Pursuing MY American Dream!

Well yes as you all see I haven't had any updates for the past few days and well because I've been sooo busy making those "next steps" to that FIRST deal and well I have been soo overwhelmed by all this PRICELESS information, trying to take it all in at one time and well I will say it has backfired a couple of times and well I'm just trying to take it a day at a time, trying to slow the roll here just a notch or two and take a few breathers from time to time. But it's just so EXCITING! I mean I just can't help it everyday I wake up and I know that's a day even closer to my first deal and I just try and be Superman and I know in reality I can't but I won't lie I do try and try hard. I know it will come and I will have the success I'm chasing down it just takes a little time and I've realized that. For the past few days well let me just fill you in the past five days......

1) I went to my county courthouse and skimmed through records for probate properties, notices of default and divorce filings that have recently been recorded but really there was no luck because the records are almost impossible to access and the ones they do have are 4 and 5 years old!

2) Networked with a few DG'ers and you know who you are out there and from that I know I have learned a lot from you!

3) Went through another lesson in the success academy and starting working on my target areas and researching those areas for all real estate factors that would affect me and my investing directly.....found out a few interesting things too!

4) Called on two properties about 10 minutes from where I live (One a foreclosure and the other a short sale) contacted the agent and went through the properties and some good news from the agent I found out was that she's going to be investing soon herself some way or another didn't get much detail. She's only a couple of years older than me and I even explained what I was doing and she said she was very interested to work with us and provide any help that would be needed ( OHH YEAH!).

5) Took a DAY OFF! Much needed I just had to I mean I was in over my head for awhile so had to take that breather!

6) Met up with a fellow DG member today and discussed a lot of information and strategies and from the looks of it could have some deals in the mix within the next 30 days or so! (SOOOO AMPED!!!!)

Well until the next update people........

I checked out your website and it looks GREAT!

Karen

I see that I haven't posted in several days! Wow time is really flying when your so busy with everything but I'm trying to keep the updates "updated" as possible but I think that it's all the excitement and motivation that really is keeping me in the game and seeing al the success and information here is just amazing and sometimes even OVERWHELMING as some of you may know. But just to give you all an update of what's been going on here lately.....

1) I attended my local REI club and met some awesome people and made a few connections even though I will say that I wish there would have been a few more people there because apparently this local club doesn't really have that many members but hey I'll take what's offered no complaints there but I hope to expand a little further as far as the club goes.

2) One of the members from the REI club actually called me from the business cards I handed out and said that he's got a property on contract and is closing on that this Friday and he told me he would give me a fee if I could find a buyer for the property so I am currently working on helping him get that buyer. (Fingers Crossed)

3) I have posted more ads on CL and generated a few more buyers for my "buyers list"

4) I typed up an email/fax for RE agents and realtors to send out letting them know what I expect and what I'm looking for in an agent and within 24 hours got a response and now I have an agent that used to be an investor herself but isn't anymore because she has said that she wants to focus on the agent side of the job but is willing to work with me and yes she has worked with investors before too, and I also have a meeting with her tomorrow to discuss further strategies and other information etc etc.

5) Still dealing with my paralysis of analysis disorder! HA! It's just that there's sooo much good priceless information here on this site and when I talk to other DG members and hearing their plans and successes etc etc that I try to take on everything at ONE TIME so I'm dealing with that........one day at a time!

Well until the next update......

Like I have said before. Slow down, who cares about what the other people on DG.com are doing. You have to pick ONE thing and stick with it. Don't jump around all over. Pick one path and follow it to the end. Start with assignments, learn how to run your numbers, make offers, lock up contracts, go to closing, GET PAID!

This one step at a time one day at a time. Wow I feel like an addict or something when saying it like that......but it is true I'm learning everyday and it's only a matter of time before it happens!!! And Lane your completely right about that. Just have to stay focused that's all!

I 100% agree with Lane, I like how you put down those steps! Run numbers, make offers, lock up the property and get paid at closing... Love it!

Ok Chase you and I can do it together....I am going to also take Lane's advice. I get on the internet and this site and my head just starts swimming due to the information that is right here at my finger tips. I am trying to learn to only take the information that has anything to do with what I am focusing on and let the rest go.

