OfflineHi DG Fam
Just want to keep u posted on 2012 progres, So far im averaging 1 - 2 deals a month. All of them have been through mls reo. I just got one today that the bank is giving me a 30 day inspection period. Now that is what I call a motivated seller 
Never give up. Keep pushing forward, I promise you that it gets so easy after a while
__________________
Just keep pushing forward. Remember its a number game so the more u do the more chances u have
And the wheel keep turning and the money keeps coming. Great job.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
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LOL. THAT IS ABSOLUTELY RIGHT
LOL. THAT IS ABSOLUTELY RIGHT
There was talk of new strategies at The Edge event with REO's I'm interested in what yours is or are you planning to buy & hold?
Moving forward daily will get you to your goals!
"You become what you study" - RTK Rich Dad Poor Dad
http://bulkassets.com
Hi
All these deals have been simultaneous close.. On the same day that I buy the property my buyer is buying it from me
Congrats Mike L!!
Still trying to complete my first deal. I'm trying to do assignments but I'm having trouble getting the closing attorney to understand what I'm trying to do. I have a meeting with her today. Any suggestions?
Hi
If you are trying to do a asignment on a reo foreclosure that will not work. You can only do assignment on for sale by owner. banks are not leeting u do assignments on their contracts. Just do a simultaneous closing that way no one can see your profit amount
So what do I have to do differently to do the double closing instead of assigning it? How do you "buy" the property the first time?
Doin DEALS !
The only difference is that you are buying the property instead of assigning it to the end buyer for a fee... you buy the house, close on the house and on that same day your buyer is buying it from you at the marked up price you gave it to him
You are doing a great job. It is always fun to see students do well and make some money. You are proof that hard word and a good formula will work out. Congrats!!
Roy Voeks
Official RE Coach
But don't you have to record the first sale (yours) and then the one you do to end buyer in other words two separate recordings?
Nunzio
http://www.AlistrealtyNY.com
http://www.Any4closure4me.com
http://www.Houseinpain.com
Yes, No problem at all. your buyer never sees the spread u make
Congrats Mike on your success. With the Double closing how are you showing proof of funding for the 1st sale from the seller to you? I know that if the buyer closes the same day that there are not actual funds that you have to provide but how are you getting around this speedbump.
Dave B
"You miss 100% of the shots you don't take"
Wayne Gretzky
Hi
I always show proof of funds, and I always have to purchase the home with my own funding and not the sellers. I can't use the sellers escrow or funds in Florida
So do have a pre-approval, issuant of loan? Sorry to be nosey, just trying to put two and two together.
Also, how do you handle the seasoning issue? Do you put the property in a land trust in the sellers name and have you be the beneifcary?
I am looking an completing my first double closing and just want to see the details beforehand.
Thanks
Dave B
"You miss 100% of the shots you don't take"
Wayne Gretzky
I have a proof of funds from my bank or you can get one at coastal funding.com
I use a regular as is contract from florida
No seasoning once so ever, you purchase the house and on the same day your buyer is buying it form you.
I will check into the link
Dave B
"You miss 100% of the shots you don't take"
Wayne Gretzky
Way to go on the Due Diligence--
must have been a type-o on the contract, right? haha!
To sum up your discussions above, you close with funds of your own, or you use hard money? Just nosey....
Thank you!
Tina in Las Vegas
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
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This is awesome Mike! I haven't done my first deal yet, but it would be nice to get one off the ground soon! Good luck to you in everything you do! Nice to know it works!
If they were all that nice