Just started in REI from Santa Barbara, CA

[Jose Guevarra]

Hello Everyone,

I'm a tech guy/developer who decided to try REI on my free time. I'm currently looking for a mentor in my area and waiting for the next REIA meeting. I'm looking for long term rental rehab/flip properties and wholesale. I have very little in terms of cash but, I'm looking for creative ways to build capital in REI.

[Brian Gibbons]

if you are interested in wholesaling there are SB folks here.

You may want to bird dog for other experienced wholesalers.

Here are some 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 or cost to you?