Cocoon's Journal

Cocoon's Journal

Hello, my name is Cris. I bought Dean's book last year after hearing him speak on T.V.. He made a lot of good sense and I figured I might as well try and read what he writes about, since I have always been interested in Real Estate. I read it and joined this site and read and read some more, when schedule permitted. I actively read, but did not actively participate in the forums. I had a ton of questions to ask, but I just searched for the "keywords” on the "Search Box" on this site, so I got some of my questions about some techniques taught in the book answered (that way, I wouldn't be wasting website resources in kilobytes with redundancy and repetitive questions). So I have learned (and am still learning) a lot from this site, and from Dean's book. Thank you Dean, for being so gracious with your wisdom and for having this website set up for your customers/students. Your customers/students pay it forward because they have seen it in you; you are a good leader and a good exaple. The members of this site are awesome with the way they help each other out and share their knowledge. That's always a good thing. For the questions that I had that were left unanswered, I went on my journey to seek for the answers, while going on with daily tasks, life and routine.

And then tragedy struck! My home got water-damaged while my son and I were on an overseas trip. We were displaced from our home for almost 6 months. We just moved back to our home a couple of weeks ago. (I have learned a lot along the way, I want to write and share when schedule permits, when I am on the other side of it). Looking at the brighter side of things, that experience has taught me some more about real estate that I never read about anywhere, nor was I prepared for. I am grateful to have met some wonderful people and hardworking contractors and vendors, and so while I was going through it all and dealing with everyone, I was also building my future Power Team, I told them that I am going into real estate investing, and so I will be doing business with them again, as soon as my son and I can move back to our home and establish some normalcy back into our day-to-day. At least I have had a good sample of how they work and how professional they are in doing business.

So what brought me back to this site? While unpacking one of the boxes (that the packers packed during the time when my house was being demolished) in my garage-still-full-of boxes, I found Dean's book, the one I bought last year, drenched (well, it's dried out by now - like pages plastered together! It gives me new meaning to a Hard-Bound Book – it’s too hard bound, you cannot even open it!). It had all my marginal notes and lessons learned and RE related paperwork.

So, rather than get hardened by depression, I went back to this site and ordered the same book PFRERN, and ordered other books that I have not read yet. It is worth re-ordering because I remember back then, when I ordered it the first time, it gave me hope. And with these current troubling times, we all need to have a source of hope. And the wisdom to know what to do next. It's important to connect with like-minded individuals. We all have a need to improve our lives and to financially secure our future and the future of our loved ones. We also have to know our boundaries - what is legal, what might not be legal. We can discern a rip-off – when in doubt, ask, research, or best yet, stop. PRAY about it.

Money matters. We all go through the ups and downs of it. Money is a magnifier of who you are. It does not change you, it simply magnifies what is inside you. A pastor once lectured “the best thing we can all do for the poor is not be one of them”. I thought that was hysterical. But it's true, when you have more money, you are more giving and you are less stressed.

I believe in seeking wisdom, either through my own experiences or through learning from the wisdom of others who have gone before me.

I believe in the power of prayer, and that if we tell God about our problems, we receive the Holy Spirit and we receive and experience God's favor and countenance. You seem to see what others cannot see; sometimes you see the impossible happening as you take the step of faith, because you feel God is with you.

When I got divorced years and buckets of tears ago, I thought it was impossible to not live in fear while in a foreign country. I thought it was impossible to get out of debt. I thought it was impossible to raise my son singlehandedly, without any child support. I thought it was impossible to finish college. I thought it was impossible to get into a good graduate school. I thought it was impossible to finish graduate school without any school debt. (I had to work several jobs to put myself through school). I thought it was impossible to build my own credit. I thought it was impossible for me to buy my own car or my own house as a single person for me and my son. I thought it was impossible to survive surgery after surgery. The list goes on and on, and we all deal with the enemy within. Some seasons, on a daily basis. I dealt with it constantly and daily for the past 6 months.

