How to Attract Investors to Assign to Your Deals

Let's take this thread back to its original subject - i have been having an almost impossible time assigning contracts that are short sales. Is anyone having as much a hard time as I am? Can anyone refer me to title companies/banks that will allow me to assign short sales
Thanks

What are the problems you are running into with assigning a short sale over anyother type of assignment?

The banks that I have spoken to who are trying to get rid of these properties are not allowing assignments of short sales.

You would need to do a double closing instead. There are a ton of threads on this subject. Check them out under the Forums section. You'll find some great advice on how to do a double close and sistreat has a contact with a title company that you can use that will fund your deal and do the closing.

I would like to know under what heading do you place your ad on craigslist

I post craigslist ads on a few different areas.
For attracting buyers I post on "real estate services"
For attracting sellers I post in "real estate wanted"
I also post ads in "real estate jobs" if I am looking for bird dogs.
Hope this helps.
Nick

As Nick has stated, i post in the "Real Estate Services" section also, but another good place to post for buyers is in the "Real Estate For Sale" section too, i have recieved a number of calls from that forum also, SULLY

Thanks for the info on advertising, next question I have is after assighning the property,is there another paper the invester needs to sighn in order for you to get paid.

You and the investor you are assigning the deal to must sign an assignment of contract form. This puts in writing that you will get an "assignment fee" from the investor to whom you are assigning.

I just posted an ad in craigslist and I literally got a response in 5 minutes. This website and these posts are such incredible tools. I’m happy I brought the book and I am grateful to be a part of the DG community.

I to am new at this and looking for any information that will help me take my first step, there are alot of properties i have checked out. Just to see what is out there and what i must need to get started. Any and all tips wanted.

I just want to say that this forum turned out to be extremely informative! I absolutely love the info I read by cbr and freeindeed and others. WOW! I'm begining to see a light at the end of the tunnel. I hope that's a good thing.

Thank you so much for sharing that information with us, guys (and gals.)
Love ya.
____________________________________

Michael B

Hello DG Family,

I am a Newbie here. I am anxiously waiting on Dean's book "Be A Real Estate Millionaire" to arrive, while I'm waiting I have been reading alot of the forums and other info on this website. All very helpful info and thank you all. My question here is, What can I be doing to help myself while I wait on my book to arrive?

Thank you,
cat c

all this infornation ahave been really helpfull. thank you all....God bless

Quick question: I have a couple of clients who would like to make cash offers on wholesale properties (preferably SFH) if the price is below 60% of the current ARV (50% if there are major repairs necessary). Does any of you know of any properties in your area or anywhere else?

Also, if you know of anybody who needs a loan on a property ... under the right circumstances they are interested in that, too.

I wish you and your family a very Merry Christmas!

Best regards,
Conny Wolfram
(727) 394-4986 office
(727) PIC-1514 cell

When you guy's are running these ads and posting on Craigs List etc..... Are you pointing these potential buyer's to a Business phone number or a voice mail box or your personal cell phone ?
I am just beginning this adventure and don't have the funds for a business line or a voice mail company.

Have a great day DG Family

Dennis..

I give my personal cell which allot of people would say not to do. I have allot of rollover minutes and they are going quickly. Sometimes I forward my cell calls to my house phone if I am home.

I don't have the funds for a separate phone line either so this works out for me.

In many ads i do not give a phone # just my email.

I finally got my book on Monday the 29th (it was supposed to be delivered on the 22nd, wrong address - by one word), called the Academy,got an answer back
(I'm really surprised)and was told to get on this web site and dig in for
all I can find. Also got told exactly what chapters of the book are best for
me to focus on......asked me questions, knew exactly where I am at!

As soon as I finished listening to Dean's 12/30/08 conference call replay,
jumped into blog and got an answer to some ideas to find investors.

I am blown away. I've tried all the other guys, Dean is serious and wants
to help everyone who is willing to receive the help.

Thanks everyone, I'm determined and now extremely encouraged to pursue my
dreams, not give up and really know I can do this.

Gayle in Shelton,Connecticut

Once the investors call back, what questions do you ask them? I am starting a list spreadsheet and woudl like to have an idea of what to ask as far as thier needs?

Hello I as well just got finished reading the book and am very excited as well as anxious to get started. I already have an LLC company and have for a while now I have done real estate before but was on the lending side of it and am ready to do other things espically with the econmy the way it is. I think I understand the basics of the assinment or I guess I should say I thought I did but my question now is once I find the property and agree on the price ok here is an example

Property sale is 120,000 worth 160,000 I offer 135,500 seller excepts I then find an investor Now here is my question do I inform the investor that I am selling for 135,000 in order to get my 15,000 I believe I do but I just want to make sure. Can you please help me with this question I have found this website discussions to be very helpful.. Thank You N Advance.

I really find the information that you post informative, and for this very reason i wanted to find out from you how soon after purchasing DG course did you start your transactions.

I have completed a few parts of the course (starting with Real Estate Basics - Overview, then i took a course called Assignment of Contracts and now i am reading a section titled Real Estate What to Look For?, all in the DG Real Estate Course). However, i wanted to find out at what point YOU felt ready to get out there, get interested buyers lined up, find their goods and deliver.

