WHO MADE THERE FIRST DEAL EVER IN 2010 PLESAE JOiN IN

Don't be discouraged

You could do everything line for line, move for move and nothing happens.

Every place and situation is different and the reactions from people are going to be different

Instead focus on the area you're working in and the dynamics of it. Also think about what you did and where you can improve and do something differently

We live in buffalo NY there are a ton of property's if you have cash to buy and hold.We live in buffalo NY and its hard to find the perfect deal for the assignment's and it take's so much time I'm getting very burnt out for the second time in 15 months

no body has so i guess I'm not the only one.Like i said if we had the money and the resources like the people that have made this happen in the past ,and with the help from those that did before them, we could all be a success story to.I would really like to see people come into my shoes at this day and time work my hours with no money and no credit,and not use the resources you have now and see how long it will take you before you give up,because it seems to be a lot harder today than it was 1-4 years ago,when you give every second you have for 4-5 months and still can't get a deal done and you do everything that all the successful people have done before you something has changed.We work 60 and 55 hrs each between us it's 110hrs and it starts to drive you crazy.I just want to hear from people that have made it work this year with no prior experience,no money and bad credit.If we had the funding we could make a killing.It would be nice if someone stepped up to partner with us like we hear of that supposedly,has happened in the past reading the forums and posts.I know it sounds like I'm winning and i probably am but we have over 25k in this and haven't made a dime.And with the hours we work and the time that's left we put into this it seems we are chasing a dream instead of living the life we have. So is it really worth it? So someone please come to this forum and start talking because i now we are not the only one's that feel this way!!!!!!!!!!!!!!!!!!
Bob & Sandy

lets hear from some one, nobody made there first deal ever in 2010im getting very depressed. please read the posts above and make this a great thread with your reply's.even if you didn't lets start talking and keep us newbies motivated on our own level!!!!
Bob & Sandy

Hello Robert I am a newbie I started about 3 months ago I have read one of deans books PFRERN I also have YTYREP but havent finished that one yet.
So far I have gotten an Attorney on my team called one agent and she wants to sit down and discuss some strategies to use and is intrested in working together.
I also have locked up 2 properties on contract and am now just in search of buyers, this seems to be the hard part at least in my town.
My town is very small in Northern California so I know that is going to be an obstacle, or maybe not.
anyway I was talking to my RE Attorney the other day and he said that assignments were nothing new and that he had 2 clients from my town who use assignments (no money down strategy) very successfully.

So this is being done all over.
Dont give up, even if I havent done my first deal a year from now I will still be at it everyday untill I do.
Dean has giving us the knowledge and the tool box all you have to do is make it happen.

YOU CAN ONLY GET TOO AS FAR AS YOUR WILLING TO GO.

I'm looking on the front page of DG right now (or right before I typed this) to the topic entitled: "I Did It! I Got My first Deal!" - have you read that thread yet?
Please don't take this wrong, but, just because people arent' responding to your thread doesn't mean it's not happening. Again, this one particular topic I'm talking about is just one example.
If you haven't read it - do so and ask questions of the one that posted that topic.
It's happening.

all for responding this is what us newbies need a post that we can communicate to with each other. I know there are some of us who have made it happen, there first deal this year, and i know in my heart i will to, I cant wait to meet dean and shake his hand, he is awesome and a great person ,With out A Doubt !!
But what I am saying is there is a ton of work to this. I love to hear from the people that did it in the past ,but we are the present and it is a little different and i believe harder right now,the way the banks are doing business, and so many people tying this, with no money and bad credit,there are signs and fliers every were.
So i think it is very important for us people that haven't made a deal yet and the ones who did there first deal this year, to really share with each other,on one forum so we stick together. And hopefully one day soon, meet at an edge11 or 12 event sharing our experiences and success.I hope this sounds good to all and i wish everybody the success they deserve that is proportional to your efforts.
Bob & Sandy

Heres the link to his post. check it out it might inspire you. don't give up everyone knows getting that first deal is the toughest obstacle. Im still trying to get mine, almost there.... http://www.deangraziosi.com/real-estate-forums/investing-journals/61006/...

I am on deal #3...more to follow

Last year I knew nothing about real estate, I have no money to invest and looking forward to many more deals!!!