One step at a time. Thanks for sharing.

Even though we joke about being competitive, it isn't a race. We are all here for the long haul and have to set a solid foundation.

We will get there.

Karen

I completely agree with Lane and Matt, but sympathize with you at the same time. I too, have been guilty of falling into the same trap as you. I fell that is what has kept me from pulling the trigger to date. It's just the matter of not letting "analysis paralysis" and fear take over while the rest of the REI world passes us by. Their advice is so simple and we have to treat it as such. I'm with you; we both must take the "BEAST" head-on, not over-complicate things and just PUSH to make it happen!!

Hey Ga. REI friend, Just catching up on your journal. It is a curvy / hilly rd. just keep going through it. If you need any real estate comps / info. or just to kick some ideas around PM and I will try to get it for you. My FMLS and MLS does have some properties in that area.

Best Wishes!

-Dan

Why don't you just start by wholesaling? All you need to do is lock up a property for 65% of ARV minus repairs. Then mark it up 5% and resell(assign) it to your buyer. Simple!

A realtor as of TODAY!! I went and met with her and she is 110% on board for everything I have planned I still want to make a few more visits with her to discuss further strategies etc etc but for the most part everything is good to go with the two of us!

I also have FIVE properties I'm currently getting up on contract for an investor that needs properties RIGHT NOW so I'm going through and getting up some properties and getting them in line to get to my investor ASAP! I will update once I have everything done and have the check in hand.

I am also going through the success academy to keep updated on the basics and get that one step forward as well as Dean's think a little different program that I received awhile back so I'm getting back to the basics like some of the other DG'ers are telling me to do and start putting in some offers and get the "snowball effect" going to get those deals in and out the door and deposit those checks ($$$) in the bank!

There are a few certain people that are really helping me keep accountability of of everything that's going on to make sure I am making the progress that I need to be making and Just to say it for the record now.......and you know who you are but THANKS for giving me that extra push and that little bit of info etc etc

Another thing to people I have to hear a few different opinions on what some of you are doing as far as the "infrastructure" of the business i.e. 800 #, websites, buyers list, networking etc etc and this is SEPARATE from actually finding the properties and making offers just everything in that category. Pretty much how do YOU divide the work and make everything fall into place and get to the point of making offers and getting to the closing table with the check in hand?? Any opinions on what YOUR specific techniques and strategies would be greatly appreciated. I'm just trying to get a feel for what other DG'ers do in this situation.

...but others should hear it too. I got into the whole worrying about the infrastructure and the administrative part of my business but by doing only that it tends to pull you away and keep from taking action by actually putting offers in on properties. Lets make this clear, the ONLY way to make money in RE is to put in offers, without that there is no chance of making any money. This business requires that you master time managment so this is what I do. From the hours of 8-5 you need to be out learning about properties, walking through them, find out true ARV numbers, estimate repairs, etc. You need to be out there making offers and networking so that you can master that skill. After 5-6pm that is when you should be searching for properties to go through the next day, building your website, recording your 24 hour message, setting up LLC's, doing the success academy, learning on the DG site, searching forums, etc. You must learn to be able to go out and use your time wisely. Do not let the fear of not knowing every detail make you shy away from taking action and actually going out to make offers. At the worst you will learn how to do it and if you get one accepted you will learn the whole process. There is so much more you can learn by being out there with people that do it then sit behind a computer and pretend you are doing it. I hope this motivates people to get going. These are all of the things I have learned first hand and if I can help just one person then it is worth it to share...

Get out there and network, have fun, put in offers, get properties locked up, learn how closing works, actually go assign properties, just learn the process because ultimately that is the ONLY way you will cash a check...

was my thought all along. Learn enough to go out and do it and then learn the rest along the way!

I decided to put that in a forum post too for those who won't see this post... There is nothing wrong with learning along the way.

Congrats on finding a realtor! I hope she comes through for you.

The one I met with yesterday and was so hyped about has not sent me the info today. I dropped him an email a while ago. Hope I hear back I would like to look over the list and set up some props to see this w/e.

