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

Thanks for the comments. You may want to see if there is an investment group in your area. This may give you others to network with. The DG website is growing so in time we will have even more members from all over the country. Thanks for your shout out and encouragement to others. Looking forward to hearing form new members! Good luck on all your deals. Believe and Achieve! - Joe

Take Action today and don't delay. Let's get out there and see what adventure is waiting for us! Believe and Achieve! - Joe

"Well done is better than well said."
~ Benjamin Franklin

"Never confuse motion with action."
~ Benjamin Franklin

"You don't have to be great to get started, but you have to get started to be great."
~ Les Brown

"It's not what you know, it's what you do with what you know."
~ Unknown

"Small deeds done are better than great deeds planned."
~ Peter Marshall

"An ounce of action is worth a ton of theory."
~ Friedrich Engels

Thats good stuff Joe. I think we need to hear stuff like that sometimes to keep us going. I appreciate it keep it up and God bless.

Fear Not,
Jeff

Thanks for the comments and insight. The key is to keep the faith and keep moving forward because good things are sure to follow. Good luck on all your current and future deals! Believe and Achieve! - Joe

That's probably the main thing to do is to keep moving forward. I kinda feel like I'm stuck in a rut right now. That deal is just right there some days, and then it just disappears. I try to focus on the end goal and not the day to day tasks that come along with it. Still working hard at it and not going to give up. It's coming together and I'm getting closer.

Fear Not,
Jeff

Part one Mike send PM simply means to Send People Mail

Part two: I just got finished reading Dean's books Profit from real estate right now and be a real estate millioniare. However, the light bulb hasn't come on yet! My landlord has put the house on the market,it's a short sale and has been on the market for 51 days. How can I buy this house no money down and not having to show any credit because its not that good?

Keep the faith and keep doing all the right things and it will happen. There are some days we all miss a good deal but we have to be looking forward rather than behind so we do not miss even more deals. A helpful key is to have several homes on your radar that you watch and make offers on. Hopefully that way you do not spend too much time on just one property and then it sells. Keep up the good work and I am looking forward to hearing about your next deal. Believe and Achieve! - Joe

Try to determine what amount the bank may accept with a short sale, less money that what is currently owed. If you want the home to live in, the bank may finance the home for you and you could try a no money down deal. If the landlord just wants out, could you find another buyer and do a sandwhich lease option? It would depend on several things such as what is the home worth today? What is owed on the home currently? How flexible is the bank and how flexible is the seller. Good luck with this property. Believe and Achieve! - Joe

Hi, i'm new to the site, and I to look foward to becoming a success in real estate investing. I've bought the other products that are being sold on real estate, to no avail. I've seen Dean on tv for a number of years, I like what he has to offer so far. I ordered the first book a few months ago, but like so many others, read it and thought negatively, you know, "this can't work for me!" But after watching the new one, i've got a renewed interest in it! I'm like others i've read about (unemployed, and frustrated about finances), I'd rather work for myself instead, and this is why i've joined this site. I would love to have a mentor that is using these technics, and would be willing to teach me how to implement the same for myself and my family. I'd like a response on this if possible, thank you Dean and gang!

Congratulations on joining the DG website community. There is a variety of great information on the DG website. The website members all work and support each other and are a great resource. Dean's videos and the information he provides is a great mentoring resource as well. If you are interested in a more structured mentoring program tailored toward your individual needs, you may want to look into Dean's Success Academy. Good luck with real estate investing. Believe and Achieve! - Joe

OMG, I like this thread! Thanks for starting it. I've managed to read just half way and need to return later. Lots of great information.
I'm pretty new to the game. I've read "Profit from Real Estate" and am working on reading "Be A Real Estate Millionaire." My husband and I have a couple cash flow properties; however, we wish to move to the next level so I am learning as much as I can.

Thanks for the nice comments, I am glad you enjoy the topic. Congratulations on getting and reading Dean's books. They are packedwith great information, tips, strategies and techniques. I look forward to hearing about your future deals. Good luck with real estate investing! Believe and Achieve! - Joe

Deans book and the contents in each chapter provides an impetus to go out there and take action.

I am raring to go but there is still so much doubt and ignorance about the whole process, the paperwork whethter I will be able to do it etc.
Still do not know where ot start.

Congratulations on reading Dean's book, it is packed with tips, strategies and great information. It is a good idea to read it more than once because you do get additional tidbits each additional read. Also, some of the sections may make more sense as you apply the concepts and generate additional ideas. Good luck with real estate investing. Believe and Achieve! - Joe

Thanks Joe,

I will keep everybody posted on my progess in days to come.... Your advise to get a prop under sntract well taken and have engaged my wife in finding properties in our area.

Only problem most of these are listed by Brokers.
Good thing I know two of these brokers (Agents).

Bimal

In regards to finding more homes, try to pass out more business cards. On the business cards it may read "we buy homes". Plus network with as many people as you can. You may want to look at joining a local investment club because investors normally have properties for sale that are not on the market. Also, if you see a home in your area that has high grass and looks like an opportunity, just send the owner a postcard or a letter inquiring if their home is for sale. Some of the best bargains you fnd may not even have a for sale sign in front of them. Believe and Achieve! - Joe

I will do that.

Thanks,
Bimal

Reading through all of the postings on this thread has provided a wealth of knowledge and motivation for me. Thanks to everyone posting and especially Indiana Joe. Thank you for spending your time with us newbies.

