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

This whole REI thing is addicting, at least for me. I've yet to form a team , I couldn't make last month's (my first) investment club meeting,but no matter what I won't miss the next one. I have been writing letters to heirs of probate properties, although haven't gotten any responses yet. I went through 1 very run down REO and am still getting more sent to me by the same contact. I saw a few bandit signs advertising the making of bandit signs for only 3.99, but when I was able to get in touch with the makers, I was told that price was for 100 signs and the least they would make per order was 25 at a price of 7.99 ea. That seemed a little misleading to me, but it also did prove to me that they work. Having very little cash at the moment, I guess I should try hand written ones, like I've heard mentioned here. I need to somehow get my intentions known on a much larger scale and I'm hoping that this investment club will be a big boost. At least for a start. It seem like I'm trying to do everything myself which is OK I guess, but it seems that it would be a lot more productive with a team, or at least a lot more folks knowing what I'm up to. This site is tremendous. I'm getting lots of ideas from here. Now all I need to do is make the time to put them into action. Thanks again to all of you for your inspiration and guidance, and thanks again for this site...John

Start calling on some For Rent Ads and signs. That is a great place to make some contacts. They may be long term holders that are looking to buy more properties so now you have a buyer on your list. Or they may be a motivated seller that has turned to Rent to just keep them a float. Or finally, they may be a property management company than knows about deals out there or other buyers that are looking. Make a few calls to them and see what you can find out while you're waiting for the next REI meeting.

Good luck and welcome to the family!

Hi Everyone,

I've been here before, but am still quite new. I was wondering if anyone on here or the site for that matter could refer me to a mentor in Nor Cal. San Jose, CA preferably. I am in the Bay Area. The first couple meetings or coachings would have to be worked out because I am in the middle of taking an investor to court for burning me on a deal. If you could help me out or know of someone out here that would be great. Thanks.

Randy

....Welcome to the DG community, it is poacked with information and inspiration. Two ways to find a mentor might be to join a real estate investment club and network, network, network. Also, try to find the local investors in the area and see if you can help them as they work their deals. This could be a great way to learn as they make deals. I hope this helps. Good luck with real estate investing. Believe and Achieve! - Joe

We think it's awesome how you guide, help, & assist all new DG Members as they embark on their RE Investing Career ! We believe that these people truly look up to you & admire you because of all your posts & advice.
Since the Real Estate Market is Constantly Changing,(literally month to month) we think it would be an Incredible Teaching Tool if you took your Most Recent Local Deal(since most people start out in the comfort zone of their own home town) and gave a Step-By-Step Guide on How You :
* Prospected the Deal;
* Researched it (using your local County Property Appraiser/Clerk's Website, etc.)
* Talked to the Seller/Real Estate Agent;
* Negotiated the Purchase Price/Terms;
* Negotiated the Financing;
* Closed the Deal;
* Exit Strategy,(Wholesale;Fix & Flip;Lease Option or Rental);
We believe this will be truely powerful & inspirational to all the DG Family Members, both New & Old. Thanks, can't wait for your response ! Gary/Jill

I want to interview some R.E. Agents to see if they can work with me on doing wholesale flips. What are the questions I need to ask to determine if they understand what I am trying to do? Is there a list of standard questions? I am trying to take action, but am not sure exactly what to say when I call. I dont want to sound like I dont know what I'm talking about ( even if I dont ) lol Thanks for your help.

I am reading Dean's book Profit from Real Estate Now. I, like others, are a little afraid and hesitant as to where to get started. I will review the site and ask questions. I have already seen some great information and hope to see more.

Sharon & Donna; Do Not Be Afraid of RE Agents! They will answer your questions.
If they will not plenty others will. Save your anxiety for talking to your
Buyer/Investors, that is where I am having problems and need advice. You
really need to sound like you know what your talking about before dealing
with them.
Donna; After reading the book, building your Buyers List is the usually the
the first & hardest thing to do,( if you are shy or introverted like I am).

Andrew

Thanks for your reply. Yes, I can see where having a buyer's list first would make sense. I am also looking into the process of finding a good agent. I am nervous, a little frightened, but know with more confidence and knowledge, I can do this.

...You can do it. Dean's books and programs are everything you need to be successful with real estate investing. Each day you will learn a litle more and that edcuation will build wisdom and confidence. You may want to join a local real estate investment club and network with others investors in your area as well. Building that buyers list can be the key to moving deals quickly.

You may want to check out these other awesome forum posts and information on-line on the DG website for building a Buyer's List:

Dean's Success Academy Coach Jeff Jenson Building Buyer's List Tips:
http://www.deangraziosi.com/real-estate-forums/marketing-buyers-and-sell...