Also, the deals that you are working on, that you indicated were still in the process mode, were they deals in which you used an assignment of contract?

In your experience, do you feel that there is more success in pursuing "wholesale" type buyers, or do you feel that seeking “retail” buyers is a more successful route?

I am really starting to loose some steam and confidence with all of this, an I just need to know how someone in my situation can make this work for me. I don’t have my own $, so I need to find ways of generating some $ before I can pursue my own investments, I don’t have any RE knowledge, other than my experience purchasing my own home, and I don’t have a pool of people I am frequent with to aggressively network my new found interest. Am I chasing something that will be extremely difficult to be successful in?

Need your uplift!

Mati

Madison,

I too am new to the game. Please let me know how you got started, what parts of DG course you took before getting out there to contact buyers/sellers, what stategies did you use (what websites, what ads, what dialog script over the phone, etc).

What happened after you posted the ads and got the properties, what steps followed from there?

Please let me know if you used an assignment of contract when passing a property from a seller to the end buyer, or were these properties that you purchased and then sold?

What tips and tricks can you share with me that are going to help me feel that this entire program really does work?

Thank you so much.

mati

You could state the Sale price of the property, Then Add your Assignment Fee of $15,000, Shown like this: Property Cost: $120,000
Assignment Fee: $15,000
Total: $135,000

Or you Could just state the "Total" price of the property with your Assignment Fee already Included, Like this: Property Cost: $135,000
Assignment Fee: Included!

I personally use the second route, cause it takes the attention off of how much your making, which MOST Investors dont really care anyway, But I think it works better, SULLY

Ok my next question is this after i find the property and i've done all my research
do i need to make sure that my offer covers the amt left on the mortgage? what if they owe more than what I'm offering. they are responsible for bringing that to the closing right? just wondering I think thats my biggest question i have i havent been able to find the answer to that on here.

also on the hud will it be listed as an assignnent fee if they have a problem with that how do i go around it? i understand the double closings but just wondering on the way it is listed.

i think i need more clarification on the 2nd option of stating the price r u saying basically roll my fee in there and the title will already know what to do with that extra 15,000? so basically its this.

1st contract 120,000
assignment contract is 135,000
and thats how i get my profit

You all make this sound so easy...

I can't wait to score the deal that will put me in the $M club.

Dear Cat,

I have just recently purchased and received the course and i have only completed two parts of the course and am still plugging away. I can't wait to actually get going with making some deals, but i am in question as to how much information i should have under my belt before i venture into deep waters. Do i need to complete the entire course first, then get out there, or can i just get some basic knowlede, use the advise of both the DG experts and those in this forum and work things out as they come about using these two resources. Have you had any deals yet?

Mati

1st I want to thank all of you for your incite!!!

Now I have a very unique situation and I have a question.

I have a friend who is very near having his home forclosed on. With the incite of "THINKING CREATIVELY" I think I may be able to help him. He has about $150,000 in equity in his home and his bank won't refinance because the house has depreciated in value and his mortgage now is worth more that what the home is currently worth.

Could I buy (or lock in on contract) his property for his outstanding mortgage and sell (or assign the contract) it back to him for a small profit? That way he doesn't have his credit ruined and he can get a new mortgage at these historically low fixed rates.

Let me know what you guys think.

I really find the information that you post informative, and for this very reason i wanted to find out from you how soon after purchasing DG course did you start your transactions.

I have completed a few parts of the course (starting with Real Estate Basics - Overview, then i took a course called Assignment of Contracts and now i am reading a section titled Real Estate What to Look For?, all in the DG Real Estate Course). However, i wanted to find out at what point YOU felt ready to get out there, get interested buyers lined up, find their goods and deliver.

Also, the deals that you are working on, that you indicated were still in the process mode, were they deals in which you used an assignment of contract?

In your experience, do you feel that there is more success in pursuing "wholesale" type buyers, or do you feel that seeking “retail” buyers is a more successful route?

I am really starting to loose some steam and confidence with all of this, an I just need to know how someone in my situation can make this work for me. I don’t have my own $, so I need to find ways of generating some $ before I can pursue my own investments, I don’t have any RE knowledge, other than my experience purchasing my own home, and I don’t have a pool of people I am frequent with to aggressively network my new found interest. Am I chasing something that will be extremely difficult to be successful in?

Need your uplift!

Mati

Hi Freeindeed,
Since I’ve no credit, no money and no idea how to start I was thinking what you explain to Madison will be an easy way to start building some cash to invest, but it’s not that easy as you explained above. It maybe sound weir but I haven’t found in my local paper anybody with a classified saying:…” We Buy Houses for Cash”… or anything like it, searching the web I find out that Finder’s Fee are only paid to Licensed Realtor's otherwise it’s illegal in almost every estate, besides all of this an Investor in Real Estate it’s always at a look out for properties, so what make you think they need us to find deals. I don’t want to sound negative but it’s not as easy as people say or thinks. I’m trying to get into this business but I just don’t know how so I’m open for any suggestion from you or anybody else.
Sincerely,
Federico
Trying to break the ice