-
So many of you have been telling us that you're ready to get
started investing, but "you can't find any deals! and what are the
steps and secrets to finding great deals?" Some of you have even
written asking us if there still ARE any deals left... OF COURSE
there are! We find them all the time. But you ain't gonna find them
looking at for-sale ads in the paper, for-sale signs in the yard,
or
-
If you invest in real estate, you need cash to buy houses. Even
if you have a full bank account and great credit, you'll eventually
run short on funds - or short on time to obtain a loan - for the
next deal. Private lending is the answer. It is a bottomless pool
of readily accessible funds: whether you have great credit or poor;
whether you have cash reserves or not.
-
We probably answer this question for someone a couple times
every week. The problem is that they don't have a good formula for
determining the most they can pay and still make a profit – so
they're scared to make any offer. Here's what we use for single
family homes:
-
If everyone always did everything they said they'd do, we'd all
be a lot richer. Unfortunately, tasks are overlooked, and the ball
is often dropped. If you want to have successful closings, you must
have strong "follow-up" skills to catch problems early in the
process. Follow-up on everyone and everything.
-
One of our investor students told us of an interesting probate
deal or "adventure" they're working on now and while it's a good
story, it also illustrates lots of the ins and out of probate or
estate issues and purchases.
-
Q: Hi Lou, I have a property under contract that I want to
resell/flip as-is to a rehabber/renovator, but I may have to
purchase it quickly and simply record the Quit Claim Deed, without
using a closing attorney or waiting for a title exam. I need your
advice.
-
That's an obvious question – we all do! So what is the trick? So
much time and money is spent on systems updates, roofs, and
structural issues, that many times there's nothing left for what
really makes the sale: what your potential buyers see. And more
importantly, what they fall in love with.
-
This info is very important for both new and experienced
wholesalers, AND buyers of fixer-uppers, to carefully read and
understand. We learned it painfully, hopefully you won't have to
:-)
-
So you wanna buy pre-foreclosures? or at the courthouse steps?
So many people ask us about this. Here's our '30 second seminar' on
it. If you're going to buy PRE-foreclosures--after the seller is
behind on her payments, but before the lender's auction date-then
there are some pros and cons to consider.
-
One of the things that distresses us about our industry is the
amount of wrong or incomplete information available to investors.
Some myths block what otherwise would be a great deal, while others
would have you believe that a bad deal is actually great. For
example, we encourage purchasing homes "subject-to" the existing
mortgage as an option to finance the purchase of an investment
property. This means that title to the property is transferred to
the purchaser,
