FAQs

Q: How does your program work?

In a Nutshell: FarBelowMarket.com is dedicated to finding other investors incredible deals, as well as teaching them how to find their own deals.

There are two ways to get a deal with us. All Cindy and I do full time is hunt for deals. When we make a low offer to a bank or highly motivated seller and they accept our offer in writing, we now have a deal!

We then basically “hand over” the deal to one of our investors for a modest “assignment” or “finder’s fee”. This amount depends on how deep the discount is but our investors get deals from 65 cents on the dollar and less including all fees.

After we secure the deal, we then post the property to our website and offer it to our investors. The first qualified buyer that indicates interest by emailing or faxing a copy of a check to us has the first right of refusal. We then sign a purchase agreement and that buyer has 72 hours to check the property out and may back out of the deal for any reason whatsoever during the initial 72 hour period. To read more detailed policy and procedures for this please see Buying a “Show Me The Deals” property Policies and Procedures below.

The second way we can help you find your deal of the century is by conducting a custom search just for you! If you want a specific property (i.e. condo on a golf course in a certain subdivision or a 3/2 by a good school) then our Team Members can still help you by finding you the lowest priced properties and bank owned foreclosures in the area. The good news is that you can often use conventional bank loans for these properties. Our representatives are also top notch at negotiating the price down on your behalf. The best part?...this service is free to you because the seller's side of the transaction pays our representative’s commission. If you need more information about how our custom search works, please send an email to CustomDeals@FarBelowMarket.com. We will usually respond within one business day.

Do I need all cash?

You do not have to have all cash to be a qualified buyer with FarBelowMarket.com because we do have hard money available (private money lent by individual lenders). However, when we get a deal, they go quickly and we need to know our buyers are serious. Consequently, it is necessary to pre qualify with us- the good news is that credit is not usually an issue to qualify for hard money.

To qualify for hard money we do need to know that you have two things: 1) the ability and the resources to fix up the property in a timely manner, and 2) at least $20,000 that you can contribute to the deal (this could be more or less depending on the deal).

If you are not “all cash”, you must qualify with Real Property Lenders.  Real Property Lenders is NOT a conventional bank lender.  Rather, they are a group of private investors.  This does not mean that you have to use RPL as your actual lender, but you will need to qualify with them in order to buy a property with us.

You can apply now by filling out an application at http://www.californiahardmoneyloans4you.com.
 

You can contact Real Property Lenders by calling Rod Jarmin at 805-237-6207.

Once you submit your information you will be qualified and receive your official FarBelowMarket buyer’s ID number. You will need to submit this number to identify yourself when buying any of our deals.


“I am buying all cash”

Great news! …if you have all cash and provide proof of funds you can be instantly qualified!

All you have to do is email your proof of funds to pof@FarBelowMarket.com or fax it to 760-687-7401 along with your contact information (name and phone number is fine). Simply send a copy of a bank statement or letter from your financial institution CROSS OUT ANY SENSITIVE INFORMATION such as your account numbers, social security numbers, credit card numbers, etc. All lines are secure and we keep all documents ABSOLUTELY confidential. The statement must be no older than 60 days. Our investment rep will be in touch with you within one business day, and you will not have to qualify again with us. You will receive your own personal reference number to use whenever you make an offer to buy one of our deals. Once again, all lines are secure and we keep all documents ABSOLUTELY confidential.

Sooo…exactly how do I buy one of your investment deals once I qualify?

If you are looking for an investment property that you can flip for profit or rent for positive cash flow, then you want to keep your eyes peeled on the “Show Me The Deals” page of our website. Cindy and I regularly get deals from 45 cents on the dollar on up to 65 cents. (we’ll occasionally go up to 70 cents if the property is in a highly sought after area and needs little to no work).

If you REALLY don’t want to be left behind everyone else then don’t wait another second, make sure you are signed up on our home page “www.FarBelowMarket.com” and you will receive an email every time we get a new deal.

Buying a featured “Show Me The Deals” Property Policies and Procedures:

1. The price is not negotiable so please don’t even ask. We could mark these deals up much higher and still sell them within a day but we purposely keep them at “no calculator” prices. We could also bid buyers against each and make more money but we don’t do that either.

2. You must qualify before you can submit your offer unless you have already purchased a property from us. You only have to qualify once. If you are a cash buyer, you must first submit a proof of funds statement (usually a bank statement with all sensitive information crossed out). We also accept a copy of a cashier’s check for at least the amount required to purchase the property or a letter from your financial institution. If you are looking for hard money funding, you will need to demonstrate that you have the resources necessary to fix up the property plus you will usually need to put at least part of the purchase price into escrow…this amount varies depending on what value Real Property Lenders determine the property to be along with how much work it will take to rehab the property. Fill out an application now at http://www.californiahardmoneyloans4you.com
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(we realize if you qualify in advance you won't know the price of the investment deal, so we need proof of a minimum of $90,000 to start with since some of our properties are actually below $100,000.  If you offer on a deal we may ask for proof of funds for the difference if the deal is over that amount.

