot size. The more characteristics the better.

Also, add the situation that enabled you to get the property, the technique used, and you net profit if it has been completed.

Photos add a lot to this. Please post photos if possible. If you have difficulty contact me via "PM" (private message), and I will help you with that.

Showing your step by step process and the results obtained is a immense help and motivation to others. Not only will it solidify your status in our investment community, we will also be rewarding those with opportunities that will be of great benefit to you.

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New Deal

I am finally buying a property for no money down that completes a square containing 2 other properties I already own. It's in Washington in a small town with alot of pride. I put out flyers and talked to locals, but my daughter helped too. I asked if could pay 1,000 a month starting in 3 months for a total of $20,000, with no prepayment penalty and of course and/assigns on the contract. Now I have a total of 1 1/2 acres with 1 house and 2 buildable lots, 3 water rights and a new easement road going down the middle. A house across the street is for sale for $229K. I have 2 potential buyers in mind and don't need to borrow any money. jrgnsn

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jrgnsn


My first Deal, and I started reading the book 24 hours ago.

Hello, everyone just wanted to say that I got Dean's book last Friday the box set on my desk until yesterday. I open the box took out the book yesterday at 10:00 am because it was my day off, and I said I bought it so I'm going to do it. I started reading the book skippped ahead to Matt's example because I wanted to get right into it. Read all day went to sleep about 10:00pm, got up this morning started reading again today and reread most of it again. I just happen to call a friend, and told her I was reading a real estate book, she told me that someone she new house was in preforeclosure. I asked for her friends number, called him, asked him if he did not mind if I could offer some help to him with his situation. He said sure, what did I have in mind. I told I could get a deal done in 14 to 30 days if he let me take over his house and sell it at 20 to 30% off he said yes. I asked him questios about the house how much is the FMV he said it was appraised for 135,000 last year, looked it up on the county appraisal site it is listed at 99,940, 3 bedrooms 2.5 baths 2 car garage 1570 sqft, built 4 yrs ago. He told me to come by the house tomorrow and sign the agreement, he sounded so relieved. Now I'm getting a buyer, I have no doubt that I will have a buyer in the next 3 to 5 days. Thanks Dean, this system was design for me, you have open up the floodgates and the water is gushing out. If I can do this in less than 24 hours without reading the entire book just the parts you felt a person like me needed to read which was the Matt's example. I have no doubt I will be a be retired after reading the entire book that I've bought, and have a million dollars worth of property in two years. I can believe it, I just did not think it would take me less than 24 hours to get a deal, but is is all because the system you have is straiaght forward and easy to use, All I did was repeat what I read. I have to go now downloading the forms for the contract that is to be signed tommorrow. Thanks again Dean you ae a God sent.


Our First deal with Deans Stategies

In August we started making multiple offers after finally finding a Realtor that is like minded. We decided to start with 5 offers a week. On this property we made multiple offers. It was an REO. The bank kept countering with us. I think we countered back and forth 4 times we started at 117k and they accepted our offer of 85k. I like it!!
We finally closed in September. The house is located in Longview Washington. It is a 4 bedroom 2 bathrooms, 1200 sqft, sitting on a half acre that is zone C2 , which means that a person could build 2 4 plexes on it. Fair market value after fix up is 150k. So it is a pretty good deal. Smiling
We have put 4k, including holding costs, in it and will be putting it back on the market next week.
What have we missed I would appreciate your ideas.

Dan and Donna

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"Don't tell me I can't, Tell me how I can."


John

VERY NICE!!!

Just keep looking and you will find more Nice way to take action!

Donna

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"Don't tell me I can't, Tell me how I can."


Dec 01 2009 Need help with landlord

Hello everyone,

I'm a new investor. Surprise! lol My husband and I are currently renting a 3/2 home. I went to look at a property today and the agent that showed it was the same agent that is handling the property we rent. Haven't seen her for over a year either. She didn't even recognize me. While catching up with her, she let me know that the woman who owns our house, wants to sell it. She wants to get out from under the payments so as not to ruin her credit and seems motivated. Since my husband and I do not have good credit, we would need to do some creative financing with her. We do not want to move right now. We like this house and would like to purchase it from her.

