WHAT IT TAKES TO BE SUCCESSFUL

i've had clients not wanting to bend over $500-$1000, asking them that over the life of the deal the difference is miniscule, they lose it, and then in hindsight, they know they messed up. I tell people all the time to bid what you can afford and bid like you want it, without ego and with business sense

I do agree. But on the deal I told you about, The brother and sister lived out of town and their mother had died, so I new they were motivated. So I guess in some ways each deal stands for themselves. Some you can really be aggressive on some and some like you say you have to use a little logic.

randy

One thing I have learn that some weeks go great. And then it hits, It seems like no
matter what you do everything seems to go wrong. BUT i guess in reality this is just dealing with life on life turn. This is another reason I have so much respect for DEAN, He never says things will always be easy, And that sometimes things don't always go the way we would like.But that OK I will just keep plugging alone.

Randy

Hey, don't be afraid to call anyone. I started in January 2010. I orderd the books and then became a student of the Academy in February. I studied and tried to work deals that I saw, but nothing worked until I did something amazing happened....the course and the book talks about joining an Investment club! Well, I did that! While at one of the meetings, I ran into an investor that had been in the business for many years. He heard me speak at a local gathering so he came over to me to say how he enjoyed my message and would love to hear me speak again sometime! I said thanks and he asked me how I was doing in real estate and I explained that I was trying to get my 1st deal done. While conversing with him, explained that he was having trouble getting someone to perform his wedding ceremony. I told him I would do it for him for free. He thanked me, we set up a time for pre-marrital counseling and the wedding date. After the wedding and honeymoon, he called me and asked me again how I was doing...I again stated that I was trying to get my first deal and he had several houses that he did not want and passed them to me so that I could do Sandwich Lease Options with them! My point to this long story is that you must be persistent, do what Dean says in the book and the course and it will happen for you!

What you said is so true. As long as a person keeps taking action things will fall into place. This is what separates the winning from the losers. But then again this pretty much goes with anything in life.

randy

Thanks Randy! I'm signing a contract today for my first deal since getting back in the game. It's a duplex that's an REO where I'm getting both sides for $60,000. Each require about $15,000 rehab work and will conservativly ARV for $70,000 each. I have multiple recent comps for sales in the last 90 days that are running in $80,000 plus range. Funding the purchase,closing costs, and rehab through a hard mony lender that functions like a private lender i.e. none of the traditional loan app stuff. Financing is based solely on the sale price and potential ARV. Off to a good start!

Tony

Great Job on the hard money lender. They are out their doing just as you say. It just takes time to get threw all the scams.

Randy

Hi Randy..I read both of Deans books Profit From Realestate Right Now and Your Town Your Realestate Profits I read the books twice and I don't seem to find any subject on how to do wholesailing..or is it under another wording what is wholesailing and how does it work do I need alot of funds to get started.your help will be greatly appreciated..KEEP ON CLIMBING THAT LADDER OF SUCCESS.. Cecelia

You might want to check out carol's journal. She goes into big detail on this subject,

Randy

Randy, I wanted to post a comment for awhile but didn't take action. So.. I have to take action. I saw you at the edge event and read your story of success, congrad's on you success. I have joined the success academy and my onsite mentor is scheduled for this thursday. Having difficult time finding a real estate agent, they don't think I'm serious and just a newbie investor. My initial focus is lease options. I'm asking for words of advise but I think I already know you answers--- take action, never give up, work with YES people. Close?

I luv it, See my taking the time to post and seeing what you were writing, It all hit home. you already new what you needed to do. Hope to here back from you some-more.

Randy

most realtors do not understand lease/options and the majority don't even know what they are. i am an investor with a real estate license and i'm speaking from experience. you would be a lot better off to go after FSBO's. realtors also want paid up front, but a lease/option is not a sale until you close the deal with the tenant/buyer cashing you out in 12-18 months or whatever time frame you set. again, go after FSBO's. hope that helps.

I think you are right to some extent. I have found Realtors will do anything I want as long as i stay legal, In which case I do anyway, And I can get very creative with Realtors to, But I always make it a win win;

Randy

please tell me more. when i sit across from a fellow realtor and mention L/O's they look at me like i was just "let out for the weekend". i would love to know about your approach and how you make the deals work. i have several properties that have sat on the market for months in my own neighborhood and would like to be able to offer a sandwich L/O but am not quite sure how to approach it. of course, i have to be extra careful since i'm a realtor too. thanks!

I am not a Realtor, Which as you know in some cases help. I am working on a package deal right now that is listed. I have got it work out if it goes threw that I am going to pay my realtor as I receive my down payments, She knows that I do a lease to own so she is willing to Wait, She even said we could do a payment plan if i wanted to.

Randy

that sounds awesome! may i ask what percentage of your down payments you are giving her? thanks again.

I don't actually give her a percentage, Its just what ever price we work out. But that's a good idea. I think I will try a percentage now.

