25 -1

25 -1

I am just getting started I have read deans book "Be a real Estate Millionare". Since then I have been through this site every day for two months. My prospecting realastate agent ask me if I had 500 thousand in cash when I submitted the 25-1 offer. I founf 25 properties that were atleast 90 days on the market(dom), were a forcloser and under 100k. I made offers from 30-50% lower then the asking on all the propoerties and emailed it. He then asked if I had enough money to cover them if they all got excepted. What do I do?


"The regrets of YESTERDAY are the TWIN thievs that ROB us of the MOMENT!!!

Tell him you have everything covered....

come on this site, tell us about the deal, no full addresses please, and you'll get a buyer

If he persists you tell him

"Listen I understand your apprehension and nervousness but I know what I am doing, have done this before, and if you allow me, will have you at the closing table on a regular basis. I think outside the box and need someone who does the same and I saw that in you. I've got a bunch of buyers practically fighting me for these homes. You have nothing to worry about..."

As you put the offers in, announce them to give any buyer time to contemplate, and make sure you have the comps, taxes and all other pertinent info during your fitst pitch

If he persists, it might be because his broker wants to make sure things are in the standard form, so it might not be him. This is why providing early info on what you might be presenting is important as you may have someone on here wh would want to partner with you.

Hope it helps

Q and A

Hows it going? So here we go. Like I said earlier Iam new to this although, I take this exstemely serious. I have probablly found 400 props with what dean calls a "killer deal" how do i find comps on them. I know I ust have to find houses sold in that location. How or What site do I use and what info on the prop do i compare? Need some advise please . Phil


"The regrets of YESTERDAY are the TWIN thievs that ROB us of the MOMENT!!!

You can try these sites for

You can try these sites for your comps...




You compare the asking price + repairs = xxxx equity

Hope that helps. Good Luck.



"A Winner Never Quit And A Quitter Never Win!"


Typically you will only get about 1 offer accepted, they can use the same check for all the offers.


... Verses: 35 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles; They will run and not grow weary, They will walk and not be faint." Isaiah 40:31 ...

RE 25-1:::::::::::

As I do not have an exstensive "buyers list" right now, where are you sugesting I annouce early info about my offer? Why I made it, what the numbers are, comps, ect.? I dont see others doing the same, mabye Im not going to right forms? So are you talking about me posting them on here? on Deans web site? If not I need to create a buyers list. I will be purchasing the phone company (COA) that Dean's staff recomands. I realy think that should help boost up my buyers list..


"The regrets of YESTERDAY are the TWIN thievs that ROB us of the MOMENT!!!

Buyers list.

Have you tried joining your local RE club or clubs? Flyers at stores, bandit signs, passing out biz cards, local newspapers, craigslist, google search.

I tried something new on craiglist today. I went to "housing wanted" section and targeted people looking for apts or houses to rent. So I presented to them a solution of a lease option, instead of throwing their money to a landlord. Replied to 4 ads and got one positive reply, so I'm researching the FSBO's .

Be creative and good luck.


Are you sure what Dean considers a killer deal ? I don't understand how
you can have 400 of them when you don't know how to comp them ...a property can be listed for what you think is a great price, but you have to by what the same type 3bed/2bath 1200 sq.ft. houses have SOLD for...Zillow will give you an appraisal value, and what sold in the neighborhood & for what, but just make sure it's the same type of house.
Also remember that most banks don't let you assign REOs, they want cash deposits as well as POF when submitting the offer. Some might let wait until the inspection period is complete before you have to come up with the money, but we have only had one agree to that because we had contracts on 2 others pending. This way if the inspections are N/G, you don't have to wait for weeks for a refund, we had 1 bank take 4 or 5 weeks for a refund on a REO that the heating system was N/G & wouldn't renegotiate the price.
Proceed with caution, it's better to make 1 or 2 good deals than several
mediocre ones. This way you look professional with real estate agents, banks, & title companies. Good Luck.


I think Zillow is a great tool for comps. You can get a quick "Zillow" value, then after you've seen the inside of the property and decide you really like it you pull comps. After typing in the address, click the "similar" link and all the comps will come up. You can click on the date to put them in date order and only use what's sold in the last couple of months. They even tell you price per square foot! You throw out the highest and lowest and average the rest to get a dollar per square foot of what you might sell the house for.

Aside from the other websites listed above, you can also use Trulia and Home Gain. They will all be a little different, that's why actual comparatives that have sold speak the best.

Thanks Everyone

Thanks so very much for all of you help.:+) AS I said I am very new I read his book and just started going crazy with it all. About the coment from ("gceriania") had said about the killer deal? Well I know they all cant be. So I will try those sites and get back to you all, thanks agian,phil


"The regrets of YESTERDAY are the TWIN thievs that ROB us of the MOMENT!!!


Zillow is a bit on the upper end for comps. Try cyberhomes.com or homegain.com they will give you a much safer comparable. Hope this helps ya'.


To get something you've NEVER HAD
DO something you've NEVER DONE.

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