30 Days Quick Cash Formula

Hey everyone I seen the thread the last couple of days and seen alot of post of people thats having trouble with a couple of things. I even seen someone post that they believe the RBBP does not work. Well since some are having better results than others, I was thinking on starting a brain storm session at least once a week about 1-2 hours long with about 10 DG members. This session would help the ones thats having trouble with the program, and others that are successful could share whats working for them and whats not. I would really think this would work and keep us motivated!!!! You can say it would be like our own Real Estate Investment meetings!!

I was thinking about having these sessions on the new social network called Google+. The network haves cool features like Video chating up to 11 poeple in the same room. So I was guessing we can use that for the meeting!!!

If anyone thinks this is a good Idea PM me your info and we can set this up and get it started!!! Infact let me know what you guys think about this Idea!!!

Damion, I have not posted very often with advice, since I have just begun as a Real Estate Investor. Let me just say that I purchased the RBBP on credit against my wife's wishes Aug 7th, 2011. I have had no support with friends or family at all. In fact, they think I'm crazy!
I had no intentions of doing a deal in 30 days. Why? Because I knew that I needed a buyers list first and foremost and a great power team. I now have all those except a real estate attorney. I also knew that until I heard all of the training calls of Dean's mentors, I would not make any offers. Well, everything is up to me now and I am in the position that Matt Larson, Carol Stinson, and Greg Murphy was at when they made their first offer. I have done my due diligence.
I will tell you that if it were not for Michelle starting this forum, I would not be in the great position that I am in at this moment. Michelle and Alex Waterloo have been a grat inspiration to me personally. I look forward to meeting and working with them one day.
Although, I thought they were moving too fast, I truly admired them for their courage and efforts. Not making it happen in 30 days is not the issue. The issue is staying the course, learning the little things, and persevering to success, no matter how long it takes. It took Carol Stinson 60 days to close her first deal. Greg Murphy even longer. I'm not sure about Matt, but we are all at that stage right now and any one of us could be the next Carol, Greg, or Matt! Don't let your fear and unbelief influence those of us trying to learn and succeed. Please don't invitr us to you pity party. Everyone on this forum will make it and we will be Dean's next generation Edge speakers! keep following and you will see that I'm right and you just might regret your decision to return the RBBP course. May God be with you and may He give you Grace and Peace!

Les Long
I am a successful Real Estate Investor!!!!!!!!!!!!!

I have to say I'm disappointed in your attitude towards your quest as a real estate investor. Here I am, one who wasn't able to purchase the RBBP, and you sent yours back? All because you wanted to preserve your $2,000?? Wow. I wish I had $7,000! I'd buy the RBBP AND! I'd re-enroll in the PMI training! I don't have any of that to help me but that won't stop me. What I do have is BARM and PFREN that I constantly read, plus I have this site and a couple TONS! of "DESIRE!" and "DETERMINATION!" to change my life and I WILL! You have to have the "DESIRE" to do what we do. Sounds like you don't have it. I hope no one else does what you did. That reminds me of an old saying I've heard many times over: "Scared Money Don't Make No Money." I also hope you change your mind and motivate yourself to get back on it. I read your profile and you were so positive. Get back to that so you can change your life! You can do it bro!

"Al"

Al-- you're awesome.
Hey Guys,
I've been off for awhile. And yes, I missed my August deadline, but I have been head down getting things in order to step away from my workload enough to follow through with DG Action. I checked in real quick the other day and saw Jill Holden got her deal done--- yeah!!!

I'm going to scan through the forum and try to catch-up this weekend, but not until I check all my to-do items off my RE list!

Love you guys---
Thank you for all the support!

I guess I have a bad taste in my mouth from doing so many shortsales that fell through a year or two ago that I just do not see anything working at this point. You guys are right I did not go at it as hard as I should have and I apologize for trying to steal the dream you all have. You do not need anymore naysayers, especially from fellow DG investors. Sometimes life catches up and I felt that I don't want to fail again. Again, to all who were offended by my post I apologize. Go Get em guys!!

