Getting Started Need Some Advice

Here is a starting point.
1. What is the loan pay off amount? Do they have a 2nd, 3rd any liens or judgments?
2. What is the house actually worth?
3. What are the rehab/repair costs to bring retail price?
4. Sell it or short sell it if they have no equity.

OR

1. Pay off the back payments, fees and penalties.
2. Take the property "subject to" or do a sandwich lease/option.
3. Rent the place for positive cash flow.

Your brother should be looking for a place to live either way, right now!

Hope this is a starting point for you,
Michael Mangham
MD Home Acquisitions LLC

Hello Robert. I am also new to rel estate investing. Can you share some of your experiences with investing in the Massachusetts area? I am looking to get started on the south shore first.

I an a newbee and was doing research on the internet. I found some investors on the internet. Can anybody share with me a letter or a template that I can sent to the investors, and see if I can look houses with their criteria?

Or if anybody has an idea on what to do next, I will appreciated it. Thanks

I bought the package and books about a year ago, glanced through the books, never got started with the program. I lost my job after 15 years and on unemployment.\

I couldn't seem to find a starting point. I have no money.
I don't understand how I could make this work, even after reading how everyone can.
If there is anyone out there that can thinks they might be able to find the right start button for me and find effective navigation sequences to create a game plan that works, I might have a chance, otherwise. I wasted my money again. thanks

You must do this yourself, determine what strategy in real estate you will pursue (a no money down strategy) make a plan and commit 100%. If you are depending on someone else to do this for you, this is not the business for you.
The easiest no money down strategy is assignment of contract.
1. Learn how to find true wholesale deals. No one will supply you with properties that are killer deals.
2. Build a list of real cash buyers. What good does it do if you have no one to sell it to.
3. This is the number one rule in real estate. No offers= No money made.

Good luck! Go over all the books and study material in earnest with a 110% committal to learn everything yourself, knowing no one is going to hand you anything. You can do this!!

Michael Mangham
MD Home Acquisitions LLC

Greetings everybody,

I just finished reading Dean's book "Profit From Real Estate RIGHT NOW!" and must say that I'm feeling excited and somewhat empowered, as well as overwhelmed! I have so many questions, I don't know where to begin. I realize now I should have jotted down notes while reading the book. I plan on re-reading the book again so that I feel confident about understanding all the techniques.
I'm 43, married, have a 10 year old son and I live in TX, south of Houston. I caught Dean's infomercial one night while I was out of town working (I'm a pipeline inspector). I had seen his pitch before but this one time I caught it, I really listened and decided to order his book(s.
Like most everybody on here, I too am looking for a better way of life for me and my family. It took me 2 1/2 days to read the book, I couldn't get through it fast enough! I have been pretty much away from my family since mid july, been home a couple of times, came home for a week for Thanksgiving, left back again, worked right up till 3 days before Christmas, and now DREAD having to fly back out to Michigan on this inspection project that will last for months! I am thankful that I have gainful employment, buy I am so torn about having to leave my family again.
I have been doing this for over 10 years now and I'm so tired of living out of a suitcase, the wife has been tired of me traveling for years, I'm glad she has stuck by me though. My only critique about Dean' book, would be, I wished he would have provided a play-by play scenario of each technique he mentions, taking the reader by the hand and try to show you EXACTLY, in order the steps needed to take for each technique, hope I made sense here?!
I pretty much get the jist of the ideas he presents, but I feel like it's up to the reader to "read between the lines" so to speak to figure some stuff out. So after reading the book, I get on here, read alot of great postings, and realize I have a ways to go before I make a move. Like for example, if you negotiate on a property, decide to keep it for yourself and rent it out for positive cash flow, the book doesn't deal with bad tenants or tax issues, though in the back of my mind I know you're going to have to deal with property taxes and what not. It just seems that some things were left unsaid, that's all, and now it's up to me to figure some things out, that's what causes paralysis in most of us I guess. Question; I have the other book, "YOUR TOWN, Your real Estate Profits!".....Is it recommended reading or do I have the info needed in the first book I read?
Like most of the folks that I'm reading on here, getting out of your comfort zone and taking action is obviously the biggest hurdle to overcome?
Just looking online at Craigslist in the real estate section this morning was intimidating to say the least, seeing the posts of other investors, looking for houses to buy, people looking for investors to build their buyer's list, etc.... you just get so pumped up after reading the book and then you see you have lots of competition out there, LoL!
I'm thinking the easiest technique to try and get my feet wet will be to try and find good deals in the area where I will be working, and then pass them off to other investors!? Thank you for any comments/suggestions, apologies upfront for rambling so long.....KO

Hi everyone,
I am a newbee to all of this and I need some advice. I found a nice home built in 2003 in a very nice area listed as a rent to own, 4BR 2 1/2 Ba 2 car attached garage asking price 103K, but the home does not have a basement. Would you see this as a negative in the purchase of this home?
Thank You

That is normally called a patio home, they are getting more popular with all the senior citizens.

