How To Lock Up and OWN 1,000,000.00 in Property NOW!

Where do I look? How do I make them trust me if I have no experience. All investors want to work people that have years of experience but I don't have any experience so why would they trust me to make profits for them?

I will give an answer any....ok

First you must read everything on rei that you can and thi forum is a great place to start. Also think about creating a marketing plan showing how you plan to move the properties you acquire. All I can tell you is, they will trust you only as much as you trust yourself.

ant you know as well as i do most homeowners whether they be investors willing to LEASE OPTION their "ESTATE" or just a regular "wealthy" guy, i would say that 80% of the sellers will NOT LEASE OPTION their property for that long, i mean, 2 years is pushing it....Now if you were able to do a LEASE OPTION for a year but, make your offer contingent upon "RIGHT TO EXTEND" like twice, i guess that would work. Is that your plan? Or do you really think you can find someone to do a LEASE OPTION for that long?

Anita,

That sounds like a very ambitious project, but with your varied business ownership experiences you should know all about the main drawback - MANAGEMENT. If it can be worked out, it should be very successful and profitable. You've got more guts than I have, gal! Good luck, I wish you the very best.

cactusbob

Well sully, you know what- I actually have 5 houses already that meet my criteria already that I started negotiating on this week that meet my requirements. They have all agreed to the 3 year lease option at current FMV. You see, I keep telling you guys about where I live, we had just in my local area over 35K foreclosures in the last year. So, to answer your question, yes, they are agreeing to it.

Thanks cactusbob,

No problem with management I have already worked that little bit out but thanks for the concern.

out there already! man, it's a investors DREAM out there, it just goes to show you how vastly real estate markets vary from one end of the U.S. to the other, and of course i'm NOT saying that this couldn't happen if ant was a neighboring state, it can vary like this anywhere, I just cant get over the market where ant is! hey ant, if your not having any problems with getting homeowners or investors to agree to those terms, thats AWESOME!

The market I am in is crazy. I have watched million dollar mansions a year ago sale for 400K right now. Homes that cost 350K last year are going for 180-240K. Lloydsap has witnessed what I tell you and it is remarkable how many homes are still available here both older ones and new never lived in ones.

There is a subdivision here - brand new - that does not run credit and you can BUY the house with just the 1st months note and closing cost. You pay into a trust for five years then finance it out.

Thats around 7K to own a brand new home around 2000 sq/ft - I am amazed everyday at the deals I find. I just wish I had more money...lol

Got 7K I can get you a house - no kidding.

Anyway - thanks for your enthusiasm and encouragement as usual.

No Way!?, oh my-, are you serious??!, wow, I just cant believe it!, i just told my girlfriend(krystal) and she darn near fell off the couch, lol, see i knew we were missing something out there, SULLY.

Anita - you never cease to amaze me! Here in NJ (just south of the big apple) a good deal is around 200-300K for a house that needs major rehab! I just finished my first flip and have my sights set on the next - but I have not been successful in my search for a good buy with minimum rehab that I can then rent. But my eyes (and my realtors) are open and looking. For now I am content to know I will fix and flip, but eventually I would like to own some properties as well. Thanks for all your input on this site!
Laura

and let you guys have all the fun. Anita is right! I was there last month for a funeral, and i went and visited Anita in her hometown in Lancaster and picked her brain. I thought since i was in LA for a funeral, migh as well kill two birds with one stone.

The last time i was in Lancaster was twenty years ago because one of my cousin married a young lady from there. Lancaster has grown over the years and i was amaze with the infrastructural and million dollars homes. I mean, the homes are amazing and Anita personally drove me around the city and showed me all the properties she had purchased or in the process of purchasing. Yeah Lorina, she even showed me the green house. It's amazing!

There were "for sale" signs in every street and i couldn't believe with my own eyes. Here i am here in a small town in Louisiana driving around for 45 minutes from my house just looking for properties, and in Lancaster where Anita resides, there are homes for sale in every street. You can tell by the lawn and the front yard that where the grass is dead and weeds everywhere, and of course you can't miss the "for sale" in the front yard.

It's an investor's dream and i'm working on a financial package deal that hopefully where i can do some business there. I know this is a such a big project and some of you may be overwhelmed with her vision and dreams, but if anybody can do it, is Anita. She has set her goals to become a millionaire in two years, and i have no doubt that with her plans in placed, doing her research and executing her game plans, she will be without a doubt become the next millionaire in a year or two.

Now that she reveals her master plan, i wish her nothing but the best. I wish i was living in the same area and trust me, everything Anita says about the homes and the location is absolutely correct. I know because i was there, and i've seen with my own two eyes. I've also seen her apartment complex, and her friend's house that she just recently purchase for 50k less. Congratulation Anita and know that you are my hero, lol.