Does anyone know of a way we can buy the house from her? We can't spend any more on a monthly rent. She purchased the house for $140K in 2004. Currently, as I was told by this realtor, she owes about $130k. Of course the market value is around $65K - $70K.

Any help is appreciated.


GREAT Income Property in Atlanta!!! Anybody Interested???

Great Income Property, Ready to move in (Tenant just moved out)
Eye-wink Eye-wink Eye-wink

Rent income range from $780 ~ $900 (Section 8, you can get $900)
Renovated 2010
Single Family House, 3 beds / 1 bath
Address: Perkerson Rd, Atlanta, GA
Built: 1952
Est. Living Sq ft: 1,073
Subdivision: Central Heights

Value: $99,500
Sale Price:$49,000
Insurance & Tax : $119 / Monthly
E-mail : bestpropertygroup@verizon.net

It is a great income property!
If you want more info or photos, please PM me or e-mail me Smiling Smiling Smiling

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Whether You Think You Can or Can't, You Are Right
~ Henry Ford ~


First Deal 1/2 Done!

moved this post...


Anyone Can Do This

Anyone can do this. The only thing stopping me is myself and I've battled myself many years now. This was my first deal. Many may have heard of the Quad Cities in IL. The house is a 3BR 1BA 2 story home. I was out of town when I saw the price drop from $49,900 to $44,900 so when I got home realtor and I looked at it. I originally put offer in at $35,000. The counter was $44,500 so thought deal was over. The seller's realtor called mine and then she (mine) called me to see if I could meet halfway. I went home and redid numbers (costs, expenses, etc). I countered $38,000. They countered again $40,000. I will be specific here because I think it's important to stick to your guns and use everyone and anyone you know that's an investor especially wholesaling. I have a local investor mentor so I called him about the counter. He told me to stick with the $38,000 and I also talked with a 2nd investor friend (if on my own without this site or other mentors I would have probably went ahead with $40,000). Realtor's talked and seller said okay as long as there were no contingencies so I did take a risk with that but by this time I had seen the house 2 times thoroughly. So offer was accepted at $38,000. This is the interesting part.

I was going to hold it but decided to put in and/or assign when I signed the agreement just in case. Then when offer got accepted I checked craiglist for we buy houses ad and sent an email to one of them. Actually I had met this young man as he had been to one of our REI meetings. He said to send pics and such. In the meantime I sent email to Matt (cbrpower) Larson. Matt and I went back and forth then we talked on phone only to find out Matt had put offer on the same house for the exact same price that I got it for. What I didn't know until the Edge 2010 is that Matt's offer was approx 2 weeks before mine. And he resends his offers about every 2 weeks and his realtor tracks all of his offers so that's how he knew he had bid $38,000 on the same house. One other thing I didn't realize until it was all over was that this house had been on market for 159 days and the owner lived out of the country like in China or somewhere.

Anyway I was asking $3,000 for assignment fee and I kind of new there wasn't too much room for that amount but you can go down but not up with your fee. And actually Matt offered $1,000 and I asked for $1500 (I didn't want to be greedy asking for $2,000). So that's how this deal went down. One a seasoned very very highly successful investor with someone who just did their first deal.

I guess anyone can compete with the big dogs and don't be afraid.

Oh I might add since then I also received a $500 birddogging (property locater) fee for an up/down duplex that was a foreclosure. And I'm closing Thurs, June 17th on an REO home.

Blessings to all,
Cathy L


Just saw Deans 110 degree video, fits me, Want help have 2 deals

W O W.
Dean you were talking to me alright. I have my own home coming to the auction block next Fri. the 25th of June. I have just gotten 2 properties locked up w/ assignable contracts in St Louis.
I'd been calling the social serve listings of Landlords to see if any would be interested in getting on my buyers list. This one fellow said he wanted to sell. He's 80 and tired of being a landlord.
Turns out he'd just finished making it maint. free - no repairs needed at all. He's just gotten a tenant on a yrs lease for 575 mt. I asked his price, and started looking up the value at same time. He gave me a price said he'd given 3k less to buy it. His wife was not there, so we had to reconnect latter to discuss this as she was on the deed too. Took 2 days to get it under contract, they have no computer, email, fax, nothing. So I called a Kinko's near them to receive my emailed contracts, which they (the owners) faxed back to me after signing. I signed and faxed to title company we'd agreed on.

