Success Forum

See my latest journal entry and you'll see why !!!
Don't fear mistakes, you've made them before, and your still here.

Don't fear the naysayers, their always lerking.

But most of all, Don't fear Success !!!
Its waiting for you all !!!

I live in New York City, Bronx County and after 2 and a half years and a number of failed attemps to get a deal together I finally closed on my first deal.I received a Bird Dog fee of $6,500.00. Out of that I get half because I have a partner. I'm going to invest the proceeds back into the business and finally start a LLC and buy some more bandit signs, and bumper sticker signs to bring in more leads and make more money.

Just read this in Napoleon Hill's Thought for the Day:

"Are you waiting for Success to arrive, or are you going out to find where it is hiding?"

As the under $50,000 SFR's are getting snatched up by local heavy hitters and out of town investors here in Vegas it's getting harder and harder to get deep discounts, but I got another one-- almost! I got it at $53,200, but if the inspection warrants it, now that I am "at the dance" I may be able to go in and get an addendum for a lower price.

I put it out to my "more retail" rehabber first-- if they decline, I'll go to my "more retail" landlord and then to one of my heavy hitters, a buy n' hold guy doing high volume-- I have 7 days due diligence, so I'll let you know when it's "sold" and the "wholesale flip" is completed.

Specs & Details:
REO
4X2, 1234sf, built 1970
Listed in 2/3/11 at $76,900, reduced to $72,900 on March 3rd, reduced again 3/27 to $64,900.

As the under $50,000 SFR's are getting snatched up by local heavy hitters and out of town investors here in Vegas it's getting harder and harder to get deep discounts, but I got another one!

I put it out to my "more retail" rehabber first-- if they decline, I'll go to my "more retail" landlord and then to one of my heavy hitters, a buy n' hold guy doing high volume-- I have 7 days due diligence, so I'll let you know when it's "sold".

Specs & Details:
Motivated Owner (not an REO, but listed)
3X2, 1270sf, built 1964
Listed in 12/11 at $58,900, reduced to $55K in February.

I just wanted to tell you all that I've taken some action today to get my wholesale business going. I put out about 20 bandit signs, I have a few Craigslist ads, and I started a LinkedIn account today. I have also been in touch with a friend of mine who is a real estate agent to ask him to get me a list of cash buyers in the last 90 days. He didn't know how to get that list, and someone here on the DG site had the information posted so I sent him the list of what to do.

Well guys, I just made a decision to try to get and $1,500 or lose the deal. Since I usually opt to risk-- I think I love the hunt and adventure, it was odd that I opted to take the money and run.

Here in Vegas, we have a fair number of "dogs" on the market and as luck will have it most of buy/hold investors look in that arena.

Here's the deal:
1,000 sf 3X2 in a borderline, but non- violent area
Wholesale comp is $38,000
ARV $50,000

It's a Hot Mess, has a pool, cabinets have been stolen, copper is probably gone too.

My buyer REALLY wanted it at $31,000.

I have a final counter from the bank at $34,000.
My buyer said he would take it at $34 to keep our relationship good---- (he wants to buy 25/month) and he would give me $2,000.

Hey everyone, I just finished deans book.

Right away I want to do an assignment of contract deal. Can someone tell me tips on how to talk with the seller to agree to this contract without sounding like a shark?

I'm in Illinois and I told I need a brokers license to do this.....does anyone know if it's true?

Also, to begin with what is a good starting buyers list?...at least 10 to make things happen?

I'm going to start with Craigslist and a friend of mine to start to build my buyers list. I've read y'all have been getting good results there.

What forms did everyone use...the ones Dean provides or did you get your own from somewhere else?

Hello all,

This is my first post, I've been lurking for a few weeks now and have finally decided to post. I went to one of Deans live events today and signed up. Going to a 3 day class next week (going to have to call in dead) and I have to say I am SUPER excited. I hope this is the first of many posts, thanks in advance for all the good advice and support.

Jean

I am not sure if there is any similar blog here, but just in case, I would like to recollect all different opinion on how you did it and why you did it. Of course, this is quitting your day time job and becoming a full time investor. I am sure there are others beside me who just want to become full time investors but still stuck on your regular job for whatever reason. Any feedback and/or experiences would be greatly appreciated.