Starting over

don't worry about a LLC (Limited Liability Company) until you've completed a deal or two and have made some money. Depending on your state a LLC can run $300+. You can do real estate without a LLC. LLCs are to protect your assets, but if you have no assets to protect why spend money that might be better used elsewhere?

Where to begin? Right here. Order Deans books if you can. My favorite is 'Profit from Real Estate right Now.' '30 Days to Real Estate Cash' is great too. Either of these books will get you started. Check your local library to see if they have them.

Read the forums. They're FREE! Lots of free info and advice. Pick a subject, take notes! You can learn so much here!

Best of luck to you.

Sandi C.

Thank you for your help....i'll start by reading those bokks you mentioned.

I guess it would help to take classes and become a real estate agent.

You don't need to be an agent.

I know nothing about real estate.I thought going to school to learn how it all works could only help....i'll get my hands on a couple of his books to see if what he suggests is plausible.

The yellow book up in the top right corner of this page is all you need to get started.

Click here ---->http://sflblueprint.com/page1.html

Thank you all for your input....thanks for the blue print link Lane...i'll follow the instructions precisely and see what happens!...i'll order the books and follow those instructions precisely when they arrive and see what happens...nothing ventured nothing gained...What have I got to lose?

I've read the first few chapters....he says you should research your area before you buy...does he explain later in the book what he means by research?....if he does not elaborate what exactly am i researching?...I'm going to have to collect finders fees from investors to get enough cash to start doing my own deals...which book teaches a person how to do that work?....does he give examples of how the deal is put in writing?....how do you get the investor to commit in writing to my finders fee?....even if i get it in writing what is to stop the investor from ignoring the agreement and daring me to sue for the finders fee?

Many of the questions you are asking are answered in the books. I suggest you read the books and read, read, read on here first and after doing all that, then start asking questions here. We honestly do not mind answering questions, but we need to know that you have already been doing a lot of studying on your own and are putting the work in.

By researching your area he means to drive around, see what kinds of properties are selling in your areas, what prices they have sold for, how long have they been on the market, are there vacant houses, etc. Know what is going on there. Then when you see houses that are for sale, you will know if that price is in line or over or underpriced. That type of thing.

All of his books are great! You need to read them all. And often you need to read them three and four times. You want to understand what you are doing before you go out and start "just doing it!" If you are talking with sellers and buyers and realtors, etc you want to come across as you know what you are talking about or they won't want to work with you.

As far as a RE license, you will hear opinions on here on both sides. Personally, I have had my license and have given it up. I feel that in many ways it inhibits you. Realtors are not allowed to do certain things that you may want to do as an investor. You can still take RE classes and there are many RE books that you can study, but Dean's will give you a tremendous amount of knowledge and he spells it out in easy to understand lingo. And it is a much cheaper way to learn.

This is simple, but it is not easy. And it is not usually fast! It will take a lot of work on your part. And I mean a LOT! The absolutely MOST important thing will be the attitude that you go in with. If you say, "I think I'll try this and see how it goes", odds are, you will NOT succeed. If you go in saying, "I am going to make this work. I will NOT QUIT no matter how long it takes and no matter how frustrated I become!" and if you follow through on that promise to yourself, the odds are that you will do it!

I wish you luck and much success!

Karen

I will read all three books i've seen on this website.You can't blame people for being a bit skeptical when a guy writes a book with "how to become a millionaire" in the title.Everyone kind of goes by the theory that if it is to good to be true it usually is so they say to themselves "i need look no further".I am not quite that jaded and am willing to put the time into reading the books and going from there.

I thought all those tv infomercials we're scams too. Until I saw my former coworker in Deans show and I was hooked.

I've done four deals so far and made $6,000 so far.

This is no scam, its a business and it has to be ran like a business or you'll never get the results your seeing everyone get.

Kevin, it takes courage to reach out. As I read your post I’m having flashbacks thinking about my past and my experience in Real Estate. I once lost everything I owned. Ironically I became homeless, depressed and slept anywhere I could embarrassed to tell my family what I was going through. I used to sleep in abandoned houses, now I flip several of these houses per month. Unlike you I was ashamed, embarrassed and let foolish pride stop me from reaching out. However, with the help of generous, kind strangers and friends, I survived. It’s so much I’d like to share with you, because like me you are the underdog.

In my opinion, the two more important resources in life is 1. Time 2.Health In that order. If a doctor did not tell me I’m going to die next month, then I have the time to make changes in my life. If I were told I didn’t have much time in this life, I’d refocus my goals. For me, my depression affected my health. Worrying and stress can cause many health problems from heart disease to kidney failure. I encourage you to take care of your health as best you can. If you don’t, anything else will not matter.

It seems that you have what it takes to be a successful real estate investor. You have desire, ambition and refuse to surrender. You need to understand you are in a financial war. It is imperative to implement a strategic plan offensive and FIGHT BACK! However, you will need a battle plan and troops. I understand you currently have 740 troops and a camp to rest at. That’s a good start, because I didn’t have that.

