FAQ: Answers To The Most Asked Questions - Start Here

FAQ: Answers To The Most Asked Questions - Start Here

This post will contain a constantly evolving list of frequently asked questions and topics for help or information. If you have a question, check here to see if has already been answered, or if there is an existing topic that you can build upon.

This is just a quick skim to get it started, so there is room for a lot more topics and posts to be noted here. If you notice a question or topic that would be helpful to be included, or link that should be added to an existing topic, please post the question/topic and links. Smiling

**** NOTE: If you have a question, do not post it in this topic. It will be deleted. Post a new topic for any additional questions. Replies in this forum are limited ONLY to suggesting new links to add or questions (based on repeated requests in the forums) to this list. Thanks!

**** NOTE: If you have a question or problem using a product or service, need login information, have billing questions or any other question regarding a purchase... DO NOT post your issues here or in the forums. You must contact the support team here, these issues are not handled in the forum:
Support Team: http://www.deangraziosi.com/support

Some people have had incredible success by getting others involved. It allows them to divide and conquer, share resources and split costs. We have a great way for you to pass along the life changing opportunity to others in less than five minutes... Worst case scenario - you have extra cash for telling people about us. Best case scenario - you have a small team of like minded people to expedite your investing dreams!
Check it out: http://www.deangraziosi.com/content/just-launched-deans-friends-and-fami...

**** Follow Dean on Twitter -- handle is "DeanGraziosi"
www.twitter.com/deangraziosi

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Getting Started:
http://www.deangraziosi.com/node/61
http://www.deangraziosi.com/node/1509
http://www.deangraziosi.com/node/2455

Reassignment:
http://www.deangraziosi.com/node/2022
http://www.deangraziosi.com/node/42
http://www.deangraziosi.com/node/1393

LLC/Company:
http://www.deangraziosi.com/node/927
http://www.deangraziosi.com/node/2126

Short Sales:
http://www.deangraziosi.com/node/655

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Hey Alaska!

You may get an answer from your post here but there is a section specifically set up to help people network with others in their area. Go to this area check if there are any listed for Alaska and if not post this again in that section and use Alaska as the subject.

http://www.deangraziosi.com/forum/46

So far I have not seen any others for Alaska but don't take my word for it! Hey, there are no others so far in my area either.
Good luck...

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Deb


First Time Buyer

Hi Dean,

So my question is that I just finished college and I want to buy a house. Can i actually do that? I don't have credit history, except my college loans and I don't have a job yet. What are the steps I have to take to acquire a house.

Thanks so much for taking your time to answer my question.


Anna

I hope Dean gets a chance to answer this, but in case he doesn't, you can follow in the footsteps of others who have started off with no money. There are ways to go around the money and credit limitations but the very best you can do for yourself is to get a copy of 'Be a Real Estate Millionaire" and start reading. You will soon see how many ways there are to think outside the box and make money through Real Estate Investing. Dean puts real life stories all through the book as examples of all his winning means of making it in REI. Many of the examples he uses are people like you and I, starting out with no money or credit. They all made it work and so can you!

I am reading the last few chapters of the book and I can tell you that I was amazed at the creative ways to be used, and combined, to make REI a reality no matter where you start out. And you can start to make money in a fairly short period of time!

It just takes a little research, study, planning and enthusiasm.

Go get the book (if you don't already have it) and be sure to let me know how you are progressing. There are many great people on this site who are making money in REI and they are very helpful so stay with it.

Have fun and welcome aboard!

Smiling

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Deb


REO Property

The bank owns the property and they want to turn it over as soon as they can. They hire a Real Estate Agent or Realtor to manager the property, they will sell it for what is owed. They pay the past due taxes and any outstanding utilities so it will not go to the state for the Sheriff Deed sale for the back taxes. If this happens they don't recoup any of their loss.


think a little different

I wanted to know if buying "Think a little Different" is the answer....
Anyone using this book/audio? If so do you recommend buying it? I have the book "Be a Real Estate Millionaire" have not finished the book yet. Should I finish this book before ordering "Think a little Different"?

Thank you Smiling


hey thanks for the infor

hi thankyou for telling me this still learning all the stuff in here, thanks for replying
mike

__________________

michael scott sondgeroth

150% determined believe!!! successful most of all have fun!!!!!!!!!

BE A DO,ER NOT A TALKER!!!!!!!!


listen jen,.....

do NOT buy deans "thinking a little different", until you have read "how to be a real estate millionaire", in it's entirety, take 1 step @ a time, SULLY.

