Instant Equity

Lavenia, this is an easy one. Instant Equity means that if you purchase the property below what the house is worth (FMV) you have purchased it with built in equity. So, if you turned around and sold it tomorrow, the difference between the purchase price and the FMV is your profit --
Let me know if that's not what you meant.
thanks

hi i think i can help if you were wondering how to do the iee or instant equity exchange i'll let you know how to do it step by step it is like the assignment or properties almost exactly ok you find motivated buyers and then you find motivated sellers lock the property up as you would an assignment but in this case do it for 14 days tell the seller it's only a 14 day risk instead of a six month one as with a realtor so even if you dont get someone to move in the house there only out 14 days but in any event you foucus on those with subprime credit via ads and other stratigies you offer selling to those who couldnt get a regular loan with the bank and if you have a hard time finding those still doing subprime lending go to chase.com look for the region manager in your area and ask for the loan broker who is sending them the most business with subprime in whatever area your in like they said on the conference call because you want to work with a perfesional and im not saying this because this is what they said im saying this because what they said i did exactly and it worked so that's all this is what you do send them through to the broker let him or her get all thier info and assign the property over to them but this is how you get paid one of dean's guys made this invoice ill send it to you or you can get it from the email address that they said on the conference call dealing with iee anywho you give it to the seller have them sign it and when you get it you'll see how simple it is but let them sign it and explain to them that it is at no cost to them it is the title company who pays you at the closing cause before the deal can go through all the invoices have to be paid off and understand this is not written in stone you can send it in two the title company yourself just makesure the seller signs it and the day the buyers close they will send you a check for the difference or the purchase price and the mv of the property hope this helps but look under goggle for hud settlement statment 1 or at the hud site cause they just updated it and study that to help you get a better understanding and whatelse um i think that is about it have any questions let me know

? ask i will answer if i can

sorry it took so long to respond, been having a few difficulties, but nothing to hold me back. All the information that you have given is very helpful.

Thank you
Lavenia

Hi Bexsentico
I am a new student and a buyer of Dean's book. I am just starting out and was just reading all of the different posts. The IEE program really interest me. I am just starting out with no money and my credit is not that great. How can I get more info on this program as well as the forms in which I would be using?

Thanks in advance..

HI bexsentico....you said ask so here I go.......

I am having a hard time finding buyers in my area...I have placed an ad on craigslist and have watched the papers and such for the ads that state "i pay cash for your house" and such....I dont have much cash on hand to do much advertising and there isn't really a club near me that I can go to often or conveniently...they are like 140 miles away....is there anything creative that you might be able to suggest to me??? I love all the help here it is great and thanks in advance! Tracy

When i visit the hud settlement 1 site where exactly am i looking for it has a lot on there and i really want to touch base on what i need to know at the moment which is the agreement that the owner needs to sign and the fee i'm able to charge.

Thank You
Mrs. Anxious
Sareena Saulter
biz.opp.empire@****

I also ment to ask if u can send me that invoice u were speaking about.

Thank You
Mrs.Anxious
Sareena

What are the Instant Equity Exchange contracts needed for the seller and for the buyer? Also how do you assign it to the buyer?

When a property is found that I am interested in, what are some valueble questions to ask a Real Estate Agent when inquiring about property?

Real quick... sorry tired gotta get up in the morning

Angela De Santo:

You could ask how long its been on the market. That tells you how motivated the sellers will be when you throw them an offer. You ask them anything that will help you come up with an offer with your due diligence. You can almost ask them the same thing as if it was a FSBO, and hopefully they have the answers. How old is the roof? Any other offers thus far?? Do a brainstorm, and for practice, call a completely different REA about a house your not interested in. I know this isn't a list of questions, but I hope it gives you an idea.

elias.dunbar:

Here is one contract you need, but it isn't just one set contract... Theres a few that you use in conjunction with each other..

www.deangraziosi.com/ieecontracts

If you go to the contracts forum theres a wealth of contracts that you will need for the IEE. Also you could get better answers for your contract questions It's actually pretty easy to do. It's all signing contracts and using the assign clause. Page 149 of "PROFIT FROM REAL ESTATE RIGHT NOW" Explains it pretty good too.

Ok sleepy... Hope this helps you guys

Knowledge is Power
- Pimpedoutgeese

Thank you very much for the contract. I appreciate the help. God bless you.

I have found a good broker and plenty of motivated buyers but I do not know how to submit a offer to a seller or how I should approach the seller. Can any spell out the steps for making offers and locking up a property? I will appreciate any help.

Don't! Not directly anyway. You can cover more ground if you contact multiple real estate agents and let them know what you are looking for. They already have the relationship with the seller(s) they know how flexible the seller is. They will only send deals your way that fit your profile and because you have the buyers lined up the agents will be thrilled. Use the forms Dean provides and make some money.

I appreciate the help, much love too you! The way people help each other on this site is simply amazing.

Is there any other ways to get sellers? On the I.E.E. conference call Matt spoke about sending out 25 offers without looking at the properties and at least one would bite. Can anyone help me figure what he was talking about and how to do it. I will appreciate any help.

I don't know how your area is, but I find alot of sellers on CL. Again, in my area, FSBO's give you a little more room to make money. Not to say you can't make money through MLS listings. Go to CL or in your newspaper and find what your buyers are looking for. Call them up and get the info that you don't get out of the add. You need to know bed/bath #, sqft, condition of the house/property(how old the roof is, foundation issues, what is the extent of any repairs that are needed), how long the house has been for sale, how firm they are on the asking price, how long they will need to close, if they are still living in the house, if so how long they will need to move out. Remember that these are everyday people, not realtors. Just have a normal conversation with them, be polite and talk. Make sure you tell them exactly what you are doing. You want full disclosure from them so make sure you give full disclosure to them as well. Tell them you are not the end buyer, that there will be two different sale prices, one from them to you and one from you to your buyer, that you will make money on this. And don't forget, before you get off the phone ask them if they already have a new house lined up. If not, there's another buyer for your list right there. When you get the address, go to TotalView web site and look it up. If you don't have a RE agent to work with get one. Get him/her to pull comps on the property in that area to know what it's worth. I think I'm getting ahead of myself you just wanted to know how to find sellers, and I know it's not the kind you're looking for but maybe it'll help. Someone else said to call on properties that you are not interested in to get some practice. I think that's a good idea. Just remember to step out of your comfort zone. That's when we grow and learn. It will be awkward at first, but just stay at it and it will become second nature. Something else to remember is that if you don't ask the question the answer is always no. So go out there and ask those questions, and if more come up I'm sure somebody here can help. Good luck and God bless.

Fear Not,
Jeff