Indiana-Joe

hope to hear back on your deal and wish you the best and sweet success.

I am looking to do something of this sort of deal next week please advise.
later on your doings and closing..

Thanks for the reply. The deal is still in progress, I will let everyone know how it progresses. Good Luck on you future real estate deals. Believe and Achieve

Hello,

Thanks for stopping by my guest page. Please feel free to leave you question and I can do my best with trying to provide and answer for you. Good luck with real estate investing. Believe and Achieve! - Joe

DEAR,JOE. I WOULD LIKE TO THINK OUTSIDE THE BOX I REALLY WOULD LIKE TO SEE IF I CAN PICK UP A REAL ESTATE PROPERTY,NOW.I TRULY BELIEVE IN DEAN"S PROGRAM THE MAN REALLY DOES HAVE A GOOD HEART.

Thanks for the post. Congratulations on buying Dean's book, it is packed with great information and techniques. Learn as much as you can and make some offers. The more you do the more you will learn and gain confidence. Dean is an inspiration to us all. Believe and Achieve!

A little overwhelmed with all the new info to digest but I'm excited as well as nervous. Need to just take the plunge I think and learn from any mistakes. Any helpful hints on getting started action steps...very much appreciated.\

Congratualtions on getting started. You have made the first step. It is natural to be nervous when looking at any real estate deal. Just run the numbers and a key to remember is always get excited about the numbers of the deal and not to get excited or emotional about a property. Also, spend more time on the DG website and reread Dean's books for the tidbits of information you may have missed the first time through. This will increase your real estate knowledge and knowledge is power. You can do it, go fo it! Good luck on all your deals. Believe and Achieve! - Joe

Hi Joe,
I was wondering if you could shed some light on the subject of assigning a property. When it comes time to have the seller sign the proper documents,do you use an investor disclosure statement & seller's acknowledgment form to insure you get paid at the closing? If not,what form should i use to have my intentions clearly stated to the seller? Any advice you have would greatly be appeciated. I'm eagar to get my investing career off-n-rolling.
Thanks, Robert

Noticed you had a blog in the main page for others to read. I know this is going to sound dumb but I'm trying to blog my own things but don't know how to, wondering if you can le me know where to look or how to since you happen to have blogged already. Thanks, Manny...

Hello Robert,

I believe Dean explains it the best in the Profit From Real Estate Right Now book on pages 260-261. He even has the forms there for reference. Good luck on your deals. Believe and Achieve! - Joe

Hello Manny,

You can start a blog under any of the categories, you choose "more topics" under the "Active Forum topics" on the right side of the webpage. Then choose your topic area section and choose "Post New Forum Topic". I hope this helps. Good luck with REI. Believe and Achieve! - Joe

Hey how are you!

Oh whats an E.D.G.E Attendee?

Hello Real Estate Master,

Dean held a live event in April 2009 called Gain the Edge Event 09 and it was great! For those that attended we have the "Edge Attendee icon". The following link talks about Dean's live 09 Edge event.

https://www.deanenterprisesllc.com/deansevent/

We are looking for to next year's event for more great insight and information. Good luck with REI. Believe and Achieve! - Joe

I am having trouble with my real estate agent and broker they waqnt me to get pre-qualified before they alow me to see more houses. What do I tell them?

Bob

I'm struggling to find buyers, let alone qualified buyers. I have set up an 800 message taking line, advertising in multiple papers, online, posted flyers, put out bandit signs, and handing out business cards. The very few calls I have recieved, just hang up without leaving a message. How are you finding your buyers and do you have any tips for me?

A good real estate agent and / or broker are key to your success. Determine if you can work with them and talk this out. If not try to find a REA that understands your goals and what you desire to do. A good REA can make all the difference. You can contact several companies in yoru agency and inquire which agents work with investors, etc. I hope this helps. Good luck with REI. Believ and Achieve! - Joe

There are several other things you may want to try. These may include:

1. Contact landlords in your area throug hthe for rent signs. Inquire if they may have an intrest in buying additional rnetal property and if so what are they looking for.
2. Determine in the past 6 months which REO, HUD, VA, Auction, etc have sold. Research to see via the assessor in your county who purchased these properties. Then build your list from here
3. Go to area investment club meetings and determine who mis looking for and buying what in yoru area
4. Go to real estate auctionsand network with others

Hope this helps. Good luck with REI. Believe and Achieve! - Joe

Hi Joe, I am in Orlando and we have a lot of bank owned properties here, how could I get some one in one one of these homes without any of my money or credit?

