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

Congratulations on your start. I would recommend reading Dean's books several times to really get the ideas and information. Look at joining a local investment club and network with other investors in the area. Create a plan with goals of action items you will do the next week, month and maybe even year. Good luck with real estate investing. Believe and Achieve! - Joe

i'm also new 1 month, have a buyer,know what they want and have found many homes in the area ,havent talked to the realestate agents who list them yet.buyer will need to get a loan which shouldn't be a problem? just trying to get all papers together.hopefully will just be an assignment.still unsure about the whole process,but i'll keep going.i've also been layed off for 3 months but thats the nature of my job.I have to go back to work out of town for 3 months at end of august then will be off again,so i'll do my best on this one and i'll let know what happens.yes i'm very nervous,so off to the races so to speak.

I think alot of us are having the same problems. I'm figuring out that marketing and networking is the key to all this. Once you find a buyer and a seller it almost goes on autopilot with you there guiding it. The trouble is just getting that first one started, getting your feet wet and the uncertainty gone. I've been back home for two days now. As of today I have talked to two buyers. I know what they want and where they want it. I'm so close to a deal I can smell it. I am very confident that before I go back to work in a week and a half I will have something on paper. I talked to a RE guru in my area this morning that recently started a REI club. Thier next meeting is Monday evening. I plan on being there with bells on. Thanks for the info about the flyers and business cards. I remember reading that now. How easy we forget when we are a little overwheled. Anxious to read more posts on other updates and successes. Keep it up Joe, I'm glued.

Fear Not,
Jeff

Congratulations for taking the step forward into real estate. It can be a learning process and each month you may learn a little more than the prior month. This knowledge can become power as the next potential deal presents itself. Sometimes it is the preparation to get ready when the time presents itself. It sounds like your on the right track. Good luck with real estate investing. Believe and Achieve! - Joe

Thanks for the comments and additional insight. I learn something new on the DG website everyday and I believe it is a great resource for investors. I often refer back to Dean's books for additional ideas and insight. Each day we make our tool bag a little more filled with additional items that we can use and try when we face the next challenge. Continued success on your investing. Believe and Achieve! - Joe

I too am a newbie. I ordered Dean's book about 3 months ago but put it aside until now. I was re-inspired by his infomercial again and decided to go for it. I'll need all the help I can get. I think this forum is just what I need to encourage me to go forward. Thanks to all the seasoned ones.

Hello,

I currently own a home in colorado. When i went into the home i went into with a partner and are currently living at the house. When i got this house i got it at no money down. I currently have a 680 credit score and make a little over 50,000 a year. Does anyone know how the process is now with the banks and if i would still be able to qualify with a no money down option

Congratulations on taking action and getting Dean's book. It is packed with great information, tips and strategies. Now is the time to make a plan and take action. First read the book and then try to referrence and reread it again. Set some goals for this week, next week, the month, year, etc. Work the goals and before long, good things should happen. Good luck with real estate investing. Believe and Achieve! - Joe

You may want to run the numbers and see how much is currently owed on the home and see what it may be appraised at. A realtor could probably give you a good idea of what similar homes are selling for in your area. If there is enough equity in the home, you may be able to do a refinance to buy the partner out of his half. Check with local mortgage brokers and banks in yoru area to see what programs are offered. I hope this helps. Good luck. Believe and Achieve! - Joe

Very inspiring and helpful.It's people like you that help make a terrific site even better(possible?). I too am a newbe and need to get my feet wet. Thanks everyone. Silverhound. (WHAT BOX?)

Thanks for the nice comments. The DG website is great because we can learn something new each day and there is so much great information and members here. I hope you have much success with real estate investing and we look forward to regarding about your progress. Believe and Achieve! - Joe

I don't think I've posted this before, but I came across a property that's nearby where I live. I've had my eye on this house for quite some time. It's a 3bd. 1.5 bath home. I haven't seen the interior, but I did call about it as it had a FOR RENT sign in the yard. The person I talked to said that it has been renovated. The owner wants to rent it for $2,500/mo. So I asked her if the owner would be open to selling it and she said yes. My next question was how much and she said $580,000! Crap!

So I did a little research on the property on Zillow and it seems the current owner bought it in April for $417K. He's now hoping to selling it for $580K. Houses have sold in the area at a low of $533 to a high of $646K. The thing is this property is still sitting empty for at least three months. So the owner has not been able to get a renter. Is this place just a dud or is it the market and is there any way make money off this house. This is such a weird market where I live.

I'm like most of the other Newbies, having fear of the unproven, but, getting more motivated each day. I've had a lot of problems getting started but am overcoming them. Just finished "Profit from Real estate" and will now start on the "Be a Real Estate Millionaire". A few of my obstacales include working three weeks on and three weeks off( Marine Industry)and not much money for investing.

I will post again in a month, with a much better progress detail.

Johnny

If you can acqire a property at the right price, it can be a good property. The keys include knowing what the home looks like on the inside and outside. Then, get recent comps of other similar homes that sold in the past 6 months. This may give you a better idea about the home's value. Then, determinee an exit strategy if you were able to buy the home such as assigning it, buy and hold to rent, etc. I hope this helps. Good luck on this potential deal. Believe and Achieve! - Joe

Congratulations on taking the step to start real estate investing. Dean's books are packed with great information and strategies. Even if you learn a little each week, it gives you that much more knowledge when a future deal may come your way! Sometimes, it is not how much time you have avilable, but how you utilize the time you do have. Good luck with real estate investing. Believe and Achieve! - Joe

Congratulations on taking the step to start real estate investing. Dean's books are packed with great information and strategies. Even if you learn a little each week, it gives you that much more knowledge when a future deal may come your way! Sometimes, it is not how much time you have avilable, but how you utilize the time you do have. Good luck with real estate investing. Believe and Achieve! - Joe

Hi all,

my name is Russ McNeal and im new and looking for a mentor. I'm in the Denver area. I would like to partner with and help show me Deans techniques...

