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

Hey Joe thank you so much for starting this new thread. I really appreciate the time and effort you and the other superstars put in for us newbies.
I would like to know or get an example of a letter that I could mail to Attorneys for Probate and Divorce to send them my card and get them to hand out to their clients. I have bought quite a bit of Deans materials and I could have swore I saw it somewhere but I can't seem to find it now.
If you or anyone else could offer that to me or point me in the right direction it would be greatly appreciated.
Again thanks for all the you guys do to help direct and get us out of our own way. I'm sure you hear it alot but it need repeating THANKS.
Jason

It is because of many of the investors here, especially Keb, that I have learned so much; and yes- I had to overcome several obstacles, but those obstacles helped me think of ways to become stronger and more determined;
and as I've progressed, I have actually extended my hand to others along the way... because that is DG way.
There is an incredible wealth of information on this site, and I have never met so many great people who are willing to share their knowledge! I believe that is why so many here are successful, because everything they give is returned to them-tenfold!

Learning and progressing every day,
Valerie

Thanks for being the trainer at the BOG 3day event in Harrisburg, PA. You were a huge help....still haven't done a deal but I've made many contacts to help me along.

Stay in touch!

Regards,

Linda LaCorte

My husband and i have struggled so long with trying to find our niche in real estate investing and i mean we have no money to invest our credit is kind of shady. We own our own home which we bought through creative financing with a family member, but there is soooooo much information and we are trying to sort through it all and we know we want something along the lines where we don't hold onto the property, you know, just being the middle man. But I'm still new with terms and EXACTLY how to do a deal. I mean a step by step. I guess I'll get it but it's all so confusing with the terms and conditions and trying to figure out exatcly what we are looking for. I know life would be easier with a one on one coach but we can't afford that just starting out. I found a hard mone lender in my town and spoke to him this evening but he wants to make a dollar and i don't see where i can benefit on the "deals" he is offering me. He made me feel like a little tiny minnow talking to a great white. But i kept my cool and kept repeating to myself "I can do all thing through Christ who strengthens me." and we spoke and he dug me really far into the dirt by reminding me that i have nothing to bring to the table and that I may be swimming in the wrong pond. But i was honest with him about everything and at the end of the conversation he told me that he appreciated my honesty and gave me his email address. I don't know how we can work together. I didn't know what to say to him. If anything he confused me even more with all the fancy rei terms. But i don't want to give up. I know there is money out there and i LOVE real estate with such a passion. My father built many of the houses in the area before i was even born and died when i was young. I guess his real estate passion was passed down to me in my genes. I just love looking at properties and trying to construct how money can be made. I don't even know what i need, but I'll keep reading and hopefully it will all fit together. However, your Jeremiah 29:11 made me smile because i have that scripture on my wall in my office and many of the ladies that work for me come to me for spiritual guidance and that is the scripture that i have them write down and repeat on a daily basis. So i look at you and say to myself, God has no respect of person, what he did for you he can do for me and that is all the inspiration i need so thank you for making it and in doing so making a way for me. God Bless You and all your Future deals.

My interest is and probably always will be real estate. My own personal situation however, is clouding my thinking. How do you create something out of nothing? We have struggled with finances due to periods of unemployment which sucked the life out of any reserves and has put our home in jeopardy. It is now, a day to day existance. Some days are fine, I just keep going and doing what I can. But other days cut into my integrity and self-worth. I don't like owing anyone! I have to swallow my pride sometimes, and it is an awful, awful feeling. I am the main one dealing with all of it, because my husband had to seek work in another state to get a paycheck, which leaves me to handle everything else. Not his fault, just the reality we deal with. I could go on, but I really don't want to make this a downer rant.

I look for stories of incouragement, the "how you did it" stories that can give me inspiration to reach for my dream. Any links or suggestions would be greatly appreciated. I dont have the extra money for some of the programs on here, so anything I can get from these forums, I do. This is a very encouraging crowd here and I look forward to hearing from you.