He has already been approved by the bank.

Hello,

I hope all is well in sunny central Florida. You may want to determine your area of interest whether it be Orange county or Osceola county, etc. There are tremendous opportunities not only from foreclosures but also for out of state or even out of country owners in Central Florida.

I know there are a tremendous amount of short term rentals through-out the area that may even be furnished. You may want to try to contact local banks or credit unions in your area and inquire what they have available in their REO inventory. Due to the large number of homes available, they may be willing to deal with you and finance 100% of the deal. I hope this helps. Best of luck on all your deals. Believe and Achieve! - Joe

Thanks Joe.Question do you really think the bank would do 100%financing with bad credit?

Anything is possible, you just sometimes have to ask. Each bank has a different motivation and you may want to try to find a small local bank that is motivated due to the amount of time they have held the REOs or maybe their fiscal year end is coming and they want to move them off their balance sheet before the share holder's meeting, etc. Each bank you approach try to establish a relationship, if you do not do business today does not mean you may not in the future. It can happen, just keep the faith and determination! Good luck on all your future deals! Believe and Achieve! - Joe

great job to both you and stacy keep up the great work best luck and wishes... keep us posted to when you turn to millionairs!!!!!!! you can do it!!!!!!!!!!!1

Thanks for the nice comments. It was a pleasure to be able to share our story. Anyone can do this if you follow Dean's programs and principles. Good luck with your real estate investing. Believe and Achieve! - Joe

Good job on the conference call last night Stay in touch, I did purchase the Edge event package & hope you guys did too. Keep aiming to the top!!!

John A

Hello
My Name is Frank I am from Chicago Il and I Love Real Estate. I just ordered the Home course The Edge and I just can't wait to delve right into it.

I bought Deans books and they are just fantastic.

For those of you who attended his seminar , How has your investment portfolio changed since you have gotten all this powerful material for todays marketing ?

I have some experiance in REI but I made a lot of mistakes and I am still in learning mode.

Thank You
Frank Hernandez Jr
To All Your Success.

It was a pleasure hearing from you and Stacey! Thank you for all you do for us! Continued success..........Lubertha

Thanks for the nice comments. Congratulations on purchasing the Edge event package. It is packed with great information. We are sure you will realize the benefit once you go through the course. We are just as excited to get the home edition to go through it again! Good luck with real estate investing. Believe and Achieve! - Joe

Thanks for the comments. Congratulations on ordering the Edge Home course. The event was packed with great information, tips, strategies and techniques. The event provides great information and ideas that you can put into action today. We really believe Dean's book and the Edge event have changed our lives. Anyone can do this. Good luck on all your future deals. Believe and Achieve! - Joe

Thanks for the nice comments, we appreciate it. I am glad you were able to participate in the call. I know you have a great attitude and the drive to succeed. I enjoy your posts on the DG website and your determination. Keep up all the good work because good things will happen! We look forward to seeing you at next year's live Gain the Edge event. Continued success. Believe and Achieve! - Joe & Stacey

Can You tell me about how does the closing cost work?

I tried to image how it works but it does not make sense...

Thank you and god bless

Gerard Doret

Normally when you complete a deal and close and take possesion of a property, you will close at a title company. The Title Company issues like an insurance policy for your purchase price of the home to ensure you have good title. Conventional closings usually have a down payment for the property, however as the buyer you will have additional closing costs.

These costs are associated with closing on the home. If you use a lender for financing they may have fees for processing the loan, you may also have to pay for a survey of the proeprty, the title company gets a fee for handling the paperwork, lthere could be a fee for local government offices for recording the deed,and a few other miscellaneous items.

When closing on property you should receive a HUD-1 Statement at least 24 hours before the closing to review charges and credits. At closing the title company will go over each item line by line. Good luck with REI. I hope this helps. Believe and Achieve! - Joe

I read a lot of your comments helping out other people and some of the info you gave actually helped me so I would like to thank you....I would also like to let you know I value your opinion and that brings me to the reason why I'm sending you this message....i just finished building my website (teinvestment.weebly.com) and i would love to hear your opinion on it... should i add anythiing? should i taking anything out? should i switch something around? is it understandable?

i would also like to know how to promote my site... all ideas and suggestions are welcome.

the problem i ran into... when i tried to google the keywords on my site it didnt come up... does anyone know how to get your site at the top 5 website on a google search engine or any engine...