I'm assigning it cash buyer, if I can find one. It's 38-47% off market value depending on total view 50k, or Zillow 68k, ave is 59k. I'm asking 38,800.

My second deal is also a rental, found on MLS. My Realtor had sent me 50 props to review, I'd stayed up all night checking values, rejecting the ones w/ no profit margins. Finally out of 30 I picked the best four, to be reviewed. I asked him to set it up so a contractor could give me estimates. This one property needed NOTHING, I immediately offered. We countered back n forth as I'd offered just below what was their lowest priced previous listed price - 10k below current asking price. Turns out they'd just finished upgrading everything. I have the work order preformed on that property. Got it locked up, and added my assigns, still just under their asking price. But it's worth it. It's a duplex, new stoves, refrigerators, new kitchens, sinks counters, floors, Cabinets and Painted. New carpet -4 bedrooms, both Lv-room's, hallways vinyl-ed. 2 Bedrooms painted, closets, as needed. It has a new tenant on the bigger side $575 a mt. second side should be easy to rent @ 425 or 450, as it all is new.
it's a 3/1 and a 1/1 Zillow shows it 129k, total view, 109k taxes say 83k I'm saying 107k as ave. asking $58,800

I have to sell on and by Mon to get the money to the atty on Thurs.
I would even buy them myself - if I had a private or hard money lender! I've come this far - surely I am on the verge of success, and w/ such a great reward. I can STAY in my home. I really have no where else to go.
These really are great deals and turn key.
Let me know. I've posted them everywhere. I just have NO TIME, against me.
Skinner


UpDate - to my post

(intro playing sounds w/ horns) Dat to dah daaaah!
YES the 25th has passed, I am in my home.
Here's what happened. Thanks to this blog, and the great folks here. Sissy contacted me and connected me w/ Randy. He suggested I ask the bank to give me another month, so I could sell my 2 wholesale deals and save myself (my home) from the auction block. After all, he said "one week is very short time to close and difficult to do in most cases". I hadn't even occurred to me!

I had to get both deals - the sellers to agree to extend the closings, They agreed, I asked the bank for more time in lei of closings scheduled for next month, she said send her the black n whites (contracts) as proof of what I'd told her and she'd ask for more time.
I had a little trouble getting each seller to get those signed quickly as they viewed it, they had plenty of time... I needed them immediately to send w/ my original contracts, to beat the clock w/ the bank.
I finally sent what I had - somewhat incomplete, along w/ an email acknowledging agreement to the extension from one, and waited - 46 hrs before I got word. One half hour before the scheduled auction time of my home - I received an email from the bank saying it was, changed to next month - 21st, and they hoped all would work out.
YEEEAAAHHH!!!!!!!!!!!!!!!! Man I dodged a bullet. I thank you Randy!!!!! An for all of you great folks - KEEP THE FAITH!
Donna

These 2 deals are teaching me a lot.


Donna?

[quote=Skinner](intro playing sounds w/ horns) Dat to dah daaaah!
YES the 25th has passed, I am in my home.
Here's what happened. Thanks to this blog, and the great folks here. Sissy contacted me and connected me w/ Randy. He suggested I ask the bank to give me another month, so I could sell my 2 wholesale deals and save myself (my home) from the auction block. After all, he said "one week is very short time to close and difficult to do in most cases". I hadn't even occurred to me!

I had to get both deals - the sellers to agree to extend the closings, They agreed, I asked the bank for more time in lei of closings scheduled for next month, she said send her the black n whites (contracts) as proof of what I'd told her and she'd ask for more time.
I had a little trouble getting each seller to get those signed quickly as they viewed it, they had plenty of time... I needed them immediately to send w/ my original contracts, to beat the clock w/ the bank.
I finally sent what I had - somewhat incomplete, along w/ an email acknowledging agreement to the extension from one, and waited - 46 hrs before I got word. One half hour before the scheduled auction time of my home - I received an email from the bank saying it was, changed to next month - 21st, and they hoped all would work out.
YEEEAAAHHH!!!!!!!!!!!!!!!! Man I dodged a bullet. I thank you Randy!!!!! An for all of you great folks - KEEP THE FAITH!
Donna

These 2 deals are teaching me a lot.
[/quote]

Just wondering if anyone has heard from Donna since the auction date?