"I can do anything through Christ who strengthens me." - I read that from the bible a long time ago; I don't remember the exact chapter or verse number, but I got the message. And that promise usually tides me over (after crying a bucket of tears). You need to know who your enemy is. Your enemy is someone who is grieved by your success. Your enemy is someone who hates that you are still trying to stay positive while you are in a very negative situation because they just expect you to crumble or fail or just stay down! The dream killers and time-wasters in your life. (It gives new meaning to, “if you can’t say anything nice, shut up”). And the best way to actually, in a round-about way, get back at your enemies is to make the best out of your own life, be the best person you can be. That speaks for the inner strength and character building that that process instills in you, that the wrong that they have done against you, didn’t really keep you down. Maybe for a while, but not for long, if we always do something to keep us going forward and moving upward, and then forgiving them from your heart in the process so we are not carrying the heavy burden of un-forgiveness and bitterness. Bitterness, which is just plain and simple “anger that is stretched towards time”, is the heaviest and most unproductive thing to be carrying around in life. (It’s heavier than a dozen of my water damaged hardened Hard Bound books!). Set boundaries – forgive them from your heart and at the same time do not give them permission or any opportunity to knock you down again or anymore. (If they still manage to knock you down, let me know, I’ll send you my water damaged hardened Hard Bound books, you can seriously use them as a weapon to protect yourself!)

Choose the people who have access to you and your time. We are all just given the same 24 hours per day. If we cannot manage our one 24-hour day, how can we manage our one life?

A wise man once said that it is our sole responsibility to keep ourselves inspired. Nobody thinks about us and our future as much as we do. And if someone criticizes us? That's the only time they thought about us! Our world is what we choose to magnify. So let's not cooperate with depression! Make tomorrow so big that yesterday would be so scared silly to show up!

So, in the next couple of days, I will be receiving my Dean books 2.0. I will find the time to start working on setting up my Real Estate Investing business. That is going to be my next challenge and I am up for it. I know it is going to be a rough road ahead, but, quite frankly, I believe, like everybody else here, that real estate investing is something that has the bigger possibility and probability of securing our financial future at a faster pace. We all just have to work “smart”.

I thought it was impossible for me to actually type something up here. I actually did it. Thanks for visiting and reading my blog. Sorry it got lengthy, I got carried away!

Now, back to my garage-still-full-of-boxes. For right now, I need to re-claim the living space on my newly restored home. My Real Estate Investment #1 (and I thought before that was impossible for me!). Today, as I start my first Journal post on 1/23/2012 marks the start of when I ACTIVELY decided to do REI!

Happy Investing, Everyone.


"For which of you, desiring to build a tower, do not sit down first and count the cost, to see if he has enough to finish it?"
"(Luke 14:28)


Just Got My Dean Books! (And I'm going to THE EDGE 2012!)

I just received my Dean books! Smiling Dean's Video this week was really inspiring. If you haven't watched it, you should and you MUST!

Weekly Wisdom #166 - How to Get Rid of the Villain Within

The extra video at:

prompted me to ask the important questions in order for me to be able to calculate my costs (in order for me to make that decision to go).

And why am I doing this? Because I am hoping and eager to learn as much as I can so I can jumpstart my career in REI. (In response to my 7 levels deep answers, which I am not going to write here! Smiling )

I hope these calculations would help someone take action and decide to go to the EDGE event too! (If anyone is even reading this! Smiling . I guess it's true that having this journal might help me be accountable to my REI journey! I just took my "calculated" action towards it!

Now, onto reading my Dean Books!


REI Tasks done (so far)

Got these things done and set in place:
1) Business Permit
2) Business Bank Accounts
3) Website initial set-up
4) Been calling RE agents/offices looking for a buyer's agent who will search for as-is houses, 3/2/2s, been in the market for more than 90 days, asking for a list of cash sales for the past 90 days in my city/ZIP. (no luck yet.. I'll find it eventually Smiling

Welcome back (sort of)

I'm so plrasrd that you took this action. I know that you will succeed. Good luck to you.


"Winners never quit and quitters never win."-Vince Lombardi

Rick Cooper Investments

My journal:
My website:
Linkedin profile:



Thank you and good luck to you as well! Thanks for visiting my journal! Smiling


Hi Cris

congratulations for all the efforts you're making to go to the Edge 2012, and for taking steps towards your rei goals.

