YURI'S JOURNAL

I love this site!

So many great people who are willing to help!!!

I wish I could thank Dean personally for thinking of this!!!

I made contact with several investors from other areas, who want to partner up and buy properties in their areas together.

I am not sure how we can accomplish that, since they are far away from where I am.

Trying to research it a bit more.

Went to bunch of bank's sites to look at REO's. Emailed few brokers listed there. No response. Called and left messages, noone called me back. Starting to get a little disappointed. On top of everything, I ordered Dean's book and it doesn't look like it even shipped.

I need to get this thing going ASAP since I might be losing my job soon.

Will have to call bunch of realtors I know in PA to start buying some cheap properties there. Maybe I will have some luck.

RE has been a long time dream of mine also. I got laid off last week and you know what? I feel like they did me a favor by freeing up my time to pursue RE full time. I finally made my first offer and I don't plan to rush and make unnecessary mistakes or waste a lot of time and resources. From what I can tell, the ones who make money at this are the ones who don't give up and are willing to learn. Hang in there bro. Your fortune is on it's way!

Thanks for the kind words. Trying to do what I can not to get disappointed.

Thanks again

Spoke to couple of people from DG.com forums who I have been in contact with through PMs and emails. Today I actually spoke to both of them over the phone. Gave me a solid hope that I can actually do it and make a living out of it. Who knows, maybe my gift to my daughter's 3rd birthday on September 24th 2009 would be daddy being able to spend more then one day a week with her because daddy would be able to spend more time at home rather then work.

I think I should set that as my goal. Do what I can to get ahead by September 24th, I know my daughter would love that idea. I am sure my son will too but he is too young to understand that yet, he is only 1.

On a different note, it has been a week since I ordered Dean's books and I still don't see them being shipped. I am getting impatient, so the only thing I can go by is what I read here at the forums (which is alot!!!).

Too bad I didn't hear about this place sooner!!!
Ok, back to the forums.

I got into a huge fight with my boss today and the more days I spend at work, the more I realize how much I need to get out of that place and how much I need to start working for myself. I can't wait for Dean's book. I am just ready to follow whatever strategy he has and has to offer!!! I am game!!!

I called few of the realtors in the Poconos area today and told them that I would like to start buying REO's and foreclosures and need them to work with me to sell them ASAP. In PA, the realtor gets 7% of the sale price. I offered them the deal where if the property sells within 30 days after I bought it, they will get 10% (meaning I don't care how they find buyers). So far out of 3 I have spoken to, none seemed to be too enthusiastic, even when I explained that I am not planning to buy just one but as many as I see have value in it.

Oh well!!! Back to the drawing board.

Yuri i promised my self i would not reply anymore,Do to some of
the reply's of my past!Rei is not about emotion...It is bussiness.
Today i have my professional face on! You Already have assests in
your favor...Your goal of having more is for the taking (assests).
Then there is the old job decision you are dealing with as well,
Only you can answer that question(should i stay or should i go)
I always think of a coin it reminds me of the two sides of life!
Yuri bottom line...Get out there and meet everybody that is a part
of your goal!If it just happens to be real estate investing then
talk to everybody that you can get your hands ON ...THAT IS A PART
OF REAL ESTATE.(re agents-re brokers-re attorney-re buyers-re
sellers-re hard money lenders)If i for got one, Of course i did!
Most of the successful people in the world have done great by
"Not seeing the beginning(flip the coin) by seeing the end".

Randy

PS Think outside the box(see your ending)

I finally closed my eyes and took the plunge!
I joined the academy today. After speaking with the guys there, I have a very strong feeling that they will be very helpful and that it was money (even though not a small amount) well spent.
Am I scared? Yes! I haven't been to school or studying since I graduated college. Am I excited? Definitely!!!
They want me to close 5 deals in a year. That's what I want to do in 6 months.
My goal is to make 10K from every transaction. So, in 6 months, I make 60K and to paraphrase Demis Roussous "goodbye, my job, goodbye!!!"
YEAH BABY!!!
Have my first appointment on Wednesday, can't wait!!!
Since my CC bill is due in a month, I need to close my first deal in 27 days so I can pay it off without any penalties.

Hey Yuri, CONGRATS!!
I do believe that IS money well-spent. I've been meaning to catch up on your journal (jst read through it again) and I hink your goals are AWESOME and VERY reaistic! I think your little girl will be getting that birthday gift!

God bless, and I wish you all the success you deserve!

Rina

That means a lot coming from someone who is one of the top people at DG. Thanks. I will keep bothering you if I have any questions I hope you don't mind.

Today was a productive day. After I enrolled into the academy yesterday, I said to myself "NOW WHAT???" What is the next step... Well, first thing's first. I need to close a deal within less then 28 days, because that seems to be a record in academy and I am very competitive (I used to run cross country for my school). On top of that, I need to get my tuition back, so no time to waste! I didn't get the book yet, so I have to rely on my past experience and just being ME.
So, step one --> Finding a good realtor!!!! DAMN, THIS IS HARD!!! People just don't want to work nowadays. I started calling around and speaking to realtors. I called 5 in the span of about 40 minutes. I figured the best way is to be honest about what I am planning on doing. So my whole speech was "Listen, I want to buy foreclosures, REOs, tax sales - whatever and I want to sell them within 30 days, and I am looking for you to help me. I am also looking to get some properties together and just bid on 50 at a time. Also, I want you to feel comfortable about low-balling banks. If the bank is asking 200K for a property that is estimated now at 300K, I want you to bid 100K and let them come back to me with a counter offer". Well, 3 realtors were lost right away, they refused. I don't know if it was the idea of 50 houses at a time or low-balling, but they declined. I appreciate their honesty though. I rather them say no now rather then waste everyone's time. The 4th realtor was too apprehensive about it. So I called the 5th. She was a GEM. She told me that this is what she specializes in and she works with investors and financial gurus and has a great client base to whom she can sell the houses too. So looks like I found my realtor! She was excited about it too!!! I am meeting her next week, she has a list of 170 foreclosures she wants me to look at and tell her what I like so she can get a feel for what I am about and what my tastes are. Once she knows me, she can place those offers on her own. NICE!!!

