Frequently Asked Questions
My Real Estate Course and proven methods are the best way for a "regular person" to make money in their spare time investing in real estate.
I know, because I am a "regular guy" myself and I really do average over $100/hour doing exactly what I'll show you in my easy-to-follow course. Some of my students who have purchased my courses do even better than that!
I know that not everyone who could benefit from my courses will order them, and that upsets me personally, because I know first-hand from the countless letters, emails, and phone calls from my students how valuable they are.
So I sat up late one night and tried to think up every question someone might have that would keep them from ordering, and I'd like to address them here:
- Do these real estate investing methods really work? How often are the courses updated?
- How reputable is your company?
- Who is Lance Young and what is his level of experience?
- What else do I need to buy besides these courses?
- How much money can I expect to make on my first deal?
- What is a short sale?
- When and how should a short sale be used?
- What kind of earnings are possible with foreclosure auctions?
- What about the potential of bank repossessed homes
- Can I make as much money with probate homes?
- How can I find preforeclosure and probate homes?
- How do I find investors who will buy my investment properties?
- Can I buy a homeowner's house at a deep discount if there is a bank loan?
- Why would a homeowner sell a house to me at such a deep discount?
- Why would a person sell me a probate home at such a deep discount?
- How long does it take to complete a deal?
- What if I can't find an investor to pass the deal to? Will I be obligated to buy the house?
- Are contracts hard to fill out?
- How much money will I have to put into this?
- How many hours a week do I need to invest?
- Are there a lot of people doing this?
- Do I need a real estate license or any experience to do this?
- How long will it take for me to get started once I get the courses?
- Can I really do this in today’s economy?
- What do the courses consist of?
My students and I use these methods every day. We are making
thousands of dollars in profit on each
deal that we do. These methods are time-tested and have proven to be
effective year after year.
Many of my students are quietly building their fortunes with these methods. You can do the same thing. To read some of their success stories, click here to go to the Satisfied Customers & Success Stories page. Real estate foreclosures are growing, which can be your gain!
Every six months, I review the courses and update them so you get the most cutting edge information available on foreclosure and probate investing.
Gateway Investment Properties, Inc. is a registered corporation in the state of Virginia. We have been doing business online since 1997. Our track record speaks for itself. Feel free to check on us!
3. Who is Lance Young and what is his level of experience?
Lance Young has been an active real estate investor since 1987. He started making money in real estate by buying and selling preforeclosure and bank repossessed houses. Later, he started making tremendous profits with probate houses. You can see a record of his recent preforeclosure and probate house profits by visiting the success stories page and scrolling to the bottom.
In 1996 Lance wrote the first of four courses, "How To Buy Preforeclosure Houses For Big Profits". This course became very popular and he then went on to write three more money making real estate courses:
- How To Make Big Money At Foreclosure Auctions
- How To Buy Bank Repossessed Houses For Big Profits
- How To Make Big Money With Probate Houses
All of Lance's courses are constantly updated so you get the latest real estate investing advice available anywhere.
Presently, Lance is a full time real estate investor. Lance makes most of his income using the exact same methods found in the courses.
4. What else do I need to buy besides these courses?
These courses really are 100% complete. You do not need to buy
anything else! When you purchase these courses, you will have
everything you need to get started - all of the steps you need to
follow, sample documents, and even scripts so that you know exactly
what to say when talking to homeowners or banks.
You may also choose the option of personal mentoring, though it is not a required purchase. Many people have found mentoring to be highly effective to help them stay on track, and if you have trouble staying motivated, or if you get stuck, you may consider this. But again, you absolutely do not need to purchase any additional items to be highly successful at this!
5. How much money can I expect to make on my first deal?
Buying preforeclosure and probate houses at 35% to 50% discounts will allow you to make big profits. You can realistically expect profits of $5,000 to $15,000 on each deal. It is not uncommon for first-time investors to make $10,000 or more on their very first deal.
Just ask W. Davis of Philadelphia, PA. He recently made $20,000 on his first preforeclosure deal! Prior to getting my courses, Mr. Davis knew nothing about real estate, yet he was able to make a huge profit by using just one of my methods. Click Here to see how he did it and how many of my students are making huge profits like this!
Short sales are not as common today as they once were. A short sale is when the mortgage lender agrees to accept a payoff amount that is less than what is actually owed on the property. This technique is used with preforeclosure houses that have very little, or no, equity. A short sale makes it possible for you to get a preforeclosure property below the market price.