I started by building my business too, but honestly, you don't need all that to get started; you're better off building your buyers list, putting up bandit signs (yes, a definitely must do!) and making offers.

wishing you success,



“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss

"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown

My journal:

Valuni - Valerie

Hi Valerie,

Thanks for visiting my journal! I added 1 Buyer to my buyer's list. And intend on making offers. That's what I learned from Dean's books. I will post that when I have an offer accepted. Smiling (I just started last week). The tasks I have accomplished thus far is my way of getting started with the REI business and it didn't really require much time or effort from me. The bandit signs I will most definitely do.

Wish you success in REI as well!

REI Tasks done

Since I last typed an entry here in my Journal, I've done the following REI related tasks (among other tasks and juggling life):

1) Made and Put up 20 Bandit Signs
- Unfortunately this is not allowed in the area where I live. I only went up at 3 bandit signs and then tt was brought to my attention and was asked to take them down (well, or else I will get fined for each bandit sign!). Nobody wants that! And I want to abide by the rules. They say it is considered "littering". Well, I see some bandit signs around here sometimes, but they said that they are all also being warned about it. That was discouraging that I cannot use bandit signs, but there are other marketing techniques I can use - thinking outside the box) Smiling

2) Designed my business cards and other marketing tools (flyers, etc.) and ordered them.

3) Built my website (and will continue to improve on it - but it took a lot of work, so we are in the test drive phase, making sure all the links work). The brokers/agents I have spoken with almost always ask if I have a website (I think they size up an investor from their website? Who knows. A colleague mentioned maybe they want to see if my business is legit before they put in the offers for me). From what I know (because I studied and took a course on it), RE agents/brokers, upon receipt of a formal offer to purchase a property, HAVE TO give it or present it to the Seller. It is up to the Seller to accept it or not (they have a form with a checklist _Accept or _Reject or _Counter Offer that they HAVE TO submit. So it's a simple process of submitting a form. They can give advice to the Seller not to accept the offer, but they cannot NOT inform the Seller that such an offer was made, no matter how low the offer is. It is part of the Broker/Agent's obligation to his/her client to disclose this "low offer". At least that's what I know from some of the RE Laws around here in TX. So I still have not found my own "investor friendly" agent or broker. I'm still not giving up because I WILL eventually find one that will work with me. Smiling

4) Added two more buyers to my buyer's list, from calling and informing people that I am doing REI. (Most people are negative about it, (not having a website or REI in general) so I didn't want to get too discouraged there, I was going to build a website anyway). So I am just forging ahead.Smiling

5) Researched and inquired on REI Club Membership in my area (we have 2 big clubs here, but their fees are out of my budget right now. I will eventually join one of them). One has a coaching program as well (one was in the thousands!).

Since my main goal right now is to Build My Buyer's List, all the REI tasks that I have done to date points to that. The Bandit Sign strategy, I cannot use, so I just had to build a website that would be used for that, and produce and distribute marketing tools that would generate visits to the website. The techniques that Dean teaches are great. I will use most of them, (except the bandit sign) but just want to make sure that I am not breaking any local laws here while I am at it.

There's still much to be done, a lot of planning and scheduling and actually "DOING" and it requires hard work and tenacity. I am at it. I am maximizing my technology skills to use what I know would be beneficial to my REI business.

I want to get to my REI property #2 so bad! Smiling

Taking action. Trying hard to stay positive and enthusiastic!