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"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"

"SUCCESS WALKS HAND IN HAND WITH FAILURE"


I'm making some $$!

Hello All,

Well, I have started making a little bit of money. I was blessed to meet 3 people with money who wanted to make some more money. I was then blessed to meet someone who knew how to put deals together! What a match! Basically, it's Private Lending. But I recently developed a 50/50 equity partnership with one of the lenders. I found us a house, we bought it and now we're starting the rehab! Hope to net about $60k profit! And to boot, my son has a contracting company and is excited to be our GC. It's helping him build his business as well!

On top of that, each of them wants to do equity deals with me! In the not too distant future, I will do my own buy/fix/flip and hold using their money.

I have 5 total private lenders I'm working with on various types of deals in our area.

Needless to say, I'm very happy to be learning how to make money for all of us! Thank you Dean G! The future looks brighter....I continue to search out new lenders and new strategies using creative financing to create more deals.

I give all the Glory to God!

Linda

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"...be; not greedy for money....but eager to serve"
1 Peter 5:2


Help

My wife and I found a piece a property that we would like to buy for ourselves.
However, our credit stinks. It's a good deal plus the neighbor behind the property wants to buy of the property that runs behind their house.
Anyone have any ideas. The wife and I really like the piece of property.
My email address is lakohls@**** if anyone has any ideas please feel free to send me an email.

Thanks so much for the help.....


R E A L E S T A T E

Can anyone explain why there are so many threads here that have nothing to do with real estate? Ground control where are you!!!
Joseph


FIRST DEAL finally completed!!!

I got this property under contract in April or May. It was supposed to be a wholesale flip. The house was a 3 bedroom, 2 bath, totally trashed. It needed EVERYTHING. Roof, foundation work, A/C & heating repair, flooring, paint. If you can think of it, this house needed it. The owners had moved several hours away, and could no longer look after the place. It had been vandalized. I got a cash buyer pretty quickly, but then that fell through. I'm new at wholesaling, so I don't have a very large buyers list. I couldn't get another cash buyer right away, but the seller said a friend of his was interested in it for him & his family to live in. I figured that would end my participation in the deal, but the seller said he still wanted me to get my part that we had agreed on. So, after months of waiting on repair bids, appraisal, LOTS of stuff that had to be cured on the title, etc., it finally closed the week before Christmas! I received a check the next day for $3000!!! I could hardly believe it! The seller's wife had been saying she was tired of waiting & was just going to pull the plug on the whole deal, so I didn't really expect this one to ever work out. God is so good!

I got this house from a probate list I purchased. That was money well spent! Now I'm ready for the next one.


Interesting situation

Hello All, I have an interesting dilemma...........albeit a good dilemma.

As a new investor I've been spending a significant amount of time learning what I can, reading, listening and asking questions.

I might have my first deal in the works. Consists of a package of 7 re-habbed houses in KC, MO ready for rental or ?????

My dilemma???? Outside of being totally nervous, excited and scared out of my wits, I'm not necessarily in a financial position (Unless I go after Hard Money) to secure this deal and would like someone interested in this situation to take over. These houses are not even on the market yet. I don't have any particulars other than the current owner and addresses of the properties and awaiting the contract. I learned of these thru a person I've contacted a few weeks back and have kept a working relationship with.

I have checked out the properties on both Trulia and Proptrend so depending on what the seller is asking..........this might be an ok, good or great situation.

Would really like to see this happen as I'm sure it will suit someone's game plan. Anybody interested in this potential opportunity? All I ask is a "Finders" fee or possible assignment or maybe a double close. This would require someone helping me out to secure these possible scenarios and of course helping complete my first deal (Yahoo).

Please PM me so we don't take up thread space if this sounds like a deal worth pursuing.

Is that good news or great news? LOL (Quote from Paul Young, one of my trainers in Canada)

Best Regards,

Michael

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You miss 100% of the shots you don't take! Wayne Gretzky


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