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YOUR HERO, SULLY


Home Equity Line of Credit or Secured Loan

Hello everyone,

I was captivated by Dean Graziosi when I first saw him in one of his late night "informercials" two years ago. He caught my attention immediately because he is genuine and sincere by sharing his information and wanting so much for us viewers to realize we too can become real estate millionaires.

Even though I am a happy homeowner I always like to look through RE magazines available for free at the supermarket and see what is out there especially at this time. As I was flipping through one last week I saw pictures with narratives of three upcoming bank owned properties. One especially looked inviting -- one-level townhome located in a serene and woodsy area in Glendale, California, Los Angeles County (off Chevy Chase Drive). I called the agent and left a message. The agent called me back within 15 minutes. I learned that the tenants were recently evicted and that the bank would show the place in two or three weeks. (The past people were partiers; they tore down the wall in a closet to make a room larger.) Meanwhile though I could see the property for myself; he gave me the address and I was able to drive and walk on the premises. Although I have not been inside the house I know it has potential since I could see plenty through the windows. (Besides I know a super talented carpenter and a wonderful gardener.)

Prior to this posting I read another subscriber's comments and learned not to start off with a foreclosure. I could write all day -- I have two important questions: as part of a creative transaction Dean in his book on p. 179 Be A RE Millionaire writes about his own experience in an exact letter he wrote to a real estate agent asking for a "seller concession" -- is that acceptable in any situation? Also, I am afraid to take out a secured loan such as a home equity line of credit. What if for some unforseen reason--should I decide to go for the purchase--I am no longer to make payments on it; in other words, I do not want to lose my own house where I am actually living in.

Please, an answer, a response, a motivational word or two. It would be great to talk to Dean, but of course, I know that is not possible. As he writes -- if you must -- fake it -- and believe with confidence.

Thank you.

Linda
(6.3.08 @6:00pm)


Hi Linda.

Look into the REO when it becomes available. (You could possibly talk to the bank before, but since you already have contact with the realtor, I don't know if I'd do that.) REOs (bank owned) are my favorite places for sale. I made offers on 2 yesterday and am looking at 2 more tomorrow.
You might be able to get it at a very low price, especially if there is damage. I wouldn't be too afraid to use a HELOC. You can pay cash for the property you want to purchase, and then once you've fixed it up you can refinance at the NEW value of the property. Or if you plan to flip it right away, you can then just pay back the money to your HELOC. This is a very good strategy if you have it as an option.

By the way, Linda, welcome to the site! It is great to have you here.
Please keep us updated on the townhome or any other deals you come across. We love to hear what's happening. And we're all here to gain knowledge from each other. Smiling

Best wishes,

Rina

P.S. If you would like to set your site clock, go to your account and there is a place for resetting. Smiling

__________________

"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


Think A Little Different

Jennifer,

"Think A Little Different" has enormous value. I think it puts you in the right frame of mind for your real estate venture. I recommend it.

JButcher


hey think a little diff.

i would finish the first book but go ahead and buy the second there great books i have both,of them and i have the audio cds, if you got time i would inroll in hes program, im starting it, they have live and on demand im doing on demand.

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michael scott sondgeroth

150% determined believe!!! successful most of all have fun!!!!!!!!!

BE A DO,ER NOT A TALKER!!!!!!!!


1ST TIME INVESTOR

Hello everyone! I'm a fist time investor and I live in San Diego, CA. I'm in the Navy. I just came back from a 8 month deployment in the Persian Gulf. I'm currently living in the barracks. But If I would like to move out in town, the Navy will give me $1400 per month in housing allowance on top of my base pay. I'm really interested in trying to live for free in a multi-unit residence. That way I could pocket some of my allowance to do more investing. Should I be looking at 1-4 units or go even higher with 5+ units? I also would like to structure these deals with no money down. I'm also interested in wholesaling deals. I had money after deployment but me ex girlfriend took it all. I bought a new car which was a bad idea. It was $30,000! I'm at my $5000 credit card limit. and I have other debts which put me around close to $50,000 in debt! So please if anyone is out there reading this who has done deals that I'm interested in, please..I'm all ears. HELP A SHIPMATE OUT! THANKS AND GOD BLESS!