"Enthusiasm is the mother of effort, and without it nothing great was ever achieved." - Ralph Waldo Emerson

I found this great thread

I found this great thread (ON RE Agents, & other useful stuff):

and this one too (BUYERS):

Just keeping it handy here. Smiling

REI Tasks Done

I typed an entry on my REI journey last 2/12/2012. I've been meaning to write something here for awhile but I got heavily sidetracked with the SPAM on the website. I started a Forum Thread on 2/20/2012 in an attempt to help delete the spam ads on the website. It identified 50 spammer accounts which deleted about 200 spam ads from the website. There were other DGers who undermined the effort and posted on that thread, so this was discouraging for me, because I didn't just whine and complain about the spam, I actually tried and do something about it by being part of the solution and being a problem solver. The forum thread was deleted on 3/2/2012 as the pages got too big and it was just on the active forum topics most of the time as more spammers were identified and the other DGers helped to add to the spammer's list. Barf! Barf! Oh well. That sure discouraged me from going to DG . com but it didn't stop me from continuing on with my REI tasks and goals that I have set for myself. They would eventually find a solution that would work for them in dealing with the spam. Smiling

So, to get back on track: Smiling

1) I finished the book "30 Days To Real Estate Cash". It is a great and a more structured book for REI beginners/newbies. Highly recommended for newbies. I think that if newbies read this book first, it answers a lot of questions and quashes unnecessary fear. If you are reading this and haven't bought the book yet, BUY IT. (Click Dean's Ad at the top of this page).

When I was at the first couple of pages of the book, I hit a question which I posted here:

Got my answer by searching for it on DG . com, so I thought I'd put the link here, too.

Reading that book brought me to a Forum Thread which I think is a "MUST READ" for everyone new at DG . com. It is the epitome of people helping people at its finest. It's a long thread, but if you want to see what everyone is DOING and going through, you won't feel so alone in doing this. It's a great encouraging and funny forum thread.

2) I ended up joining a local REI Club here and it has been a BLAST! I am learning and learning and taking action. So a lot of these tasks accomplished thus far, with my "not so successful search for an RE Agent" that I wrote about on Dean's thread" this week, I decided last week to try other "Dean Strategies". I have been quite successful at not associating/listening to naysayers anymore but it seemed like they were replaced by RE Agents, so I figured I'll do try other steps. Joining the REI Club was a step in the right direction and I am going to do the REI Club coaching as well. So far all the meetings have been a positive learning experience (the networking is one of the best parts!).

3) My website is ready to go. The team I am working with on it decided to make it too complicated with a chat function, that I of course halted for members only. I am not going to post my website here Smiling Barf! Barf! Smiling

4) Last Monday, I posted my first for sale as is property on my website. Today 4 more were added. So now, I have 5 properties that I am looking to sell. (All As-Is Houses) here in Texas.

5) Thought I'd put those 5 properties in the DG classified ads here in my journal as well to keep it handy for me.

$48500 Home For Sale As-Is in Houston, Texas
$68,900 Home For Sale As-Is in Humble, Texas
$30952 Home For Sale As-Is in Houston, Texas
$17184 Home For Sale As-Is in Humble, Texas
$37900 Home For Sale As-Is in Houston, Texas

Oh wow, my Journal entry has too many links now, it's looking like SPAM!! Smiling

I've been meaning to put these things here to track my own progress and keep me accountable. I started this journal REI journey last 1/23/2012. It's now 3/2/2012 - it may not be as quick as the others, but I am doing my best with the type of schedule that I have and when my schedule permits Smiling. I will keep on keeping on!


Links to keep handy for sharing

DG Links by DGers to keep handy for sharing (that I personally found helpful, useful or funny! Smiling.

DG Website Rules - MUST READ so we are all on the same page Smiling By DgAdmin

DG Website FAQs by DGAdmin

How To Blog Or Journal by Cris

What do you advise? by Jack

DG Site Instructions by Mike

80 Ways to find buyers by Jeff

30 Days Quick Cash Formula by Michelle

How To: Stop Being Scared And Start Making $0 Risk Offers by Erik

104 Websites to sell your property: by Sissy

Dean's Free Website: by Dean

Added 4 More Properties for Sale As Is (Handy Man Specials!)

Added 4 More Properties for sale on my website and also on the DG Classified ads. Keeping the links handy for me here:

$38,900 Home For Sale As-Is in Baytown, Texas 77521

$34,900 Home For Sale As-Is in Houston, Texas 77045

$49,900 Home For Sale As-Is in Houston, Texas 77075

$35,900 Home For Sale As-Is in Baytown, Texas 77520


Some posts I have noticed, are posted twice (I think this was when some of my posts were getting flagged when the site had new filters getting set up..

