The Earnest Money Scam – Don’t fall for the trap!
Mar24

The Earnest Money Scam – Don’t fall for the trap!

 This week’s Golden Nugget is something I’ve mentioned before, but I think it would be good to talk about this issue again. It seems to be happening in many markets. It has to do with Earnest Money and Scams. I bring this up because I don’t want anyone to fall into the trap. The trap I don’t want you to fall into is this: You spit out a round of marketing, you get a call, and you go to see the seller and his house. Afterwards, you both agree on a price. You think, I’ve got a deal! This was too easy! What’s the catch? The seller then says they have one condition: you deposit the Earnest Money directly to the seller right then and there. And, the deposit must be made in cash. Well, this is strange? Is it not? So, let me be clear: Do not give them Earnest money! That is for the Title and Escrow Company! These “sellers” are calling Investors and pretending to sell at a great price, but only if the Earnest Money is dropped right then. This is a scam to see how many newbies fall for the trick. Now, I don’t know this for sure, but I bet that if you pulled a Title Report there would be a lot of liens and judgments, and you wouldn’t be able to buy the house anyway. Why else would they be scamming you? Chances are they need the cash, so they scam you for the money. So, if they then say no deal. Let them know that is fine. No deal. Because the money should be deposited with the Title Company, who will issue a Title Report. And if the Title Report says the Title is free and clear, the Earnest Money will then be deposited into the seller’s bank account. No Earnest Money? No Title Report? No...

Read More
Real Dealz 57: In The Trenches – Rehab Project *Update*
Mar20

Real Dealz 57: In The Trenches – Rehab Project *Update*

In episode 57, Tucker takes you back to our large rehab project that we featured in Episode 49.  Tuckers team is about done with demo and is putting everything back together on this house.  Tucker ran into a few challenges with this project, the first being the very cheap siding and sheathing that was all needing to be replaced, the second was the rotted shake roof that the “newer” roof was placed on top of, and the third is having to deal with the neighborhood HOA, which is always fun!  This project will be over budget, however recent sales in the area have been promising and Tucker knows he can make up the additional expenses when its time to sell.  We hope you enjoy this episode and please leave us comments and reviews! Iron Bridge Lending – NMLS 854231 – C-FL 603I808 – OML -5106 (503) 225-0300 Iron Bridge Lending Programs Links: The Deal Finders Academy Iron Bridge Lending Real Dealz Podcast iTunes App Real Dealz Podcast on iTunes The Dirty Truth: Real Stories From The Real Estate Trenches Real Estate Investing Secrets By Tucker Merrihew: Volume 1 Real Estate Investing Secrets By Tucker Merrihew: Volume 2 Real Estate Investing Secrets By Tucker Merrihew: Volume 3 Contact Email: Tucker@TheRealDealzPodcast.com Info@TheRealDealzPodcast.com Thank you for listening to our Podcast and please give us a review on iTunes and feel free to leave a comment below.  Additionally, if you have any questions or would like Tucker to cover a specific Topic, please let us know and we can cover it in a future episode!  Thanks...

Read More
Easy Marketing for your House Flipping Business!
Mar18

Easy Marketing for your House Flipping Business!

Let’s take a look at Internet Marketing and Marketing your business online. More specifically, I want to look at how to use E-mail Marketing in your business. E-mail marketing is great, because it is easy. And, you can set it up, send it out, and hope it generates a lead to your business. So, the question then becomes, who should be the targets of our marketing? I have two suggestions. The first is Realtors. We have a master list that we niched down and we blast e-mails to that list every month or so. We explain who we are and what we can do for their pocket listings. We explain how they may be able to gather double commissions on the deal. The second list is Probate Attorneys. Same idea, except we offer ease of transaction when selling off the estate. Once you have your list, you can plug those names into a management system, like Mail chimp. Blast that out every month and make that connection. It’s easy to do, so a few deals every few years is worth the time and effort. Get at it and get...

Read More
Real Dealz 56: The Best F#@&*$g REI Interview You Have Ever Heard! w/Phillip Vincent
Mar13

Real Dealz 56: The Best F#@&*$g REI Interview You Have Ever Heard! w/Phillip Vincent

http://traffic.libsyn.com/realdealzpodcast/Ep_56_Final_MP3.mp3Podcast: Play in new window | DownloadEpisode 56, starts with Tucker sharing the latest news with his development company, our information products and the DFA.  In the “Market Recap” segment,  Tucker goes over his latest thoughts and what he’s seeing in his market.  In the main topic segment, we continue our DFA member interview series with Phillip Vincent of St. Louis, MO and talk to him about his business, new construction and REI as a whole.  Tucker then ends the Episode with a great success quote.  We hope you enjoy this episode and please leave us comments and reviews!     Episode 56 Segment Notes: Intro/Summary Special Sponsor Segment: Iron Bridge Lending Market Recap: Tuckers local market thoughts Interview: DFA Member Phillip Vincent of St. Louis, MO Transition Music: Various Instrumentals Ending Music: 2 Chainz – Spend It Iron Bridge Lending – NMLS 854231 – C-FL 603I808 – OML -5106 (503) 225-0300 Iron Bridge Lending Programs Links: The Deal Finders Academy Iron Bridge Lending Real Dealz Podcast iTunes App Real Dealz Podcast on iTunes The Dirty Truth: Real Stories From The Real Estate Trenches Real Estate Investing Secrets By Tucker Merrihew: Volume 1 Real Estate Investing Secrets By Tucker Merrihew: Volume 2 Real Estate Investing Secrets By Tucker Merrihew: Volume 3 Contact Email: Tucker@TheRealDealzPodcast.com Info@TheRealDealzPodcast.com Thank you for listening to our Podcast and please give us a review on iTunes and feel free to leave a comment below.  Additionally, if you have any questions or would like Tucker to cover a specific Topic, please let us know and we can cover it in a future episode!  Thanks...

Read More
Don’t Forget to Check for an Oil Tank!
Mar10

Don’t Forget to Check for an Oil Tank!

This isn’t a glamorous topic, but this is one that will save every investor thousands of dollars. Now, as investors, we should be able to walk through a house, inspect everything that we see, and kind of get an idea of what we think needs to be repaired. But, what you can’t see is the underground oil tank (if your market has this issue) and the sewer lines. Now, these are two things you absolutely want to ask about. You need to know if the sewer lines need to be replaced, repaired, and how much that would cost. And, you need to know if the oil tank has been decommissioned and whether or not to get soil samples. I know there is more to the process, but I bring up this quick tip for a reason: there was one time that I didn’t check for an oil tank. I just assumed the tank hadn’t been used in a while, so it must have been decommissioned. Well, I was wrong. And, it cost me about $10,000 in clean-up fees to excavate the front yard. It was an absolute nightmare. So, always be sure you as the seller if there is an oil tank on the property. This way, you won’t suffer a $10,000 lesson. Want More? Click...

Read More