OfflineOnce again..... www.craigslist.org ... has come through.
In this business we are Mining for basically 2 things.....Great Deals....and OPM (other peoples money). I think I struck GOLD.
I was just looking for a multi-plex apt and decided to call this guy. I noticed that he had a Huge MEGA unit complex and a small multi plex for sale.
I was just calling on the smaller multi plex and this young sounding guy picked up the phone.
I asked him about the property and he told me about it.
I asked him if the Larger property was his also, and he said Yes....
At this point I was wondering...."this guy sounds young".....I asked him if he was a Broker for the owner and he said NO. HE WAS THE OWNER....I told him....wow...you sound young. He said he was 34.
He was totally open and took the time to speak to me about the property and was only selling them because he didn't like the drive.
Then he said the magic words........"I JUST WANT TO BE THE BANK"
Most of his properties are in the Portland area. This guy owns this Mega unit complex that he bought for 3.5 million and is selling it for over 5 million.
At this point......I started thinking about the possibilities here......and I asked him FLAT OUT...."you say that you prefer to be the bank?"...."would you consider being a HML for me?" He said "sure if the deal is right"....OMG....I just found a REAL MULTI-MILLIONAIRE ..HML...he even turned ME onto a DEAL. He had a house that was partially constructed and needs another 10k or so in work to be finished.....I didn't want it, but after hanging up with him....I thought.....I know construction.......I will oversee and finish the project myself and Partner with him.
HIS MONEY ....MY EXPERIENCE....I thought to do this not only for the Cash at the end, but to BUILD our working relationship. I called him back and he said "sure.....but let's meet on Monday."
This guy seems to REALLY have it going on as a Developer and Investor, and he is willing to work with me????? WOW. WHAT A BREAK, and truly a blessing I am not worthy of.
Thanks to GOD, and Craigslist ......I really don't know what to say.
....once again OMG
SAM
BUILD your knowledge base....it is your ARSENAL to wage war against disbelief and the negativity of the status quo. You need your weapons......It's your choice whether you carry them or not.
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Build Relationships and open the door to opportunities that could once only be dreamed of......never take those relationships for granted.
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Don't let EXCUSES be the nails that keep you INSIDE the box.
HIS MONEY ....MY EXPERIENCE....I thought to do this not only for the Cash at the end, but to BUILD our working relationship. I called him back and he said "sure.....but let's meet on Monday."
This guy seems to REALLY have it going on as a Developer and Investor, and he is willing to work with me????? WOW. WHAT A BREAK, and truly a blessing I am not worthy of.
Thanks to GOD, and Craigslist ......I really don't know what to say.
SAM
"MY EXPERIENCE" you wrote, seems like only last week you were still referring to yourself as a newbie! (Oh, that's right it was only last week!
)
"a blessing I am not worthy of" you wrote, you have worked like a dog since you joined the site and have diligently posted and taught us all every step of the way, it's a stretch for me to even think of anyone more deserving of this break, I truly hope it pans out for you!
"Thanks to GOD, and Craigslist ......I really don't know what to say." you wrote, I am thinking "Amen" will cover it!
Good Luck man!
Angela
The harder you work the luckier you get. If the deal makes sense do it. Well done.
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
Let's go everybody!!!!! Mass invasion of Craigs list!!!!!!!!!
What I was talking about is that I am a Veteran Electrician and Tradesman....the little project that this guy was gonna pass up is something I thought I could do to kinda endear myself to him, and solidify our new partnership. He told me that he almost bought the place, but it was too far for HIM.....so I thought what the heck....I need some Cash....lets partner up and sell this place....I use MY skills and Knowledge and some labor....and make a percentage of the deal. I need some cash now anyway, but this is a way to SOLIDIFY our working relationship, and build TRUST which is KEY in any relationship of course. While HE is divesting himself in MY local area I am thinking perhaps he CAN still have a presence here....through ME. Perhaps he will be Daddy Warbucks, and I will be the grunt....but a rich one....LOL.
Sam
BUILD your knowledge base....it is your ARSENAL to wage war against disbelief and the negativity of the status quo. You need your weapons......It's your choice whether you carry them or not.