To all of the seasoned RE Investors...
We (green-newbie-rookie REIs) THANK YOU in advance [& forevermore] for sharing your knowhow and experiences in your personal REI journeys!!! The blogs here are Priceless!!! It helps us to believe and build our confidence in our own journey to success! It helps to SEE the possibilities.
Ya just don't know...We appreciate you giving back!

I believe Joe has a GREAT idea! ~Thanks, Joe!

HAPPY, HAPPY NEW YEAR EVERYONE!

I have read many, many of your posts. Thank you so much for the posts and all you do to help us on this site. Wow, Joe you are a very much appreciated DG.com role model. Best wishes to you and your family this year (and all the years to come).

I agree with everything you have said Joe. And I would like to say thank you to Larry (the Flip_Kid ) and to Randy and Laura for taking a new person who has not yet made anything from real estate and taking them under their wings and teaching and mentoring them. Sharing your knowledge and your good fortune with someone who is just starting is something that you cannot put a price on. As the commercial says PRICELESS.

Steve

Hello everyone!

Sorry if my post is redundant, but I've tried looking through and perhaps due to the time limit, not seeing it.

I received a call from a homeowner who received one of my yellow letters and wants to meet with me tomorrow. The home is being foreclosed in march.

Apart from the prelim info, that I've already taken, what else do I need. I have all my forms and checklist. Do I need to get her info from the bank and is this foreclosure possible to stop? Please any help would be greatly appreciated.

I also have another situation where a gentleman is trying to sell his 6/3 bedroom house. He wants out! Loan is 265K, the house is worth in the mid 300's. zestimate right now is about 250K. Has tenants living with a 2-year lease and 6 months already in.

Any help would be greatly appreciated.

i totally agree. A new topic section would be great for new people with alot of questions

We are newbies, we haven't done any deals yet, not sure if I'm wasting time doing all of this business setup stuff. Tell me if I am. We have a CPA and we are going to get a bookeeper soon. We are getting ready to make the money and are trying to not get ourselves in deep doo doo tax and bookeeping wise, which is why I've been doing this. Anyway, on the business end, we want to try to do double escrow (simultaneous closings). Our problem, or maybe mine, is that I'm not sure who I need to go to do the actual closings? Is that a title company or a lawyer/broker etc. We know we will have to do alot inquiries, as we've come across a few REA who say that the title companies they work with do not do them.

Does anyone have any help on how we can go forward?

One of the things that makes Dean and Dean's site so successful and helpful is the wealth of information and the ability to always stay a newbie. The minute we begin to think we know enough is the minute we begin to move backward. I did not finish college by choice. I spend every day in search of more knowledge. That used to be enough for me. I know a lot but i never know enough. Taking action is the only way to be successful. I sat on the sidelines and let others plan and guide my life while I just followed until i began with Dean's site and books. Since ordering Dean's RockBottom Blueprint I have been setting and achieving goals, not all of them but usually because i did not put a timeline on the goal.
thanks to all who contribute and mkae this site great. i am forever grateful and encouraged.
Andy

Hi you know whats great people are asking for help, thats the first step to over coming fear.When we start some thing new we are a little scared, get over it.When we started school how did we feel, we didnt know what to exspect but we went and boy did we have fun.Now maybe not every day but most of the time and we got involved and started to network by talking and making new friends and buy asking questions and sharing just like here.I dont have all the answers but I love to learn and I cant wait to get up each morning and meet new people and learn new ways,new thoughts, get farther out of of the comfort zone thats where you find the real fruit and gems in life.Nothing tryed nothing gained, were going to have yes and nos and everything in between but were going to grow and have a wonderful time and make a difference in other peoples lives as well as ours.Dean has the best program ever( Ieve spent way far more and got nothing)and he delivers and this DGer family is awesome and yo wont get this any where else.Open up and tell us how you feel, were a family, a team and we love to share. If we knew it all life would be boring, will never stop learning if we are truely living are lives to the full and what a difference we can make in this world and for us as well.Put your fears behind and get involved, you will be gald you did, its going to be awesome journey,for get about your age, how much you know, your problems and what you might think you lack, you can learn and you will be successful, Jim