Years ago, short sales were more common than they are today. However, it's good to know what to do if you run across a deal that may qualify for a short sale. You can sometimes negotiate a short sale if a homeowner owes too much on a mortgage to be able sell to you at a deep discount. My course teaches you, step-by-step, how to negotiate a successful short sale.
I attended a foreclosure auction for a one bedroom condominium in Falls Church, Virginia. To my surprise, I was the only bidder. Not a single person showed up to bid on this property! I bid $1 over the opening bid and purchased a condominium worth $130,000 for only $57,719! I turned right around and flipped the property to an investor for $68,000! Since I only paid $57,719 for the property, I made a fast and easy $10,281 profit.
The investor who bought the property from me was very happy to pay $68,000 for a property worth $130,000. After all, he paid close to half price for it! Now he wants to buy more foreclosure properties from me. Do you think there are a lot of people in every town who would love to get deals this good? You bet there are.
This was a very simple deal that took only two days to complete. I didn't have to come up with a lot of money and I did not need to have any repairs done to the condominium.
I just found a great deal and immediately resold it for a very fast profit. You can do the same exact thing.
You can get absolute steals on homes seized through bank foreclosures. One of my most interesting deals involved a house in Dumfries, Virginia that was owned by a bank. Because the house needed a lot of repairs, the bank was very motivated to sell it at a very deep discount.
When I say the house needed a lot of repairs, I'm not kidding. Once I was inside, I could not believe what I saw. Before the house was foreclosed on, the former homeowner had tried, without a permit, to hand-dig a wine cellar under his house! In case you are not aware, it is illegal and dangerous to dig a big hole under your house! Other than the hole under the living room that was the size of a bathroom, the property was in very good condition.
Before making my offer to the bank I called a local cement company and was surprised to find that it would only cost a few thousand dollars to fill up the hole. Now that I knew how much money would need to be spent on repairs, I checked and found out that the property was worth $130,000. I was now ready to make the bank a very low offer.
I knew that the bank was willing to sell at a big discount, so I decided to make an extra low offer. I offered the bank $21,400 for the house. The bank did not want to deal with filling in the hole with cement and my offer was accepted! That's right, I paid only $21,400 for a townhouse worth $130,000. That's half of what the land was worth!
Now that I had a very good deal, I wanted to minimize my risk. I did not want to do any repairs to the property. As soon as my offer to the bank was accepted, I turned right around and "flipped" the property to an investor for $55,000. I told the investor to call the City of Dumfries and verify what I had been told. He checked and realized that problem amounted to filling a hole with cement. The investor was happy to buy a $130,000 townhouse for only $55,000.
All I did was take a property that I paid
$21,400 for and "flipped" it to a local investor for $55,000. My
profit on this deal was $33,600 .
You can find great real estate foreclosure deals like this in every area of the country. To make good money in real estate, all you need to know is how to find good deals and resell them to other investors. And don't worry, finding investors is covered in detail in the course. The real-life deals you've read are no more complicated than they seem. All I did, in each case, was find a property that I could buy at a deep discount, then quickly resold it for a large profit. Each of my courses will give you easy, step-by-step methods that will teach you how to make big profits with foreclosure real estate -- the exact same way that I'm doing it.
You can make as much money with probate homes as you can with foreclosure homes. Probate homes are one of the best opportunities in real estate investing. To be honest, it is my absolute favorite way to make money in real estate.
A probate home is a home that someone has inherited. Many people who inherit a house would like to sell it quickly so they can get their inheritance money. This is where you step in. You can buy probate homes dirt cheap, then turn around and resell them for large profits. What could be easier?
Earlier this year, I bought a probate townhouse in Annandale, Virginia. Actually, I didn't buy the property, my investor did. I found the probate home and my investor put up all of the money. We agreed to split the profit 50/50.
My investor paid $103,000 for the property. Then we had it painted and carpeted and put it up for sale with a real estate agent. Guess what? It sold in three days for its full value of $159,000! After deducting expenses, my investor and I made a fast and easy $12,240 each!
This deal was not complicated. Anyone could have done it if they had known the right steps to take. With the easy-to-follow steps outlined in my courses, you too will make huge profits in real estate investing.
I'll show you easy ways to find investors. You can have your investor put up all the money on your deals, just like I did with the probate townhouse. When the property sells, you get one-half of the profit without using any of your own money!
