Training costs and materials

Bump
Surely this can be resolved in some way! Any updates?

http://www.governmentdealfunding.com/

find yours
us.gov.grants

We ran into another roadblock this week being told we absolutely have to have 10% earnest money in order to even put an offer on any REO's. Frustration is getting the best of us and our debt and our stress level are at their peaks. Before we started all of this, at least our heads were above water, now we are drowning in debt after paying over $50,000 for training. We have no money to put 10% in earnest money down on anything. We need financing ideas fast! Got any???

Still paying for our last ones. Nice try though! Why can't people just give you some ideas and info out of the kindness of their hearts instead of always expecting to get something out of it. If I had information that would help someone, I would LOVE to just GIVE them the information to help them. I wouldn't charge them. This is defeating the whole purpose of you giving me info. Its not really helping us.

I read your comment and I sincerely hope you have this matter resolved soon.

I cannot help at this moment because I am new to this, even though I joined
on 2009, due to health problems (surgeries) and the fact that I was not assigned to an specific coach,( i FORGOT TO TELL YOU that I am with SA,) but anyway I am right now with INSIDERS ELITE, paying monthly and I sure hope that this time I will be able to make it, (of course it is up to me to MAKE IT!!!).

Like I said I don't have experience, but for what I have been reading and networking with other people, the best thing to do when you don't have money, is to start with WHOLESALING, and within this website there are a lot of instruction on that subject.
(By the way I paid for the RBBP course, but I didn't make it either).

Like Michael said, 50,000K is a lot of money and you should be able to get your money's worth.

I know you probably don't need my advice, but this is what I am doing or at least trying to do, right now.

Have a wonderful and BLESSED CHRISTMAS, your friend Adamina.

WOW! FIFTY GRAND and no help?
Make some more phone calls...Yikes!
(Seems one could buy a distressed house to rehab for that!)

READ & STUDY YOUR MATERIALS...then TAKE ACTION (implement lessons) on a strategy that works for YOU.
It's simple. Follow the directions...Do what "Simon says."

Sounds like you may be very overwhelmed, caught up in a whirlwind.
Begin again. Keep it simple. Follow each step, precisely.

Who were your coaches? Did they explain any strategies to you? As Mike says, what are your plans? Are you trying to wholesale properties? If so, you will need to build your buyer's list so that you can assign the properties that you put under contract...

If you have access to your coaches, you should be calling them several times every day asking for guidance.

$50,000?!?! Wow!! That is a LOT of Training!!

Kat:I could buy two properties with that...

Val~ I was gonna say that...LOL

Beat down some doors, Patricia!
Certainly all that money gave you access to a PERSON to guide you.

Maybe someone from DG's office will contact/ help Pat and Dave...

Don't give up Pat!!! At least your questions will get answered here by many knowledgeable investors

Kat:,I was going to say 'at least'! Lol

Dean was online an hour ago...I'm sure he's been alerted.
Is that the phone ringing, Patricia???

Bumpety-bump!

We have been following everything to a "T"!! However, the roadblocks are always there. In order to wholesale, you buy REO's, you can't buy REO's without 10% in earnest money these days. The $50,000 would have bought a couple distressed properties, however, we don't have the $50,000 we spent on DG training and events any more. If we knew then what we know now, we wouldn't have had to spend it, but that was the whole point of spending it, to learn. Now we need to find financing from whomever will finance earnest money. Any ideas!?

No phones were ringing.

Dave and I have been working any and every way we can think of. I found some FSBO's yesterday and while I am @ work, Dave is calling those and dealing with some of the deals we've put offer on today. Its not like we've rolled over and given up, not by any means. We keep on climbing those walls, digging under those walls and walking around those walls that keep popping up. Thanks for the pep talks!!

Patty & Dave Frahm

You don't have to wholesale JUST REOs. The best way to make $$$ wholesaling is with FSBOs.

Also if you find motivated sellers on the MLS that are standard sales, you can get by with much smaller down.

Also, I don't know who has told you that you have to have 10% down for REOs. That is simply NOT true!

Good luck!

Karen

DO YOU HAVE AN INVESTOR-SAVVY REALTOR?

ARE YOU MARKETING FOR MOTIVATED PRIVATE SELLERS?

ARE YOU MARKETING YOUR NEW BIZ? YOURSELF?

ARE YOU MARKETING FOR INVESTOR BUYERS?

ARE YOU ATTENDING YOUR LOCAL REI CLUBS AND NETWORKING THERE?

ARE YOU READING THE MATERIALS AND FOLLOWING DIRECTIONS?

GRASP THE CONCEPT OF THE "NO MONEY DOWN" PROCESS.

IT'S ALL RIGHT HERE ON DG.COM AND IT'S FREE.

...AND IT'S IN THE $20 BOOKS.

THINK OF YOURSELF AS A REAL ESTATE M-A-R-K-E-T-E-R. It's 85% of this biz.

you could have put EM of $1000 on 50 deals and Retired by Now

Try filling out your complete bio for a start. I like LibertyKat's post. Most of us older DG seasoned vets spent hours and hours on this site, asking questions, making connections and putting deals together. Who says you have to wholesale props to make money. Jeremy and I are strictly buy and hold and we rehab other props for investors and from where I am sitting the world looks pretty good. We had NOTHING when we started. You can do this too. Pick yourself up, brush off your pants and start making money. You are lucky I'm telling you this and not Matt...Jan

you can always look for a partner to put up the funds for your deals and split the profit 50/50 until you can build a reserve to fund your own deals... you have to think creatively, like everyone here does...

as Kat suggested, find a rei club in your area and attend their monthly meetings; get yourselves some business cards printed and exchange them at the meetings; networking will get you far

This is an excellent post .... I began this process nearly 3 months ago and it is a lot of dedication on your part to gain the knowledge to make the best decision . It's all a numbers game learn the formulas and I guarantee that you will not need your own $$$ . Start back from the basics!!! Create your buyers list this is the key To your success you can not take shortcuts on this part after you created your buyers list make sure to look for their criteria not yours . When working with an agent create a filter for them

1.condition of property must be as is/no repairs
2.motivated sellers is a must
3.Vacant Property
4.at least 10 yrs old this way there may be Equity in the prop
5. CDOM also know as current days on market should be 90days +
6. Reduced - fewer times always better
After you have these listings place them in categories

A= 5/6 make offer immediately
B= 3/6 watch property
C= 1/6 no Offer
D= 0/6 no Offer
If you follow this simple filtering systems it will help you move quickly
I have only been learning for 3 months and already have gained so much knowledge do not get overwhelmed and do not focus on the money invested as you stated without that investment you wouldn't know what to do in the first place
You should consider using transactional funding here are two sites that are very helpful
Insiders cash .com
Best transaction funding .com

Use your mentors they are the key to your success it took me a while to understand that I can't do it all and there are tons of ways to making a deal go back to the basics and write down your questions it definitely will help I walk around with a mini notepad and whenever I come across something I'm clueless about I call my mentor .

I wish you the best and feel free to message me hope this helps

Trying to say that if you don't have any earnest money then simply deal with Private Motivated Sellers. Little or NO EMD required. All the puzzle pieces have to be there to complete the puzzle.

* Maybe stick with tax liens to build your seed capital.

** Totalviewrealestate.com has links for REI clubs at the bottom of the open page.
Your bio is incomplete, otherwise, I would have run one for you in your area.