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Build Relationships and open the door to opportunities that could once only be dreamed of......never take those relationships for granted.
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Don't let EXCUSES be the nails that keep you INSIDE the box.
I forgot to thank you all for your input...CBR , Angela, onthelynx....I really appreciate having a forum to VENT my head....whether good or bad.....I don't want to get too excited yet, but it sure is looking good at this time of the game.
Sam
Build Relationships and open the door to opportunities that could once only be dreamed of......never take those relationships for granted.
BUILD your knowledge base....it is your ARSENAL to wage war against disbelief and the negativity of the status quo. You need your weapons......It's your choice whether you carry them or not.
------------------------------------------------------------------------------
Build Relationships and open the door to opportunities that could once only be dreamed of......never take those relationships for granted.
--------------------------------------------------------------
Don't let EXCUSES be the nails that keep you INSIDE the box.
All the best on that deal. Keep us posted.
VV.
I'm still having a hard time figuring out how these type's of deals are done.From paying back the HML to refi with a bank ect.
What happens when you can't keep a renter in place?
I really want to go the route your taken.
Jason S.
San Diego, CA.
**All CASH House Buyer!**
Refer Us To Neighbors, Friends & Family, Earn $1,000
LIKE my FB page http://www.facebook.com/JandBHouseSolutions
Nice job on the find. Work with this guys and see what comes of it. If he is willing to back you financially a little labor or sweat equity is the easy part. I am inspired by all that post here and have learned a lot and gained a lot of confidence in just reading for you all.
Thanks again.
nsherrick
Hey that's grest man I'm happy for you
You are something else right now. You are my new found inspiration. I look for tid bits of knowledge and positive experiences from people on this site.You are definitely a motivational figure right now for me. So thank you for all your post. Keep them coming and the deals coming. I have not landed a deal yet but soon to come trust me. Great work.
Kingjuss,
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)
IT'S THE EFFORT.....IT'S ALL ABOUT ......DOING SOMETHING.....I am motivated to do SOMETHING....whatever that may be in order to accomplish my first goal....10 homes this year. Now I have a new one......Multi plex apt. bldg. or something. In other words.....CASHFLOW.....I need some.....how about YOU?
I have just decided that I will have some....it's a decision that I will follow with ACTION. That is the ONLY reason it WILL occur.
The DREAM becomes reality when ACTION is stirred into the mix. Don't forget the salt.
Sam
BUILD your knowledge base....it is your ARSENAL to wage war against disbelief and the negativity of the status quo. You need your weapons......It's your choice whether you carry them or not.
------------------------------------------------------------------------------
Build Relationships and open the door to opportunities that could once only be dreamed of......never take those relationships for granted.
--------------------------------------------------------------
Don't let EXCUSES be the nails that keep you INSIDE the box.
I am browsing craigslist now hoping that my blessing is waiting for me to find it!
Set a goal to achieve something that is so big, so exhilarating that it excites you and scares you at the same time. It must be a goal that is so appealing, so much in line with your spiritual core that you can't get it out of your mind. If you do not get chills when you set a goal, you're not setting big enough goals." (BO Sundberg)
Vicky Diaz
I have just decided that I will have some....it's a decision that I will follow with ACTION. That is the ONLY reason it WILL occur.
The DREAM becomes reality when ACTION is stirred into the mix. Don't forget the salt.
Sam
Hey Sam, great work and effort on your part.... This is Wealth2009.... As u know we spoke the other day and I found your info. to be a learning experience once again... I made the phone call to Chris Gilmore, but I will discuss the details with u when we speak one-on-one...
Since I am just 10 minutes away from Portland, would u mind if I made contact with this potential cash buyer? After you've had a chance to sit down and discuss your plans, would u pass his name on to me? U can email me: jenkinsmhg@**** or call: (360) 210-7250 ... Thanks Sam!!!
First you find a great deal.......HML loans you the money to pay for it "temporarily" Once you refi it the HML is paid off, and you have a normal conventional loan. Renters? that's another issue.....it's your house....if you can't keep renters in it....that's your problem.