I wasn't offended by your post. I simply wanted (and still want) to let you know that I'm seeing the evidence that this stuff works. In fact, some of it works much better than what I was doing before.

We all get down in the dumps from time to time. I largely stopped doing short-sales and REOs a few years ago, because I was getting nowhere with many of them (mainly due to various power struggles with several agents/brokers). Yet, I still did close some deals with a few really great agents/brokers.

If kissing frogs were an Olympic sport, then I already would have won several gold medals, because I've gone through literally hundreds of agents before finding the ones I have now. I eventually learned from an investor/agent how to work with agents. I learned that what I said/wrote and what they heard/read were 2 completely different things. He taught me some things similar to what Dean taught in some of those videos on TotalView on how to repackage my message.

It's easy to close a deal--and that for me is what made it so hard to close my first one on my own (even though I'm a third-generation investor). It's one thing to master the mechanics of a deal, and another thing to master one's mind. I needed to do the latter.

If you truly don't want to fail again, then don't stop. You're going to make some mistakes; we all do. Thomas Edison had to fail 999 times before succeeding on the 1000th attempt to find the right material to use for the filament of a light bulb.

Well I finally posted all my Bandit Signs. I went with the Greg Murphy model of:
WE BUY HOUSES
ANY CONDITION
###-###-####

Took me from about 6am to 8:30am to put up 25 signs. I need to check this site and call my mentors to see if there is a way to get the time spent down to an hour that Matt Larson mentions it took him.

What an adventure, I was irrationally afraid some cop was going to see me and arrest me for putting the signs up. I haven't receive any calls yet but at least they are there and I've taken action! I chose busy and slow intersections and freeway on/off ramps. There are plenty of real slow ones to choose from in my area.

Perhaps someone has some pointers on how to speed things up? I figure I could concentrate on a smaller area and do multiple signs in an intersection to catch people coming in various directions. I started to do the latter to speed things along.

- Soccer Guy in LA

Yesterday looked at and made offers on 2 REOs. Put up 18 bandit signs
Today, heading out to door knock 12 pre foreclosure properties, Look at 1 REO, then meet a fellow wholesaler at his property to look at it and discuss a possible co-wholesaling deal. Come back and make 10 bandit signs to have in my truck.
Make an offer on the REO we looked at today and blast out the co-wholesale deal if we decide to do it.
Remove and repost my buyer and seller ads on craigs list. Check out DG website and call it a day.
Tomorrow, go to church then door knock 8 pre foreclosures. Come home check for REOs, request lockboxes and organize the start of the week.
Monday - GO FOR IT!

Michael Mangham
MD Home Acquisitions LLC

Well it only took me 80 minutes to grab back all my bandit signs. There was one part of town where they were all missing so perhaps that area has active bandit sign removers. One other bandit sign was missing but its tomato wire stand was left behind but only 2/3rds of it. Almost as if a car took it out.

So 7 missing signs and 18 reclaimed. So far they have only generated 2 phones calls, one from a wholesaler bird dog that I agreed to partner with and another who I got the # of but didn't leave a voicemail. When I called them, they weren't there and their voicemail wasn't setup yet. Oh well, back to the drawing board!

Great posts everyone! All of you are a great influence to help each other succeed.

"An idealist is a person who helps other people to be prosperous."
Henry Ford

"Be courageous. I have seen many depressions in business. Always America has emerged from these stronger and more prosperous. Be brave as your fathers before you. Have faith! Go forward!"
Thomas A. Edison

Hey everyone I submitted 25 offers 50% off asking price 2 weeks ago with my agent, like Matt Larson said to do. I had about 3 counter offers and I got one offer accepted today! I'm so excited and nervous at the same time. The reason I'm nervous is because the property that got accepted, is a bank own property. Which means I would have to do a double close which is more work than assigning the contract. Well the asking price for the property was $23,300. I offered $11,700 and it got accepted. The house is a single family house 3brs,1bath and 980sqf. I have not looked at the property yet, but I believe I will tomorrow. I dont know how much in rehab would the property need, but I will be finding that out in the next couple of days. The bank wants 1k for earnest money but I told my agent to ask for $500 and to tell the bank I would provide the earnest money in 5 business day. Which would give me enough time to find a buyer and have the buyer put the earnest money down. Well Here goes nothing!!!
Matts Larson's 25/1 formula works!!!!
Wish me luck DG members!!!!!