Realize that the situation you are currently in did not happen overnight, so it will not be resolved overnight, but keep the faith, be persistent, have patience and you will win this. Your question was “Where would I begin if I were you?” So if I could, I’d like to share with you and any other underdog that may be under attack my battle plan step by step.

If I were you…..

I would get as many books or cds from the library on investing as I could. I would surround myself with positive people and influences. I would look at the classified ads for real estate, online websites, realtor.com , the hud home store.com, gohoming.com, fannie mae website, hometelos.com and sign up for free with some online local realtor website to have access to the local MLS Service. Id become familiar with the price of homes in my area I will be investing.

I would also call Realtors and private owners selling their homes without a Realtor (FSBO) For Sale By Owner. Do not contact an owner directly if they have a Realtor, instead contact their Realtor. You should be calling inquiring about purchasing property to get experience and practice with talking to sellers and Realtors. Make many calls, and you’re going to screw some up but with time you will get better. Ask about the features of the home and needed repairs. Its many good scripts you can use, you will find many in the books you will be reading.

I would join my local Real Estate Investment Club and attend the meetings. It’s imperative you surround yourself with people who are actually doing what you want to be successful at. It’s important to make contacts. Real Estate is a Team business. You will need to form alliances with other investors, wholesalers, title companies, contractors, hard money lenders, realtors, private investors, insurance underwriters, buyers, and sellers. I’d attend free real estate seminars just to meet other people and exchange contact info with people that has the same passion as I do, knowing that I can’t afford the course they sell. A group of people with the same goal and passion can often do together what one person can’t alone.

Last but not least, and this is the most important thing to do FIND A MENTOR! Someone who is doing exactly what you want to do in your local area. I would call the ads that say “we buy houses for cash” and ask them what type of houses they are looking for and in what price range. I would start looking for houses for them and bring them leads on houses, in the process I would become working buddies with them and ask them questions along the way.

Keep in mind some of the ads that say “we buy houses” are actually beginners like you who are looking for sellers to sell them their house in a creative manner. Never the less call them and find out if they are actually a wholesaler or a real buyer investor. Either way if you find them a house in their criteria everyone could make money.

Here is what I DID….

Do not bother spending money at this point on a LLC or anything else, until you build up some cash reserves.Avoid a Real Estate Licensee

No one gave me money to start my company so I adopted the attitude and my motto “Desperate time’s call for Drastic measures”. I did what I had to do within the boundaries of the law to get my company off the ground. I did not have money to order courses nor pay a coach. I started placing what I call ghost ads in free online publications such as craigslist that read, “3bdrm 1 bath house for sale CHEAP!” call Bennie.

When the phone rang the 1st thing they want to know is the address or more about the house. I would explain to them the house was not available BUT I get handyman specials like that from time to time. I would ask them more about exactly what they are looking for, price range and in what area. Then I would tell them as soon as I come across one like what they are looking for, they will be the first person I would call.

That’s how I built my 1st Buyers data base. I would then shop for real estate for these people who actually had the cash to close the deal and for this I was paid by the buyer to find deals for them. This concept is called assigning a deal or more commonly known today as wholesaling. Google wholesaling real estate. This is how I built up cash reserves to start doing what you eventually want to do and that is to flip properties and become a rehabber. I have simplified the process to a degree, because I could write an entire book on this method alone.

When the phone starts to ring, and trust me IT WILL write down their info and what they are looking for and put it in your newly started data base. Then you will go to the web sites I mentioned earlier and shop for them. You will need a Good creative Realtor to help you. I could write a book on how to do that as well.

I also placed in the free publications an ad that read “Investor friendly Realtor needed to help investor with purchase offers for single family residences ASAP” and trust me they will call. When they called I explained to them I need access to the MLS because I have buyers who are interested in single family homes in a certain area and price. I also need for the Realtor to write these offers up and present them to the sellers or other list agents. Continue to build your network and data base.

It seems I have typed a book, so I will end with this. Regardless of how many times you screw up don’t stop keep on striving. Every time you screw up a call, you’re getting better and better due to experience. Let me know how you progress and if there are any questions please respond. Thanks for having the courage to reach out.

Hey phillykevin I'm 100% new too but I have no doubt in my mind that making money in real estate is possible, and making a fortune, not uncommon. I only read Profit From Real Estate and Be A Real Estate Millionaire, and most of the articles here. I believe every basic thing you need to know is already in here and in the books. There's a step by step process that you can follow and it's in the book. From just reading it I already made a buyer's list (not that big of a list but I have no doubt that it will not expand once I advertise and make my first deal), I have found myself an agent, could have been two if I wanted, received my personalized listings from my agent today. One of the most important steps, making an offer, and finally an exit strategy. I am not worrying about the contracts for now until I get there, and I'm glad that my agent is experienced and can walk me through.

I have a lot of obstacles but let me tell you that the biggest asset you can have for yourself is always be positive. I can't believe how well people have been responding to my e-mails and calls. I always use the same line on everyone - "if I find you a good deal, would you be interested?" and then if they are (and they usually are), I ask for their criteria. I have a few questions about making offers because to me that is a very crucial step but I will try to find the answer in the forums and if I don't, I might start a new thread.

Good luck to you. No one can believe in you more than yourself

- Winnie, SoCal