Way to go finding a realtor. i am having so much trouble, it's nice to see that there are some out there willing to work with us newbies. The last one I spoke to really got me down. He was very negative because of my lack of start up cash and bad credit scores. Good luck with your meeting. I just got the book yesterday and am going to start reading it right now.

Stephen

Don't tell them you don't have the cash. Tell them that you want to use as little of your own money as possible.

So I got my business set up except for one crucial component!!! BUYER'S LIST!!!
I have an itchy finger and want to bid on 35 properties I found. However, what good are they if you have noone to unload them to.

So far this is what I have in place:
1 -- REALTOR
2 -- MORTGAGE BROKER and HARD MONEY LENDER just in case
3 -- CONTRACTOR to inspect and rehab the property if need be (one of the few honest ones left)

Now I have to figure out my next step to find the buyers...

BTW, finally logged into my courses. Alot of very useful info. Trust me guys, it's worth it. I also called the Advisory Line today after I got discouraged that noone answered my craiglist ad and they really helped me out and managed to keep me focused. GREAT WORK GUYS!!!

Also, got my book yesterday. So, I will be busy for a while I think...

I get what i can,It all sounds good! Good-luck i hope the best for you!

Randy

P.S.I am not a student,I get what i can!

I got a call today from my mortgage broker telling me that unless I will be very creative, I will have to shell out 20% at the closing. Well, I told her that I am planning to do assignments of contract rather then flipping. She told me that I need to research it more because she is not 100% familiar with it but haven't heard anything good about it. Then, I log on here and see a post from Chris (wealth2009) about this topic. So I will be calling my RE Agent tomorrow asking her about it and my title company.
As my luck would have it, the hard money lender I was planning to use backed out as well.

So now, in one day, I took 5 steps backwards and not a single one forward. Now I am starting to think that I made a mistake paying all that money for academy... Eh... I never give up on something I put my mind to, so I am not about to give up on this. I might as well put those 35 offers in and see what happens.

Yuri, You are doing awesome so far. It takes a little time to get started in a new venture as big as real estate. If one broker doesn't work out go on to the next one. There are also lots of HMLs out there, you'll find one. You're already ahead of me in so many ways. Keep going. people like you out here give me and others motivation that it CAn be done. You will succeed. Well, heading back to CL to see if I can find a partner with good credit for the HMLs I've spoken to, lol. Good luck.

Stephen

Find me one too. I need one too my credit sucks LOL

Yuri,Check your EGO...At the door! If you want to vent, Get it with me.
Remember; Your goal...Real estate invester!

Randy

P.S.I made the decision to ?

Yuri, Only you can find your way...I have to find mine, Last time i
checked! They were not giving away...Get into REI for free.

Randy

Yuri,
What part of Pa are you interested in buying? I live in Northeast Pa.
Kat

I am buying in the Poconos area.

I am looking to invest in upstate also. I sent you a pm with my contact info. Jeremy

I got your info, will be contacting you shortly to discuss everything. Sorry it is taking a little longer.

Yuri

I had a long break. Had to attend my best friend's wedding in Pittsburg. So 3 days off, not much done.

I designed a logo for my site today. I guess all those years of web design didn't go to waste.

Another day passed. With each day going by and me not acting, it's a day wasted. I can't stand my job, I want to leave, but I really can't right now.

Ok, back to work!!!

Ever had one of those days where nothing goes right?
Well, I had one like that today. Had a bad day at work. I am getting yelled at, being belittled and all for what? So I can make money to support my family. I keep asking myself why do I put up with this and not just leave... Then the responsible side of me kicks in and doesn't let me do it.

My whole idea to make money so I could leave my job is getting worse and worse. You can't really do assignments anymore, so that's out. I have no money or credit to buy something to hold.

So, in short... This is one depressing situation.

Today I have had the worst day so far. My wife pretty much told me that she doesn't think the real estate will work since I have failed once before. Makes me rethink everything. I just want to prove to her that she was wrong and need to do it fast.

On a bright note. I have decided to start putting offers in. I have about 50 properties that I found. All foreclosures. I have emailed my agent to put 50 below asking price on all of them. Figured that if the 25:1 ratio works, I will end up with 2. Right?

Let's cross our fingers!

Love her, but don't listen to her fear. YOU ARE the OPPOSITE of failure. You are successful and looking toward a bright future for you AND your wife. Be strong and go with your plan. Get those offers out there and maybe don't say any more to her until you can SHOW her the properties you have under contract.
I have total belief in you, as does everyone here!!!!

Do it.

Rina

My problem is that I have been listening to everyone all my life. Hard to change. She has been my number one support since the day we met. But regardless of all that. I have access to 1000 yes, 1000 of properties. Great properties, undervalued properties. I just need the damn buyer's list. I have tried doing anything and everything. I am ready to take a plunge, but it is one thing to dive with the gear on and another to just dive -- period. So, with no money down and bad credit, I either need to assign them or get a partner and keep them for cash flow.

But!!! I have made the first step, I have put in offers. I think as soon as they get accepted, I will have no choice but to hurry up and find someone.

BTW, have you ever put in offers with assigning stipulations?