Going to one of Dean's auction here tomorrow. Should be interesting.

Karen

I'm excited because you're getting it done! Something everyday ... I like that!

I got a little late start on today but I think I made some good progress on a few things so I'm satisfied (for the most part) with what I accomplished and it is as follows:

I went out and scoped out a few different neighborhoods with some big potential but the first property I wanted to see was one that the main stream investor would not look for it was an REO and was going for 140k and comps and tax assessments were going anywhere from 200-400k and the very few surrounding properties were assessed in the low 300's and the 140k property has been on market for 171 days and has ALL NEW upgrades through and through but my question is if there are properties that are being sold and assessed in the area for double even triple the price WHY is it NOT selling. It's one of two things 1) There are no buyers in that area and investors do not want anything to do with that area. 2) There are hidden problems within the property i.e. structural damage, foundation problems etc.

I called my realtor and asked to see the property but she proceeded to ask if I was pre qual'd for a loan and I said no and so she didn't want me to look at the property until I have a price range to work with to buy a home for MYSELF, but that's not the point here so she has put me off course and now I'm gonna wait til monday rolls around and go thru this property!!!

I found an abandoned distressed property in a nice neighborhood. I've always been told to look for the ugly house in a nice neighborhood and dang sure enough if this isn't an UGLY house in a real nice subdivision so I'll be looking at this property tomorrow morning and running a few numbers and see if I can make something out of it!

Spoke with a very wise and admired DG'er. I respect this man and look up to him and is a great mentor for anyone that wants to make it in this business and I am keeping steady contact with him and he knows who he is!! He has given me a few pointers and things to watch out for etc etc and maybe one day do some deals with him? Who knows!

I'm currently as I write this am going through some other details with the business and getting ahead of the game as much as I can to get the little things done and out of the way so I can focus on the numbers and making offers talking to investors etc during business hours!! IT CAN and WILL be DONE!!!

I do need some ideas for a little organizational help though I will admit that I have a problem sometimes trying to organize my tasks and paperwork etc etc during the day and even in my down time when I'm at home at night going thru the academy and buyer list, etc I'm pretty sure you all get the picture on that one.

I'm taking this one day at a time and I want to state that (for the record) I may not move as fast as others and I see a lot of seasoned investors and some of the new guys telling everyone JUST GO FOR IT! On that note though sometimes I can't just go for it. I have a military background and until coming into REI all I know is details and making sure all T's are crossed and i's are dotted before making the first big move and I see that and will say this I do this because that's what I've been taught "ATTENTION TO DETAIL SOLDIER" and even though people's lives are not put in a life or death situation their pockets and bank accounts are and that's an important thing no matter the economy how much you make a year etc etc......everyone needs that paycheck at the end of the day and I DO NOT want to risk my bank account or my investors for a MAJOR mistake that should have not happened because I just decided to GO MAKE MISTAKES....I understand that sometimes that's the best way to learn but with what has been instilled all this time I cannot turn away from the details sometimes that just how it is for me. Now like i mentioned I am NOT bashing on anyone that wants to just go out there and take a chance....because taking action is apart of the equation but I know and I guess I have a LOT of G.I. in me but there's no taking chances and messing up or making mistakes in my field of work and by no means......by no means am I saying that I'm gonna sit behind a laptop and shuffle paperwork forever and expect to make money.....because point blank it can't happen that way......at least not for me. I am determined and motivated more than anything I WILL take the action needed to get it done and if you question that go check out my journal. I see there has been many of DG members on here that took time to get their first deal, now whether or not they wanted to take that extra time because they thought that that was the best thing for them or some things prevented them from making it at a certain time is something I DO NOT know.

