I called the support line the other day to explain how all my offers are being rejected and properties are being sold for over asking price in my area which is N. California Bay Area. I explained that I have adjusted the amount of my offers from 30% below FMV to about 15% and I'm still not having any luck. The coach went on to say that he knows the CA. market is to competitive and he does not know of any investors buying in CA. and I should look out of state. Well that pretty much took the wind out of my sail completely. I have been working so hard over the last 5 months making offer after offer and no luck. My wife and I attended a workshop in October of 2011 and they insisted that this system will work any where including CA. and we should start in our area. I'm now starting to feel that we made a mistake by investing so much money into this system. I really would like to hear from someone in CA that can validate the DG system with documented proof or are you having the same experience as me.
Day by day in every way I am becoming more successful!
Your absolutely right, I have had an attitude adjustment after reading all the responses to my post. I've been re-reading them over the last few days so it will all sink in completely. I just read your bio and I am inspired by your story and hope you the best.
I have not called the coaches yet because I wanted to take a few days to re-group and be in the right mindset before I do talk to them. I'm planning on calling the support line Thursday and ask them to help me to start taking a more creative approach. Again I know that it's going to take time and a lot of work but I'm determined to do what it takes so I can give my wife and my little girl the life they deserve. So thanks again to everyone showing their support and giving thier advice
Day by day in every way I am becoming more successful!
I am in San Diego CA and I also am going through the same !!!!
The advisory support hot line is great they had been a great support team wonderful help very time I call
I have not called the coaches yet because I wanted to take a few days to re-group and be in the right mindset before I do talk to them. I'm planning on calling the support line Thursday and ask them to help me to start taking a more creative approach. Again I know that it's going to take time and a lot of work but I'm determined to do what it takes so I can give my wife and my little girl the life they deserve. So thanks again to everyone showing their support and giving thier advice
As many have said, CA is a jumping state, but not sure who would have known that CA was not easy to start in. My wife and I live in Fairfax in Marin County, at the northern end of the Bay Area (Try a search and see what the houses go for here....). We started with the free intro Feb 2012, went to the 3-day workshop, followed up with the 3-day "boots on the ground", and went to Buying Summit in the summer, purchased a Tax Lien on a large duplex in NY, and have been looking/submitting offers all around, including CA. We are about to close on an Income Property in Iowa that will return a cash flow of $1000-1500/month after expenses.
Every educational information I've seen and read, along with the instructors at events have ALL SAID that although CA IS POSSIBLE, they tend to invest, buy, flip, out of CA because the process is easier, return is more, etc.
After everything I've seen and read, I find it hard to believe that anyone following Dean's system would not understand this. For all the people who say that they are following it, ask yourself about all of the 25:1 processes:
Have you made 25+ offers using the .7-.8 of list price ratio?
Have you interviewed 25+ people per position(realator, contractor, title co, etc.) in your power team?
Do you have 5-10 cash buyers ready to purchase non-loanable/wholesale/cash only offers from you?
Have you put out your 25 YELLOW bandit signs?
Have you posted your craigslist ads?
Have you put together your power team?
One thing that Dean said at the Buying Summit (June 2012) that really stuck with us was that many people say that Dean's system doesn't work, that the process is flawed, "not in my area", etc. To this he asks all of the questions I've posted and more- Point being, don't put the fault in Dean's system if you're not using it.
We, personally, are still having issues with our first deals, incuding getting over the "looking at property" hang-ups. Main thing for everyone to remember with income property is "YOU DON'T HAVE TO LIVE THERE!" We know that to be successful as a REI, you need to build a power team, and allow them to make judgement calls for you. I'd say that giving up the "control" issue is the hardest for most people to get over (esp if properties are driving distance away). We also want to invest in Stockton and surrounding cities (because whole area is on sale) and maybe even Oakland (same reasons).
Although we are becoming successful, it was not an easy process. Anyone who thinks what they are getting into is easy should probably re-read the materials, videos, etc. Exciting as it is, if you continue to try to "do it all," you will never have the FREEDOM that you seek, the whole reason you're doing this in the first place. Does everyone here think that Dean and Matt go through 70-100 deal/month doing all the work themselves in one area- impossible!!!
DG's products are great, and this forum is an amazing resource, but just remember there are more resources out there.
Insanity is doing the same thing over and over and expecting the same result.
So...
If what you are doing now is not working, switch it up.
