The Easy, No Risk Way To Invest In Real Estate, Plus The Story Of The $2000 Dinner
June 13, 2008
A lot of people assume in order to make money investing in real estate, you need credit, cash, a license, and years of experience. However, in this video for Free Question Friday, I’m going to show you there’s a no risk, easy approach, plus I’m going to reveal…
The Story of The $2,000 Dinner!
Best of all- there’s nothing for sale in this video - 100% content!
Now, there really was a $2,000 Dinner as well as an easy approach to invest in real estate - you’ll see it all in this video. Once you finish the video, the form for you to use is downloadable below the video (Just right click and choose Save As to save to your computer).
I’d love to hear your comments on the video, so post them below once the video is complete and share by clicking the ‘Share This Button’ below the video.
Download The Option Agreement by Right Clicking Here
I’m still alive
June 6, 2008
As you can see, it’s been a few weeks since my last post.
It’s been extremely busy here with kids getting out of school, planning a vacation, and running multiple businesses…
Let’s get back on track with this week’s Free question:
I missed my opportunity in California in 1998, it is now 2008, and I
don’t want to miss it again. I’m looking at buying your
pre-foreclosure coarse, but I want to ask you a couple of questions
first.
1)I know this will work anywhere, but the California market appears
to be a different animal. My question is, will your program work for
California. The reason I ask that is some gurus give great advice,
but it is only for their specific market.
2) Maybe your coarse will cover this but I would like to know first
if this is OK how in the world do you get the loan current on a
preforeclosure, without using your own money?Derek, if you ever come to California I will take you to see the
Clippers, naw just kidding, the Lakers I mean. We also could catch a
baseball game( wherever) my treat just to pick your brain a bit
First, understand the market is just making a correction. You know 10 years ago, people were wondering if they could still make money in the California market as prices continued to soar. Some sat on the sidelines and just wondered…
And some made money, but investors had a different complaint 10 years ago. The complaint was that they couldn’t find the deals.
Now, people are lining up ready to hand the deed over just to get out from under the deal. And, now people complain they can’t sell the deal.
Let’s look at my market - good ole’ Alabama…
Different market entirely - It never really took off like some of the bigger markets, and investors here would complain that they couldn’t make money because of lack of appreciation.
People will always wonder, always complain but the only people that really make any money at all are the ones that stop wondering and start doing.
Let me ask you this - do you think there’s no one making money in California investing in Real Estate?
Someone’s buying deals left and right and I’d almost be willing to bet there’s a significantly lesser amount of competition.
Play it smart but get going.
On to question #2:
I have buyer’s lined up ready and willing to invest in the deal before I ever talk to a seller.
They know if I call, then they’d better get off their ass and look at the deal. I’ll use their funds with a double close or to catch the payments up if I’m in a time crunch.
When you already have a backend (a buyer) then you’ve just got to focus on finding good solid deals that meet their criteria.
Lastly, I’d love the Lakers game, but you’ll probably never see me in California cause I hate flying.
I’ve flown several times with each time hating it a little more. I believe it has something to do with the lack of control.
Gotta go -
Derek
PS -By the way, this next week celebrates my 8 year wedding anniversary!
Holy Smokes - it’s done!
May 2, 2008
After my web guy and myself worked on the site, it’s finally done - the wordpress upgrade. This really has nothing to do with real estate except for the fact that wordpress is a great blogging tool and can help connect you with other real estate investors and sellers.
In this business, personality sells. People will deed their house over to you because they like and trust you. In every marketing piece that I send out, there’s always my personality and my own personal story.
This allows people to connect with you and you can build rapport really fast.
And a blog mixed with a little of your personality, add a few pics and videos, and throw in some real world tips helps create an unshakeable bond with your seller.
So…
Wordpress - great blogging tool, but I was having some problems this week in the admin dashboard, so upgraded and disabled a few things on the site that I wasn’t utilizing as much as I’d planned - (yes the photos are gone for the time being) I may bring the photos back if enough people want me to post pics, but I found people really didn’t care how many deals I was doing, how much money I made - they just wanted to know how they could get into this real estate game for themselves.
