E.D.G.E Conference...What are the greatest techniquest YOU learned at the conference?

We missed you VERY much. Hope you can be there next year.
OK, I'll probably put half a dozen posts in this thread as I recall things, but here goes.
Oh, and they're putting together a package of the best of the event that will be available. REALLY looking forward to getting my hands on that.

Saturday speakers:
Nathan Street - I think everyone was buzzing about the system he taught for building business credit. Very easy to do, using any amount of $ you have on hand to build credit at 3 or more banks simultaneously by opening an account and asking for a secured loan against the money, taking THAT money to the second bank to do the same, and so forth and so on. I won't try to explain in detail (unless you want me to) because I know that info will be coming. But he had so much great stuff, that was just one exciting subject he covered.

Talmadge Bell - talked about buying non-performing notes. Again, fascinating and not something the average investor would know about. I REALLY appreciated his wisdom and look forward to getting my hands on some of these.

Jeff Jensen - Man, talk about a funny guy. He was awesome. He spoke on the different exit strategies and made everyone think about and choose ONE to work on when they get back home. Investors (especially newbies) can get overwhelmed with all the strategies and information overload. You have to FOCUS in order to move ahead and make it work for you. try one thing at a time and get good at it.

which makes me think of Greg Murphy. Wow! Was he fun to listen to. He DEFinitely has found his niche and GREAT system with how he does lease/options. (And he about had us rolling in the aisles!)
Every moment of each day held something valuable to our investing future. It was so great to hear everyone that shared and see all my RE heros.
Of course there was also Matt, Chip and Andrea, Nathan, Bob and Debbie, (and me with stagefright. lol. I'll have to post on here more of the stuff I meant to cover).

And Dean. WOW! He took us through some really deep exercises that drew out the core of why we do what we do. It was very eye-opeing. This whole thing was an experience I'll never forget. It just made me want MORE!!!

Now I think I'm getting off what your thread was all about, but I have to say also that meeting everyone in person was like a power boost you couldn't even imagine! To hug someone in the flesh and look into their eyes is something you just can't duplicate on-line. It was such a blessing to connect to everyone, and I can't wait to do it again next year! (with ALL the DG fam!)

Love ya, Sissy! We were thinking about you.

Rina

P.S. I did give Dean a big hug for you, and he smiled because he remembered your post.

First Off, Rina you were great. People really feel like they can connect to you! Thank you for always inspiring us!

As for our big take aways:
1. Yes, it can be done. In any market with any credit money condition it can be done. You just have to find what works for you and what will work well with your market.
2. The value of the deal - the better the deal you find the more options you will have.
3. Get started right way. Build a buyers list - tell everyone you know that you are interested in investing in real estate. Post ads looking for investors, look for "for rent" signs and find out if that owner is looking to buy more homes, and attend your REI club meetings. Find out what their parameters are and go find that property.
4. Celebrate all the successes - you need this to keep pumped. One thing we do every night is list 5 things we are proud of doing that day and share them with each other. The little accomplishments help remind you that you are making progress. Also, if I'm having a hard time coming up with my 5 successes mid-day - that serves as my motivation to go get one other thing done. Post an ad, call a potential buyer/seller, etc.
5. Find your support group: is in your DG friends or is it someone you can call up and have lunch with. Find someone that will hold you to your goals and pick you up when your down.

This is more inspirational than, task specific, but often times getting started that is what we need a good inspirational kick in the butt!

Thanks guys for the feedback. I would like to hear more about these stratgies...especially the non performing notes. What department of the banks hold these notes?

Thanks for the inspirational kick in the butt!
You guys are great. It's really nice having you here, and I felt very fortunate to meet you at the conference and glean knowledge from your experience. There are people here of all ages, and you guys prove that you don't need years or lots of money to get started.
And like you said, it can work for ANYONE, ANYWHERE in the country. Taking ACTION is the biggest factor.

to the success of the whole DG family,

Rina

I think they're going to post all the info that was presented here. To be honest, Talmadge covered so much information so fast, it was impossible for me to keep up with writing it down. I'll check my notes, though. He had some very creative ways for finding these notes. Maybe someone else can pop in here too. I met several people that were just stoked about getting started in this area.

Rina

Often times notes (especially non-performing ones) are from owner financing. Here is an example. A couple wants to buy a house for $100k. To qualify they have to put 20% down. Well, they do not have 20k. The owner then agrees to carry the 20k (this is less common now, but was more common when the market was going crazy) Anyways, The Note would read:
$20,000 Mortgage (2nd mortgage)
Term (60 months) 5 years
Interest Only at 10%
Balloon due in 5 years.

Often times the original owner is not a banker or money lender so they do not hold the buyer accountable. Most homeowners only remember to pay their mortgage because they get a coupon stub in the mail. So the owner financer doesn't push and then the buyer just forgets.

How to find notes:
- Accountants
- Attorneys
- Realtors
- Bankers
- Internet (place an ad on Craigs List - I buy bad debt, non-performing notes, etc)
- County Records

If you find a note, before you agree to purchase it talk with the Payee. Find out why they haven't been paying and how much they can start paying now. Use that information to negociate with the note holder.

This should wet your appetite, after that I recommend calling the advisory line and discussing with them further.

Best of Luck!!!

A couple more places he mentioned to find notes were:
- real estate agents (for referrals and also a source)
- mobile home parks
- NoteworthyUSA.com
- classified advertisements

He went through 6 ways to purchase a note, the 3-point basic strategy, what the max is you should pay for the notes (remember these are NON-performing notes that most people wouldn't buy), and how to flip a note.

Looking forward to seeing all the info again. You'll be amazed.

Rina

I look forward to learning more about Non Performing notes. Sounds very interesting! $$$$

We surely did miss you at the event sister. The non-performing notes were very interesting, something I never thought about, another interesting lesson was developing relationships with the small banks. I'll look through my notes and post more this weekend. Rina, Greg, Chip and Andrea were all great speakers too, I wish you could've seen them. They were so nice, captivating and made us feel like it was easy to accomplish the success they have attained. They were very down to earth and looked like real pros up there! Dean put a lot of thought and time into making this the BEST event possible. You can tell that he really wants us all to succeed and change the economy by doing so. He made us dig deep into finding out what we want and why we want it. He went over that in his latest video blog. A great exercise to do frequently! More good stuff to come...

God bless you,