Personally I am glad that I did not have any LOCAL success. My persistence turned my entrepreneurial disposition into a complete lifestyle change. Now I have 2 national businesses, primarily internet based, several more smaller business opportunities, and a few larger ones in the works.
Leverage.
Production increased by efficiency which is increased by well developed systems.
I know there are a lot of wholesalers out there who are frustrated. So I am in the process of creating a one stop shop for ALL types of REInvestors. It should be released in one to two weeks and I will notify my entire family here at DG.com.
For market analysis check out:
http://pips-llc.com/REI-Source/Our-Affiliates/Housing-Alerts.html#.UUsJR...
Emerging Trends Publication
Blitz Wholesaling-- The webinar mentions use of Microsoft Mappoint because it shows you income down to the census tract level, many are within a zipcode. The guru guy claims that income correlates to the comps, so it will help you in evaluating which comps you should consider and throw out.
I personally have not tried this approach but it sounded legit.
If you dont have a website I highly recommend it.
It is very cheap and easy to register a domain, buy hosting and throw wordpress on it. (if not at least use facebook and linked in)
Also Fiverr
I also have a VERY GOOD system for finding the best RE Agents, let me know if you would like to know how, although i am sure i posted it here somewhere you could probably find it by just searching my posts.
Persistence pays off.
"An investment in knowledge always pays the best interest." -Benjamin Franklin
Follow my Video JournaL: http://www.deangraziosi.com/real-estate-forums/investing-journals/113038...
These results are NOT average. They're achieved by people with well
above average work ethics who studied the materials and applied them.
The average user of this program doesn't do anything with the
materials. The average result is ZERO.
I'm sorry I'm just seeing this post now. Do not lose hope, for when you lose hope and you give up you surely will NOT succeed. Just remember that anywhere people live, people are buying houses. And also remember that in California there are many investors. Don't look at them has your competition. Find them. These investors are your buyers. (But build relationships!!!)
The key to success in California is networking and relationships; it always has been. I've said it time and time again; your network is equal to your net worth.
With that said though, It did take me a very long time tweaking a little bit at a time to figure out what works here in Southern California. And being more of an introvert, networking is not the easiest thing for me to do. So, if I can do this, a stay at home mom of four young children ages 1,3,10 and 11 when I started ( and I homeschooled them 2 of those years); here in Southern California (Good ol' Los Angeles), surrounded by naysayers who tell me I can't do it and I'm crazy, what excuse can be given?
Wholesaling here is NOT easy; but I have proven to myself and made it my mission this year to prove that it can be done. I've had quite the many adventures as well doing this. Had some fun and made quite a bit of money. Met a lot of buyers, investors and other people who were very impressed with my tenacity to not give up and knowledge; Impressed a few investors so much they give me their money to do my own deals without any of my own money into it.
I didn't do it by accident. I have had to be persistent, I have had to stand up to sharks in this industry (Do you know how many wholesalers try to circumvent you in California?), I have had to fight my way through, I have had to prove myself, I have had to fail repeatedly over and over and over again. (It isn't just a Michael Jordan quote... It's my mantra.) I have had to brush myself off, walk away, and just start again. It is NOT easy; It is a complete challenge.
But guess what? I thrive on overcoming obstacles and challenges. You have to be incredibly creative to make this happen. I have gone through probably more than 2000 agents. I have a good 4 I trust. 4!!! A whopping 1 in 500!!!
After investing here in Southern California, my next adventure quest is to go out of state and I'm sure it's going to be so much easier. But proving to myself that this could be done right here in my own backyard was a mission I took on this year because I did not try for two years to wholesale here to get nowhere and get one small Wholesale deal. But that one wholesale deal let me know one thing. IT WORKS!!! I refused to stop 3 feet short of gold.
You have to go in knowing that this is not a get rich quick scheme. You have to go in knowing this will be some work. You have to go in knowing that if the problem presents itself, you have to take the bull by the horns and create a solution And create deals out of nowhere. You have to go in with confidence (even when you aren't!!). You have to go in knowing what you want and how to get it (and this includes using other people's expertise... you have the coaches to call at ANY time. Use it. Wear it out. Call them 10 times a day if you have to. And if you dont like one of the answers you get; hang up and call again to talk to someone else (I did that a lot
) You can't look at the plethora of other investors and wholesalers out here as a threat to you. You have to create a unique service that you provide to your buyers and agents. You have to be creative, and think outside the box.
Now I'm curious, what was the name of the coach you talked to? I would love to talk to that person. Don't worry, I'm nice.
Don't listen to the naysayers. It can be done!