OfflineJust closed on my sixth deal just in time before the new year. I started this journey in June and have since done 6 deals cashflowing approx 1400/ month and have increased my net worth by approx. 250,000.
I just wanted to post this to show that it is totally possible to accomplish whatever you desire. I remember buying Deans book off the tv, I think 2 years ago in January. I was absorbing that book every day, every lunch break at work and about every spare minute in between. To say the very least I was bit by the bug, I was totally hooked. I read nearly everything I could get my hands on ( and still do ).
Finally I stepped out of my shell and started applying a bit of my new knowledge and to my disappointment, NOTHING HAPPENED! At that time I blamed it on everything else, in reality it was all my fault, I wasn't applying myself like one really needs to in order to change their life.
I gave up on my dreams of being a rei investor and went back to the daily grind in a factory working 12 hour days six to seven days a week. Months later my wife and I were having a garage sell and I was going through the basement trying to figure out what to get rid of, and I found Deans book, again! And again I absorbed it and wet my appetite!
This time things changed, I happened to meet a guy at a seminar, we partnered up and the rest is history. Our success to this point I can honestly say is largely do to Deans book, because I have applied so many things to each deal and may I say I have yet to use any money of my own!
So to Dean and the success academy I wish you a very merry Christmas, you have truly changed my life. And to anyone that hasn't had the success you desire, don't give up your time is near.
Thank goodness you were able to find your way back to RE!!!
Please share details with us each of your deals. Wholesale? Assignments? L/O? Profit?
We would love to hear! It helps to keep us motivated and we love sharing your success.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Each deal has been purchased through a hard money lender and refinanced immediately through a bank with a 70% loan. We have enough equity to where we weren't required to put anything down. The bank we have been working with was actually letting us do an early refi... meaning they would have it appraised and whatever 70% of the appraised value was that dwould be our mortgage. It always worked out perfectly, it seemed to always give us enough to do the rehab and sometimes a little to pocket. Here's how the deals look...
#1 purchased for 13,800. rehab of 10,000 and appraised for 55,000
#2 purchased for 25,000. rehab of 15,000 and appraised for 72,000
#3 purchased for 31,000. rehab of 17,000 and appraised for 94,000
#4 purchased for 69,000. rehab of 2,500 and appraised for 115,000
#5 purchased for 52,600. rehab of 10,000 and appraised for 103,000
#6 purchased for 47,200. rehab of 10,000 and appraised for 110,000
Congratulations on your deals. Just interested where did you get your clients?
you have a good little program going on for yourself. Keep it going!!!
Always Looking to Acquire Houses | Always Looking to Amaze Investors
not sure what you mean by clients? If you mean hard money lenders, most were with a local lender and one out of state.
not sure what you mean.
QUESTION ARE THESE PROPERTIES MULTIFAMILY HOUSES JUST CURIOUS
all single family homes
Good for you! Sounds like you did some great deals!
Keep up the good work!
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
I think Coloradorockies was referring to the actual sellers and how you found them.... I too am curious as to where you found them. Regardless, sounds like you definately have a Great system in place. Congrats and much continued success.
Lenee
www.allstarhouses.com
~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~
I appreciate you posting that you bought Dean's book, read it and other things, but nothing happened when you tried to apply your knowledge. Then, two years later after picking up his book again, you did your first deal. Now after 6 deals, your future is bright. Your type of story also helps to keep me motivted because you tried and tried again before you got the ball rolling. Keep up the momentum in 2011!
Sounds like you are on the right path. Keep up the great work and best wishes for 2011!
Rick
Rick Merritt
Trident Realty, LLC
Weak is he who permits his thoughts to control his actions; Strong is he who forces his actions to control his thoughts. --Og Mandino
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Hi, Markl:
I am in the similar situation. I was very excited when I purchased Dean's books in early 2009 and even enrolled in Success Academy. But right after that, my relationship with my husband went really bad, we decided to divorce and the legal procedure is still going on, long story short, I realize I still won't want to give up my dream in REI. Here I am back again. Congratulations on your success. Your story is inspiring. I will keep at it until I can realize my dream like you did.
I am not sure, can I still go back to Success Academy program even it is been a while?