Thank you for the nice comments. I am glad to hear that the topic and discussion on this thread has been helpful. I hope the thread continues and more Members share their insight and comments for others to learn and grow. Good luck with real estate investing. Believe and Achieve! - Joe

"Be the change you want to see in the world." ~ Gandhi

"Mentoring is a brain to pick, an ear to listen, and a push in the right direction." ~ John Crosby

"We make a living by what we get, we make a life by what we give." ~ Winston Churchill

"Do not wait for leaders; do it alone, person to person." ~ Mother Theresa

"One of things I keep learning is that the secret of being happy is doing things for other people." ~ **** Gregory

"I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel." ~ Maya Angelou

Congratulations to you and your wife on what you have been able to build for yourselves! I've finally read DG's 45-page newsletter he issued earlier this month. It's inspiring to read all the success stories of students. But I was wondering...is it possible to succeed without joining the Success Academy?

Hi, I am a newby. This is my first time leaving a comment. I am almost finished reading Deans Book "PROFIT FROM REAL ESTATE RIGHT NOW" and I am really excited. I am excited and scared all at the same time. I can't wait to get started toward a wonderful future. I have fears of not nowing if i now enough. There are a million Questions swirling around in my head and I think the biggest one is which step do I take first? I know once I get off and running I will feel more confident. After i get that first deal done and prove to myself that I can do this... I'll just take off. I have great determination and am a very tenacious person. I do sometimes just need a little direction to get started.

Any input would be greatly appreciated.

thanks,

kimberly dixon

Thanks for the congrats and nice comments, we appreciate it. I believe anyone can succeed if they read Dean's books and programs, and follow a plan. The Succeess Acadmey has helped a lot of people along the way. You have to do what you can and afford at this point in time. In the future, as you have more success then look at ways to expand and build on your knowledge through additional programs, etc. You can do it! Good luck with real estate investing. Believe and Achieve! - Joe

Congratulations for reading Dean's book and being a part of the DG website. The website is packed with information and inspiration. Dean's books have a bunch of information, tips, techniques and strategies.

On of the keys is to start out with an action plan and goals. Decide what you can do each day and try to always accomplish at least one thing per day. Over time your knowledge and confidence will grow. You will learn a great deal by taking action and trying. Sometimes the more knowledge you gain is better than completing a deal. That knowledge will benefit you for years to come. You can do it! Good luck with real estate investing. Believe and Achieve! - Joe

YES (apologize for shouting-got excited there)! If you're determined, and keep pushing and persevere, you can succeed. If you don't have the funds as of the moment to join the Success Academy. Then set aside some money to join it later on. I've done a deal myself (waiting on the closing date to be set in stone)--brought REO with cash)--without enrolling in the Success Academy. I don't discredit what Coaches have done to help those who need help, who have achieve success. I want you to know you can do it. It takes a LOT of due diligence on your part and knowing your market area. I'm not AT ALL trying to discourage you from joining the Success Academy.

Thank you both for your encouraging thoughts! Believe me...I am absorbing as much as I possibly can in order to press ahead towards my first win/win/win deal.
You see, my hubbie and I have a couple deals done but they are producing negative cash flow each month. I don't just want to do deals. I want "killer deals" done that produce positive cash flow each month so that we can enjoy our days instead be slaves to our jobs each day.
Indiana-Joe - I have action steps written down, somewhere. I'll focus on that each day as I cross some out, I'll add new ones; and be happy for what I am able to complete.
Atlcamel - I've also looked at REO listings but have felt that we cannot buy them right now because our credit is temporarily "in the crapper." But then, that's where I need to focus in on strategies that don't require our funds or credit score.
I will keep reading and then re-read to answer my many questions about our "how-to's." But I have a specific question that I hope you both (or anyone reading this) could help me with...
Are either of you (or know of anyone) familiar with investing in Maui, Hawaii? My understanding is that property buyers are required to live in the property that they purchase for at least 12 to 18 months? I wanted to see if anyone knows anything about this provision because it affects my ability to match mainland buyers with local sellers. Any information would be appreciated. Thanks!

I am glad to hear you and your husband are taking action with real estate. Each day can be a learning experience as you better prepare for tomorrow's real estate deals. In Hawaii, as you look at deals one key thing to determine is the property "fee simple" or "leasehold". If the property is leasehold, you have to pay a lease for the land the property sits on. This can be a very high expense. Also, you need to be aware of special assessments for any condos you may be considering.

In regards to the resident requirements, I believe the property taxes are higher for non-owner occupied properties. You may want to reference the Maui County website. It has a lot of good information.

http://www.co.maui.hi.us/index.aspx?NID=578

There could be some opportunites with Bank foreclosures or short sales. Check with you local banks such as First Hawaiian, American Savings Bank, Hawaii National Bank, etc. Also, there may be several second homes that current owners may want to sell and could offer owner financing.

Thus, these could be some no money down possibilities for you. I hope this helps. As I type this, I'm thinking about hearing Uncle Terry narrate on the Sugar Cane Train and then going to Kimo's for a slice of hula pie! Believe and Achieve! Mahalo - Joe

Thanks for your great ideas! What do you think the best ways would be to locate homes that could be funded through owner financing?

I also forgot to mention the Maui Real Estate Weekly newspaper publication that comes out each week. It is usually available at real estate agent's offices. The good thing about the paper is it lists open houses for the week and recent sale data such as days on the market, list price and selling price of properties.

The best bet for owner financing is properties that are owned free and clear. There may be several of the second home types of properties that are owned free and clear. The sellers may be a little more motivated to sell and will be open to creative financing. Another option to look into is probate properties. These types of properties may open up other possibilities for you.

Lastly if you locate multi-unit building that are for sale and have a commercial mortgage, sometimes you may be able to assume the financing in place. Good luck and keep us updated on your progress. Belieev and Achieve! - Joe

Thank you for additional action steps. I will keep on keeping on.