QM3 (AW) WILLIAMS
USS PRINCETON CG-59
[email protected]


HI EVERYONE MAKESURE YOU DO YOUR NUMBERS RIGHT

HEY THERE SPEAKING FROM EXSPERIENCE ON WHAT I DID WITH THE HELP FROM MY COACHING ADVISE I KIND OF CUT MYSELF SHORT ON NET PROFIT EACH MONTH ON THIS
TRIPLEX ONLY AROUND $300 AFTER WE FIGURED UP THE NUMBERS ON MY PYMTS AND FEV
OTHER NUMBERS , SINCE I WAS SO FAR INTO THIS PROPERTY HE TOLD ME TO FINISH GETTING IT ,IT DOES HAVE EQUITY , I GOT A LITTLE INFRON OF MY SELF SO MAKE SURE YOU DO YOUR NUMBERS FIRST HAS POSITIVE CASH FLOW. JUST SOME WISDOM I HAVE LEARNED , AFTER THIS PROPERTY CLOSES HERE IN THE NEXT FEW DAYS EITHER THIS WEEK OR NEXT IM STARTING TO LOOK FOR MORE PROPS , THINKING HARD LENDINERS ANY ONE HAS A ADVISE ON THAT , IVE GOT MORTGAGE OUT NOW MY FIRST BANK ONE HAVE ACOUPLE OWNER FINACING NOW , I HAVE A VA CERTIFACATE TOO BUT I KEEP TELLING MYSELF TO KEEP THAT FOR MY OWN PLACE TO LIVE ,
MIKE

__________________

michael scott sondgeroth

150% determined believe!!! successful most of all have fun!!!!!!!!!

BE A DO,ER NOT A TALKER!!!!!!!!


Need some assistance.....

Is there anyone out there that has a "Finding A Buyer" script that will actually work, (tested & proven)...

Thanks Guys


Looking for info.....

I.ve been trying to find a Contract Agreement and an Invoice I can use when I approach a Seller with the "Instant Equity Exchange"..

Can anyone help me with that??

Thanks in advance (and Have a "GREAT" day).....


Contract agreement

Did you look in Dean's Forms and Docs link?

http://www.deangraziosi.com/resources/real-estate-forms

I am fairly new so I am not sure which one you are talking about. Have a look here as Dean has put many of the contracts in this location.

Let me know if you find the one you need. I like to take notes.

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Deb


Can REI be profitable ANYWHERE?

Are there areas of the USA where it is not ever going to be profitable to do REI?
I know this seems silly to ask but after the discussion I had yesterday with the RE agent who told me that there would be no quick money to be made in my area in REI and I should stick to getting licensed to be a RE agent, I am scared that I might live in the only place on earth where this can't be done. I have been fighting off his remarks but it is haunting me.

I live in Bisbee Arizona and Sierra Vista and Benson are close and I hope there is opportunity here as well as in every other place in the USA?

Please help......

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Deb


Where Do I Start

I have absolutely know idea where to start. I'm looking to do my first Real Estate Deal.


how much rent to ask for

Hi Dean,
First time here and very excited to recieve your Book Be a Real Estate Millionaire... I would also like to say I think it is Very Admirable to read the page in the front of the book about your Daughter and her being the Greatest Gift you could ever recieve.It really Stands out what kind of Person you are. . We are a lot alike Eccept your where you want to be and I want to get to that point...
My Question is I have My House here in Front Royal Va , I want to move in with My Girlfriend ( Future Spouse if she Says YES ) and rent out my house
MY Mortgage is $1162 a month now on a $156,000 Loan. Its in good shape but needs some Minor repars before I can rent it.. I am Not sure what to ask for rent ... What would you do in this situation. I may be selling my house as well. I also have well over $90k in Equity that sits in the bank and makes money for them ... It makes me sick to think about it and I want to utilize this for investment properties... A little background I am 46 years old been working for Hewlett Packard for 22 years and feel its time to Branch out because I am not getting anywhere in the IT industry anymore and totally bored with it. Your Book gives me new hope that I want to take advantage of.
I have kids and I am Divorced , My Drive is for my Children and a better way of life that I can Provide for them


Wow Jay!

Dean does not always get a chance to respond but let me just say that it sounds like you are in a great position to really move ahead in leaps and bounds in the real estate investing area!

Unlike myself and many others who are starting off with absolutely no money, no equity and no credit, you should be able to quickly get things moving.

Make sure you read the book as quickly as you can as you will find all the answers in there on what to do. The book has an amazing amount of information and the variety of strategies you can use and combine to work for you in REI is endless. Dean gives real life stories all the way through the book that are so inspiring.

I wish you all the best with your investing and your proposal.... Eye-wink

Welcome aboard!

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Deb


More ways to find Investors???