If you don't want to partner the deal with an investor, you always have the option of flipping it to him. When flipping a house, all you are doing is quickly reselling it to someone else. This can be done with only $10 of your own money. How to flip houses using only $10 of your own money is covered completely in the course. You also get complete details on easy ways to find investors who will buy as many houses as you can find!
Preforeclosure homes can be found through an online preforeclosure listing service.
Online listing services publish lists of preforeclosure properties in your area. This is a fast and easy way to find preforeclosures. Click here for a free 7 day trial to our online listing service.
If you don't want to subscribe to a foreclosure listing service, and you don't mind doing your own research, you can find preforeclosures listed in a special section of your local online newspapers. The course gives you examples of actual foreclosure notices. The examples show you exactly what to look for online. You will be able to find profitable deals in less than 10 minutes a day by doing free research online. Of course, once you find a good deal you will spend a lot more than ten minutes analyzing it and doing your due diligence to make sure the deal will be profitable.
You also get complete information in the course on how to find hundreds of probate homes in your area. Probate homes are even easier to find than foreclosure homes. You get tried and tested methods for finding them -- quickly and easily.
Finding investors is easy to do. The course teaches you how to find investors before you start looking for good deals. This way, you can quickly flip your pre-foreclosure and probate homes to them. This is a fast and easy way to make huge profits!
One way to find investors is by placing a small, inexpensive ad in your local online newspapers. You will only need to run one ad. Ads are included with the course.
There are many people in every area of the country who would love to buy a house from you at a deep discount. By running one inexpensive ad in the right place, you will have more than enough investors to sell your houses to.
The homeowner must repay the bank loan when the house is sold. This means you will need to find preforeclosure homes that have small bank loans on them. The course shows you a very easy way to do this. In fact, it takes less than 10 minutes a day.
For example, if a house were worth $200,000 and the homeowner only owed the bank $100,000 you would want to contact him/her about buying the house. If the house were worth $200,000 and the homeowner owed $190,000 you would not want to waste your time on it because there is very little equity. The homeowner cannot sell to you at a discount. Always pay close attention to the amount owed against a house so you do not waste precious time!
When investing in preforeclosure homes, you want to find the best deals quickly and easily so you don't spend a lot of time at it. The course teaches you exactly how to do this.
With probate homes, you will find that almost all of them have no mortgages on them. There is nothing owed against the house. Why is this important? It means that the person who has inherited the house can afford to sell it to you very cheaply and still end up with a lot of money. This is just one of many good reasons why probate homes are a great way to earn money in real estate.
There are many reasons why you can get great deals on preforeclosure homes. The two biggest reasons are the amount of time the homeowner has before the foreclosure auction, and the condition that the home is in.
Many homeowners don't decide they need to sell their house until it is too late. By the time the homeowner decides he has a real problem, there just isn't enough time to find a buyer.
Another common reason that homeowners are not able to sell their house is because they have let it get run down. A house that looks run down is very difficult to sell.
Just about all houses subject to bank foreclosures need painting, carpeting and a variety of cosmetic repairs. People who can't keep up their mortgage payments certainly don't have money to keep their house maintained.
99% of all home buyers are looking for a home that they can move into immediately. They do not want to make any repairs. Foreclosure homes are not appealing to them.
Even if the homeowner puts the house up for sale at a discounted price, it often sits on the market for a long, long time.
The course teaches you effective ways to find these types of houses at deep discounts and resell them for large profits.
You can get probate homes at very low prices because many people who inherit them are "don't wanters." Don't wanters are people who are highly motivated to get rid of a house -- even if it means they must sell it for a fraction of its value. Here are just a few reasons why people who inherit houses don't want them:
- The heirs already own a home and cannot afford to maintain another. They are willing to sell the probate house at a low price just to get rid of it quickly.
- The condition of the property. Many probate homes are in need of cosmetic repairs and updating. Most heirs do not want the hassles of making repairs to a house. They would rather sell it right away.
- In most inheritance situations, there is more than one heir involved. Often, one heir wants his money right away. This person puts pressure on the others to sell the house to the first person who comes along.
- The heirs live out of state and regard trying to sell a
property from a long distance as a huge headache.
You can find absolutely great bargains with probate homes. All you must know are the easy steps for finding them and quickly reselling them for large cash profits.
When you sell a contract to another investor, you get your profit very quickly, usually within ten days. This is known as "flipping."
Of course, you always have the option of keeping the property and having it fixed up, then reselling it for full value. Your profit will be much larger because you can get close to full price when selling to home buyers. It takes about three months to complete a deal this way but the extra profit is well worth it.