...Congratualtions on your 6 deals. Keep up the good work. There are so many great tips and techniques in Dean's books I know you will keep locating tehse great deals. Good luck with your future deals. Believe and Achieve!
- Joe
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I know you said you used hard money to purchase...but I know they won't give you 100%... The bank is doing the re-fi and giving you a mortgage on the appraised amount, then you are paying back the HM... Just curious how you put this together and got the banks to work so well with you...are these REO's or private owners or MLS properties?
Barbara
thats great sounds good keep up the good work!!!!!
very inspiring to hear you went back at it after thinking it was not time.tHIS shows us not to give up and know in your mind you can make it happen as mark did !!
awesome mark !! keep those deals rockin !!
jay
Click Here For homepage www.jaysthilaire.com
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6 in 6, well done. Will 2011 be 12 in 12 or 24 in 12? Congrats.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
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In what part of the country are you? I looked on your bio but no info...
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Hey Mark,
Congratulations on the deals... Your accomplishments sound promising to all of us. I am glad to hear that you found a bank that would let you refinance the deals for what they are worth. A number of the large banks will only let you refinance new purchases for the purchase price the first year, I always thought that was crazy as the bank assets are protected if they are only financing 70% of the deal.
If you accomplished all that you have on only 6 months, imagine what you will do in 2011?
Much success to you in the coming years.
Ty
Yesterday is history, Tomorrow is a mystery, and Today is a gift...
Ethel Griffin
...So don't throw away a gift, do it today as tomorrow is not promised.
Outstanding! Did you use the 25-1 System by any chance to find your deals? If not, please share what was successful for you...beside not giving up and following thru. Continued success for the years ahead. Semper Fi. D-LO
GREAT JOB Mark!!! Keep-on keepin'-on! Happy New Year brother.
Attract Private Investors to fund your deals so you can do more deals while using Other People's Money (OPM). For more info go to:
http://www.mcssl.com/app/aftrack.asp?afid=1029023
Regards,
John <>< Future DG & DL REI Billionaire
ASPEN PROPERTIES "I BUY (ALL CA$H), HOLD, LEASE & SELL Commercial and Residential Properties" ANY LOCATION, ANY CONDITION, ANY PRICE
http://ctaffordablehomesforall.usapropertywholesale.com/
I'm so happy for you, Mark! I also bought my first "Dean Graziosi" book in the beginning of '09 and inhaled it. I've yet to do my first deal, but although I haven't given up it's so heartening to hear that there are others who may not have made their goals right away but still ultimately achieved! I plan to follow in your footsteps and those of many other successful people on here. Congrats to you!
Sounds like you are well on your way to a GREAT New Year for 2011.
Kay
Are you looking for anyone else to work with? I am in the quad cities.
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"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
I have also used a private lender on 2 SFR purchases. After 6 months, I was able to refi the first one at 75% of appraised value. Was able to pay off lender and rehab bills plus I had enough to clean up our family bills and put a bunch in the bank. My private lender was so pleased, he funded my next purchase. I am planning on a refi on this property after 6 months of seasoning. My question to you is, how did you find a bank that would do a refi on an appraised value after such a short time?
It's exciting to hear your story! Congratulations! Thats exactly how most of my deals were done this year, with the early appraisal and refi set-up. So glad you had such great success too!! I'm guessing you used a local bank? In-house loan product? Everyone should be checking with their small local banks to see what they have available for investors. You can find AWESOME opportuntities, just like you've shared!
And congrats on finding that book again, picking it up, and being DETERMINED to make it work! You will inspire so many to not give up!
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
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My first three deals were all probate (estate) deals. I had a realtor that was shotgunning 30 offers per week and within two weeks three where accepted.
The future is brighter by the day! In fact we just got #7 accepted the other day.
assessed for 135,000 and got it for 65,000 and needs minimal work.
I remember speaking with Jeff Jensen from the success team and he said they will show me how to but properties at as little as 30-40 cents on the dollar, although in near disbelief I was more than willing to learn!
Opportunities are everywhere, we just have to desire them enough and take action!
Don't ever stop. Imagine what life could be if you reached your dreams, then realize what will happen if you change nothing. You will never regret your efforts, but you will always regret not putting forth effort. Have a wonderful year!