I have read the book and fast start and do not have any problem understanding and finding great deals ,however I would like to know what are the best tools to use in terms of finding people or entities with the money to invest in the properties as I am not in a position to finance more than I have going ie own my home that I am in now but bought a litlle high , just got laid off and have a rental at a $300 negative cash flow right now and if I sold now on either I would loose $ on current property and breakeven on the rental PLease advise thanks Ron H. OH and p.s. this is the 2nd aff disc i got and both when inserted keep trying to be opened with some form of windows word document when I have already checked and updated most recent downloads of acrobat and can not access the pdf documents on the disc HELP??????


advice on short sales please

I finished Dean's book last week. It is AWESOME! I found a house going up for a short sale. The owner is not behind on his payments yet but just moved to Mexico. He assigned it to a RE agent before he left and told his agent that I was to buy the house and the agent seems sure that I can be the buyer once the bank accepts the offer. This home has not been listed yet so no one knows about it going up for a short sale so there should be no competition.

My question is this. I believe I already have a buyer for the home. However, how do I "lock up" a short sale so that I can sell it for a profit before I ever buy it? Do I need sign a purchase agreement and qualify for the loan before I can "asign" it?
From what I've been reading, a short sale can take up to as much as 7 months to complete...but I have a buyer now. Are there any strategies to assign a short sale that I'm supposedly guaranteed to buy so that I can sell it before I ever buy it?

__________________

"Happiness is he who works and plays and doesn't know the difference!"


ronh

There are several ways to build your database of investors.
1. Attend a local RE Club meeting, they seem to hang out there alot... LOL!

2. Call all the we buy houses guys on craigslist, backpage.com and any small paper like the dandydime, pennysaver, thrifty, shopper, etc.

3. Run a blind ad on any of the free advertisers listed above like:

HANDY MAN SPECIAL
3/2 RANCHER
CHEAP! $20,000 CASH DEAL
CALL ME: xxx-xxxx

This is one I used personally and got tons of responses:

HELP I NEED MORE INVENTORY!
Help, I need more inventory! I can't keep up with the demand of my investors! If you have any properties please email [email protected]_7.com or call Elena: 623-533-3490.

www.webuyhouses24-7.com

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Cool Elena Cool
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."


Hi rebeccascott.

I imagine you could do an assignment on the deal and just get the buyer you have lined up to go ahead with the transaction. I don't know if you would collect your fee now or at the time of closing. Is your buyer willing to wait 7 months if need be? Maybe have a list of "back-ups". (I have not done a short sale, but am throwing an answer out there. Smiling Learning with you. lol)
Veteran "assigners", your 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


answer: rebeccascott.....

yes, you need to "LOCK UP", this deal with a purchase agreement and pre-approval letter, in order for a lender to even consider your offer they want a pre-approval letter, because ALL SHORT SALES are CASH SALES, oh, and another thing- most lenders that do a SHORT SALE will NOT accept a contract with a ASSIGNMENT CLAUSE, YOUR HERO, SULLY.

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YOUR HERO, SULLY


new,very new with serious question

I was contacted very shortly after recieving the book and kit you know the dvd's and booklets well it was from some group called ITS/interactive training and talked me into starting their course. they mae me believe that it was part of Deans people and it cost me 250.00 so far. My point is I now don't think that it is please find out for me and e-mail me please at kinswa@**** thanks


Hi kinswa.

PMI's Interactive Training System (ITS) is, in fact, Dean's coaching/mentorship program. I was worried myself, when I signed up, that it was a scam playing off of Dean's name, but it's not. Some of the coaches actually join us in here on occasion. You're in good hands. Smiling

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


MAYBE 1ST DEAL

I found a house after doing some research and driving around. The seller is selling the house for $109k and it was appraised at 166k. I went inside the house and it needs around 8k in repairs. So, the house has good enough equity on it. So here is my question - I partnered up with a friend of mines because he has good credit and never bought a house. Should I get the house and get a constructional loan and afterwards pull the equity out of the house and rent it out or try to sell in the market we are in now? Or other suggestion?? Please let me know... Thanks

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David David


David

It really depends on what you and your partner want out of the deal. Cash now? A rental? Money for more investments? Have either of you been a landlord before? It's not all it's cracked up to be, believe me!
Figure it out and go from there.

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Cool Elena Cool
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."


hi everyone, i have a couple of questions mybe someone can help

hi there well first off i just finished my first deal im so relieved now,
my questions is as follows
when can i get a home equity line credit on a property i just bought???

i have been in contact witha private lender here in alaska ,she been asking my what i own so for what i plan on looking for
waht are your guys take on private lenders , how do i preasent my self to them ,
just one more point when i was at clossing they made me sighn a sheet saying i didnt borrow the money for the closing ,have you heard of that???

__________________

michael scott sondgeroth

150% determined believe!!! successful most of all have fun!!!!!!!!!

BE A DO,ER NOT A TALKER!!!!!!!!