Concept 10 - Know When to Be A 'Walkaway' Yourself!

The 10 Essential Concepts Behind DeedGrabbing:

Concept 10

Now for something completely different to wrap up the "10 Concepts" series - a downer perhaps? Will you ever be a "walkaway owner" yourself? In some cases, the answer should be yes.

We have a pretty good idea of what we're doing now - when we get some letters out, and some calls going out to owners, we're well on our way to doing deals. It will only be a matter of time until we get a hold of our first walkaway owner who will deed us their property for a token amount, like $100.

If you operate like I do, you'll use the instructions in my DeedGrabber ebook to see if there's a good chance that the property has some equity, and can be resold immediately for a nice profit. Then, you'll see if you can flush out any title problems on your own before acting.

You may choose not to even spend money on a title report.

Why not?

A title report may cost more than you're about to pay for the property, and you're not even sure the owner will follow through and deed you the property until you know the paperwork is back in the mail to you.

When we get deeds to property sight-unseen, with no title report, we are indeed risking our $100 or whatever. But the most important thing in a situation like this is to get the deed handled so we're secured in our position if there's a profit to be made.

You notice I said "if". Though we did our best to keep from making a bonehead deal, we may have miscalculated and purchased "a pig in a poke". We can afford to lose plenty of hundred dollar bills on deals that don't work out, when we can turn around and resell some of the properties for a $10k+ profit.

So what about those properties that turn out to be dogs?

We MUST follow DeedGrabber Essential Concept #10:

"You must be willing to be a walkaway owner yourself".

It's exciting to get your first deed, or any deed for that matter. As long as you haven't tied up any real money in it, you don't stand to lose much, and potentially stand to gain a lot.

But don't throw good money after bad. If you can't resell the property for even a small profit, and a tax deadline is coming up, resist the temptation to bail the property out. Resist the temptation to start working on the property to make it more appealing. If you can't resell, take your lumps and let it go yourself.

In some states, you could even be due an overage check if the property sells for more at the tax sale than was owed in taxes. And you can pick this check up shortly after the sale.

The real damage happens when you try to keep hope alive by bailing out a property from tax sale that didn't sell for a profit beforehand. Or getting in there and fixing it up.

How about all those other owners who lost their property and might be due an overage check? Like I said in an eariler concept, there are second chances in the DeedGrabbing game. And soon I'll show you how to get more huge checks coming in by helping these owners collect their overages, without even dealing with any property at all!

"Foreclosure Happens" - Even to DeedGrabbers! But with only a token amount at risk on our end (for a properly set-up DeedGrabber deal), it's part of the game.
It's also the title of the 40th and final chapter of "Gonzo Investing" by Joe Kaiser. In my opinion, Gonzo is the "Bible" of smart real estate investing. While putting together this 10 Concepts series, I reviewed it for the first time in a number of years.

I was amazed how the information in almost every chapter is now ingrained in my investing - learned from either from my own 'hard knocks' or from the course itself.

Don't miss out on picking it up - I can't offer it again. Get a decade's worth of wisdom for less than $100 here.

Sincerely,


Rick Dawson
The DeedGrabber

Everything You Need to Know to Profit From
Tax Property Before the Sale -

The DeedGrabber Ebook

DeedGrabber Ebook

Yes, I'd like to get the DeedGrabber information NOW!

Choose your version (click one):

Ebook Digital Download: "Go Ahead, Be a DeedGrabber" in digital format for immediate download. Takes you step-by-step through the process of DeedGrabbing, from getting your list of owners, to contacting the owners, what to say to them, and how to research the property for value and title issues before you buy. Then, how to sell the properties you get for big paydays.

DeedGrabber Study Course: Immediate download of the ebook PLUS the ebook in written format shipped to you free by UPS. Additional materials include Legal Forms CD which itself can save you thousands of dollars developing your paperwork. Also includes seminar DVD, Quick Start CD, and Introduction to DeedGrabbing CD with Jackie Lange of CREWealth.com.

 

{ 6 comments… read them below or add one }

Tim April 5, 2012 at 8:35 am

Rick even though I doubt you take the time to look back at what your followers are commenting about I am going to throw my two cents in any way. I like your concepts and read them when I get them, many of your methods I incorporate in my own real estate business. How ever the one thing I cant stand is when you direct us off to some other guru who is charging some rediculous price for the information that you could pass along to your commited few followers with out the huge over head cost. To many of those guys are ripping people off. Tell it like it is Rick and leave the high priced courses to the idiots who think they have to pay for this stuff.

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Rick Dawson April 5, 2012 at 5:56 pm

Tim, I appreciate the confidence in whether I'd reply to your comment or not 😉

As much as I stand by my methods for profiting in real estate with tax sale property, the fact is that it's just not right for some people. Some people are looking for other opportunities that may exist in real estate right now, and I cannot keep on top of all of these opportunities since I choose to focus on tax sales.

I know most of the people I promote personally, and I know that the programs they offer work if directions are followed. So I do not apologize for offering them to my subscribers.

I also do not apologize for offering "high priced" courses that may cost $1000 or more. To me, that is a ridiculously cheap cost to have a chance to start a completely new career. The price of one college class. Do you think people are idiots for spending $40,000 on a college education, only to be unable to find a job?

I don't, as I'm all for college education. But in comparison, $1000 for a course that can give you a great-paying "job" immediately, where you're your own boss? That's nothing.

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Pat July 7, 2012 at 5:53 pm

An honest opinion from Tim however, I disagree. The people (mentors) WE students learn from have at one point (probably more than once) paid for the education they so freely share with us "fans" and budding entrepreneurs. Having been in a teaching role myself, it's hard to stay on top of everything ... and it's great to have others you know-like-trust to refer your faithful readers to.

Rick is most generous and knowledgeable with his trainings. I glean what I can to see if it's what I REALLY am curious/interested in and will pay for more education of value. It's part of the cycle of life! I'm thankful it's not at college tuition levels of $$$!!

THANKS RICK for sharing and offering your courses. I just bought your study course to supplement what we are doing with tax liens and deeds. 🙂

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Rick Dawson July 9, 2012 at 2:42 pm

Thanks, Pat! Some people have a hard time understanding how the whole "teaching" thing works but you've got it down.

I try to tell everyone WHAT to do for free. If someone wants to know exactly how to go about each step, that takes time and I usually make a paid training out of it.

If you saw our Indiana training promos, you saw I gave all the techniques out for free. But if I did trainings for free that wouldn't make much business sense.

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silvino Camacho September 25, 2012 at 2:19 pm

Hey Rick,good morning,
Silvino here in CA, thanks for sharing all this info with us your students. As soon as possible , I ll buy your program . Thanks again.

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Currie Bishop June 25, 2013 at 8:22 pm

I just ordered the E-Book and while lissening to the promo on the additional services/product I lost the connection. tell me what I need to do to complete the order and upgrade to the full package. Thank you.
Currie Bishop

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