OfflineHello Everyone:
I have not been a student of Deans for very long. I have hi Profit Now book as well as his new book Your Town. These books are a godsend at a time when I really needed to try this again and make it work.
I have health challenges that seem to not come out while I am not working. I suffer from Kidney Stones and have had as many as ten at one time. I also am broke financially and am 30 pounds overweight, all from stress.
This thread is not so much about nuts and bolts techniques, but there is some relevance here as you read on.
From reading Deans books and from following this community, I have found that this is really a mobile business or can be. What do I mean by that?
First, you don't need an office and employees unless you feel you do. What you really need is a good cell phone with a unlimited plan in place, preferably a Blackberry. You need a 800 telephone number. I find Ring Central to be a good one.
You need a laptop, the forms that Dean makes available especially the Profit Now and Your Town forms, all found here.
I use Realtor.com to locate deals online, although there are better resources, but for example in Pittsburgh, PA there are properties listed for sale in the $5000.00 to $12,000.00 range, so there are some lower priced properties out there.
There is nothing more you need as far as tools. For resources, a good hard money lender is a necessity although I would take the route of Transactional Funders before I go hard money.
In Dallas Texas, a good hard money lender is Apollo Financial. The guys name is Bill Jackson. They will fund 70% of the ARV and go to a 30 month term, not the 6 months most do and he does residential deals.
For Transactional Funders, most are full of crap. Their websites are often operated by so called Real Estate Guru's who get your contact information and then bombard you with webinars, so you'll buy their opportunities/courses.
I will post later today, a list of the real one's, the one's who actually make their money by providing funds to you for your deals.
Don't know if this helps anyone but hopefully it does.
get your health right; sure you've visited doctors, but try and keep your stress levels as low as possible, eat right and get the right amount of sleep.
Much success to you
So your saying 70% before or after ARV??its a newbe question...
John W McCarty {Jay}
Thank you for your kind words. I am working on it. I have been to a doctor and he suggested I look at another career and I am doing that with real estate.
I have not bought one property yet, but I do have several deals I am looking at, getting the information needed to make a informed decision.
How does one get in touch with you about doing deals with you?
Apollo Financail no longer lends on the ARV. He lends 70% of Value. This is not a good source to go to. I will look at other avenues and advise.
Sorry for the miscommunication.
glad to see that you are jumping in the game. what is important as Elix said, is that you take care of your health. I admire your determination and wish you the best of luck....Jan
I have not bought one property yet, but I do have several deals I am looking at, getting the information needed to make a informed decision.
How does one get in touch with you about doing deals with you?
i'm useless remember??? (badoomb doomb)
Just a little DG humor to settle the mood
I have a contact that I work in Kansas City, MO that is very successful that could help you get your first deal
Send me your e-mail and we can go from there
Elix,
You don't have any in IL, do you? Haha. I just put in my first offer about 20 minutes ago on an reo for $22,500 that totalviews over 80, so we'll see. You were right about what you said about finding buyers before you have anything under contract. First thing they ask for is a list. I'm going for the properties first... Now that my agent is on board.
Sheila
"If God is for us, who can ever be against us?" Romans 8:31 NLT