Video by Dean on Building a Buyer's List:
http://www.deangraziosi.com/emd/videm/buildbuyerlist

Conference Call with Dean and Jeff Jenson on Building a Buyer's List:
http://www.deangraziosi.com/content/conference-call-tuesday-december-22n...

DG Success Fest link to download (Chapter 1) a FREE Guide to Building a Buyer’s List:
http://www.deangraziosi.com/content/new-week-new-successfest-treats-you

Good luck with these potential deals. Believe and Achieve! - Joe

Knowledge is not power. Application is power.

You can "know" that smoking is bad for your health. If you don't apply that knowledge ... you suffer the same consequence as those who don't know it.

You can "know" that texting and driving is dangerous. If you don't apply that knowledge ... you are likely to hurt yourself and someone else eventually.

You can "know" that you shouldn't lock your pet in the car on a hot day, even for a few minutes ... if you don't apply that knowledge your animal might die.

You can "know" that eating two pies a day will make you gain weight. If you don't apply that knowledge ... guess what?

You can "know" that murdering someone will get you arrested. If you don't apply that knowledge, you're going to prison.

You can "know" that it's not smart to put all of your personal business on FaceBook ... And if you don't apply that knowledge, expect drama and fallout from it.

You can "know" that it is possible to gain financial freedom with Dean's system. If you don't apply that knowledge, you could spend your life asking people the question, "Do you want fries with that?"

And the list of KNOWLEDGE NOT BEING POWER goes infinitely on ...

Bottom line: It does not matter WHAT YOU KNOW if you don't "act" like it.

Hi Everyone,

It helps to know I'm not the only one Really Broke and Scared. I joined this site when I got Dean's "Profit Now" book in May. However, I just started digging in over the last week or so. I'm so glad I did because I got laid off yesterday and last night I found a post from Carol Stinson, "Broke Newbies" check her out. She does "Assignments". When you have barely enough to pay bills and buy food, it's a good way to go. She matches Buyer to Seller and makes it work from home. After reading the book I too was overwhelmed, confused, and very scared, but, the way she broke it down helped a whole lot!

Tori

I'm sorry Indiana Joe, I didn't mean to forget you. I got caught in the light that went off last night. I've read several of your posts as well and you too have shown the same care in helping others on this site and I truly am greatful.

Thanks again,
Tori

When first getting started how do you make offers with no money for the earnest money?

...If you do not have available cash for deals, you will probably be doing wither bird-dogging for other investors or assignment of contract. If you are planning on an assignment of contract, put a contingency into your offer that may read something as follows...."buyer to provide earnest money after 30 days of acceptance of this contract to purchase".

If you are able to assign the deal, the person you assign it to can provide the earnest money if they are interested in the deal. Good luck with real estate investing. Believe and Achieve! - Joe

I am a newbie at this and unfortunately I do not have any of the books yet, But I have been on the DG site for a few days or so now and have been reading alot.
From what I have read I believe the best way for me is bird dogging but as everyone new I have the fear of messing up. I am trying to just go for it and find a job bird dogging for someone. I don't have a mentor (could really use the help) But I keep telling myself it will work out somehow. I think my biggest problem is not knowing what to say to the people. I have made an account on realtytrac.com and have been trying to understand what I'm looking at. I know if someone would walk me through the first deal or two I can become very successful and help others do the same. I live in upstate NY Troy I am here reading all the time so to contact me just leave a pm and i will message you as soon as possible Thank you everyone for your posts they are inspiring and educating to say the least

....Welcome to the DG website community. The DG website is packed with information and inspiration. The key do doing bird-dogging or assignments is building your buyer's list. Your buyers will let you know what they want, in what areas and at what price. The great thing, as you know, is you do not need to have any money to succeed with bird dogging. Good luck with real estate investing. Believe and Achieve! - Joe

Here are some great links on DG.Com to reference for building a Buyer's List:

Dean's Success Academy Coach Jeff Jenson Building Buyer's List Tips:
http://www.deangraziosi.com/real-estate-forums/marketing-buyers-and-sell...

Video by Dean on Building a Buyer's List:
http://www.deangraziosi.com/emd/videm/buildbuyerlist

Conference Call with Dean and Jeff Jenson on Building a Buyer's List:
http://www.deangraziosi.com/content/conference-call-tuesday-december-22n...