I am now unemployed and collecting. My question is if the only monies I have is thru the IRA, worth 10k, which I recently transferred to Fedelity from my 401k, how can I use this to my advantage? I totally want to invest this money. We have oil drilling now in our area, (fracking), so this area is certainly a market which is growing and a market I would consider a smart location to put my money.
However there is a investor that clearly has an inside connection, each and every time a home goes on the market she or he takes it. I have inquired on several homes and each time I get a response, that it is pending, even tho, it does not show this on Zillow, this has been status quo for months.
They have lots of money & my peanuts can't compare I know but I want a piece of the pie. Any advise would SO be appreciated. Please help.

My husband and I made our first assignment deal through bandit signs and we are so excited! The house ARV is $162K and we got in under contract for $89K. There were rehab costs, but we made $5,000 on the deal. It was great to see it all come together. We are working on our second deal and this is where we need some advice. Wea re still planning on assigning, but we are taking the house "subject to". I called the sellers mortgage company today, and found out the loan information she gave me was incorrect and hasn't been with that company since 2009. Where do we go from here? Also, has anyone had any success with the 25:1 strategy using a realtor? We can't seem to find any listings on the MLS that will even take our offer seriously. We are wondering if we should just try other strategies.... any advice is appreicated!! Thanks!

Hi, I'm a newbie myself but the one thing that I am finding is the best thing you can do is get a real estate agent that CURRENTLY works with investors. They are priceless because they are in the trenches and can save you a lot of time and headaches!

I used Matt Larsons strategy and sent an email to about 100 different agents spelling out exactly what I wanted and why. It was advice from Deans book 30 Days to Real Estate Cash. It worked!!! I received about 5 responses in about an hour of sending the emails. I spoke with all of them and almost went with one agent but she started to get reistant. So I backed out. Then I got a hold of one that currently works with investors and has been an investor herself. She has bird dogged, assigned, double closed, etc. She was so positive and super ready to go. She knew exactly what I wanted to the point that we were finishing each others sentences. We are in two different states (my choice). But the best news of all is that she has a power team already in place. Since I am not there to do the footwork, she will have to be my eyes and ears (although I will continue to do my own research).

GET AN AGENT THAT CURRENTLY WORKS WITH INVESTORS. It will make things easier.

Good luck!

Michelle

Wow! Congrats on getting the first deal done! I am working on mine as we speak. I love to see that people are taking action and truly making this business work

According to Deans book 30 days to real estate cash, the 25:1 strategy with the MLS only works if you are focusing on specific criteria in your search. Are the sellers motivated? Do you know this according to the listing notes?

Good luck to you!

Michelle

Hi everybody.

I don't know how anyone else feels about the "FEAR FACTOR", but to me: Fear is nothing more than thoughts of unanswered questions- THE NOT KNOWING....so.... just get yourselves busy....ask, ask, ask---and, read, read, read. There will not ever be a better time than NOW !!!

I started in this site in Oct. of last year. Had to take some time for the loss of my sister. But I'm on track( I think) now. Recently signed up for the academy....I'm having a blast. Read stuff- BEFORE and NOW- 'til I thought my head was gonna fall off. But I love this stuff, can't get enough of it.

I have a closing at the end of month that i got before signing up for the academy,hope it goes ok. My buyer changed his mind...so gotta get another one. I'm working on that.

I still consider myself a newbie, I'll always be a student.

I know it sounds cheesy, but act like a sponge....soak up as much as u can....if u read the books...any of'em...read them again !!!

Thanks JOE and RINA --Great thoughts and inspiration, as usual.

