New Forum Idea - New Investors: How to get started, how we got started, a Mentor for everyone, etc.

I still consider myself to be a newbie and Joe hit the spot. I am learning all that I can and making it work.
Little by little it is going to work. I have watched what Joe has done in the last month I it has inspired me to get out there and get it done.

Ask questions and you will learn.

Thanks for the reply and positive remarks. We all have confidence that you can do it too. I am happy that you are taking action and moving forward, because good things will happen. Keep the faith and keep up the good work. Good luck on all your deals. Believe and Achieve! - Joe

I just started here as a new member, and I wasn't sure where to post to even introduce myself. Besides the "Everything Else" thread, I think there should be a new category in the forums for new members to come and ask questions, learn from others, look for a mentor, etc. Great idea!

Thanks for the input and reply. Good luck getting started and good luck finding all those new real estate deals. Believe and Achieve! - Joe

I've always said that EVERYone, every single person on the DG site, is a student AND a teacher. We all learn from each other every day. It doesn't matter how much of a newbie you are or how seasoned an REI. Sometimes the things we've heard a thousand times escape us and hearing a new person's view on an issue can re-light a passion, or hearing the answer can just "make sense" this time. You know? That is why no one should be afraid to jump in. And believe me, the more visible you are (even if you have to push aside the shyness to be that), the more help you will find. Not just from getting answered, but being determined to seek until you DO get your answer, both reading and participating. NEVER be afraid here. We are family.

Rina

It is great to have you back on-line and I know many of the DG Members will be so glad to hear your computer is fixed. Thanks so much for the reply and the positive remarks. Every day I see so many new people that join the DG Website, however they do not take action. I thought they might be afraid or not sure how to participate in the discussions, or even just how to get started. Thus, I want to get new DG Members to feel welcome to jump in to ask questions, to share knowledge and be a part of something pretty special (the DG Website). I hope new members will get inspired to take action with the DG website and take action with their plan for success with real estate! Good luck with all your deals. Believe and Achieve! - Joe

P.S. Again, Welcome back on-line! It is so nice to see your postings!

HI I AM A NEWBIE AND NEED HELP TRING TO GET A FORECLOSED HOME THAT ALREADY BEEN THROUGH AUCTION AND DID NOT SALE! WHATS NEXT! I HAVE HAD MY BOOK NOW SINCE MARCH 23 AND I BEEN READY TO GET STARTED, JUST NOW ASKING QUESTIONS, PLEASE HELP

I think I am more than ready to get started, but I guess I still have a bit of that fear. How do I get in contact with the pre-forclosed and foreclosed houses? Also how mnay houses are a good idea to contact to make sure i get a deal?

PLEASE HELP!!!!!

Hello everyone!

I've been had Dean's book "Profit From Real Estate Right Now" For one month now. When I first started reading it the fire and desire started burning deep inside of me to just jump out there and start making money. But then over the course of two weeks, FEAR reared it's ugly head and told me all sorts of negative things. To top it off with my first contract rejection that I made two weeks after getting the book just compounded that FEAR. Then two weeks later I found someone(like myself) that lived pretty close to me who also was using Deans methods to make money. We contacted one another and talk extensively on the phone about each of our progress(or lack of). Turned out, both of us had did about the same as the other(nothing). I'll tell ya, that gave me a big boost in my confidence again and we've agreed to team up and go at this together. Soon after we hung up I kicked FEARs ugly @*% and started sending out dozens of offers. MY offers sounded crazy to me, but guess what? Didn't sound so crazy to one homeowner. They've offered me $3000 per condo if I found them a serious buyer. Now I'll have to find the correct paperwork to have them sign next week to guarantee my payment after I get them a buyer(s). Everyday now I'm sending out my "crazy" sounding emails to 15 homeowners. Kind of like going fishing with artificial lures(keep throwing something in and one will eventually take the bait).

WOW! I like the "artifical lures". Great inspiration is what I needed right now

Are you in the Success Academy?
Kat

No I'm not in the Success Academy(Yet). I was just reading your post before I came back to this forum to see if any new posts had been made. I'm just going to use what knowledge I get from these two books that I have "Profit From Real Estate Right Now!" and "Be A Real Estate Millionaire". Don't let the little obstacles get in your way and if they do, then just figure out a way around them. I've just had a homeowner offer to pay me($6000)just for bringing them a buyer for each of their properties. That's $3k for each condo they're selling. I now need to get the correct contract in place and find a buyer(s) to wrap the deal up.

