Why not with my blog?
My wife and I are newbies, never purchased property before.. or even looked at real estate till now. We are hungry to get it started. I work in sales and have for the past 9 years or so, and Kether (my wife) works as a vet tech.
Our 30 days to real estate cash has come and gone, but we are here to figure out what it is going to take to take on real estate investing full time.
Being new we have hit some pitfalls, and gone from super motivated to not so much. Kinda funny how easily that can happen isn't it? Our first real snag was the need for proof of funds in order to lock in a property.
so if you have advise on that: love comments!
Next I guess is really how to look at several different properties and package them so that an investor can see that we know what we are doing. My only answer to that question is "if you find the right deal, you really can't screw it up" ha.
I have been searching for an equation to find a great deal.. put info together for an investor, and get it funded. We don't have cash, or credit for that matter. So we are bird-dogs now I suppose.
We both love real estate, and have been looking at areas in TN to invest/assign etc. I believe I have found a great realtor in the area, that is sending properties all the time.
We are expecting our first, a baby girl is coming into our lives, and I am scared, excited, and super motivated to be a father that can provide for my family. I don't want my wife to work, but currently just can't afford the bills living here in San Diego with out her.
So we are turning to real estate. I am confident we are the perfect real estate investors, or just investors/entrepreneurs for that matter. We don't even watch TV, and spend all our time looking, learning, and developing ourselves.
Any advise appreciated! My commitment has been to learn more every day on this site.. at least 30 per evening.
Today I posted my interest in some "virtual assistant" JOBs in the services tab of this site, so we'll see how that goes... oo read some advise from having a handyman look at housing for me, that was cool... and now I am really looking for the "how to present a property" to an investor.
Think that is a good first post.. I will post to this daily as it will keep me on track for learning and reflecting. Thanks for reading! Posting and your support!
ooo one more thing.. here is a video i put together for kether and I.. bah i guess just something to get to know me here.. proud of it http://animoto.com/play/z5xYGMPmLFPm3zcIG31l2Q
till tomorrow!
Who is Dean Graziosi?
Are People Actually Successful?
Does Dean Practice What He Preaches?
What Deals Are The Students Doing Right Now?
ahhha transactional funding answers that last one!
I have had trouble finding homes.. until the other day! I really think we have found our first assignment deal.
This is a abandoned home in Iowa. The lady that owned the property is ready to sell now, and is showing extreme motivation.
She wants 6400 for her home, that is in a small town. That is going to be enough to move her family into a new place that has enough room for the 5 kids, and 3 adults living with her.
The ARV on this house is 65-85k depending on what you do with it.
I think I can lock it in this weekend. I am going to start building my buyers list tomorrow by googling cash buyers in iowa, and posting craigslist ads.. once I have that bucket filled up I will lock er up and assign for some quick cash.
We have a few bites on the Investor ads!
I posted some craigslist ads using a cool flyer program I found. Right now I have a couple emails of investors that are interested. see flyer here:
http://csprague.vflyer.com/home/flyer/home/235954001
We found a realter the other day that is investor friendly and we are signed agreements to work with her today.
I wanted to have all my ducks in a row, when I nail a discounted price with the seller for this property I want a contract to sell in her hand.
I am going to just see what will happen on this deal. Seems like it can be a great deal, and this is definitely a motivated seller.. so I am just going to get the price as close to zero as I can and see if we can assign it quickly to an investor over there. wish me luck.. does anyone even read these blog posts? haha prob just writing for myself here.. but maybe not. please put in replies if you read this.. We can really use some encouragement right now. Thanks!!
good luck!
I too have been struggling to get that first deal done, but it sounds like you and your wife have the drive and determination to make it happen! I wish you all the best, and hopefully this will be the start of a wonderful future in real estate!
Amy
Thank you so much for your reply
I was starting to think that I was writing for myself. Well I have great news! We did our first consignment deal this weekend! Extra $2500 for Christmas feels so great.
We sold a beat up old house and 1.06 acre lot to a retail buyer that just had the cash and was bidding on property in the same area! -They were referred to us by the Realtor of ours!
This was our eighth call from mailing vacant houses. I was making the process more complicated than it should have been. From contracts to taking calls, it all seemed so daunting. But we pushed through, and I found 4 more sellers just this weekend from our mail!
We are very excited to put Dean's education to work for us.
