OfflineI want to share my experience with everyone especially those people who may be a bit skeptical or maybe those who are not confident that they can succeed using Dean's strategies. It has not been easy, but I just got the paperwork for my 1st accepted offer!! I'm buying a bank owned property with absolutely none of my own money or credit. That's a good thing because I've been unemployed for the past 9 months so I have no money and my credit is fair at best. I have another offer that I expect will be accepted in the next day or two in addition to about 15 other open offers. How?? It's a long story, but I'll try to keep it brief. I purchased Dean's book in early May of this year, read it twice and joined the success academy at the end of May. Joining the success academy was a big deal for me being unemployed without much savings and a family to support. For the next couple of months, I did a lot of the coursework, studied this site for hours every day, looked at properties and tried to figure out which direction to go. Then, another setback. August 19, I had open heart surgery to correct a valve problem and an aneurysm which could have killed me at anytime if not discovered during tests. Upon my release from the hospital, I decided it was time to do something that I've read about and heard Dean talk about hundreds of times. That was to TAKE ACTION!! I had nothing but time as my activities were limited as I recovered and regained my strength. What better time then now? I called a real estate investment club close to my house to inquire about their meetings and membership, etc... Much to my surprise, the person I had contacted was an officer in the club and his wife was the VP. We talked awhile and I told him of my situation and what I wanted to do and I still cannot get over his response. He told me to bring him the deals and he would put up the money and we'd split the profits. He went on to say that if he didn't want my deals, he has at least 8 other buyers that he could pass the deal along to. Ok, so now I had a buyer's list and it only took one phone call! By the way, I joined the REI club and will probably become an officer when elections are held next year. You cannot have too many friends like that!! Next, I found a realtor by using the agent interview questions discussed in Dean's book and info on this site. I decided to target bank owned properties and HUD properties and spent September looking at homes and researching values and developing an offer strategy. I started making offers in October and quickly learned that HUD properties probably weren't for me as they usually go for amounts higher than their listed price in my target areas (suburbs of and select areas in Indianapolis). I incorporated Matt Larson's 25:1 idea and started making offers on bank owned properties. In the last 3 weeks, I've placed approximately 35 offers with 15 of them still open, one accepted and another very close. Two of them have gone back and forth with counter offers from the banks and me resubmitting my original bids. We get closer each week, but unless I can acquire a house for 35% off FMV less the cost of repairs, then I pass on the deal. I plan on continuing with my partner for 3-5 deals until I build enough capital to finance my own deals. My first deal will net me about $10K-$15K. If I get the 2nd as I expect, I will net approximately $20K. My goal that I set for myself at the beginning of October was 5 deals before the end of the year. I'll keep pushing and keep 15-20 offers on the table at all times. When I achieve my goal, I will be "retired" from the work force forever. REI is like a freight train...Once you're rolling, it's tough to stop! I apologize for the length of this but I just wanted to show everyone that regardless of your financial situation, you can succeed by using Dean's strategies and TAKING ACTION!!
Bill
I think your story is awesome and very motivating. I also went through an investment group to start getting deals, an idea that I learned about through reading one of Deans books. I think that's a really good place to go if you are a little scared to start, because they help show you where to go in your neighborhood exactly and it's free to join!!! Great posting, I'll be praying for your health and your continued success.
Thanks,
Brian
THANKS! Needed to hear exactly how someone started under similar financial circumstances. Amazes me that you had the strength & courage to take what for me seemed a stressful step. But I know when we reach the ultimatim, fear turns into an adventure and we go for it. YOU keep up the good work and get some water soluble magnesium and oil of magnesium to strengthen your heart. I'd tell you where if you're interested but don't know if I can mention that here. Alternative Medicine is my 1st love, since it's given me the power and energy to start in Real Estate and I don't have to worry for my health once my finances are finally in order. Seen that happen to so many who hit it rich but can't enjoy the booty.
So hang in there!
THANKS AGAIN!
Anastasia
CONGRATS!
I needed to hear your story. I joined the end of October 2009 and have not made my first deal yet. I am getting closer and closer. I meet with my RE Agent in a couple of days and I'm starting to get cold feet. Not about speaking with the agent, but getting closer to actually taking action to complete a deal. My confidence is swaying a little, but I'm not giving up.
You were fortunate to get that kind of help with one phone call. Talk about some luck. I'm happy for you and wish for your continued success. Like you, once I make that first deal there is going to be no stopping me!
