I have been trying this REI thing and I keep getting stuck. I don't know how to get past my original fears. I have 2 REA who have said they have no problem making low ball offers. I just haven't made any offers since my first one was denied.I really could use some advice as what i need to do just to get going. I'm scared that I will make an offer it will be accepted and I don't have any buyers. And I will lose the house. I guess I need to just do it and stop being scared, but I just seem to get stuck. I have done research on about 50 properties and I know where there are great deals to be had but I have no buyers in place. Any help would be appreciated. Thanks again DG family.
Chance Property Investments
A Chance Worth Taking
Bill
Only You stand in your way!!!! So get out of the way!!!
Great words to live by, I just need to follow them.
You sound like you lack essential preparation.
You are missing two things:
1) a buyers list
2) back-up funding to lock-up a steal of a deal in case you cannot assign it right away
When you have a buyers list, you can ask them specifically what they are looking for. You may find (what you deem to be) a really great deal, but if your buyers aren't looking for it, you still have no one to sell it or assign it to.
You need to build your business first. I have listed several free Web 2.0 sites where you can build your web prescence and attract buyers and sellers.
Secondy, you need to find a source of financing in case you need/want to lock up a great deal. Of course, it would be optimal to have a buyer ready, but you have no leverage if don't have a buyer or any funding.
If you have poor personal credit, you can start an LLC and build a business credit profile. You should start an LLC anyway. There is also a company that is promoted by DG that will provide proof of funds at closing. I can't remeber who that is, but maybe someone else will read this and provide that company information.
Cyle Greenwell, President
Max Enterprises, Inc
612-437-7960
maxenterprisesinc@****
You can do it no problem! You just need the confidence to do it. Although I agree with cyle on the buyers list and funding, you can still do this. Just remember, even if you can't find a buyer to assign the property to then you always have your contingencies in the offer to back out. Make sure you cover your butt. What area are you trying to invest in? Was it New Jersey?
Success and Nothing Less!
My area Im trying to invest in is CT. I appreciate all your advice and help. Cyle where are these websites you say you have? I would love to start a website and get my name out there. Coastel Funding is where you can get a proof of funds. I know those things I just cant seem to find buyers. Everytime I contact a buyer and ask what they are looking for in a house and they tell me to call when I have something.
These are two forum posts that you might want to read.
Is the "Free Website" provided by Dean really Free?
Using Social Media to Find Secret Deals
Cyle Greenwell, President
Max Enterprises, Inc
612-437-7960
maxenterprisesinc@****
I have to disagree on having a buyers list first. Anita Wilson even mentioned that to me. You get a good deal under contract, the buyers will show up.
Once under contract advertise hard or even use another wholesalers buyers list with some profit splitting.
As for the fear, you have to get comfortable with discomfort and it looks like your already doing that. If your mind is creating fear, go against your mind, because that's what your suppose to do to become successful. Reprogram your mind.
That's what I did and I'm still working on it, The Mind set...
Jason S.
San Diego, CA.
**All CASH House Buyer!**
Refer Us To Neighbors, Friends & Family, Earn $1,000
LIKE my FB page http://www.facebook.com/JandBHouseSolutions
If not, then watch it. I always find that if im nervous about something, I just re-read a section or two of the book and watch some video blogs by Dean and Im back on track full of confidence.
Reading the book again in sections that apply to what im having problems with is really helpful too because it will often remind me of something that I was overlooking simply because im scared or nervous.
You are on the right track and you can do this!!! You just gotta do it. Even if you get turned down on an offer. At least youre making offers. Also, like Cyle pointed out, get a buyers list together. Remember all the techniques Dean gives us in his book to attract motivated buyers. Create a website, get business cards, post signs along high traffic areas, post flyers on bulletin boards at the local market, apt's., the library, ask hopsitals if they can include your flyer in packets that they provide to expecting families.
You have the knowledge now put it to work! We are all here for you Just stay strong and get that deal!
I wish you the best and I hope to hear from you soon!
***
Tracy Lynn
My daily journal link.
I'd love to hear from you.
http://www.deangraziosi.com/real-estate-forums/investing-journals/29564/...
I just wanted to thank everyone for responding to my post. You all give great advice I know I need to change my thinking I am working on that everyday. I just sent a letter to my agent about some houses I was interested in and I'm waiting to hear back. Wish me luck, I just need to move forward and get it done. Best of luck to everyone, Have a great day and i hope you all have great success.
Bill,
you are not alone here, I felt the same way.
Proof of Funds letters from CashForMyClosing.com are
a completely free service that you may use to submit with your offers.
Best of luck
I'm a newbie as of yesterday. I just finished Dean's new book! Awesome stuff!! Taking notes on everything people have posted. Thank you everyone! I don't recall reading anything on proof of funds. Could someone please explain this a little to me?
by a denial. There are plenty of other deals out there. Keep persevering!
"I will NOT BE BROKE! ANYMORE!"
In the name of Allah, the Beneficent,
the Merciful.
22.He is Allah besides Whom there is no God: The Knower of the unseen and the seen; He is the Beneficent, the Merciful.
23. He is Allah besides Whom there is no God: the King, the Holy, the Author of Peace,the Granter of Security, Guardian over all, the Mighty, the Supreme, the Possessor of greatness. Glory be to Allah from that which they set up (with Him)!
24. He is Allah: the Creator, the Maker, the Fashioner: His are the most beautiful names. Whatever is in the heavens and the earth declares His glory: and He is the Mighty, the Wise.
Hi Hitmen9 where in Ct are you? I also live in CT, maybe we can work together on a few deals.
What doesn't kill me,,makes me stronger!
Maybe you need an investor who has done this to physically show you how to do this. Some people learn best at being shown what to do and will excell at that area once they have been shown. What it sounds like to me is that you fear the unknown. All of the worse possiblities that could happen. Trust me, I was like you, I waited 30 days, did a little bit of this and did a little bit of that until I was comfortable to make it go through all the way. I locked up my first property, and I have yet to know what will happen when I assign this deal. I have never done this, and I am nervous as all get out. I wish I had someone that could say "hey destrie, come follow this property from start to finish" but I live in Iowa, and many there aren't a whole lot of wholesalers around this area. So, I have to live and learn, make sure my contigencies are in place just incase I have to back out of the deal. Many of my investors stated that to call them back when I had a property. So, I have re-worded how I talk to them as "I might be getting a property in this area, if I get this property, would you be interested and how fast could you close on this deal?". The big dog investors that buy multiple properties a month won't want to mess around with someone who doesn't have properties. They want the ones that have the killer deals, that's how they make their $$$. Just get on the horse, and go do it.
Destrie
Destrie
Failure Is Not An Option