Hot dog! First Deal?!!: Motivated FISBO in San Diego
Oh boy, it has been a bit over 30 days for us. But we just have the itch of real estate whole-selling that just can't be satisfied without a deal.
Love to put some pictures here but my flier just went offline for maintenance (using vflyer)
We found a great realtor (friend) in San Diego that was new and worked for an investment firm. She recently had a falling out with her broker and had submitted offer after offer for us from the MLS.
Although we never got a deal done, she was someone we always networked with. in the last couple weeks, she started talking about a house that she was getting repair estimates on to fix and rent for a family member. Her uncle is going into assisted living and didn't even live in the area. The house it turns out is free and clear, and they needed 40k in repairs to fix up.
The house is in a great area 92116 in San Diego and it has a canyon view.
Looking like fixed up it would comp around 738k. I just submitted an offer for 420k cash with deans sales agreement.
We have several investors that are interested, and I spoke with my friend tonight and seems like a go. They just want to "get it done, fast and easy" He is needing monies to handle his care.
I really hope I can get this done for them and I didn't mess anything up with the agreement.
If anyone reads this, give me a "Heck yea!" or "make sure you do this..." as I can use any help or votes of confidence getting my first deal here.
I will post my vflyer here soon so anyone interested can see it!
Thanks Dean. I have to say, you and teaching/support here have been my guiding light.. my wife and I have read about 15 books now on investing.. paid for coaching (someone else) and got the RBBP from you.
We just partnered with another realestate/investor company and they are sending thousands of letters for us to vacant homes (my list --starting this week) we get the wholesale deals.. and they get the listings from the responses.. They also buy/flip and will partner with us in some of the wholesale deals
Thank you!
First Deal done! Ramona Ca!
We made an extra $2500 for christmas this year by mailing vacant properties. We hand wrote 93 letters and received 16 responses. Our 8th call was a lady who wanted 250k for her property. I told her on the first call that "while I understand why you would want that much for the house, we were probably too far apart" I continued "We are investing in properties and in order to make something like this work, I would be in the 150k range.
I followed up with her, and she had some much lower offers on the house .. 123 as the highest, and she decided that 150k would do. (this was before I even saw the house!)
Turns out our Realtor had a client, they desperately wanted to get their listing but was having trouble getting 1 acre of land in Ramona.. and our call was on 1 acre!
I they are closing on the 6th of December for 150k, and I took $2500 assignment fee. We have continued our mail, and keep finding sellers!
I am really hoping that I can get another contract signed this week.
Assigning deals is so addicting! Can't wait for another.
Chris
I just came across your blog here. It is very interesting!
Did anything come of the deal you were posting about on the Oct 16th post?
The reason no one is posting on here is that we are not seeing the posts. I would suggest that you change over to "forum" format. You could actually transfer everything. Put the date the post was posted here in the subject line and then copy/paste the body. Will be a little work but then everything will be together and you will probably start getting responses. And that DOES make your posting more fun.
Congrats to you guys on your deal and to you for persevering in spite of everything!
Karen
Thanks Karen
To answer your question about the property on the 16th. Nope it sure didn't. I thought I had an in with the seller but she opened it up for several other investors and I was just outbid on the prop. There are alot of hungry investors here in San Diego.
Chris
Cold calling begins now!
Seems like this is the most dreaded activity of any in the REI world, but that is what I have done for work for the last 10 years or so, so why not for myself?
I have a dialer system set up to call 4 people at once, and leave recorded voice mail for me.. I hit the button and about 2 seconds later I have someone on the phone --very cool--
The system shows me the "vacant property" and i just tell them that I am an investor and came across the property and ask for the sale. Seems like the "vacant" homes are only really vacant about 1/3 of the time so far.. but I am just getting into the list.
Wish me luck.. I should be able to put in a few hours of calling tomorrow, but I'll probably get through my list of 300 tomorrow.
ON a different topic---
I am partnering with a cash partner, and a deans elite member to purchase a property in NJ. Looks like we can get in and out in 120 days and make 20-30k selling the house under value.
It is tough to trust someone I have never met.. and put my reputation on it. I know that if I can get this deal done I will have tons capital and partners to invest with me on future deals. I work in an office where some of the top sales people make 15-30k per month!
I want to do 20-30k per month in selling real estate investments to them! That is a 6mo goal for me, and I believe I am going to double that in 1 year. I am so excited to really move my business to a new level making money in several different avenues.