Find someone who inspires you and follow in their footsteps!!!

i really like to read that kind of stuff.That's what i need and sure many others do to .That's way Im starting this thread.Lets keep it going and all of us beginners need to talk here,so we can share in one place what is happening now.
Bob & Sandy

This is for all the beginners so we can share in one spot I think it will be a hit and pay great dividends to all. So please join in and lets get ready to be SET FOR LIFE TOGETHER
Bob & Sandy

Lets keep this thread going...
Bob & Sandy

Bob and Sandy, I know exactly where you guys are coming from. I quit my job 2 months ago out of faith that this business would take care of me. It's not easy but things are happening very quickly. I started in June this year and have 4 rentals and expect one or two more before the years end and my banker is ready to set up a line of credit for rehabs.

This is what I did... I started out trying to do assignments through a realtor, within 3 weeks we put out over 100 offers at about 50-55% of value, out of all the offers 11 came back accepted. Most of them were in bad neighborhoods so no investors wanted them. I couldn't find and investors to assign to so I scrambled to find some hml's. I ended up buying 3 through the lenders, then went to a bank and got an early refi. on them so I could rehab ( since I didn't have any money to rehab with). Between the 3 properties I had over 100k in equity so my banker let me buy another one with collateral from the others... and now I'm off and running.

every great investor I know came from nothing and the more they learned and experienced the better they got. So, as frustrating as it may be, you are learning so much by putting yourselves out there. Just keep going, imagine what it'll feel like when you do your first deal, and second, and third and on and on.

Best of wishes to you guys! If you desire it enough it WILL happen!

but I won't qualify for any more loans and did my first ever no money out of pocket, no credit deal this month. (Took a property subject to an existing mortgage). I suggest you check out 'freeindeed' as when she started, she also had NO real estate experience at all!

Don't get discouraged. You will get your first Deal soon. I knew nothing about real estate last year. I have now done 3 deals this year all with no money down and I have bad credit. I bought 2 of deans books in January 2010. I started reading them and lost my job in February. I had a few thousand dollars saved up to get me by for a while. I finished the books in march and did my first deal in April. I did it by going to an investment club meeting in my area and meet a few investors. I kind of got lucky on this one. I meet a wholesaler there and got her business card. I went on her website and found a property I was interested in trying to buy to rehab myself. I know how to fix houses but I had no clue how I was going to get the money to buy it. I remembered in the book that people get private money and hard money lenders so that was my plan. I called up the investor and told her what my investing plans are, I tried to sound confident but I really didn't know what I was doing. I told her I wanted to see the house. She gave my the lock box combination. I went to look at it and when I was locking up a car pulled in the driveway. He said he was interested in seeing the house, he had been trying to find out who owns it for a while. He was a landlord and wanted to buy it, fix it up and rent it out. The house was about 3 houses down from the end of the street. He was passing by and noticed a car in the driveway with a magnetic sign on the side of it. He said that was the only reason he stopped. ( I bought magnetic signs to put on my car door that said "we buy houses" just like dean said to do in his book). It worked. So I showed him the house and when we were done all he said is how soon can we close. I called up the investor and I told her what happened and she came over with a contract and they signed it on the hood of his car. This guy was a cash buyer. They closed 5 days later and I received a check from the investor for $2000 just for finding her a buyer. I did about 30 minutes worth of work. Investors will pay big bucks if you find a buyer for their property. So that was my first deal. I will briefly tell you about my 2nd deal which I did on my own and made more money. I found a FSBO. It was for a 2/2 townhome. I called the owner up and asked how much they wanted for it. She said $42,000. Then she said she really wants to sell the whole building. Come to find out they owned the whole quadplex. All 4 townhomes each 2/2. They wanted $151,000. I got it under contract with a 15 day inspection period and made it assignable. I started marketing it. Almost 2 weeks later someone finds my ad on craigslist and wants to see the property. I showed it to them. They wanted to buy it. They were also cash buyers. I assigned the contract to them. They bought it for $159,000. I made $8000 the day of closing. That one was in July and I just closed on my 3rd deal last week. All I have to say is don't give up. It will happen. I do this about 50+ hours a week. I'm still struggling. I get frustrated too. The investor that I did my first deal with, she does about 2-4 a week. She has been doing this for 5 years now. I have learned a lot. I have a lot of good advice that may help you. If you have any questions for me. Feel free to message me. Good luck

To all,

My name is Jeff. Live in a small Kansas town. Very rural. Had no money of my own, hardly a part time job, a year prior to my first deal which was in June 2010 I had 36 cents in my account.

