tunnel is getting dark

I have yet to make my first deal but I'm well on my way. Did you make realistic goals for yourself? If not there's where you should start. If you don't have a job start out with assignments. Go on Zillow to get an idea of the area you want to focus on. Look at prices, don't automatically assume the cheapest houses are where you should go though. Talk to people you know, friends, family, people you talk to everyday at stores. Tell them you're a real estate investor and that you can find deals better than anyone else. If someone sounds interested talk to them, find out what kind of house they're looking for. Tell them you can get a house for potentially 30% off the normal asking price, but in exchange for finding them that great deal you want to get paid for your hard work too. Become friends with them. You seem to have a lot of time on your hands, so you may be able to do it better than a real estate agent for now. Look at all the houses that match their description. Be professional and talk to the seller's representing real estate agent. Find the motivated sellers based on the cues from Dean's book Profit from Real Estate Right Now! Narrow down your search and look at houses. Find as many flaws as possible. Then when you are absolutely sure of you've done your homework. Make an offer based on your findings that you would accept if you were in their position. Make sure it matches with what your buyer expects to pay.(make sure your buyer still wants to buy, but don't tell them that you may have found a house unless you've locked it up) Make sure both sides know your plans, how much you expect to make by finding a buyer for the seller and a seller for your buyer. Use the proper paperwork, lock it up. Talk to the buyer, set up a closing, and sign it over or break the contract for cash and you just made your first deal with real estate. The key is finding the buyer first, find as many as you can, I'm sure there are plenty of people you know who want to buy a house, even better if you find someone who wants to buy and find someone who wants to sell. Try it out, can't work out worse than what has happened so far. Good luck.

Keep your head up! I have admired you for weeks now. Ever since you did what so many others want to do - everyday. Now its your turn to MAKE IT WORK!

Lets step back and take a deep breath then I am goping to show you how to jump in with both feet.

Failure was not an option for me either. I had to MAKE this work or NOTHING! So I made it work. Now lets see if we can get you up and running.

1. Set you criteria on what you are looking for i.e, 4br/2ba+, 1600sq/ft +, etc....

2. Contact your realtor or any realtor and ask for info on about 10 properties. and get all the info you can on these.

3. Contact www.coastal-funding.com and print you out a POF - Proof of Funds letter for what ever amount you need. Copy it and attach with every offer.

4. Add your exit clauses and attach your POF and submit all offers and wait for some to get accepted.

5. Once accepted FIND BUYER - aggresively market those properties and get you a buyer. Once you find a buyer forget about the assigns, do a double close. Use www.oldschooltitle.com.

THERE YOU GO!

NO JUST DO IT - stop over thinking every step and just do it! So what if you fall on your face, you did SOMETHING! Then just pick up and go from there.

Yes, keep your head up. sometimes when things are darkest is when you find out about yourself. When I am not good at something or struggling to get it done, it only makes me try harder and makes more determined to conquer whatever it is. I can never say I give up. So You will find a way to get it done because you wont give up either. now go over your steps and see what you can do differently. But with Anita helping you may get it done faster then you expect.
I also have been following your posts. You are inspiring to say the least.
I will PM YOU.
Richie.

Most people get frustrated, and give up when it gets tough...Thats why so many people are stuck with the same thing day in and day out for forever...What sets people apart from the "normal" people, is what they do when they get frustrated,annoyed,disappointed, angry, and to the point where they just want to give up...Don't look down on yourself if something is going wrong...Successful people don't look down on themselves, and if they do, they do it for 30 seconds, and then figure out a solution to their problems...Finding solutions will set the successful people apart from the normal people...Find the solution to your problem, and do it...

Anita gave a great suggestion to you, and to everyone...Of course, more problems may come up, or things may not happens as quickly as you or anyone would like, but sticking with it will pay off for you...

Martin, all lot of people follow your post...I know I do, and anita and richie said they do too...And remember, even though things are not going your way, that is happening for a lot of people...So you are not alone...I go through problems all the time too...It is part of the process to build a business...

you have been inspirational to me as well! For that I thank you.

What you are feeling now is a crucial point for you. Like my husband and others have asked so many times, "If "REI" is so easy, why isn't everyone doing it?" (the skeptics). It IS easier the more you do of it, but just figure how many people never push themselves past what you feel now? THAT'S where you have the advantage. You KNOW you can do it, you have all the tools, and now several here to buddy up with. You are one of the few that will get a piece of the pie (and it's a HUGGGGE pie!) if you push forward.

Wishing you all the best and believing in you!