My website is Teinvestment.weebly.com

I've been following your success and actually tried contacting a bank on a property that was about to foreclose(1 week from auction date) I was able to speak from representative to representative at the end they wanted me to have a realtor to represent me and the deal was not able to go through it was with ING bank. I didn't let that one discourage me from trying again, what I got out of it was more confidence to keep trying. I was SO out of my comfort zone it was crazy. Well thanks for the encouragement. Hope you guys are blessed with more and more success.

Ron

Thanks for the comments. I tried to take a look at the website and it could not display it. It stated the site was down. There are several services on-line to promote your website through search engines. Just review the cost and advantages of the number of hits you may receive for your website., You can promote your site locally as a bumper sticker on your car or in stores, bulletin boards, business cards, etc. Good luck and continued success. Believe and Achieve! - Joe

Thanks for the great comments and we are glad to help. I am happy to hear you made the contacts and offer with the bank on their REO. Keep up the good work because in no time you will find a bank that is eager to work with you. The bank REO numbers are increasing and a bank's motivation can change daily. So keep the REO Asset manager contacts on your radar, circle back with REO managers each month and before long they may be calling you when they get a REO! Good luck with all your deals! Believe and Achieve! - Joe

Hey Joe, how u doing? I need to grab an investor agreement & and finders fee form between the investor & myself, can you instruct me on where I can get these 2-forms?

Thanks bud 4 everything!
John A.

on Chapter 14 in " BARM "

"Leverage is an asset"

were it says you can offer something to the seller then there's four suggestions listed.

The First one, is that just for the Realtor representing the seller?

I just wanted to send a quick note thanking you for the inspiration I got from listening to you and your wife on Dean's conference call. My wife and I are just beginning this process of becoming real estate investors. We set up our corporation and we’re ready and eager to pursue the next steps. Good luck with all of your future endeavors.

Rob

Hope all is going well. If you take a look at Dean's book "profit from Real state Right Now" on Pages 153-156 it discusses the investment form I believ you are looking for. In regards to a finders fee take a look at page 209 regarding the "birddog fees". The finders fee or "birddog fee" can be whatever you agree when you get a lead or close on a deal. Some investors may offer $500 for every lead they get and close on, while other investors may offer $5 per vacant unlisted homes that people inform them about. The choice is up to you and your finding forces. I hope this helps. Good luck with real estate investing! Believe and Achieve! - Joe

I took a look at Chapter 14 in Dean's book "B.A.R.M." and it stated the following: “submit your offer to purchase, specifying that the real estate agent’s carry all or a portion of their commissions on a note, with an interest rate that is attractive to them.”

In most cases, yes this would be the selling agent that is representing you. You can request that the listing and or the seller agent both offer this but it would be easier if the listing agent was also the selling agent. If you are in a state that allows a real estate agent to have dual agency, by representing both the byer and the seller, this could be an option for you.

You may be able to see how flexible the agents may be as you discuss things with them. I always say ask, you never know until you do. I hope this helps. Good luck on all your deals. Believe and Achieve! - Joe

Thanks for the nice comments. Dean's books and the DG website are packed with great information, tips, strategies and techniques. I am sure you will succeed if you apply Dean's principles and create a plan and work that plan. Good luck on all your deals! Believe and Achieve! - Joe

Thanks Joe you all ways help me out and responded to all of my post...

