11/03/2009 -- This is the beginning of my journal entries. I purchased Dean's books in October 2009 and I have been reading them and the remarks in the forums to learn as much as possible.
Administrative Actions Taken:
1) Created flyers to attract real estate agents and loan officers.
2) Reviewed Dean's contracts and learned which contracts should be used for specific deal types.
3) Concentrated on the assignment contract deals in Dean's books and the forums to gain a knowledge base to be able to make a deal with the seller.
Administrative Actions Needed:
1) Interview Realtors, loan officers, home inspectors and appraisers and determine fees.
2) Contact and interview real estate attorneys/prepaid attorney and determine fees.
3) Contact and create end buyers (investors) list
4) Create web site.
5) Learn the formula to determine profit margin for purchase and assignment to end buyer.
DEAL ACTIONS TO BE TAKEN:
1) Search for FSBO properties and motivated sellers.
2) Get realtor to search MLS for properties listed below FMV, motivated sellers and get realtor to prepare CMAs on at least 20 properties.
3) Make appointments to see properties and talk to sellers (if possible) and be prepared to lock up property with purchase contract and disclosure statement.
4) Once seller accepts purchase contract, contact end buyer and effectuate the assignment contract and confidentiality agreement prior to releasing any information about the sale property.
5) Get paid from the assignment buyer at the time the assignment contract is effectuated. FIRST DEAL DONE!
1) Complete all administrative actions (except create website) by COB November 14, 2009.
2) Complete all property searches and obtain the CMAs on at least 20 properties by COB November 21, 2009.
3) Make appointments with sellers and view properties and lock up property with contract on at least one property by COB November 30, 2009.
4) Once seller accepts purchase contract, contact cash assignment buyer to effectuate the assignment contract and the confidentiality agreement before releasing any property information to the assignment buyer. Get paid. FIRST DEAL COMPLETED!!
Verna (newage 8767)
Always striving to move forward toward better times!