DG Success Fest link to download (Chapter 1) a FREE Guide to Building a Buyer’s List:
http://www.deangraziosi.com/content/new-week-new-successfest-treats-you

I've visited the site countless times,but this is the first time I've seen this thread. THANKS JOE! I'm in the Success Academy as of 9/15/10,I've taken my first few tests and things are really falling into place. I'm extremely excited about this whole thing.The Academy is amazing. Everything is spelled out in plain,easy to understand English, and each time I call with a question,I get an answer right away.I can't recommend it highly enough. On a slightly different note,I heard a while back from another source,when you go to any home supply store,paint store,etc. give them your card,explain to them that you're an investor and ask for a discount!Tell them you'll be using their products for repairs and such on your propertys and see what happens. It never hurts to ask, as I frequently hear on this site. Give it a shot. The worst they can say is no. You might be able to save some much needed cash.Good luck!

Thank you both very much the links helped alot and hope to get started on my first deal soon. I would like to find a partner, willing to go 50/50 or a bird dogging job

to Indiana Joe you are a very good example for all of us all the information you post on the site so we keep on going on a good direction I am like most of the new DG students with no credit and no money but with the information that you are giving us if we aplyit we will succed in this busynes
Long Island
New York

...thanks for sharing your insight with others. I am glad to hear about your success with the real estate Success Acadmey. I many other members have had a great experience and its helps them to get on the fast track. Thanks forthe tip on the home improvement centers. It is so true that you never know what you can do if you don't ask. I have heard that a store like Lowe's will even offer package pricing for all kitchen appliances or they even have a "bid room" for large complete home rennovations. Keep up the good work! Believe and Achieve! - Joe

Good luck on doing your first deal. Bird dogging is a great option. Keep working on building your buyer's list and the deals will come. Looking forward to reading about your progress. Believe and Achieve! - Joe

...Thanks for stopping by the forum and I appreciate your nice comments. The great thing about the DG.com website is we can share with others what we learn. You can do it, just keep learning as much as you can and do the right things. You will have the foundation of knowledge in place as the deals come along. You can do it! Believe and Achieve! - Joe

Hello DG Family-

I am looking for a mentor/partner to help me get started in this real estate business. I am located in the southern california area (specifically the inland empire) is there anyone in my neck of the woods who I can work with to get some deals under my belt? I have posted an ad like this in the past and have not recevied any repsonses back. I know that there are some people out in my area that have purchased dean's books and are working this program, I am hoping that I can get a reponse this time. I am looking for a serious person who wants to mentor me and also partner on some deals as well. Any serious reponses that I receive will be answered. Please send your responses through this site as a private message.

Thank you,
Angela

Welcome to the DG community. Try to network wit has many invetsors in your area as you can and networking can lead to possibly finding a local mentor in your area. Try to attend local real estate investment club meetings. The more meetings you attend and the more people you network with the better. Good luck with real estate investing. Believe and Achieve! - Joe

Thanks for all the advice and support and your right the best part about the dg site is the fact of the support and sharing of knowledge so thanks everyone for being such a great help to everyone

...Thanks for stoppingby and your nice comments. The great thing about the DG.com website is it is filled with information and inspiration. As I had or sometimes have tough days, the DG.com website and members make me motivated to continue forward. It is always great to be around like minded people and it is so awesome that Dean provides so much free great content and information for all of us to share. Good luck on your fute real estate deals. believe and Achieve! - Joe

Hi Joe, I just happened to see this forum in the list to right. How can I get to this again? There must be forums inside of forums, lot of times I never see them again. Can you bookmark a whole forum? Loads of wonderful posts. We're all going through the same things as newbie's. Lot's of encouragement. I am so close to a birddogging deal. Birddogging is a great way to get your feet wet in real estate investing. I have been building my power team through talking with agents, going to rei meetings. I also found an investor from a sign while driving to find for sale by owner homes. He wasn't interested in investing at this time but he was so willing to give me all kinds of information. I also have an investor who is interested in multi-units and even condominium set ups. Thank goodness I have the success academy to help. I read someones post that said they weren't accepted, and my heart dropped. I have so much to be thankful for. The mentor's are, right here, Dean's blogs and the DG family. Thank you all for helping us.
P.S. It is bookmarked now.

Hi Everyone! have been reading alot of these post, I might be here another couple of days to get through all of them but am getting alot of ?'s answered.
I'm just outside of the Cedar Rapids Iowa area and looking for others in the area that are doing this career, I keep in contact with the people that I took class with and we meet once a month, but we are all still confused, so no deals yet. would really like to talk in person to someone that has deals under there belt.I've been unemployed for 3 years with no prospects in sight, so really need to make this work!-sheryl

Thanks Suzi & Indiana
I was wandering about this myself.

Sheryl.Randy