Rina

The DG family are here for you! Take heed to all this advice that's given to you. YOU WILL MAKE IT! Always BELIEVE THAT YOU CAN!

A good portion of success comes from the mind so always think POSITIVE, even though things make seem tough right now. You will GET OUT OF IT!

DON'T GIVE UP! ! !

Anita, GREAT ADVICE! I'm can borrow your info to use myself.

Martin, you just answered your own frustration. I have to agree with Anita. If you said that "FAILURE IS NOT AN OPTION", why questioned yourself? You should never doubt yourself and your ability to make real estate investing work. As Rina stated, you have all the tools and the buddy system to assist you, but do you have the desire to make it work? I think you know the answer for that.

We all have tough times and some people struggles more than others, but when we face with adversity and when your back in aganist the wall, this is where you need to come out swinging. Well not literally swinging at anybody but you know what i mean, lol. When the tough gets going, the going gets tough. So tough it up buddy and go out there and close a deal! Anita has outlined a plan of action for you and with all the free time you have, i don't see why you should fail. If getting a job is another option while doing real estate, then by all means do what's best for you right now. I think 99% of us work a full time job while juggling our REI business at the same time. Good luck!

Lloyd

Martin, remember that a lot of us are in the same or a similar situation that you are facing right now. This is a great site for re-enforcement of your beliefs that you can succeed in this business. Many people are successful doing this so why not you too? Don't let the uncertainty and fear of not having money come in change your mind. Use this as a motivation to find out what it is that you aren't doing that you need to start doing to get that first deal.

I used the quote above from Jim Valvano to remind myself anyone who reads it that this was a man who knew that he was going to lose his battle with cancer and yet he continued to work hard to find a cure for cancer. As he stated, it might not be in time for me, but it might be in time for my children. His fight continues on even after he is gone because he had a vision to start a foundation to find a cure for cancer.

Try to remember that no battle is too small or too big to fight if it is worthwhile to you. Also remember that you don't have to go through this alone. Not only do you have all of us here on the DG site, but you have God on your side as well.

Be strong and continue the good fight!

Martin there are a lot of us in your shoes and yes it can be very difficult getting in, but if you keep pushing it will pan out. If you think about, look how much we all have learned in this short amount of time and this is not very long. I think Starting a career that will make more money than people who went to college for years is well worth the time we are putting in.
I believe a lot of us newbies keep focusing on assigning REOs and strategies are changing. Banks have caught onto this, and now REOs are the hardest to assign because of their no assigment clause. I just listened to a websiminar about the easiest way to assign REOs and it's what Anita just told you to do, "double Close" using Coastal-Funding.
My advice is put 10-15 offers out using coastal funding and while your waiting for those results, look into getting info on probate,divorce,ect properties and contact them.
To let you know about me, I hit bottom a lot of times and it was taking a toll on my relationship with my wife because I was suppose to have money rolling in by now. She told me when I started "so how long do I give you with this, 6 months"?,
we'll I'm on 5 months and decided I need help and found a mentor in my town who will split deals with me as he trains me. At first this didn't go well with my wife because I had to borrow money from my Mom, which she was absolutly against me doing.
So long story short, I cried at one point. my wife cried at one point. But now she knows I had to do what I had to do because this is absolutly something I know I can and will get good at and want very much.
Most successful Investors had to do the same thing, which is have a Mentor. So feeling the way you do right now, is very understandable.
Sorry so long
felt good to type this up.

I am new to investing as well.. and reading this forum really help me open my eyes but I have quick question ..where can I get the offer letter to attach it to my POF that has exit clauses included? or do I ask the realtor for the form?

exit clauses can be added in the addendum of a contract/offer...The agent will know what the addendum is...You just have to let them know what clauses you want in the offer/contract

WOW, can I relate!! I have been exactly where you are a hundred times in the few months we've been doing REI. In fact, two days ago I told Dominic that I thought we should just tell the bank to STICK IT and walk away from this deal that we're trying to negotiate. I cannot believe the highs and lows that come with REI.

But all of the people on this forum are so supportive and will always be here to encourage those of us that are struggling. I have found that to be true time and time again. When we are feeling frustrated and beaten down it's good to remember how many people are here to support us and that we are NOT ALONE. Please don't give up, Martin. I enjoy reading your posts and we have been inspired by you more than once. I really do believe that you will be successful in REI. We all just have to push through the tough times and be persistent. Keep putting in offers. Who knows which one will be THE ONE that will become our first deal!!

thanks for all the responses guys . It really does feel good to have a family like this to encourage you. My mistake was thinking that this was going to happen over night and it will happen but maybe not tomorrow. Actually some good news... I have a realtor that wants to work with me and we start tomorrow. I will let you know how that goes. I am thinking about starting a journal to keep me motivated and keep you all informed. That way when I get my first deal, we will know how it all happened. I took a break from real estate today and that helped clear my mind . Sometimes you just have to give yourself a break and spend time with the family. I am tired but thanks again for the support. When I get my first deal , party at my house and you are all invited..lol

I just signed up last week for the Academy and I've been reading all these posts. I'm scared to death right now but I'm still willing to do what it takes to make my dream of being a real estate investor happen. You're right Martini, Failure is NOT an option.