Randy

Some days being successful is a full Plate. Here it is the first of the month, PAYDAY, I had two watch my 8 month old grandson and 10 year old granddaughter. To start the day of I have been P---- on and s--- on. Got them fed and loaded up and went to work. I actually got cussed out by a woman when I said pay up or get out. She told me I couldn't kick her out. WRONG. I let her know real quick that the MP'S and her Husband CO would be here tomorrow. I did keep my cool, Think God she was a woman. Wouldn't no man talk to me that way. When I got back in the truck my Grand daughter said PA PA your mean you are kicking them out of their house. Well that one took a couple of hours to explain. Well Yesterday my Father had a heart attack, But all is well. Today Julie's Mom was put in the hospital, 2 hours ago her brother was put in the hospital. Tonight a lady called and wanted out of her contract that I got sign Saturday. I guess I will give her money back. Another Lady called and cancel tonight. O well this all part of being successful. You see in this business some-days It takes a lot to keep my glass half full. But if I didn't were would I be right now. Well I guess I had better go, Got to get some of this Baby smell off of me that don't belong.

Randy

Well its a new day. Am just curious to what today is going to Intel. You know the funny thing about REI you never know what is going to-pop up. But I will make sure I keep my glass Half full and not Half empty.

Randy

Keep it going Randy, must always look at the positive even when it gets dark. I have noticed in my life thus far, I seem to have cycles of positive times, then negative. All I have to do is get past the negative cycle and I know good thinks are around the corner. My latest down cycle was two years ago when I started to have heart issues (atrial fibulation), got so bad I decided to get heart surgery. Took me awhile but now I'm back to running road races (last week ran 5 mile race). That period delayed my RE investing but I knew there was a positive cycle coming, and it's beginning right now. My mentor visit is this thurs, fri, sat. Went to look at a property I had my eye on for 6 months, asking price started at 130K and last week is now 79K, do you think the seller is motivated? I was straight up with the agent and said I was a newbie investor to see her expression... nothing negative, asked my how long I was looking, and wanted my e:mail address and property spec's so she will send the prospects directly to my e:mail. you never know what's around the corner is right.

Joe

I wish you the best of luck with your on site mentor. I know it really helped me when mine come out. Its like anything else. You get what you pay for .

Randy

You know its like Joe said. One of the big keys is staying positive. And the one thing I have learned is that some weeks everything is going to fall right in place. And then you have weeks like mine were they don't. And this is the time that fear can kick in. So when things go like this I have a choice. Let fear Win are keep tacking action. I sometimes wonder if fear will ever go completely away, I hope so. But if not I will keep taking my medicine. 1 TABELSPONE OF ACTION. This I do know works. Wish you all the best of luck.

Randy

Just do it

if you don't know, ask

too often people in this biz get all jazzed up, think they can be instant millionaires, get a deal, have a parade, and then get content or they don't get anything and then get frustrated and leave.

No amount of encouragement, words of wisdom, cheerleading, capital lettered statements to strengthen your point, etc is going to make anything better for you unless you want it. All that amounts to is pomp and show in the grand scheme of things.

Either you want it or you don't. Don't walk away with a 'what if' hanging over your heads.

I always enjoy hearing from you. I guess you are probably right. I sure everyone that does succeed has a few knocks along the way. And this is probably what separates the winners from the losers. I guess if all this was real easy this site wouldn,t be here to help encourage people that this is possible if you are willing to put in the hard work and enjoy the trials that go along with rei.

Rnady

I just love the picture in my head of you being Grandpa and changing diapers Been quite a week for you and your family...I hope that everyone is healing and will be all right. And that lady who cursed you out...wow does she have a set on her haha!! Things will all work out on both our ends, and then on to the conquest of our new territory! Hope the rest of your week is all positive

We're all adults here and the truth, be it painful or happy, is the truth.

Like LJ said, the thought of some woman cursing you out had me laughing. I could only imagine the steam coming out of your ears

I am just grateful today that no matter what the world throws at me i can keep a positive attitude. I do know that this is a big part of succeeding in REI. I have learned that sometimes it seems like it takes forever to get started when you try something new. But then again that probably the reason for success, Is doing all the groundwork to get started. As you well know each day does get easy but we all do have obstacles. I am so glad to see you back on here. Well no DIAPERS today but 115 degrees today. I guess I will see what the world has to offer today, Have a great one.

Randy

Believe me, It didn't have me laughing and yes their was steam coming from everywhere. I think that is the reason i have such good luck with realtors and banks, No matter what I am doing I always tell the truth and i don't sugar coat anything. Sometimes i am almost to truthful, If that is possible. But at least I know i cam lay my head down at night and know that I have not miss lead anyone. I do have my word and that is something no one can take away, Hope all is going well for you.

Randy

OK I guess it is time to move on and get back to my journal. Hope this topic has helped a few of you. If you not getting it by now, Take a good look and SEE IF YOU NEED TO START TAKING MORE ACTION.

Randy

Hey my friend - if your trying to close this off - but a link in to your journal so people can still follow you! I actually dont know how to do that lol, but it can be done