You are investing in something that actually carries risks. You are gambling in REI just like any other investment. You should figure 5% vacancy on average ...at least in my area....Your goal is to rent it until you can SELL it at a huge profit.
SAm
BUILD your knowledge base....it is your ARSENAL to wage war against disbelief and the negativity of the status quo. You need your weapons......It's your choice whether you carry them or not.
------------------------------------------------------------------------------
Build Relationships and open the door to opportunities that could once only be dreamed of......never take those relationships for granted.
--------------------------------------------------------------
Don't let EXCUSES be the nails that keep you INSIDE the box.
Hi Sam, I had to smile broadly when I saw your post. I found a similar situation for my first two invetsment properties that I now have in escrow. The owner is a millionare REI and she was willing to be the HML on these two deals 0% down plus turned me onto a bank that is refinancing the deals at 75% ARV which leaves me a good bit of equity in both and they will both rent for over $225 in positive cash flow. Moving forward she is mentoring me and providing a wealth of information and resources. The many many many phone calls are starting to pay off.
Tony
Tony
crb said the harder you work the more luck you get truth be told my billonare friend says the same thing to me all the time and yes folks hes a billonare so keep up the good work everyone and cbr you keep that same frame of mind and you will be living very hi on the hog so to speak
Listen to the results ...not my words.......these things are happening not only because I have studied. It's because of ACTION being applied to the rules and principles that we are learning coupled with implementing tools that are available like Craigslist, this forum, the newspaper, My Broker...etc....Only by shaking the gold pan does the GOLD collect at the bottom.
Sam
BUILD your knowledge base....it is your ARSENAL to wage war against disbelief and the negativity of the status quo. You need your weapons......It's your choice whether you carry them or not.
------------------------------------------------------------------------------
Build Relationships and open the door to opportunities that could once only be dreamed of......never take those relationships for granted.
--------------------------------------------------------------
Don't let EXCUSES be the nails that keep you INSIDE the box.
You seem to be doing great Sam! I know I'll make it too. Please keep us posted on this, let us know what happens when you meet with the owner on Monday. Good luck.
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
It is great to see that there are other people out there willing to help people learn. Knowledge pays divendends.
nsherrick
Sam, you are really doing a great job acquiring and closing on properties. Continue to keep us informed as you proceed. Thanks for sharing the info.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
Great job man !! and what you said is what Dean is always saying,MAKE A DECISION and TAKE ACTION !! Even if you know nothing, make a decision.Besides reading Dean new book, I`m also reading Nepolean Hill book Think and Grow Rich, and they both say make decisions and take action,and this book was published in 1937,commissioned by Andrew Carnegie.So just keep posting and inspiring us.
Great deal northwest keep us informed on this and other deals you find.
Keep up the effort Northwest. I may have great deal in the making. I am in discussions with an investor out state that may allow me to owner finance 20 of his properties without any money down.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
Go for it.....owner finance is a good thing....
BUILD your knowledge base....it is your ARSENAL to wage war against disbelief and the negativity of the status quo. You need your weapons......It's your choice whether you carry them or not.
------------------------------------------------------------------------------
Build Relationships and open the door to opportunities that could once only be dreamed of......never take those relationships for granted.
--------------------------------------------------------------
Don't let EXCUSES be the nails that keep you INSIDE the box.
Hey Sam, did u have the meeting with this new found investor??? Just wanted to know how your first meeting might have gone??? Keep us posted on your progress... Your fellow investor (Camas, WA).... Shalom!!!
Stories like this are great to read about and I have to admit, this last year I've let too many other things divide my time up when I should be focused more no doubt.
I just received Deans new book in the mail (I remember the contest on here to title it) and what a great read it is so far. Thank God for someone like Dean compared to the countless "salesmen" out there just looking o sell you some outdated mess with a coaching program that hardly does any good either.
I hope your partnership goes well and you continue to find more deals. I hope everone on here find more deals and uses their sucesses for good and to help others, you'll get it in return even from unexpected sources.
John 14:6