3. Once you are “qualified” status, you may put offers in for our properties. Properties are sold on a first come, first served basis. For this reason, we strongly recommend that you qualify in advance. When we “go live” with the property, the first potential buyer to fax or email a copy of a $10,000 deposit check will be first in line. A copy of a personal check for $10,000 is fine. Checks are made payable to "Wholesale Real Estate Academy, Inc."  The potential buyer will also immediately sign a purchase agreement with FarBelowMarket. The buyer then has 72 hours to perform due diligence and back out for any reason whatsoever. At the end of 72 hours, an actual $10,000 non-refundable deposit must be sent over night or wired. The buyer then has another 10 days to close, or as long as it takes Real Property Lenders to fund if using hard money. We reserve the right to accept an “all cash” buyer ahead of a “hard money” buyer especially in the event of a shortened escrow.

4. If the potential buyer decides not to proceed with the purchase, then we will simply move to the next position in line.

5. We will mark the exact time that the (copy of) the deposit checks are faxed or emailed to us, and we will strictly follow “first come first served” based on when these copies are received.

I want a bargain property for my Personal Use (new home, second property, etc.)

Your objective will have a lot to do with how we can be of service to you in your treasure hunt. If you are looking for a property for personal use (primary residence, vacation home, etc.) then chances are you will have a little bit of emotion tied to your purchase and perhaps even be a little “picky”…(that’s okay, we would be, too).

Getting a deal that is 65 cents on the dollar or less is not an easy feat, and it takes a lot of rejection on our part to get one. It’s hard enough without trying to find something specific (i.e. 3 bed, 2 bath, with guitar shaped pool and a built in merry-go-round), so one of our featured “No Calculator” deals may or may not be a perfect match for your personal use i.e. it would be almost impossible for us (or anyone) to find you your exact dream house at those kinds of discounts. (of course, it does happen sometimes).

Wait!...before you go away, here’s the good news: we do have specially trained investor bargain savvy representatives that know where all the biggest steals are in Coachella Valley, and we guarantee they can help you find your perfect property below market if it exists!

We are not typical Realtors, rather, we specialize in finding bargains. So, although we can’t guarantee we can get it at a 40% discount (even though it does happen sometimes), we do guarantee we can find you something under market (especially if you are willing to add some paint and touch up. (If your new house has to have perfect paint, perfect carpet, perfect landscaping, we are NOT the right company for you)…we favor “scratch and dent” specials!

Do you have properties out of state? Northern California?

Cindy and I have the best luck dominating a small area (Coachella Valley) because once a deal pops up we are all over it like white on snow. Often, we get members of our community that will email us with a great deal in other parts of Southern California.

Hold on!...don’t leave quite yet, we do have the BEST, freshest foreclosure data for all 50 states, and the techniques we use to lock up these deals will work anywhere in the country. The country is experiencing a very serious crisis, and we at FarBelowMarket.com believe that investors stepping up to the plate and buying vacant rotting bank-owned houses and getting them fixed up is the solution…it’s not hard to do and it’s not rocket science, it just takes a little persistence! (not to mention you could get rich in the process).

…consequently we offer LOTS of free video and courses that show you how easy it is to go and find your own smoking deal!

We highly recommend that you sign in to our page specifically for those that want to learn how to find great deals at www.FlipForeclosuresForProfit.com.

…Let us show YOU how to wholesale just like we do for instant profits.

What exactly is “wholesaling”?

Wholesaling is simply finding a great deal, getting an accepted offer so the seller is obliged to sell it for that price, then letting a different investor come in and take it over for a small “markup” or “finder’s fee”. By the way, if you want to get started in real estate and you aren’t sure how, this is by far the best way to do it- no cash, no risk, no credit needed. Plus you can practice finding deals before you take the plunge and fix one up yourself. For more information about it, go to http://www.FlipForeclosuresForProfit.com.

Are you agents or Realtors?

No…and yes. I (Kurtis) do hold a license from the Dept of Real Estate in California. However, we don’t “do” listings. The deals we have available are NOT our “listings”, they are properties we have actually made offers on and put into escrow and are under contract. This is completely different than how a typical Realtor works. I do, however, have agents that are specially trained in “extreme bargain hunting” and can help you find a deal if you are looking for something specific in Southern California.

What does that mean, you have it “under contract”?

When we hunt for deals, we find deals that are already on the market at ridiculous price. This takes hours and hours of scouring the marketplace and responding to motivated sellers that call us. Literally 1 out of hundreds of deals we look at are low enough to consider. Then, we make a low offer from that price! About 1 out of 10 of those offers are accepted, and voila, we have a deal. At that point, we have not paid for the deal (other than an earnest money deposit)…but we do have a signed, enforceable contract that entitles us to that property at that price. Essentially, what we get paid for is what we charge someone to take over our stake in the contract.

Other questions not covered here, please email us

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