I am grateful

God Bless

Hey Joe just getting started with Dean's books, half way through the first and I must say that I am pleased with what I'm learning. Taking detailed notes aswell. The area that I reside in is flooded with REO properties. One of my questions is rather it be a FSBO, REO, etc. we are still trying to purchase these properties 30%-50% below market value correct, so you can cash in on the equity at closing, but cashing in on the equity after purchase this is still money that you will owe the bank correct being that they are financing the loan, I guess one option would be once you pull out that equity turn around and quickly do whatever repairs need to be done if any pocket what's remaining, and then rent the property to cover morgage payment, insurance, taxes, etc. and most importantly create a positive cash flow aswell, and finally sell property when market rebounds to hopefully make a large profit. Or turn around sell to a motivated buyer I would profit somewhat considering the equity that's built in, but my sell price would have to be lower than market value to draw in buyers, plus if I was trying to sell at market value I would be in the same boat as the bank holding the note for a long period of time. Actually If I were to pull out all of the equity in a property option one would be the only option that is to rent until market recovers correct. Have found a local website which gives me asking price, address, sq.footage, number of bedrooms and baths for all REO's in the area, all other info is not available unless I join the site. I recorded this info. and will soon start visiting some of these properties just because I'm so curious, and eager to get started. Hope to hear from your soon.

Jeff

Thanks for stopping by my guestbook page. Yes, the key with REOs is get them at least at 50% to 60% under the after repaired fair market value. You may get one for a great price but factor in the improvements (repairs) necessary. The more potential profit margin you have, the better. As you stated the key is to buy them low, fix them up and make sure you have a positive cash flow to cover the entire mortgage and related expenses. In some cases, if you buy a REO low enough and make the repairs you may even end up with more money then the cost of the REO and repairs. This extra pocket money will come in handy for other opportunities. Then as you indicated, when the market has an upswing you would have an option to sell to realize greater profits. I hope this answers your questions. Good luck on all your deals. Believe and Achieve! - Joe

Thanks for your encouragement it means a lot to me. I cherish your posts very highly and I see you as one of my go to guys. Hey I just wanted to say I'm a fellow Hoosier, but I have been transplanted to Colorado for the time being. I'm from the Ft-Wayne area and I am just putting the finishing touches on a lease option in Greenwood, IN. I'm also working on quite a few deals with my property manager in Indianapolis, in the Woodruff park and the Kesler-Meridian neighborhood at Midtown. Indy is a fantastic market and I plan on capitalizing big time. We are also making offers on some MLO's--master lease options- multi-unit complexes that are currently underperforming. Indy is littered with these building types and with MLO's you can literally get theses for pennies on the dollar. Check it out INDY.

Best wishes, and I'll see you on the site.

God bless,
southstar

Thanks for the comments and the information. It is great to hear there are some good deals in Indiana. Thanks for sharing the tips and the information. I hope all is well for you in Colorado, I hear it is a very nice place. Good luck with all your real estate deals. I look forward to reading about your pgress. Believe and Achieve! - Joe

Hey Joe would you please go to my account and read my post where I responded to your last post. My intentions were to post it here, but I just got carried away before I realized what I was doing.

Thanks,

Jeff

I read through the post on your guest book page and I believe I will address each question, if I miss something, let me know.

Each real estate market is a little different, the more potential profit margin on a deal the more options you will have to either assign it, flip it, or buy and hold as a rental. Thus, a key to any market is to get to know the market you want to buy in. Talk to a few realtors and get comps of homes that have sold in the past similar to the REO home you are interested in.

Also, see how long the homes are on the market. Then you may be able to get a feel for your local market. I believe if you can get a home for 50%-60% below the fair market value, it may give you plenty of margin whjen deciding on an exit strategy.

I guess another way to look at it is Purchase price + repairs should always equal less than 75% of the FMV. This may ensure a quick sale or assignment if you list the home below FMV. To get an idea of repairs, you can contact contractors to inquire about costs for windows, roofs, etc. The more information you gather about rehabbing the better idea you will have on after repaired value (ARV).

Your local county assessor may be able to give you an idea of home sale prices in your area. Most assessors record the sales price and date of sale (Sales Disclosure Form).

I have purchased any short sale properties dealing with FSBO's in the pre-foreclosure. However, I know several people on the DG website have had success. I hear you may have to wait a little longer to get an answer from the bank, but sometimes it can be worth the wait.

Lastly, I would suggest try several; items and see what techniques may work best in your area. Then each month try another new one. I still reference Dean's books for ideas to try new strategies. Good luck with real estate investing. Believe and Achieve! - Joe

Hello Joe,
I am a newbie
I am offered two houses that the owner is walking away from
Is it ok to submitt a offer to purchase as short sale using a Trust.
How should I handle this transaction
Please advise
Thanks
Fasons