Hello Everyone,

Just wanted to share what I learned about FEAR. Fear comes because we lack trust in our ability! To overcome this fear, we must keep involved in the learning process of this new technique. So that we are educated enough to be able to handle what ever comes our way. Staying on this site, reviewing the books, asking questions, reading the comments to that particluar problem. Just getting out there. Sometimes you see or hear things for a third or fourth time but you somehow don't acknowledge it. But you hear on the fifth time. I'm not saying these things to be critical of anyone in a negative way. I'm saying it as a person who has been an agent in the field. And somehow I am dealing with fear. I know now that it is only because it's the new approach that I am taking with it and that more self confidence is needed on my part. Not that the technique doesn't work. Because being on this site, every obstacle you could think arising has been proven to been resolved. In all my years of sales experience. The best way to get a yes is to get enough no's. Expect to experience fear when ever you are on unfamiliar grounds. Gain Knowledge of your surroundings and move forth. As Dean says, TAKE ACTION! Contined Success...........
Sincereley,
Lubertha

Congratulations on reading Dean's Book and being part of thee DG website. In regards to the REO that did not sell at auction. Go to your local tax records and find out who owns the property. Then try to approach the owner directly. Also you can contact a local real estate agent and ask them to run all the for sale REOs in your local area of interest. This should get you started in the direction you requested. I hope this helps. Good luck on all your deals! Believe and Achieve! - Joe

Congratulations on being a part of the DG website, it is packed with an abundance of information and friendly members. On getting started and finding REOs, you can contact a local real estate agent and ask them to run all the for sale REOs in your area of interest. Also, go to the public records and you can find out what properties are in what stage of foreclosure. The numbers of properties to look and and make offers on is up to you. But as Dean and Matt Larson indicate, it is a numbers game. Just make sure you know the market value of the home and base your offer on that. Offer low, as long as the numbers look good in the deal, you should be able to assign the deal, take on a cash partner, or if cheap enough purchase the home by yourself. I hope this helps. Good luck on all your deals! Believe and Achieve! - Joe

Thanks for the information and insight to your efforts thus far. It goes to show us that Dean's principles and techniques work. We have to be patient and keep a steady course and it sounds like things are moving in the right direction for you. Congratulations! You are on your way and before long another success and another, etc. Keep the faith and keep the reason or the "WHY" you want to succeed with real estate investing in front of you each day. Good luck on all your deals! Believe and Achieve! - Joe

Thanks for the reply and participation. I hope things are moving in the right direction for you. Good luck on all your deals! Believe and Achieve! - Joe

Thank you for taking the time to share your insight on fear with us. Your comments are helpful and are so true. We need to think back to when we all were young kids and we had no fear! We just did and fear was not even in our minds it was something that we learned. Thus, today as adults we learn and the fear is replaced by confidence! We can do this, we will do this. Think Positive! Good luck on all your deals! Believe and Achieve! - Joe

Hello, I am new to this REI. I have had deans books for over a month, finished reading and still dont know how to take action. I dont know witch direction to take or how to assemble my team. I have very little money and been laid off from work for about 6 months. How does someone in my postion get there feet wet? Or how can I assemble a team w/o the money to pay them? I guess that is my biggest(FEAR)is trying to move forward w/o having the money to back me up.

Motivated yet scared at the sametime, but willing and able to get though my fear's

Any advice is very helpful
Thanks

Congratulations on getting Dean's book, joining the website and deciding to take action. Some ideas for you may be the following: Join an investors club and get to know other people. You may find out that part of your future team may be members at a local investors club meeting. Also this is a great way to meet potential partners for future deals, they may have the cash you may have the time to assign or put together deals.

Try to determine your investment area and go to some open houses to get a feel for the area, local real estate agents and determine what other areas you may want to invest in. Also reread and outline Dean's book. Make sure you take notes and go back to the parts that interest you or you encounter while investing. Use Dean's book and the DG website almost as a reference resource tool. There is an abundance of tidbits of information available and sometimes they may be missed the first time through.

Creat a plan of action and update it daily. Set small goals and work form there. If you are learning during the next month or so, that is great because it will better prepare you for future investing. I hope this helps. Good luck on all your deals! Believe and Achieve! - Joe

Hello. I am also in the same boat as glenn and also have that same fear of moving foward. The only difference is I have absolutely no money to work with. I can barely even pay my own monthly bills let alone put money into a property. I am just looking for that someone to basically "hold my hand" through a deal and get me on the right track to success.
Well in the words of glenn "ANY ADVICE IS VERY HELPFUL". Thanks for all your great input and I look forward to gaining more knowledge through your posts.

Thanks,
Tim

Thanks for your advice. One step closer to making REI come to life. One question how does bird dogging work? is that something that can be done w/o a team now or do i still need a full team to go forward.