17. What if I can't find an investor to pass the deal to? Will I be obligated to buy the house?
You would have no obligation to buy the house because the course shows you how easy it is to use a "weasel clause." A weasel clause is a simple one-line sentence that you write into your contract with the homeowner that will legally allow you to back out of it with no obligation.
Don't be afraid of contracts because the course takes all of the mystery out of them. It contains a complete sample contract along with easy-to-follow instructions on how to fill it out. Contracts are much easier to fill out than most people think. Here is what you get:
- How to get FREE local real estate contracts.
- How to fill out a contract with NO legal obligation on your part.
- How to fill out a contract to your advantage.
- How to get real estate agents to help you with your first few contracts -- free of charge!
19. How much money will I have to put into this?
You can secure preforeclosure and probate home deals with a $10 contract deposit. You never have to risk more than $10 on a deal unless you plan on keeping the property.
You need to spend ten hours a week doing this. It can be done in the evenings and on weekends. Of course, if you plan to spend more than ten hours a week at this, you will make even more money because you will have time to find more deals.
No. Very few investors know how to buy and sell preforeclosure and probate homes. Even fewer investors know how to find good houses repossessed through bank foreclosures. The information contained in these courses cannot be found anywhere else.
You do not need a real estate license or any experience. The courses are designed for people with no real estate experience and no knowledge of home foreclosures, probate or real estate investing.
You can get started right away. The courses contain "Fast Start" steps that will get you started as soon as you have finished reading them. The Fast Start steps are designed to help you get started right away so you can find your first deal as quickly as possible. Within days of receiving the courses, you can get busy finding money-making deals.
24. Can I really do this in today’s economy?
Yes you can! In fact, Right now is one of the best times to get started with probate homes and bank foreclosures. With plenty of foreclosures on the market, banks are eager to unload the homes they’ve repossessed – and they’re willing to do so at prices that are below market value. Now is also a fantastic time for probate home deals. Although you can always find probate homes at low prices, in today’s real estate market, probate homes are like hot potatoes. No one wants to hold on to a hot potato – heirs are especially anxious today to unload their probate homes at bargain basement prices.
You get four different courses and two audio CDs. All four courses are available as a package. You get a huge discount and save money when ordering all four courses:
- Course #1: How To Buy Preforeclosure Houses For Big Profits
- Course #2: How To Make Big Money With Probate Houses
- Course #3: How To Make Big Money At Foreclosure Auctions
- Course #4: How To Buy Bank Repossessed Houses For Big Profits
- 2 Audio CDs: Lance Young Answering Questions About Investing in Preforeclosures and Probate Houses
The courses contain the following:
- 350 pages filled with money-making techniques. You get easy to understand, step-by-step instruction that will show you how to make tens of thousands of dollars with foreclosure and probate houses. Each course is easy to read and designed for people with no real estate experience.
- Two audio CDs - Lance Young Answering Questions About Investing in Preforeclosures and Probate Houses. They're not only informative but also a confidence booster!
- Simple methods for finding foreclosure homes and probate houses. These methods are so easy that you can do them on an average of less than 10 minutes a day! You can then quickly resell the houses and make thousands of dollars. This can be done using just $10 of your own money (for a contract deposit).
- Actual sample letters you can mail to homeowners and probate heirs so they will contact you -- ready to sell! You have full rights to use the letters in the course.
- An easy-to-use formula that will allow you to find out if a property will be profitable to you before you buy it -- and how much that profit will be
- A sample of a real estate contract that will show you how easy they are to use. You get complete detailed information about contracts that will make you feel comfortable and confident each time you use one
- Proven methods for finding investors who are ready to buy houses from you as soon as you get them!
- The exact steps to take to make sure you make the maximum amount of profit with each deal.
- Sure-fire ways to tell the best deals from those that spell trouble, so you can concentrate on deals without any hidden hassles.
- "Fast Start" steps that will
get you started right away and give
you everything you need to get you your first, of many highly
profitable real estate deals. The Fast Start
steps are located at the end of the courses. They are easy to follow
and give you step-by step instruction on how to get started right away.
Order now and receive my new report absolutely Free, How To Buy Property Liens For Pennies On The Dollar And Cash Them In For Full Value. It reveals a powerful investment technique that few real estate experts know about. (Imagine buying a $1,000 lien for $150, then cashing it in for the full $1,000! A whopping $850 profit on a $150 investment!)