Success Forum

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This new wholesaler's name is Matt. Matt had contacted me through an ad I had posted about looking for cheap properties. He gave me a call and asked if I'd be interested in buying these 2 properties he had recently placed under contract. After I told him that I am doing what he is doing (wholesaling)... We agreed to work together and try selling them together.
Finally, in November (around Thanksgiving) I found my buyer for one of them. Her name is Megan. Megan was a new investor and this would prove to be both of our first deals.

Today I took the first real step to building my team and doing a wholesale deal in the next 30 days, and it made me reflect on the cliche that "knowledge is power"...

The cliche suggests that all I have to do is know something, and thing will progress from there. However, I've become very good at accruing knowledge without really making it work for me. How is this power?

May I suggest a more appropriate phrase?

Knowledge is potential.

I read an article recently talking about Ryan Seacrest. Ryan didn't grow up destitute, or wealthy. He was just average. In sports he was never picked first for the team and he was never picked last. In fact, he refers to himself as "irrelevant." However, he found his niche in high school. He started giving the days announcements over the P.A. and loved it.

Flash forward 20 years and Ryan has built an empire on the niche of him being a host for various shows. Forbes says he is worth over $200 million dollars. I'll write it this way $200,000,000. Count those zeroes. He is doing quite well for himself because he found his niche.

ARMs and Refis Making a Comeback

In the coming year it is expected that recent trends will continue with regards to more Adjustable Rate Mortgages and a return of cash-out refinances. As fixed mortgage rates rise, ARMs will be more popular and may be a tool for better ROI for investors. As home values rise, cashing out with refinancing will also resurface.

Mortgage Rates Rise Again

Christmas week mortgage rates rose to three month highs. Best rates listed as:
• 30-year Fixed at 4.625%
• FHA/VA at 4.25%
• 15-year Fixed at 3.5%
• 5-year ARMs at 3.0% to 3.5%
Some borrowers may not see the rate increases, instead paying the freight through higher closing costs.

New Home Sales Strong – Prices Rising

Hello DG family,

I was inspired by an awesome video this morning and want to share it with everyone. I put this on social media too. It inspired me to write from my heart. It is my wish that you can all experience SUCCESS! I had the best teacher ever! @deanGraziosi. Read on. And DON'T miss the video! 4 years ago TODAY I began this journey I'm on.

To be honest, folks, this forum NEVER ceases to amaze me. The cumulative body of knowledge, experience, clever tips, things to avoid, how to work with people, etc. just seems to be never-ending. This place is like the Bible of Real Estate Investing, and while I'm writing the Book of Dallin, everyone else is writing their own book of wisdom to pass along and share with other people. To quote a line from a religious song, it is like "The Dew from Heaven Distilling."
So my thought is that maybe we need to have one post thread that is the best of the best of the wisdom that we each feel we have gained and wish to share with other investors who are following along the path behind us.

I just turned 2 more mobile homes this month. We were blessed to find these 2 buyers. I had a buyers list prior to purchasing these homes, but we went through them and none of them took the homes. We fixed them up and as we did we kept advertizing them and showing them.

Both buyers are moving in this week. I have them mostly completed, we are hurring to get them done. Unfortunately i'm going to have to work on thanksgiving morning for a few hours just to help get things done. Sometimes you have to put in the extra time to make the profits.

Hi DG Fam,

Hope everyone is killing it in their real estate market. Well 2013 is almost done with and I want to end it with a bang!. I started my real estate venture on November 1, 2012 and landed my first deal in 29 days. It was challenging, staying up late at night reviewing the materials online, going out at night to place bandit signs and making sure I answer all my incoming calls even if I was at my 8-5 job. Talking to buyers, sellers and even sifting through craig list and other whole sellers list to find my first deal. Im also a full time single dad of 2 beautiful twin girls, so the only time I was able to do this was during my lunch break at work and late night when they will go to sleep. Dean said once " Knowledge + Action = Results "

I was talking to a student today who was doing a deal in California where she had arranged a hard money loan for 75% of the purchase price and rehab cost. She had put a property into contract for 640K and its ARV was 1.3 mil. She had also lined up a contractor/investor who was willing to joint venture with her and put all the money up for the rehab, which meant that with the loan she had arranged, she did not have to put any money into the deal. She and the contractor had agreed to split the profits. The rehab cost were 225K, and the closing and holding cost were approx. 156K and her financial cost were 46K, leaving a profit of 233K to be split by her investor and her. Now that is a sweet way to make a great profit with no money down.

Hello everyone!

I just wanted to drop in and say hi, I havent been online here in three months! I have been busy The last time I came to the site, I had a great deal that I really wanted to find someone to work with. The property was a steal but it needed quite a bit of updating to be profitable. I met a lovely investor here who contacted me, interested in funding the project. We made an offer, managed to get the property (listed at $189k) for $165k. We are currently in the renovation stage, working with a contractor who is not only remaking the entire house, but building on a master bathroom and increasing the square footage.