Landed a property management gig paid 65$/mo. In June bought #1 lease option, July #2 lease option. (both were multi units) In September bought an abandon, no money down, will finish rehab this month (already rented). October found a very cheap deal, paid cash for the house wich makes #4.

In all, 4 houses, 10 units, over $5,000/mo in income. Will quit job in 2011. credit is under 600 last time I checked - 2008 was a bad deal.

Used essentially none of my own money what so ever and have had good success, two things though. Number one: my only problem is not having enough property to rent out. Number two: is I am only achieving 80% of my goal at this point and need to move faster harder and smarter.

Move if you have to, get off the East and west coasts. Get to the center of the country or anywhere. Choose a place to invest - look for opportunity - anywhere!

It can be done! I am doing it right now! Was at prop #3 til 1 am last night, already have deposit money in hand - and place is not even livable yet. Phone is off the hook!

Get up and go get em!

FOMAC

***Chaos bring opportunity***

Approaching the 5 month mark in REI here.

Working REI full-time and have been "inches" away from 3 different deals (which ultimately did not happen) and currently have 2 others in-the-works (which I'm praying about) ...

I am somewhat frustrated too, from these *** close but no cigar *** events.

I need to keep reminding myself that "persistence" is the ticket.

From the time we take our first step as toddlers, everything that we learn is difficult before it is easy.

Hang in there. Keep working.

Keep venting, if that's what it takes to blow off some steam. It's okay not to fake a persona of happiness around others (just so you won't seem negative in their eyes) as you hit some roadblocks. These moments don't define you. You are allowed to be frustrated.

Rather than suppressing it or disguising it, find a way to use it as fuel.

Good luck (to us both) !!!

~ Sherri

We want to say thank you for the great responses we have received,This is what we need to hear and I'm sure others do to.So lets keep the great info going.You have my word WE ( me and sandy) will never stop as long as we , the beginners keep sharing are success and failures on this post.I really believe that this forum will help a lot of us learn and keep us all motivated so we can all achieve the life that we and are families deserve. Me and sandy are looking at 2 property's tomorrow that fit two of are buyers criteria,so we are keeping are fingers crossed.The last one didn't fan out after 3 weeks in the process and a lot of time spent, but we learned from that and i guess that's what its all about.
I just want to reiterate that we want this thread to be a perfect place for all of us new investors to share and learn together as we go on this great adventure together.. I just believe that we need are own post to stay together and keep focused as the freshmen in the real estate beginners stage, keep tabs on each other,lend each other that helping hand,the present time (2010) advice,failures and accomplishments,will benefit us all.
We would love to meet all of you some day,hopefully at an edge even as the next generation of success story's.
We truly believe that dean is an amassing mentor and teacher and we can not wait to meet him in person and shake his hand and and thank him personally,You are the real deal dean thank you. So lets keep it going!!
WE wish everybody the success proportionally to your efforts!
Have a great day!!
Bob & Sandy

I just wanted to say that we have been in the same situation. My husband and I have been trying to do this since Feb of 2008. We have done so many things and been so close so many times that we gave up twice for a while. Finally after talking with a friend of ours we decided to get back into it. I have to says that we decided only because there are so many people doing this successfully why not us.

My husband was unemployed for almost 2 years then finally took on a job for minimum wage just to have some kind of income coming in. We were on food stamps and insurance through the family services program. Also we live in the basement of his parents house due to our own home being foreclosed on. When have literally no money. We can barely afford to buy gas for our car.

What we do have is determination. The attitude to go out and take action and do what ever we need to to make this happen. We know there is a solution we just need to find it. After all this time we have finally partnered up with someone who has the same interest as us and is as determined to succeed in this as we are. Because of this we have been able to move even more forward.

With every success in life there was always failures that you learned from. You make mistakes and you grow and move forward from them.

Think what your doing. Consider how you can make it better. Bounce off ideas with your team, investors, rei club, and so forth. What ever you do just dont give up. Where there is action and determination there is a definite result.

To say that now after 2 years of this we have a property under contract right now. We close on the 22nd of this month. Our plan is to assign it over to another buyer soon. This will be our very first deal.