Just you know Anita, i have a closing tomorrow at 3PM. Yeah, i called back the bank and asked to do few thing for me of which they did like lower my interest rate, etc. It will turn into a rental property and i will be making $200.00 cash flow. I know that's not much, but i bought the prpperty at 70% FMV. I have equity in place and i can always fix it up and re-sell it for more profit if i wanted to. Better yet, i don't have to do any repairs as the couple who have been living in the same house for over twenty are very happy with everything. I have several properties now since i purchased Dean's book back in March. You have helped so many of us in the forms and appreciate your love and concerns. Best wishes to all of you and if i can do it, anybody can do it.
LL

Nicely done Anita,

I will be curious to follow along with your progress!

And I believe you are right. When Anita sets her mind to something, there's not much that can stop her.
It was fun hearing about your trip from both of you. It's awesome that you got to see first-hand the deals that are to be had out there. I hope to go visit Anita (and others) myself sometime this next year. It has been a highlight of my summer getting to know the friends on DG and gaining insight from so many great people!

Rina

I live 3 hours south/east of Anita. I bought my house for $522,000 in Oct. 05. I put $300,000 down (Big mistake) the property appraised for $600,000 1 year ago. Are you ready for my current value now? $326,000. Read it and weep, I know I am. All this to say that Anita is right on and to teach you what I have learned. Diversify your money and leverage it to get you more property. We have to learn in the life the hard way sometimes but I am not going to let it beat me down. I am going to use this life lesson to propel me to bigger and better things.

Thanks for sharing that hard lesson.
If you can hold out, I'm sure you will see your home's value return. But you're right about leveraging your money, and diversifying. I guess that's why Dean teaches NMD is best. That way you're only risking OTHER people's money and you have more of your own to work with (and ENJOY. )

to bigger and better things,

Rina

I read the book 1 year too late and I didn't really understand how to read the market around me. At the same token who would have thought the market could change this dramatically. Now I will be all the wiser in the future. Cash is king. Anyhow, the lesson is learned and thanks Rina for the encouragement.

I guess they come in every area of our lives. Even REI. But it certainly is during those times that the winners clearly stand out by what they choose to make of it. (Like in the Finish Strong movie holt121 shared ) It's refreshing to see you choosing to STAY a winner, Troy. And keeping a positive attitude. My hat's off to you.

Rina

P.S. I, too, wish I would have "found" Dean and his book a LONG time ago.

That sucks! Mine was worth $235,000 when I bought it (not what I paid though) now it's only worth $134,000... Double ouch! That's quite a difference!! But I did make a good profit on my duplex, so you just never know... Right?

thank you all for your comments.

troy - I feel your pain

lloyd - thanks for the support

rina - what can i say - just do it.
Elena - thank you

thank you all for your comments.

troy - I feel your pain

lloyd - thanks for the support

rina - what can i say - just do it.
Elena - thank you

thank you all for your comments.

troy - I feel your pain

lloyd - thanks for the support

rina - what can i say - just do it.
Elena - thank you

see if it will work for you

Anita,

RIGHT ON Sister! THANK YOU!

SirJohn

Thanks for the support.. I think I will run for President now

Nice info

...as Carol Stinson put it.
Hi Anita. I just read your posts. Ive been on this site for about four months now and ive learned so much from this site. Ive purchased Deans three books (Be A Real Estate Millionaire, Profit From Real Estate Right Now) and currently reading Your Town Your Real Estate Profits. I am now creating my Buyers list by googling "I Buy Houses" and attending real estate auctions (so far so good). I plan on joining Deans Success Academy next week (had to save some funds so i could make it happen). Im looking into wholesaling properties due to the lack of funds but my goal is to own my own.
I ran into an investor a couple of weeks back and he mentioned to me that in order to lock up a deal, i would have to put the investor with the funding on the contract up front. That the lender wouldnt allow me to put my own name or LLC (working on LLC as well). Is this true? Any advise would be greatly appreciated. Thank you for your time in reading my concern. And congratulations on your success.
John

You can use your own name and use and/or assigns with it. You then assign the contract to your buyer. You can also use your LLC (name to be determined) as the buyer. Don't let them tell you no. Make it a contingency

Great post. Information was presently so even the novice could apply this strategy. I like the way you presented the strategy and I will most definitely add this to my tool box.

Yea I know we deal with ingredients and yeah I know men do cook and have cookbooks.

I like tool boxes. No offense. I like to get greasy under my finger nails.

I dont know what it is but I like your style

Thank you Anita for your correspondence. Its time for me to take action like so many others. PRACTICE MAKES PERFECTION! I hope to soon conduct business with you and your team. Take care.
John