Any advice is helpful
thanks

I also am new to this REIing. I have read one of Deans books and am on the second and almost finished with it. I too am having the same sort of problems as you.Not knowing what to do next. I too have been laid off since Feb. of this year. Having bad credit does not help matters either. I have been driving around my neighborhood looking for houses for sale and calling them, just to get a feel for questions to ask. Like what is the asking price simple things like that, just to get comfortable with talking with people. I also really do not know what to do next, so I am in the same boat as you.

Scared and motivated as well.

Right now I am renting but would like to buy my first house by the end of summer. Dont know if i can do it with no money, no job, no credit. I am married with 2 lovely little girls and want to own my own home for them as well as myself and my wife. My wife has a full time job, if not for her, do not know where we would be. What advice would anyone give for this goal I have? I plan to make a career out of REI, and I know I can do it. Just need to stay motivated.

Thanks!

What does Send PM mean?

First of all, thank you for dedicating so much of your time to helping others! I know I don't just speak for myself when I say that your postings are both beneficial and inspiring to new investors like myself.

Dean, this site, and everyone such as yourself, are valuable assets to anyone beginning their journey to success.

That being said, I do have a few points I would like addressed. I know there are many of us here who are starting out w/ no capital or credit. W/ current economic conditions, there are many (such as myself) who are unemployed and struggling financially.

For those that are in this boat w/ myself, it is hard to really understand how to implement Dean's strategies w/ no money down. 'Profit From Real Estate Right Now' does give the tools needed for success, but for some it is hard to structure this information into a step-by-step process.

Knowledge is power, and there is certainly plenty of it here, as well as in Dean's writings. In fact, so much so, that it can be overwhelming. Now, I am certainly not asking for a step-by-step implementation, I know that would just be crazy haha.

But I would like to see advice for us "broke" newbies. Regarding pretty much anything and everything, any tidbits of information would be great. Preferably tested and proven techniques.

Such as:
- Successful marketing strategies to find sellers, buyers, investors, realtors, and/or brokers (internet, free classifieds, etc.).
- Creative financing, both from-sellers and to-buyers.
- Where/how to obtain free public records (Notices of Default, etc.).
- Where/how to find Foreclosures, REO's, FSBO's, etc.
- How to best determine FMV.

Also:
- Key questions to ask/things to say when talking to prospective buyers, sellers, and/or other investors.
- Important things to look for when inspecting property and/or determining FMV.
- Any other information which could be pertinent when 1st getting started, especially geared towards "broke" newbies.

I am certainly not asking for any one person to go over all these subjects. I am simply trying to form an outline for new REI's facing financial problems, like myself.

I would also like to say, I have read 'Profit From Real Estate Right Now' and study regularly. I have a decent understanding of most of the subjects which I previously mentioned, but from what I've read and gone through myself, these seem to be popular areas for confusion.

I haven't however, closed any deals of my own. I feel these answers are more reassuring when coming from someone who has proven themselves. I hope to soon be a success story myself, but until then I would like as much guidance as I can get.

Again any input is greatly appreciated. Thank you for your time and good luck!
-MikeHutch

PM is Private Message. Its just a way to communicate privately w/ out posting your discussion in a thread. Kinda like instant messaging.

Hope that helps. Good luck!
-MikeHutch

Looks like alot of us here are with bad credit as well as having no money and being laid off. In Deans "Profit From Real Estate Right Now" book it gives you step-by-step instructions as to what questions to ask and how to go about it. You're not going to ask what you really want the first time because of your fear, but the second or third time you will. Dean suggests that you be totally and completely transparent about your intentions to the homeowners. Let them know what it is that you are doing and that it costs them absolutely nothing. Let them know also that there's no risk whatsoever to them and nothing at stake, but yet would benefit everyone involved(them, you and the home buyer). If you're too unsure of what to say, just go back and thoroughly read "Profit From Real Estate Right Now" . Even practice with family and friends until you feel confident enough to go face to face with an actual seller. Well good luck buddy:)

I totally agree with you and you definately put it into words better than I ever could! Bless you, Mike. I too hope to be a success story.

Thanks!
John

Thanks Max, I can call you Max, cant I. I will keep reading until I feel comfortable and knowing what to do. Thanks to everyone on here. I will be back to ask other questions when I get stuck, cuz I know I will. Also, how do you put the Send PM under the Online?

Thanks to Everyone for the great input!

John

"Send PM" is right under "Online", you just cant see it because you cannot PM yourself. Everyone else can see it, don't worry.

Hope that helps.
-MikeHutch