From Brian Gibbons - Resources for Real Estate Investor Newbies

[Brian Gibbons]

Free Resources for Real Estate Investor Newbies

I'll be putting resources here for my real estate investing students

I have many students from BP helping them build a business from the ground up, many of them have never done a real estate deal or are currently renting and are not owners.

 Some of my students have terrible credit and they can not do traditional real estate investing with banks.

I recommend if youre new you get a real estate license but also specialize in solving sellers problems and learn creative financing.

I will post here resources that my students use every day.

 They will help you get started and succeed.

Best of luck to all at BP.

Brian Gibbons

32 years experience in real estate and finance

[Brian Gibbons]

ask these questions

MOTIVATED SELLER - QUESTIONNAIRE CHECKLIST

The following is a list of sample questions you should ask a seller. When talking to a seller, try to ask the questions through the course of a conversation and try not to sound like you are reading from a list.

(Note: You will not ask all of these questions depending on the answers the seller gives and your investing objectives.)

Asking About The Seller And Their Property:

• Can you tell me a little bit about your home? (# of bedrooms, baths, size etc.)

• What do you like most about the home?

• What do you like the least?

• Are there any repairs needed?

• What is your sales price and how did you arrive at it?

• What do you think your house would appraise for in excellent condition?

• What do you think your property could rent for?

• Is your property listed with a real estate agent?

• If you don’t mind me asking, why are you selling?

Asking About The Existing Financing:

• Do you own the house free and clear?

• Do you know if your mortgage loan assumable?

• Would you sell the house for what you owe?

• If not, how much are you looking to get above what you owe? (Subtract that from sales price to get loan balance.)

• How much are the monthly payment on the mortgage?

• Are the payments current?

What Kind Of Deal Can You Get:

• If I paid you all cash and closed quickly, what is the least you could take?

(Follow-up by asking if that is truly the least they would take.)

• Will you consider leasing the property to me with an option to buy if I guarantee the mortgage payments and maintenance?

• Do you have a problem with someone living in the property until I get it sold?

• Would you consider optioning the property to me, if there is absolutely no risk