I have had to beg my mother to drive me, my sister to help me and I take my children with me everywhere I go. They are around when I am on the phone screaming in the background. I have them with me when I go to homes and view properties.

My husband and I work as a team. We also have an amazing partner that has helped us in more ways than I can count. If you want this and I know you do. Then you CAN DO THIS!!!!!

There is a way no matter where you are, what situation, there is a way.

Keep up the hope!

hi everyone I am a newbie and have been reading Deans books and have read and reread until Im getting more amd more confused with all the phrases and words that just arent sinking in.I want to do this so bad and want to be making alot of money instead of dreaming about it. I live in a small hick town in Washington state and nothing is moving very much and Im afraid I will get stuck with something I cant pay for. I have no money to invest and for sure no credit so I am really scared I want to make money to move out of this state and move to Nevada where my kids have moved to. Has anyone got words of encouragement and good ideas as to what to do. I have seen houses in Nevada that I would love to deal with.

We just closed on our first deal in September. We got Dean's books (Be a real estate millionaire and Profit from real estate now) in November of 2009. Didn't get a deal under contract until June 2010. It takes time but if you keep at it, it will happen. We wrote more about our journey in another blog (6 months of intense studying and action steps).

Good luck!

Jim and Nancy
Studio 4

"Your future contains far greater joy than all the sorrows of yesterday."

Hey Robert Sandy, I started real estate investing in April of 2010. I went to my first REI meeting and started networking and taking notes on how to become a successful investor. One of the first things I did was free advertising on craigslist, real estate papers and made some signs that cost me about $5.00 dollars and put them around my local Wal-mart. My first deal came from a lady who had some land and she was behind on taxes and the land was going into foreclosure. I quickly wrote down the address went and looked at it and noticed there was a building on this land as well. I called the tax office and found out that she owes $750.00 and went to her and put it under contract, I then called a few friends and asked them for $800.00 to purchase some land and I will give them $900.00 back in 7 days. One of them said that is great gave me the money cash and I went to purchase the land, after that I started advertising the land on craigslist and made signs and found a lady who purchased it from me for $4,000.00 dollars and that was my very first deal in real estate investing. One advice I can give you Robert Sandy is to find ways for people to contact you because they are more motivated when they reach out to you. My 2nd deal came from a military family that called one of my ads they could not sell there home and had to move in two weeks and could not afford to have two house payments. So I met with them and told them I can take over the payments and maintenance of the home until it was sold and they allowed me to purchase the home from them with no money down and I use this property as a rental giving me a couple hundred dollars cash flow a month. There are deals out there you just have to believe that you can do it and one thing I know is when your going against the grain of life the world will test you in ways you would not believe but you have to keep on pushing through to get where you want and because you feel resistance does not mean to stop pushing. I hope that my posting can encourage just one person and I will feel blessed that I was able to help them.

every body.We have some good stuff going on and i hope they come through,One of these times it will all come together.I do know it,but it sure helps to hear from people that are going though the same things that we are right now.Lets keep the info coming and ill post are progress in a few days!
Wish everyone the success we deserve
Bob & Sandy

Are you only trying to do assignment deals,or are you also looking into other strategies.I tried assignments for the first month and 1/2 before i started to really understand real estate and then realized that my market doesn't really allow assignments so i moved on.I can only imagine the opportunity for those people in market conditions who have alot of homes with equity around them.Just be creative and you can find a strategy that will work wonders for you whoever you are or where ever you are.

Hi Randy,

I'm a "newbie" in that I haven't done a deal yet. I have been flirting with the possibilities of REI and have been gearing up for the past couple years to take the first steps. I have two of Dean's books. I don't have the money to spend on the Academy guidance--that would be AWESOME!

And I am happy to say, that I have a potential "buyer"/"seller" coming to my local area who wants help with putting together a deal.

Everyone learns and progresses at different speeds. Don't get discouraged. It's all part of the game. Even if this deal doesn't pan out, IT'S OKAY! I am still looking for more deals as I put this one together. IT'S FUN! I hope to make a little $$ sooner than later, though.

Good luck to you and your endeavors in real estate investing. Even though you don't feel like you're getting anywhere or that you are not making any money yet, you're still moving forward toward your goal, aren't you? Just don't ever quit on your dreams!

