Success Forum

Today I talked with my banker.
The topic: how much and how fast we could move this year. We have $250k in loans with them, and we're looking to hit $1 million by the end of the year!

This bank will do a max of $12 million, but needs to see performance of existing loans reflected in tax returns before moving forward past the $1 million mark...

How did we so quickly get to this point?
#1 We presented pro formas on each property with NOI. Banks like evrything laid out for them, it males it easy to give a thumbs up on a loan.

I realize this is the success forum but as much as we all talk about how failure is a GOOD thing it surprised me to not see the most important topic in here FAILURE!

So I wanted to post some of my failures and hope that others will do the same so we can all learn from each other and hopefully avoid one less failure or major set back by learning and sharing with each others FAILURES:

Well wasn't that an AWESOME Edge! I know I'm still on FIRE from it! So much incredible information every year! I LOVE the EDGE!

As we all start to get back into the daily grind and resume our normal lives with the energy and adrenaline from the Edge, it's important to take action NOW. Do you want to be someone who comes to the Edge next year with an absolutely amazing, spectacular success story to tell? Then you can let no excuse or daily grind get in your way of achieving everything you're meant to achieve.

OK so wholesaled this deal actually a wk & a half ago & forgot to post it here sorry. So one of my buyers called me & asked me to help him co wholesale one of his deals he cound not fix n flip after all.

I created a postlet after checking the comps & sent it out to my buyers, lined up appts for them to go see it, it is owner occupied & is in Kansas City MO & I live in San Diego CA,one of the buyers took the prop & we assigned it for 7k! My take is 2k because we are splitting it 4 ways, 2k for ea wholesaler & 1k for the seller so she can move.

Mind you we would be paid out of closing which is set for May 10th so we havn't been paid yet I will be asking for $ upfront next time though.

I AM SUPER EXCITED !!!!!!! My wife Karen has just started as my executive assistant in our new real estate office and I am CRANKED!!! It has been 5 yrs of working night and day. Every day getting up early and every day working evenings and every day doing real estate on lunch breaks ........ To prove I am DEDICATED TO BEING A SUCCESSFUL REAL ESTATE INVESTOR !!! It is finally .....my goal ..... of having her retire from her 8 yrs of owning a certified daycare. She has dedicated those 8 yrs to loving, teaching and caring for children every day !!! She has welcomed all her precious children as family each and every day for all these years and I thank her and the children's parents for making our lives brighter !!!

I am a complete novice but not without worldly knowledge. I have worked in the technical industry for at least 20 years but I have been out of work for the last 14 months. One thing that I have notice about the majority of wealthy people is that they have real estate. I see a lot of good information here on this site but will it work for someone in my situation?

So, this is my situation and my question. I don't have any assets that I can liquidate, I lost my home a few years ago and that killed my credit. I have $2000 cash and I want to get into real estate, I need things to change. If you were in this situation, What Would You Do?

Sincerely

Can someone Please send me the Link to Dean's New Book "Students Secrets Revealed". For some reason, I'm not receiving it in my email.

Thanks In Advance.

Waide

When we start on a new venture we are very motivated and eager to be successful. However, the world quickly shows us every reason why we are not going to succeed. Our friends and sometimes even our family tell us we can't make it.

Many times we have to be our own fan. We have to be the ones that cheer us on. Whenever I talk to new students I tell them straight up that investing is not a get rich quick scheme. This is a career change. You will meet obstacles. You will meet challenges. But these can all be overcome. You can change your life if you are willing to put in the effort.

Remember the ones that succeed in this business are the ones that think they can.

When Finding A Realtor
February 26th, 2014 | posted by waidef

In Dean's latest book, he talks about finding a Realtor. He says for us to call Real Estate offices and ask or there any Agents there that works with Investors. My question is, will those Real Estate offices have a problem with Investors calling their employees offering them work? If so , how do you overcome that?

What role does the Realtor play in the wholesaling process since I(Investor) will be playing the Middle Man between the buyer and seller?

Got this prop off the MLS & originally had it for 80k but I asked for a price reduction of 30k since it needed significantly more wrk, foundation wrk & sellers agreed. I co-wholesaled it & the #'s are, got it for $51,500 after sellers agreed to a price reduction, rehab 45k ARV $140k my fee $4,750 at closing 3/14 & partner same $4,750.

Awesome! So happy, our buyer put down the emd $500 & it immediately went hard(or is non refundable)since it is past the inspection period. I was going to let this one go at first because I realized it was on a busy st(I didn't notice it the first time) but gave it a shot & 2 buyers were fighting over it, KC is a sellers market now.