So, the site looks a little different with the new home page, but you can view all of my articles just like before by clicking on the ‘blog’ tab.
Take care and talk soon…
Derek
Chasing Vacants
April 29, 2008
Today, a new report has surfaced claiming Homes facing foreclosure more than doubled in the 1st quarter from 2007.
And yesterday, new data was released that shows Homeowner Vacancies are at an all time high at 18.6 million homes.
Now in most cases, homeowners that have vacated a property have given up - they’ve lost the emotional attachment to the home which means you’re already 1 step ahead.
For many of these owners, they’re happy for you to take the deal off your hands.
In some instances, when the owner is still living in the house, they’re still attached emotionally. They’re not thinking logically about what would be the best move for them financially. For those, they’re still thinking about the mark’s little Johnny made on the wall, and about having family functions - you know the memories…
And for many, this blocks them from making the right call.
But for vacants, typically the homeowers are stoked to get your letter or phone call.
One reason I love using direct mail is not just for the fact to get phone calls, it’s also to see which letters come back so I’ll know which deals are vacant. And then, these deals become high on my priority…
Even if the deal is tight or upside down, I can still do a short sale and make the deal work.
So, it’s time to get hip on how to effectively chase the vacant in preforeclosure.
And that’s exactly what I hand you with my Preforeclosure Mastery system - now’s the time to get a systemized approach to take advantage of all the opportunities going on all around you.
Later
Derek Pierce
Owner Wants Out - Big Deal?
April 25, 2008
Howdy…
It’s Friday and I’m taking the afternoon off, but first I owe you this week’s Free Question Friday - right?
I received several questions this week, but the one I received this morning made my blood boil…
Here’s the question:
Message: Hi Derick!!! Hope everything is going fine with you!!! My
question is I have a home ownwer who is 1 payment behind has a very
nice home wants to short sale Don’t know what year was purchased but
it was for 55,000 owes 196,000 in a good market would probably bring
this is a guess but I figure around 225,000+ has made alot of up
dates even added on a work shop. 5 beds 2.5 baths is upside down in
his morgage. Do I need comps to make a sensible offer or would you
shoot from the hip? Small town Iowa. I have a network of all cash
Investors Owner wants to sell Now!!! Any help would be
appreciated!!!! Thanks .
First thing to address - you mispelled my name,
Second, the numbers…
If they owe $196K and the deal is worth $225K, then the homeowner isn’t upside down. They have a very little amount of equity but they’re not upside down and the only way to do this deal is a short sale or having a buyer already lined up.
Third, how in the world do you know it’s worth anywhere near $225K if you haven’t pulled comps?
This is one of the first things you do to get an accurate number on what the house is worth.
NO! -You never shoot from the hip unless you like losing your shirt and money. And if you’ve read any of my courses, my articles, or seen any of my videos, then you already know I’m extremely passionate about knowing exactly what is going on in your market and being aware of what houses are worth.
So, don’t make me come to the small town in Iowa and get medieval…
Look at what houses have sold for in this neighborhood in the last 3-6 months, look at what’s currently on the market, then compare your deal to those houses.
How does the deal stack up?
What’s unique about this deal?
- More Square footage for the money?
- Cheaper than other houses?
- More features?
What makes this house appealing over the other homes for sale?
Finally, look at the DOM - days on market to see the average holding time to sell.
Again - NEVER shoot from the hip…
And my response to…
“Owner Wants To Sell NOW!!!!”
Big deal? There’s so many of these deals that you shouldn’t let them put pressure on you to buy a bad deal. After all, the woods are full of these deals.
Get accurate comps, get clear on the numbers, make a short sale offer that will make the deal profitable for you, because it’s all about turning a profit!
Forget the Miss America answer about helping people. Just forget about it. It’s about making a profit, making money, and if it ain’t gonna work, then don’t do the deal.
Finally, you need to be willing to invest in your education. I’ve laid out all my years of investing in an easy to read how to course on preforeclosures that I highly recommend. Click Here for more
Take care and see you next week…
DP