I haven't done one yet but have bird dogged on a couple deals. Signed up on the Success Academy in Feb and have everything, just haven't done one.
It really is harder when you are totally alone and have no one to even discuss it with.
But several people have posted things and some never got answers. I was one of them not long ago. I even thought it was because no one knew me they wouldn't answer. But that isn't so. Your post keeps going down the line. And I see many people never get answers.
But I am not at all discouraged. Instead of looking for people, start getting ads put out. I just got an 800# and wrote up flyers. And bought bandit signs which only cost $1.24 at Wal Mart. Now I am going to give the neighbor girl and her friend a few bucks to put out the flyers for me. I noticed tonight at the grocery store on the bulletin board, a big sign saying "We buy houses, and can help." I am sure they get calls. So I am putting mine up there too.
Have you gone to any REI clubs near you..I also went to 2 auctions now and talked to other investors, and got some cards and offers to help. I just came right out and asked, "would it be okay if I call you with questions or advice?" Each one said, that was fine. One man even took me around the house being auctioned and showed me what to look for.
Put up cards and flyers even at businesses. Maybe even offer a bird dog fee to the business owner, if he gets a customer for you. Tomorrow my ads will be out there, and I'm excited to see where it goes.
So think positive. But just get excited about it. And go out of your area too. My sisters live in Kansas and Oregon, both started finding FSBO for me, and they will check them out when I talk to the owners.
So....go outside the box...or state if you have to.
You'll make it!!
Sandi
Wis

Robert and Sandy I have been here for some time myself, no I have not done a deal yet but have came across several that were just not meant to be and fell through one way or another but this has not stopped me. Went to look at a fsbo today and the person did not show up but i will be calling them back tomorrow about this too. I have two agents i work with in the area as well here in ne texas that know what I do and gladly help me along the way as they both work with other investors. I have contacted several lawyers in the atlanta area about doing assignment deals over there and have two on my list that would gladly help in this too and one I have to call tomorrow about this. The good part just to ask the questions to find out about their services that they offer and get my questions answered have not cost me anything either. I had a place in mind over in that area that would of made a good rental but the numbers just did not figure right and then the profit margin on the seller side was around 11,000 and my profit if i could wholesale it to another investor would of been about 1000 or maybe 100 a month cash flow as rental with owner financing but long term the numbers just did not come out right. I have found out the best place to get business cards if needed is at vistaprint.com as they have a good selection on advertising things and such. I use cardboard boxes to make my bandit signs for the time being so if they get taken down or ruined from the rain no big loss either. Just hang in there the both of you our deals will come along sooner or later we just have to be patient.

ba

Bob & Sandy,

I started in REI back in Dec. of '09. I was unemployed, so could not get bank loans so had to do something else. The first thing I got into was bird dogging. Within the first few months of the year I did 3 bird dog deals. The key to bird dogging is building a good buyer's list and then finding properties that they want and handing them off for a finders fee. Pretty non-risky. Then I decided that I would start buying houses myself using hard money. I submitted a contract on a house, but did not get it. After that, I got a temporary job out of town and couldn't work the REI for about 4 months. Since I have been back, I have bought 3 houses. One is a short sale 2 family flat that I got for $5K. Been trying to find a buyer for that since August. The second house I am buying and rehabbing using my self directed IRA. Should finish the rehab in about 3 weeks and get it on the market. The third house I'm closing on this Friday. I'm using hard money for the purchase and funding the rehab out of my HELOC, although I could have funded the rehab with the hard money.

So, these are just a few more ideas of how you can do REI using OPM and not needing great credit.

Hope this helps.

Rick

I have seen this before, what is HELOC?
Sandi

I did my first Assignement deal in March 2010 after 11 months of frustrations. It did not close that month, I waited till May and the seller was really mad. The first Title Company that I used messed up everything and did not communicate with us since the clossing. The property was still under the seller's name for 5 months and the City is sending her the Tax Bills. I resolved everything just yesterday. You can do it. I know everybody keeps on saying you can do it, don't give up, etc etc etc. It's like music to your ears right? But if you dig deeper to the meaning of those words or phrases you keep on hearing, most of them who did there first deal have undergone such challenges and didn't gave up.

I did not do it all by myself. I got a mentor since I cannot afford the academy ( I partnered with one local wholesaler who does the same thing as in Dean's book). I need to find all means to do this or else I have another Failure to be added on my list. Do it everyday, and you'll get the rewards. Blessings to all. LA