Just stay focused, do everything you were trained to do just like you're doing it, and you "will" get the desired results: a nice check from the closing! R.O., YOU GOT THIS!

"Al"

I have a couple of observations to make and questions to you RBBP guys.

When you get your 90 days of cash buyers list from your realtor do you know that a very large percentage of those buyers are actually homeowners that paid cash and not investors at all? It is amazing how many people pay cash for their primary residence.

You guys just contract the buyers that have a different address than the subject property right?

If the owner is listed as an LLC and has the same address do you guys just mail to the subject properties address or research the LLCs officers and mail to them?

Michael Mangham
MD Home Acquisitions LLC

Its been a few days since I have posted but I want to say that there have been days that I felt like Damion did. I imagine there have been others that feel the same way and want to quit for a while or permanently. I have been stludying RE off and on since the mid-80's and then a year and a half ago I was real excited to see DG site. The information I have gotten down thru the years from other RE guru's and this website has been very beneficial but there have been times when I either had to go on to something else like working or going to college in the hopes of making money to buy a first property.

Unfortunately, none of it worked out so I could have my own money for RE and then I found out about TF. You talk about a God send, the only thing a person needs to do is get everything set up for the deal to go thru. Sometimes it seems hard to do it, but a lot of times it can work.

The reason why I am saying all this is just because things don't work out now does not mean it won't at another time. I have gone thru many years of trying to work on this and trying to be successful but I don't give up because after all this time I am still excited about RE. Some may say if you are so excited about this why haven't you worked on it more to be successful. It is because they didn't have TF in earlier days and there was no internet to get in contact with other people interested in it or who is successful.

Try to remember that if someone has a dream of being successful at something it will happen eventually. I say my prayers hoping for divine intervention as far as being successful but I also know I was given the ability to work at this and succeed. Good luck everyone and hope things go better for you Damion.

Normally, what I've done (pre-/post-RBBP) is to search for buyers (not banks [REOs also show up in this list in certain areas]) who purchased at least 2/5/10 (depending upon the number of sales in an area) properties within the past 90 days. After having filtered out those addresses, then I check the remainder of the list to glean the seller contact info for the non-owner occupied properties.

I research the entities (LLCs or otherwise), any registered agents, and any officers/members. I cross reference that info (via various public records), skip-trace the results, e-mail/call the ones for which I obtained positive IDs, and send snail-mail to the rest.

I sometimes will also call the cash buyers who purchased their homes with cash to see if they'd like to become one of my private lenders. After all, I don't want to waste a lead.

REO are you useing assigments or double closing if assigments how.

Thanks Glenn

Does anybody know anything about the Grand Finale mentor call? Was it last week or tonight?

I was wondering about that too. The e-mail indicates that it should be today but I have heard anything else about it. If anyone has the call details would you please share?

If it is today, it should be at the same time as the others... 6 pm Pacific time. The call in phone numbers and access codes were all the same for all the mentors, so if I don't learn otherwise, I suppose I will call in at 6 pm and see what happens.

I am on the call right now but no one from DG is on. What happened?

Andy Sager
DG's AndyS

I did not know there was a last finnal call, no one informed me nor I didnt recieve any email. I went on the RBBP back office and I didnt see anywhere that stated a last finnal call. I thought Matt Larson's call on Sep 19 was the last call. If there was a last call, where did you get the number to log into?
Would appreaciate the info. Thank you

Hey Rey:
There's good news and bad news. The good news: There was an email sent out on the 19th telling us about the last Matt Larson mentor call and within that email was an announcement that there was going to be a final call tonight 9/27.
The bad news: I called into the same phone number that we used for the mentor calls but nobody from the DG company came on. There were about 8 of us from all over the country on the call so you did miss a very nice group discussion.

So at the moment, there is no info about this final call from DG.com as per when or if it is going to happen. You didn't miss the biggie

Keep watching your email because I'm sure there's going to be some explanation in the next day or so.

Hope this helps...

Andy Sager
DG's AndyS

I received an email from Dean who apologized that there was a glitch in the call and apparently he did it but nobody could hear it, or some such. He also said it will be tomorrow, Wednesday the 28th, and the same time same place be there or be square! lol

Hey guys, I have a potential deal getting approved (it's a short sale), and I already a buyer lined up. However I need to do a double close, and I'm concerned about the costs (closing and transactional funding). What ways have you used to minimize your costs?

smurfy wrote:

I received an email from Dean who apologized that there was a glitch in the call and apparently he did it but nobody could hear it, or some such. He also said it will be tomorrow, Wednesday the 28th, and the same time same place be there or be square! lol

Just a reminder -
If you don't use the online link in the email, please note that the phone number and access code are different for this call than they were for the mentor calls, so please be sure to dial in to the right line.

Although I'll negotiate for every discount that I can get, I don't obsess over the costs. Whatever they are, I'll factor them into my pricing. For example, the closing costs (if I have to pay all of them) and the transactional funding related expenses collectively shouldn't exceed 10%.

One could do this with the following relation: sp = 1.1 * pp + AF (where sp is my end buyer's purchase price, pp is my purchase price, and AF is assignment fee). I use the following relation: sp = (pp + AF) * 1.1 (which incorporates a pro-buyer hedge [+10% of AF]). (The entire formula that I use is more complex [and it's context sensitive], but I don't want to confuse anyone with too many details.) The point is that one has to back into these figures just as one would have to for commissions (and any other percentage based fees).

Hi, guys

Can anybody give me the phone number or link for this Final call, because it seems i didn't get that e-mail or it went to Junk.

Thank you so much,

You can even send me that by PM.

Dennis

I got off to a slow start due to some scheduling conflicts with my job. I've fixed that and now I am moving full steam ahead. I could use some advice on a realtor. I had found what I thought was a good fit but he flaked out.

Instead of calling more local offices and speaking to whoever was available at the time I found that you can conduct an advanced search for Realtors. I did so and read the bios of all of the Realtors that indicated that they work with investors.

I found what I thought was the best. She is an investor herself and also has a background in marketing and remodelling. I have not spoken to her verbally yet. I e-mailed her a letter that I found either on DG or RBBP that Matt Larson had devised. She responded by providing me with some info about several of her current listings including one of her own. I would need more info on these properties but I just kind of got a gut feeling that her focus is more on selling me her current listing as opposed to working for me in my investing style that I described in the letter. This could be a gold mine or a waste of my time. Her e-mail is below.

I have an investor selling out right now looking to rid 67 homes all but a few rented, some on notes but most section 8, he makes over 10% cap on them. Looking for 3 million for all or can break up package. I have three other investors wanting to rid duplexes in Owasso $125k-$165k. I have a house in Owasso I need to rid for $80k that needs remodeled and would sell in market about $115k when done 4/2/2 which is not an easy find so it's a great setup just don't have time to deal with it. Let me know if any of those strike your interest. Thank you for your time.

Hey, I'd like to say this: The more money your agent makes, the more you'll make.

It makes sense for her to prioritize her own listings, as she'll be making 6% instead of 3% commissions. At the same time, you'll also be sure that she's gonna look out for you when the time comes.

Just check out what she has and see if the numbers make sense -- some of them might be fantastic deals as the sellers seem motivated. Anyhow, whatever price she quotes you, it's not final. You can always negotiate and make it a deal.

Hope that she's your superstar agent!