Have a great week everybody , ERSIE

this husband and wife duo is awesome so read read read....

have they posted since

This is my first post after my first read on Dean's website. We started this journey in January. Last night I made 23 bandit signs (I wrote the wrong phone number on the 1 1st 2). I made 5 buyer bandit signs for every 1 seller bandit sign. (I need to get buyers 1st so I'm ready to match my sellers). Where can I place my signs near Wal-Mart's and McDonald's properties? Help!

thats exactly where, Mcdonalds and walmarts have done research on where to place their stores which is at busy intersections so use them to place your signs, I would prob put them up on a friday after 5pm and pick them up sun after 5pm again so you keep some of your signs.

Way to go keep it up! Keep working towards your goal and you will have success guaranteed!

You've had this blog going since 2009. That is very impressive and I thank you. Let me give you as brief a story as I can, you've heard tones of them I'm sure.

I've been dabbling in obtaining realestate knowledge since, well for a long time (On and off for YEARS) However I really haven't "ever" done a single thing.

A few years ago I asked someone here on this site to show me how that unemployed lady with several kids and one disabled child managed to get into this business without money credit or downpayment... I mean the lady had something like 35 dollars in her checking account... Wow I told myself... I can do that! so I asked please, How exactly did she do that?

He didn't know he confessed, I was told that they'd find out but alas, I'm still waiting to for that response... Today I am no longer asking. I know I have to buy something to get that type of help so I ask myself. If these investors really do all this and I actually believe you do.

There's THOUSANDS of Realestate investors all over the DG system! They should have! They (MUST HAVE) a website that has all of these properties ready to be rented to own.. Heck I'd like to rent to own and then I can see how thats done and do some of those for me. In the mean time I'd love to buy instead of still rent.

There are those sites as im sure you know but they are pay sites that supposedly have these great and local rent to own properties and the claims are amazing. However the thing in my mind is, If these properties are real then getting people to see your product is essential! You should be wanting to get as many people to them as you can! Fresh new prospects on a regular basis 24-7! Heck you'd even pay to get them there for FREE!!!! So, maybe im wrong but having to pay these site to join doesn't pass the smell test... Somehow that doesn't sound kosher in my understanding.

So it occurred to me to come here looking for those of your students or contributors who actually have these types of properties and see if i could be one of those rent to own buyers and offer myself up as a good fresh motivated prospect lead.

I am so looking forward to hopefully hearing from you soon

Thank you for your time, Charles V.

Thanks all you DG Mentors for all you help us beginners. It has helped me so much as a beginner. I made my first offer today, a duplex,I will rehab and keep. I am very confident it will be accepted. the numbers work, and I only as a bargaining practice offered 11% under the asking price. At asking, the numbers worked so well, 60% pos cash flow at $700 a month, even going very conservative on ARV, and a high rehab budget to cover anything that could go wrong. It has only been 33 days since I got my laptop and got serious !! My goal is 12 deals of over $25000 this year !! I am very confident I can achieve this !! Thank Y'all from the depths of my heart !! Duane

Excellent Duane!
sounds great - keep up the good work!

For your support. I have some good momentum going, Thanks to Dean and y'all, Duane

up

Hi, I'm from Indiana and I am just doing my very first deal and have more anxiety than I'd like to admit. I have made an arrangement to receive a house for no cash upfront. After I do the repairs and sell the house, I will be using the money from the sale of the house to do repairs to the seller's primary residence.

This is a unique arrangement I'm sure. I've been seeking the services of an attorney to do the contract and all necessary paperwork for me to make sure I do everything correctly. The attorney told me it would $1500 for the contract and closing. Has anyone ever had such a deal or have any suggestions on the best way to structure this type of deal?

Also, can anyone give me any insight regarding the quote of $1500 from the attorney? Is that a reasonable price for the services?

northwesteliteinvest@****

Hello all!

Does anyone know if the R.E.P.S course is available for purchase? Thanks in advance.

I am brand new. I found a realtor. She showed me a house that looks like a killer deal. I am nervous because I don't have any buyers yet. I spent the day today sending out letters and emails looking for buyers. I actually got back 1 response so far. I don't know if I can make this deal, only because I don't know very much, but even if I don't make this deal the learning experience will be invaluable.
Phil