Has anyone recently completed Greg's method of Lease Option? If so can you give us your step by step process? I'm just starting and need all the help I can get. Thank youl.

Milestone

Just read all Dean's books and look at Greg's videos on the left hand side of this page under "Student Resources" then click on "Real Estate Analysis System".

Greg has videos on several of the pages in there. That will help alot.

Then on the top left in the white box "Search/enter" type lease options and click your enter button (the magnifying glass is for looks only. Does nothing) and all kinds of info will come up.

You can also read my journal if you want. I have some info on there as I am focusing on L/Os.

Hope that helps.

Karen

what type of information, what do you have to do once you find an investor that will pay you a fee to find a deal for them?

I'm new to this and I've heard of bird dogging, but when i find an investor who will pay a bird dog fee,(of course that is when the investor closes the deal) how much and what information do I need to find out (how far do I need to go in the information process before it is an acceptable process in the bird dog researching?

Just finished reading Deans book "Profit from real estate RIGHT NOW" and just now getting started

on his other book "Be a real estate millionaire" Sounds very exciting but at the same time skeptical. Any advice or comments for Greeners to make a bunch of green

Hi Japanese
If you're still around and have access to short sale listing let me know, you find them and I will do the reach
and you get 20% of my net proceed

My name is chris and I am new here. I was hoping some one can give me a little help on how to identify a killer deal. I read deans book and tried to do some research on some houses and I get a little messed up with all the numbers from the different web sites. May be a check list of some sort or any suggestions would be greatly appreciated. Thanks a bunch. Chris S.

Hello everyone,

As you will determine on your own I am very new to this organization and to this business. I have held on to the information from Dean for a short while, however, day after day I find reasons to persure what i feel is right. so with that being said, my question is based on this.. after reading the first four chapters of "Be a Real Estate MIllionaire", how do i know what information is the correct information for me to be looking at, in relationship to researching "National Factors" & "Local Factors".

I have found websites that give me information of all five factors for the "National catagory" as well as the "local"..

Just a little confused folks & looking for some guidence.. How can I determine what is the correct information?

Thank you in advance
DSutton

I'm currently in college and totally broke, no job, and lots of free time. Is there any way to make some quick bird-dogging money? I've never done it before or even know how it works. I'd really like to get enough to get a rental property in the future.
Jon

i read the book several times and i got the big picture but i have no clue on the small details. like does it cost me any money to hire a real estate agent or a broker? do i only have to sign the 4 contracts? do i need to sign any other contracts after i find someone who wants to buy the house? Do i have to get the contracts in a more legit form or can i just use the ones on this website? and on the Investor Disclosure Statement and Seller's Acknowledgment what do i put in the blank where is says financing according to accepted criteria of _____ and its funding sources?

Hello everyone,
I'm just starting out and I was wondering what was the best online ad sites I can place an ad on. I'm looking to build a cash buyer's list. I've looked through newspapers(3) for investors for a whole week. (Thanx, Sully). Maybe I bought the papers during a bad week. Anyone have a suggestions? I would really appreciate it.

LMBO! I joined yesterday and have been reading the posts in order as my welcome e-mail suggested, and was very encouraged and impressed by the knowlegable responses from seasoned members. After 24 hours of reading in this forum, I noticed that the responses to questions have very much dwindled by this point. Are there still active, experienced members willing to help new ppl get started, or is it now every man for him/herself? It's pointless to read the same questions I have and see no response. Nevertheless, I will continue reading, and hope the activity picks back up again (kind of like the market ) I've read some GREAT responses and was impressed by the patience and gracousness of those responding..hope that continues.

Hey Suzy,

There's a bunch of people here & on facebook that will help you get started. Your best bet is to read through some threads on things your interested in doing & PM the people that are "the experts".