...to the party!!

When I hit bottom and take a little break, I always feel like I come back stronger and tell myself to do even more and it feels great.

That's the Spirit! Don't let obstacles from stopping you from your ultimate goal to become a RE MILLIONAIRE!

Say, are you serving martini's at your party?
Make mine an appletini, lol!

Thats my motto! Don't give up!!!! If you want it bad enough, you can make it happen!

Martin,

Keep the faith, it will pay off. Just think each day how much more knowledge you are gaining and better preparing yourself for future deals. Be proud and confident. The way you conduct yourself in business will be seen by others and motivated people will attract deals and partners. Thus, keep up the good work and those deals will come. Believe and Achieve!

if i did not know that martini wrote the dark tunnel post i would have thought i wrote theat post myself. been a member since 4/11/09; and lost my job 3/25/09. have just enough finances to cover until june, ive been studying very hard; doing everything the coaches tell me to; but it seems like its not working for me. this is something i want to do for my wife and 3 children; mainly because they have ALWAYS stood by me no matter what; and i feel like im letting them down. well its dark and raining down here in tennessee; and i feel drained ; and just frustrated in general.i want to do this more than anything ive ever done ;ive invested the price of deans academy to invest in myself ,but i just do not seem to be getting it; if anyone can help please do (please email my private box; thanks for reading; melvinb

Hey guys for those of you feeling down and low right about now - here is a link to a post about what I did on getting a real estate investing buddy. Please read through it and find someone for you or post to it and ask for one yourself.
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We all want to follow your journey, it will be SO much easier to do that if you are recording it in one place!

Angela

I left a couple of messages on your 'my account' page too. Check them out and let me know if it will work for you.

Angela

There is not much more I can add to all the posts above. But the responses are an unbelievable testament to everyone here showing their love and support and advice! We are all so lucky to be connected through this site and our common determination toward success. I have been where you are too, Martin, so hang in there! I am working a part-time 'regular' job while putting the rest of my time into investing. Maybe this is an option for you too. Gives you some definite income to count on while you push forward. Also, if you are ever going to attempt to bring traditional funding into your business the banks will need to see something too. Just explore all your options and remember to always come to this site in the 'dark' times. The people here have always turned my head around when it was needed.
xooxoxox
laura

All I got to do is say wow. What a family here.
I am very much like your situation. 3 weeks ago I was fired from my job. I had beg my wife to give me some time and figure this out.
To help YOU out, what I do is go and either listen or read chapter 2 of "Think and Grow Rich.
For some reason or another it puts me back up on the pedestal and reminds me that if you have a burning desire for something, it will happen.

This being my first post, To all of you, Thank you.
Anthony

This is Great idea! My investing Buddy is my Husband.
When I started doubting, he reminds me that there are bigger and better things for us. He reminds me that RE was always been the best way to go and that he supports me in any way that he can. It always cheered me up.

We have all been there. I have written one or two "dark tunnel" posts myself. Guess what? I got alot of encouragement just like you are getting. Know why? Because at one point or another, everyone goes through this thought of "DAMN!!! WHAT THE HELL HAVE I DONE!!!" I know where you live, it is not far from the area where I invest, as you know. You and I have been encouraging each other for a while. Now, Allentown is an hour away from NYC. Read those messages from Rina and come take a trip and join out DG REI club. Aside from that... If you want to partner up with me to invest in Allentown or Lehigh Valley or Monroe County with me(I think I misspelled that), let me know. I'll partner up with you, no problem. PM me and we will talk.
If I can help in any way, just ask. I am here.

Yuri

I am way behind responding to this. Everyday I go at it hard and the forums always take a last place, not intentionally. I am sorry if I can't respond to each of you individually because of my lack of time. Just know that I really appreciate all the support and hope for the same to this great family. By popular demand , I will start a journal and try to document my actions each day. I always wanted to do a journal and there's no better reason then this. It can also help someone by following my steps when I finally get a deal . Look for it in the journals section. Have a good weekend all of you! Thanks!