Happy Investing and I'll see you soon in that Winner's Circle! Save me a place!
Always striving to move forward toward better times!
Verna (newage8767)
Way to go Bill, it is great to read about your success. Keep up the good work and keep posting your new deals. I am from Indianapolis also the east side. I am looking for a real estate club to join. If you could pass along some information to me on your REI club it would greatly be appreciated. Thank You ---- Kolby
A fantastic motivational story bill, as well as inspiring to all the future rei's on this site..........just the kind of stories that are needed! Action will overcome the fear, as long as the knowledge is in your heart and mind.
Jeff
Bill what a way to go. You story inspired me. I am starting over in the business, and this give me so much hope although I am putting deals togather I always wanted to know how REO deals happened... Blessing to you always..
Keep making it happen!!!!!
ANyone who is just getting into this business. Real Estate is the way out of a life of gloom. Always stay focused and know that anything you put your energy into will bring a reward as long as you stay committed. Failure is not an option!! Winning is a MUST
Thanks so much for posting this. I needed to hear this and see that if you really put the information in action it will work. I have been looking into this and tried to do a few deals but they didn't happen and was doubting if it ever really would. Now I see that if you are persistent and take action things will happen. Thanks again. These are the things we need to hear to keep us motivated.
I just saw this, guess it was on here for a while. AWESOME!!!!
... Verses: 35 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles; They will run and not grow weary, They will walk and not be faint." Isaiah 40:31 ...
Great story ( TAKE ACTION .) Good going 9710
Bill your story is great and massive inspiration to all. I am currently looking into Dean and what he has offer. I have spent most of the day, just reading the site and taking in so much information. With each post that I read, my courage to continue grows.
Much success to you and everyone else.
Debrah
It was very thoughtful of you to share part of your life to inspire others.You definitely inspired me. Thank you Sir.I wish you and your family the best.
"I've learned that success is to be measured not so much by the position one has reached in life as by the obstacles overcome while trying to succeed."Booker T. Washington
Thank you for your words of inspiration. Also, for the confidence and encouragement from everyone here. I haven't yet received my books but I've been reading everything on here I can. I've also inquired about the academy.
At present there are many negative people around me. I want to prove them wrong, but most of all I want to put my fears behind me and prove myself wrong.
I Can Do This!!!
Thanks again and I hope you have many more great successes!
Jeannie
Jeannie
thanks for sharing....
Bill,
A very inspirational experience you've had. Continued good health and success as an investor. I was recently sidelined for medical reasons, nothing serious but I will be out of work 1-2 months minimum. I have not done my 1st deal but now is definitely the right time to dig and get it done. I have no excuses right now.
Thanks for sharing,
Greg
I really encourage you to take action you wont regret it. You will feel like youve never felt before, believe me. And you dont have to risk any of your money it's all really no money down, well except for your earnest money deposit but that is refundable if you pull out of the deal and keep it as low as possible.
for example in kc mo I use $250-$500-all refundable if i during the inspection period cancel because my buyers dont want the property i am trying to wholesale, so go for it you have everything to gain & literally nothing to lose!
and with fsbo's only use $1.00 or $10.00 or even if it is $100 it's still low & again you can always have that refunded, just make sure you have an inspection clause which all MLS contracts have, but make sure anyways
God bless.
Tony
Go faster do more! GFDM!
IINSPIRATIONAL !! Thanks for sharing with everyone !!!
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this
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
great story thank you for sharing it. Happy Investing
"Don't tell me I can't, Tell me how I can."
Wow, Bill, AWESOME!!!!
Thanks so much for sharing. I've read all these success stories time and time again. Yours is an inspiration. Thanks! Your so right, Go for it!!! I too, am scared of that first, second phone call, but with people like you to inspire people like me, how awesome is that. May all your wishes come true. Keep up the positive posts for the rest of us scaredy cats. Thanks again.
Toni
Hi Bill never apologize for your success we need to hear from you and all the rest who now can say yes it does work!!!!!!! We are all over joyed about your success and moving foreward to make it happen.This might sound odd and even crazy but maybe there was a real blessing with your heart condition to get this going, adversity can bring out the very best in us if we look at it that way, it can be a awesome stepping stone to greater things and you have proved that as well, never look back my fellow DGer and investor, keep her going, sincerely, Jim ( I dont remember how many times I have been told, all Iam doing is gambling on this , I dont gamble on any thing and I know the value of this and it will and does work)
jbischoff
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Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools