30 Days Quick Cash Formula

I just wanted to stick my two cents in here and say Thank You as well for starting this thread. It has served me and I'm sure many other DGers well. Who knows if we all would have gotten this far without it.
I can commiserate with you about your business as well. I am the sole producer of everything within my biz as I can't find good help. Following my divorce, I had to choose between keeping my biz and living poorly but within my means or living a better lifestyle but needing someone else's job to make ends meet. I chose to keep the biz. It's been a struggle in this economy but the benefits out way the demands. That's also why I have chosen now to get into investing.
I offer you the following: Find a way to make it work but don't let it overwhelm you. Maybe you need to move or maybe you need to let people go if you can't get more kids to come. Be flexible to finding a way to keep the doors open. Once you've mastered that, RE starts to make more sense. It's all about figuring out a way to get the job done.

All the best,

Andy Sager
DG's AndyS

Hey, guys, I'm experiencing pretty much the same things, that most
of you do. Different obstacles started popping up on the road.

It was the right time for Dean to do the call.

It's like life is getting on your way and you thinking that's it,
can't do it anymore.

But all that are just steping stone to your future success!!
Those who stay the course will overcome any obstacles and succeed!

Do not give up no matter how sweet it seems.
Continue pushing forward.

Have a great weekend y'all

Dennis

Fantastic that you say this. Matt Larsen, a friend of mine, I have hear say that many people give up just as they near the peak of the mountain. The work is hard at the beginning. The work can be drudging and so much so that people give up just before the peak where on the other side is a downwards slope that takes little to no effort to coast through.

Don't give up. Keep pressing forwards and do not lose site of what is on the other side of the peak- a downward slope that take little effort to move forward.

Hey Michelle...
Don't know if it's legal or not... but have you considered putting up bandit signs for daycare by the schools? If they work for RE why not daycare?

Hope to see you back in full blown RE mode real soon!

Aniko

I'm going thru a learning curve with REA's at the moment. I called the listing agent on Wednesday to see a house, she said she'd have someone call and set up an appointment.
No call.
Thursday morning I called and the REA was in a meeting... the receptionist told me she would call a team member immediately and have him call me.
No call.
Friday morning I called and the REA was in a meeting. This time I told the receptionist I would like to speak directly with the REA and asked when she would be available... I was told about an hour. I called a little over an hour later and the REA was "in the field". I asked for an email address and hung up. Then I called right back and asked for a cell number (knowing full well the number I was dialing was a cell number). I was told all the numbers are forwarded to the receptionist.
So I'm thinking I'm getting blown off. Ten minutes later the phone rings and it's the REA. She didn't know it was me cuz I never left my name, and my caller ID has another name on it... (so maybe I WAS getting blown off?). When she realized it was me, she said "you are persistant.. I like that." Whether she really does or not, I can't say, but she scheduled a team member to show me the house on Saturday.

We'll see how it goes.

I have all sorts of negative feelings telling me to stop, but I gotta say, I'm gunna just push thru this...

Aniko

Check out get/connectedinvestors.com.

I haven't posted in a little while. Trying to regroup after my latest disappointment. I agree with an earlier post about SOME agents. At this time, I am going to market to and deal with sellers only. One of the deals I found would have worked without the added expense of agent commissions, etc. So it's back to the bandit signs startegy. I was having a good return of leads on that for a while. I learned something valuable about marketing, though. It has to be consistent! I was very haphazard with my signs so the leads fell off. I'm back and doing it the right way now! Good luck to all. Shoutout to CarlH who has given great advice recently!

Ogal Gaines
LAGO Acquisition, LLC

Hey everybody, I've been off for a while but I just found an agent and I'm putting in my first 25 offers this week and plan to put in another 25 with a different agent whose a little reluctant. We'll see how this goes. Anyway I'd like to ask does anyone know where the agent script is? I recall seeing a post that mentioned there is a script for the agent to use when presenting low ball offers. Does anyone know where I can find it.

I'm going only for traditional sales at this time, so if some accepts an offer the next step is to put contingencies on the property and get it inspected, correct?

Thanks for all help,
Karemah

Hey Everyone in Diego!

I'm still interesting in getting a once a week meet up going. Even if it's only a couple of us, I think that it could work to our benefit to brainstorm and strategize since this is such a tough market that we're working in. I'm in East County. What do you all think. We could even do a weekly phone meeting if getting together is too hard. I have an account with one of the free teleconferencing services.

Let Me Know,
Karemah

Another Question.

Is anyone here doing business in Buffalo New York?

If so, What is the market like out there.

Karemah

Hey Tony!

I meant a once a month meet-up. I know folks are way too busy for a once a week Maybe once ore twice a month. Anyway, I'll inbox you and we can stay
connected and encourage one another. If anyone else wants to join up either in the physical or via a phone meeting, please inbox me with a suggestion of phone or in person meet-up. If you prefer an in person meet up let me know where you live so that we can possibly find a good central location to be in.

I personally would like to do one in person and another via phone so that we could meet twice a month.

God's Speed and Much Success,
Karemah

Hey Keremah:
You can find the agent script at www.deangraziosi.com/agentscript .
FYI: I gave this script to an agent I was planning on using but he shyed away from it. I then gave him the letter from Matt Larson's agent Star found in Profit From Real Estate Right Now Page 139 or at www.deangraziosi.com/agentletter which made him a little more willing to use it. You may want to do the opposite to reduce the potential stress for the agent. Give him/her the letter then the script.

I can't tell you how well it worked because I had to fire the agent for other reasons so we never really got off the ground.

Hope this helps...
Andy Sager
DG's AndyS

Thanks so much! I'm praying all goes well this week.

I'll keep you all posted.

Karemah

I finally posted some ghost ads to attract buyers and tweaked and resent my Bandit Signs out.

I added an ! to WE BUY HOUSES and I added my website at bottom of signs. I put them up in a more concentrated area so it would take less time, it still took me just under 2 hours. So far I've received no phone calls. But I'm going to leave the signs where they are as per Jen's recommendation: http://www.deangraziosi.com/real-estate-forums/marketing-buyers-and-sell...

At least now I won't spend an hour grabbing them back.

I've also decided to buy a service recommended by my local REIClub. I'll post on how it ends up working for me but for now I'll just say it'll give me many leads of people that are 30, 60, 90 or 120 days behind on their mortgage payments in the zip codes of my choice. Then handwritten letters are sent to those leads by the service. I'm hoping and excited to start getting calls when the first letters go out later this week (they'll send 30 letters a day for me).

Plugging away with the Dean's Success Academy Lessons and Action Items as well while also trying to take action on what I've learned via RBBP and 30DQCF.

I goth through the first 2 discs of EDGE 2011 and they've been great. I can't wait to see the rest and then check the EDGE 2010 online since it is now a RBBP Bonus.

It was so many pointers on how to get
the agent work with you!

So to sum up, what you have to do is show
him your action plan, break it down how many properties
you are going to buy, how often... Then you have him agreed
to all your conditions, like his availability, williness to
make low multiple offers in exchange you gonna use him on all
of you deals and he is gonna make boatload of money if he sticks
with you.

Get him interested!!

Hope it helps!

Dennis

Let us know the ratio of properties put under contract to letters sent out. Most mailers have about a 2% return call rate. What does this service cost?

Dennis, what motivates an agent is you closing deals and he/she making their commission. Not a bunch of I am going to make you millions talk. Most good agents have heard that from an bunch of newbees a few hundred times.
Now, after you actually close a few, then they will chase YOU. Talk is cheap and producing gets the job done! Hey, business is business

This agent thing has been proven time and time again on this very post. How many of you guys have agents bending over backwards to do 25 to 1 at 50% off list?

Michael Mangham
MD Home Acquisitions LLC

I tried the double closure title company idea. They told me that you have to live in the house for 90 days and that there's alot of criterias that must be met. The title company told me that they are making it harder to flip a house, even with short cash sales. This is Arizona, is it just this state or the title company? I have real estate agents in Arizona and California and am ready to move.

One definitely may do a double close in AZ. Perhaps, there was a breakdown in the communication, or perhaps you might have been dealing with some deed restrictions for that particular property.

Was this a Fannie Mae property? I believe they have a 90 day restriction, tho I have heard that there is a possibility of negotiating that down.

Aniko

There may have been a restriction on that certain property. On to the next if your only strategy is to double close. Some title companies will not do a double close. Usually you need a different title company to do the b to c. Few title companies do the a to b and the b to c anymore. I am sure they are still out there. I find it easier to us a different title company for each closing.
Find out specifically why the title company would not double close and have them explain why not? Fannie mae seasoning? Let us know what they say.

Double closing works with the right property and lender.

Michael Mangham
MD Home Acquisitions LLC

One other thing.

THIS appears to be turning into the 60 or 90 days to quick cash formula!!
Anybody actually close on a property yet? Come on!! What Dean teaches works. Find out what part of his strategies work in your market and get it done!!
Don't give up or slow down!!

Michael Mangham
MD Home Acquisitions LLC

I think in theory it could be done in 30 days. Realistically, I think it's a bit tough. I've been trying really hard not to get down on myself for not having completed a deal within that time frame. I think as long as we're at least trying and doing something everyday and progressing, well, I have enough stress in my life already. Granted, it's mostly financial lol. Which makes it a catch 22, but onward and upward even at a turtle's pace. I say turtle because they go faster than snails This is not to say that it's ok to slack off, just sayin'...

I came back to edit this to say, please don't take what I said the wrong way. I'm sure there are many that can do this in 30 days, and may even have already done it. I just have some health issues that hold me back amongst other things that preclude me from getting out (no realiable transportation) and I know someone will say you don't need a car to do this. But I am working on figuring out my best strategy for my circumstances and I know that's going to change soon. I wish everyone the very best with this and really look forward to what you guys will accomplish. <3

Michael, it's passed 60 days for me, but I'm gonna double close on a short sale prop within 2 weeks! The bank approved the offer, and I had a buyer lined up ready to gobble it up. Gross profit is about $11k, but after deducting the closing costs, money costs, and commission (the buyer has an agent), the net profit will probably be half of it ($5-6k).

Lots of things can happen between now and the closing, so I'm trying to keep things in check and learning all the nuances at the same time. This is as close to the first deal I've ever been, when it closes I'll be sure to give a full update!!

Good job! Even if it does not close, think of the real world education you have received! Getting out thee and taking action, overcoming the fear and trying to to a deal is how you will actually make it!!
How are you doing this deal? Double close using TF?
Next time, make sure your buyer understands he will pay his agents commission.
What are the numbers? Is your buyer an investor or owner/occupant?

Congratulations, You are on your way!!

Michael Mangham
MD Home Acquisitions LLC

Thanks! I made several mistakes even though I KNEW ahead what should be done. It's pretty tough when you're in the thick of the negotiation on your first deal (you just wanna get it done so you can move on to the next!).

Yeah I totally neglected the buyer's agent commission part when I agreed to the price, it just didn't come across my mind. But I won't repeat the same mistake going forward.

I'm double closing using private money, which I'm getting through a friend of mine. I'll be putting up some money of my own so that my friend feels more comfortable (I have some skin in the game) and I also save a few hundred bucks on the money costs. And the awesome thing is, I sent him a message on Facebook one night, and we agreed to the deal the next morning! Plus we're doing this based on honor system, and that's what I'd like to do anyway - no paperwork to worry about.

The buyer is a local contractor/investor. I'll share more details later -- now I'm just trying to replicate the success by figuring out what I did right and wrong. I got a lot of help from my agent on this deal, and I've also been really lucky in many cases

I don't want to recommend it out to anyone until I see how it works for me but they do report an amazing 30% response rate. Total cost per lead/mailing is between $1.93-$2.27 based upon type of leads you request. I requested the 30,60,90,120 days unpaid mortgage list (updated monthly) which is the $2.27/letter option. They only assign one zip code per client as well, so my letters from them won't be competing with other of their type of special letters.

And from the 30% call rate, they then say 1/20 usually end up in deals, but with my DG training i think I can beat that 5% success rate but even at 5% that would mean 1.5 deals per 100 letters. So we shall see. You have to do a minimum of 1000 letters and/or leads (can get letters done with your own lead list or lead list and do your own letters using their system to save money but not time). So there is a sizable up front cost but with those cost per lead numbers it should be well worth it.

I am taking a little leap of faith on this one and using some $ I got from a generous birthday present but sometimes you have to take risks for big returns and I want to jumpstart my REI career into high gear and this looked like one way to do it!

Feel free to PM me and I can let anyone know the people I'm using but know that I haven't proven it for myself yet, but I'm willing to be the guinea pig and hope to report great results to the rest of my DG family.

It is great to hear about successes from others on this Forum thread. It once again makes the rest of us feel like it can happen for us. Just getting to the point you are at now is awesome. Best of wishes on closing this out.

You could wire the funds to open escrow with an escrow/title company (or closing attorney [in attorney closing states--like NY]). Also, keep in mind that the consideration doesn't necessarily have to be money. I've done some deals before where my consideration was a promissory note. One of my mentors did a deal where he used a pickup truck for his consideration. Greg Murphy mentioned that one of his buyers used a lawnmower and the ability to paint for a down-payment. Although a down-payment technically differs from consideration, one could do something similar for consideration too.

Hey Everybody!

For those of you who are doing the 25:1 rule, I've got a question. When you finally find an agent who is willing to impliment this strategy, how often are you all sending offers to your agent/agents. On average is it 25 a week? or maybe every other week? Are you waiting until something gets accepted from the first 25 and then sending more?

Thanks in advance for the insight,

Karemah

when putting subject to in the addendum to find a buyer after getting a property under contract, how would someone word it. Most people want 30 days to find a buyer after getting a property under contract, so how would I word it in the addendum?