If I can take Mr. Randy Vaughn I know I read a post of his and he plainly stated that it took him NINE months to get his first deal....and after that (and I may be wrong about this next one) but he made around 50 deals in 18 months after he got his first deal. So what I want to say is that some people will take more time than others there is no need to put more pressure on anyone than they can handle any by no means am I saying that I am feeling pressured all the time but at times yes I have. I have only been in REI for about six or seven weeks now and am making good progress and I also know that there are others that started out in their 2nd and 3rd week and made a deal and I recently found some good information about those types of deals but that will be for another time. So if you are on of the ones that wants to take a little time to really cross those T's and dot those i's then there is no shame in that yes it may take longer than expected to get that first deal but as long as you know your own the right path and making the progress needed then there's no reason why it wouldn't hurt to take the extra time to pay attention to detail here and there and do what needs to be done so you have that confidence in the knowledge and information to get yourself to the closing table and make that deal. If I may say so too that I know it's inevitable to make mistakes and noone can avoid them no matter the situation or how big or small it is it will happen and I know for myself I accept that and will take it in stride and keep pushing forward when they appear at my front door so to say. There is a lot to learn whether you have been doing this for five minuted or twenty years......there's always something to learn and you will always make mistakes along the journey to success. So in saying that I would love to hear anyone's stuggle and the pressures and mistakes they have made in the past that brought them to where they are today and how it has shaped them to be a better investor and better person all around!!

Until the next update.....

Good post Chase. That is great motivation for alot of people. I actually advise putting that up in a new forum... Keep on keepin on!

and I do have to add to one thing I see some of spelling is way off and the bad thing is I even CORRECTED it before I published it! Ehh just the way it goes I can't control everything (ahhh....Sighs)

Great post! You can do it! I know you will. If that is the way you were trained then stick to it! You will get those deals soon!

Definitely man! Oh and I've got a few things to fill you in on too Lane!

Gut feeling ... fortitude ... attitude
Your mind set is clear; you are determined to get to where you want to go; you are making preparations to take the journey with full confidence of a successful arrival.

I've been at this for even less time than you have; but as you are probably aware, I've been watching you. "If this new guy can do it, let me glean from his footsteps; take note of the "P's" & "Q's" of this new guy. Learn from your business family!

Good going Chase.

You are wise beyond your years.

I am very proud of you.

You will be where ever you decide you will be. And you will get there when you are supposed to get there.

Karen

Hey how is everything going with your new Realtor? Hopefully she is doing great on your team, keep up the good work!

Thanks for the comments and Karen you couldn't have hit the nail on the head any better! You're absolutely right and a big thank you for the kind words that means more than you know, and not to brag by any means I have had people tell me that time and time again so I think I have my mind in the right place and I know where I want to go in life! J. Alviar thanks that gives me that much more motivation to keep moving forward and I look forward to seeing you successes also! Just don't give up for anything or anyone!!!

You are very welcome!

I speak from my heart. Sometimes people like it, sometimes not so much.

never disappoint I'll say that much, and you I see that I haven't posted my updates but it's 1:35 a.m. been neck deep in real estate all day! Just so tired! I guess I will have to update tomorrow!

Well I will say today is sunday and I took some time to hangout with the family and focus on the down time. As far as the past 3 days go well this is what I have:

I've added another 2 CASH buyers to my list and have all their criteria.

I went out and looked at several different properties and found one that I'm VERY interested in and have another investor that wants to go through and make it a rehab deal. We are still going through the details and will be meeting again sometime next week. So that's another update I will be posting about no question about that!!

I also have received information from this investor that his top dollar investor $$$$$$=BIG BIG MONEY wants me to find him some commercial property and bring it to him as soon as possible so I'll be looking forward to be getting a nice little bird dog fee....just for finding them I will NOT be doing any number crunching, contracts etc etc for this.....because honestly commercial kinda scares me! LOL!

I will hopefully start putting in offers by the end of the week so I'm amped about that.....as long as everything goes the way I want and I make the progress I intend to make.

There is one problem I do want to focus on and that's a little more organizational techniques to help keep me in line with everything I'm having problems finding time to actually sit down a make a plan to get EVERYTHING organized and well several other key details but I'm trying not to worry too much about it!

Action during the day, business/organization at night! you are killin it bro! Mike told me a little guide for commercial that he may or may not have told you. Ask what the net operating income is and multiply that by ten. If the property brings $75,000 in every year then the property is worht $750,000 and you should offer no more then that. That will be a good guideline to use, of course there are exceptions as always.