2K Dinner Questions

Happy Independence Day!

I hope you’re enjoying financial independence and if not - I hope you’re making the arrangements today to celebrate your own Financial Independence in the near future.

I made the mistake of posting the $2K Dinner Video just before leaving for Orlando on a 9 day vacation. I say it was a mistake because I only looked at the computer but two times the entire time I was gone and couldn’t answer some of the questions you had.

Anyway, I’ll try to answer the questions in this post.

First, in case you missed the video, here it is again:

The $2K Dinner Video

Your questions:

“Where is Swampers Studios?”

There’s no such thing - it was intended to be a joke because I confessed in a previous video that I had no idea what the hell the Swampers were, here’s the other video:

Drive Video

you never showed how you assign the deal, weather it was a deed or an option you got from the homeowner.

Plus you didn’t mention that these techniques will only work with homeowners who owe far less than what there home is worth, or you’ll never find a motivated buyer to assign them too.

Unfortunately, in todays market I think there is a much more abundance of homeowners who owe more that what there house is worth

1st - yes I did show how I did the deal. I used a warranty deed to take over the home, then resold the property to another investor in my market that I saw at dinner netting me a little over $2K. Remember, I didn’t want this deal because there wasn’t a lot of equity, however the investor I flipped it to, was happy.

Just because the deal may be tight for you doesn’t mean there isn’t someone else that’d be happy with that same deal.

I’ve seen deals that I wouldn’t touch that other investors are totally stoked to get. That’s why it’s important to build a list of buyers. There’s 3 different list of buyers you can target:

- A list of investors ( one of the easiest to find, focused strictly on the numbers )
- A list of A credit buyers looking for homes to live in ( focused on falling in love with the home - looking for a pretty house )
- A list of buyers looking for houses with credit challenges with a money to put down ( need flexible financing )

Finally- yes there are more deals where the homeowner owes more than the home is worth, however there’s still deals (remember - this is a numbers game!)

And what are you doing with the deals where homeowners owe more than the home is worth but are willing to deal?

Are you not pursuing short sales for these deals?
I’ll tell you what - Send me those deals and I’ll do ‘em.

Banks don’t want houses, so they’ll discount. So, lets say you send in 5 short sale offers - will you get every deal?

Probably not, but what if you get 1 or 2?

Remember - it’s a numbers game!

Who’s the chick in the film?

That’s my new girlfriend…
Just kidding - I have no clue.

What about investing in California

I feel there’s still money to be made in the California market, however investors should be crystal clear on the numbers. I like Kiyosaki’s outlook in these videos:

Rich Dad Video on the California market

Most “short sales” are failing, because the bank “loss mitigators” are not responding before the auction date and the property is foreclosed. If you can negotiate with a loss mitigator before the auction date and reach agreement, then you can “double close” with your buyer.

This continues to be a challenge, that’s why I highly recommend marketing to obtain pre-preforeclosure leads, so that you’re able to get the lead before anyone else knows there’s a problem and so you’re given enough time to negotiate, then sell the deal.

Gotta go and get ready to bbq and blow up some stuff.

Have a safe 4th

Derek