Hi Karen, regarding that house you explained here, see if the homeowner is interested in doing a Lease/Option. I hope you get that property

Joe, keep up the good work & everyone that is making a difference for the better in their own life & family.

Since this is a question that a new investor would ask. When you inspect a home & there is Mold in the basement what is the best solution to deal with this problem. I posted a Bullentin on it so be sure to send in your input on this matter about "Molds" so everyone can learn from your experience.

Everyone Can Make A Difference!
John A

Welcome to the DG forum. Good luck with Real estate investing and working with a mentor. The DG website is packed with great information and helpful members. Believe and Achieve! - Joe

Thanks for the comments. I left some information on your forum topic about mold issues. I hope this helps. Good luck with all your deals. Believe and Achieve! - Joe

Hi all

I too am a newbie, read DG book,want to join the Academy,i am in AZ
and looking for mentors and partners i talked to a few RA and they
laughed at what i wanted to do, LOL, so on with the search,i figure
theres money out there to be made,why cant i have some. THRU CHRIST
I CAN DO ANYTHING. EIARON in Az

Well, the best thing I've heard is keep going by the property to see if a for sale sign is on the lawn. Then look at who the Realtor is on the sign and give them a call and introduce yourself. They may have more listings not on the MLS, that's what I have read. I hope there are more ideas out there, You keep going, your taking action and that is what counts. Keep positive and move forward.

Bill G

Hey everyone,

My name is Timothy and I have had this mentality of "doing it ALL by myself". I didn't think that I needed any advice. I thought that I could just pick up Dean's book, read the material and have the confidence to tread through uncharted waters. Since I've begun my journey it feels as though the further I go, the more insecure and unsure I become. My logic, apparently, has decideed to transform into fear. Fear that I knew that I had, but thought that I could control. And, that, in turn, has made it harder for me to grasp anything that Dean has talked about that last four times that I read them. It's like I have the knowledge, but don't know what to do with it, I guess. I don't know... Anyone else feel or felt that way before? Knowing that you have the ability to find profitable deals, but forgetting what to do after?

Indiana-Joe has hit a hot topic, the idea of being mentored can take on many different avenues. Most people choose to drive down the wrong way because they become focused on live mentors. They don't realize that mentors can also be video's, audio, books, files, blogs, you get the idea. I was one of those who drove the wrong way until I learned that mentors are available everywhere and most of the time they are within walking distance like the internet so don't ya'll end up driving the wrong way wasting precious time and energy. Dean and his team are great mentors and if you're reading the articles, the blogs, and videos; you will be driving the road to success and if something isn't on the map you can ALWAYS ASK! I don't want to address age but instead experience, those that have the experience should be sought out and their brains picked because all the gold isn't gone. In closing, maybe the "Blitz" has create a new road to successful real estate investing and the road may indeed be paved in gold. Mentors can make all the difference in the world.

Bill G.

Congratulations on taking action with real estate. It is great that you will not let anyone discourage you from your dream. Dreams can become reality if we stay the course. Good luck with real estate investing, working with partners and mentors. Local real estate clubs are great resources for meeting others and networking. Good luck on all your future deals! Believe and Achieve! - Joe

Thanks for sharing the tip and information about other leads that are not on the MLS. Another thing I found is sellers (especially Banks on REOs) will usually make a price adjustment every 30 days if the property has not sold. Once you see a pattern of days on proeprties in youri area, this could benefit you while tracking and making offers for proeprties on your radar. Another tip would be to look at ll FSBO proeprties in your local area of intrest. Pass out your card to all the selelrs, even if you do not have an intrest. If tehre homedeos not sell they usually go with a realtor. In some cases I believe a seller may call you before a realtor and you both could benefit from a quick sale. I hope this helps. Good luck on all yoru future deals. Believe and Achieve! - Joe

Congratulations on reading Dean's book and being part of the greatest Real estate website anywhere, the DG.com website. Do not be afraid of the unchartered waters ahead because Dean has provided a course for all of us to follow and find success! There are always safe harbours along the way as you explore these new waters! Everyone always has fear or may second guess, that is natural. It shows that we are really thinking about the decision rathering than just jumping in with both feet. I often think of great athletes that talk about fear and how they overcome and deal with it. "Never let the fear of striking out get in your way." - Babe Ruth

It is natural and it is how we deal with our fear that determines our destination. Another key is to establish a plan and work the plan. That way you have a checklist and you know what to do every step along the way. I often refer back to Dean's books for information and inspiration. Think of Dean's books as a reference guide packed with great information. Good luck on all your deals! Believe and Achieve! - Joe

Thanks for sharing your thoughts and insight about mentors. This is a great post. The best mentors are sometimes people we may not even think of. This post really makes people think about the mentors all around them. Thanks for sharing your thoughts. Continued success with your real estate investing. Believe and Achieve! - Joe

Thanks, that is helpful. I've been going over this in my head so many times to figure out how to do this. I know it has a lot to do with feeling inadequate and getting rejected. I will keep everyone updated with my success.

Thanks,

Romaine

Good luck and keep the faith. A postive attitude and confidence can be half the battle. Stay focues and persistent.

“Ability is what you're capable of doing. Motivation determines what you do. Attitude determines how well you do it.” - Lou Holtz

Good luck with all your future deals. Believe and Achieve! - Joe