If you are just starting out, you might want to consider doing wholesale lease options.

Hope that helps,

JvM

I was afraid crickets were going to start chirping!

Jay is right! I have only been on here for a short while but the site is very busy and full of people who want to help just reach out and they will answer.

I have a question and I was wondering if someone has faced the same thing. I am submitting offers with a agent on a REO that is willing to do everything. She is a amazing agent, however, she says the the Banks here In California that are holding the REO's wants to see a Bank Statement not a POF from somewhere like coastal-Funding.com. Here is what I was told, "Also the only problem with those proof of funds letters isn't enough for our offers to be looked at. The banks are pretty strict and need a bank statement for these REOs"

I know they work on same, and not on others. How would you go by handling this small set back. Anyone please help and coaches please help too, Funds from those sales are my ticket to the Success Academy.

_______________________________________________________________________________
Darrell Ford
Lifetouch Properties LLC
www.lifetouchproperties.com
"Failure equals my Death, So I shall Not Fail."

Trying to get this system rolling but have no idea where to even start with all the info!
I'm feeling overwhelmed !
i keep hearing about this "rockbottom" group you have going and wondered where do you sign up how does it work and how can i make use of it as I'm currently ... well financially embarrassed quit frankly thus a no money down .. or low money down option is extreamly appealing to me
have a few real-estate friends and family that I will be using when I have some buyers ext. Yet how does one go about finding said buyers ?

I have 30 yrs in realeste business, Need to get back on my feet.I need to fine a investor or investors that will pay me money to fine them homes. Pleasse advise and where do goe to fine these investors. Thank Ray

Hello Everyone! this is my 1st post on the website and already I see what great support is shared with the new kids on the block. I just received my book "30 Days to Real Estate Cash" and am looking forward to learning/sharing with you who are successful.
House1 I would like to do the same as you by finding a duplex to live free and create cash flow. But first I must finish reading the book. Then I can ask better questions.

Cheers!!

Hello and Happy Holidays! I just finished reading Dean's book Be a Real Estate Millionaire and am excited to start my real estate investment career. Currently, I work full time in accounting. I work in New York and live in New Jersey. This is the very first time I'm trying out real estate. I would love to network and learn from fellow investors. If anyone is in the near area and would like to be generous with your time and knowledge, please reach out.
I will make 2012 the year I start towards becoming financially independent. Wishing you all many blessings in the new year. HAPPY NEW YEAR!

Ana

Welcome to the DG family!

I'm a REI rookie, too. Here's what I've been doing:
Attending REI club meetings, attending an auction or two, conducting Internet searches, RE-reading the books, learning about your target areas/neighborhoods, reading the DG blogs, and getting with like-minded people was/is a good launch. Submerge into this. Talk with realtors, contractors, rehabbers, wholesalers, seasoned investors, etc.---build your team! There's a lot to be learned out in the field...it's an ongoing education! I had been confused about some things at first glimpse, so I had to concentrate specifically on each subject matter to really grasp/absorb each concept. SO many possibilities! (Once I could see the WHOLE investing picture, I was on my way).
Follow Dean's instructions, it's all laid out.

Decide what YOUR goals are first; streamlining them. Then, move toward your goals. Any action, every day moves you forward. Decide what your game plan will be. Is it in wholesaling? Buy/rents? Fix n' Flips? Foreclosures? FSBOs? Seller financing? Buying ugly houses to wholesale to rehab buyers for renovations? Partnering? Who exactly will be your buyers? ...and so on. Whatever you choose, learn all you can about that specific arena. Plan your work, work your plan.

Also, practice doing the numbers with your calculator. Practice analyzing your own home and others around you, like Dean suggests. Use the Internet. Check sales comps (and/or rent comps); run numbers to see what exit strategies would/could be. Look for the DEALS that will profit you...there's plenty of houses out there! There's plenty of pickings. All shapes and sizes. And prices. Make sure it's a deal for you! Always keep in mind your exit strategy. Don't get off track! Don't get in over your head. Start small, like said by others.
Happy New Year!

PS. Great list, Zeek! Thanx!
PPS. Piquing my interest...what is a "conotel?" (A hybrid condo/motel?) Lemme know please.

I was wondering if you ever got an answer to your question. I myself am new to REI and have just started and am also looking at REO's out here in Southern California. I was going to use coasting or transactional funding myself to start out. Any information would be appreciated.