How do Real Estate Agents get paid?

I had this same question in the beginning and found the answers and have tried to share what I have learned. I thought I'd copy and paste it here in my Journal too (for easy sharing later).

Also answered on these forum threads:

"Agency Commission Splits

From what I have learned, there are 4 parties to the agency in a specific property sale:

1 - Listing / Selling Broker
2 - Listing / Selling Agent (or Salesperson)
3 - Buyer's Broker
4 - Buyer's Agent

As an investor, you are (if you so choose) going to be represented by a "Buyer's Agent" who submits your offers to the "Listing Agent". If the sale pushes through, all the four parties to the Deal will be paid from the proceeds of the Sale by the Seller. On average, the Real Estate Commission is 6% of the Sale or Purchase Price. So if for example, you have a $100,000 property, and the Seller negotiates the RE Commission at 6% with the Listing Agent or Listing Broker, that would be $6000 in commissions that would have to be split by the 4 parties I enumerated above. So going back to your question, how will your agent get paid?

If we use my example above: $6,000 / 4 = $1500. Usually, with the sale, the escrow funds will be at the title company. When the deal closes, the title company issues the checks for all parties, investor included. So, you don't have to write a check to your Buyer's Agent.

I hope the example helps. (I'm not a realtor, I am also still learning! But I learned this when I did my RE Investment #1 here in Texas). DG'ers, please feel free to correct me if I am wrong!

Happy investing!


Today, I joined Dean's Insider's Edge 3-Day Workshop

Today, I joined Dean's Insider's Edge 3-Day Workshop. (they also offer a refund if you do 5 deals within a year, like what PMI does, they also provide 1 year phone and email support). Hope it is worth the investment! Smiling

Other REI tasks done:

1) Attended REI club/group meetings - I am learning a lot from that as well. The coaching that I signed up for is really helping me understand my local market more - they also help me be accountable for tasks that I need to accomplish for our next coaching class, so hopefully I could close a deal soon! It's quite challenging because in my State you can't do A - B - C, using C's money to pay A. The B part, you really would need funding for it, in order to do a double closing! That is according to how it has been explained to me so the deal can be done legally Smiling Like I found out also, (the hard way) in my area, bandit signs are prohibited. Sad So I would have to use other ways of marketing and I am using it. I am doing it.

2) Added 2 more buyers to my buyers list. (My buyers want "confirmable numbers" to work with because they are using their IRAs to invest with me).

3) Will be meeting with my contractors so that they can give me repair estimates/quotes for the new properties for my buyers that I found so that we can make "good and realistic offers".

This takes a lot of work and I am getting impatient with myself! I am doing the best that I can, and I haven't found an RE agent who would work with me without an exclusive agreement. It's funny though because of my networking efforts, I found a "workaround for it" so, I think I mentioned it here (or in one of my responses to Dean's weekly video blogs), that I will not let the lack of an RE agent stop me from doing this. This week was when I found the "workaround" and I can't write about it here! Smiling Let's just say, if there's a will, there's a way, and I stumbled upon the way and I am happy with it! Smiling NETWORKING really helps!

I hope I can close a deal soon! Keeping positive and taking action.



REI Tasks done:

I carved out this day for REI work, and I spent a total of 13 hours at it - driving around to inspect 8 identified REO properties that I will put offers on.

I found 2 extra properties (which I didn't expect, they were both FSBOs). Spoke to the 2 different owners by phone and will be doing some numbers and see if I can meet with the two next week). My schedule is too "jampacked", I don't know how, maybe, meet them for lunch or something (because I've got to eat sometime Smiling)

Sometimes I think I am too slow at this.. I wish that when I get accustomed to this (REI) and get my business system to all go smoothly, then hopefully it becomes like clockwork. Smiling I want giant steps - not baby steps! Smiling

Just keeping ME accountable here. Scarcity vs. Abundance. Positive Mindset and a "CAN DO" attitude helps. But my energy level is dwindling down. Got to rest now. Smiling

Flagged this too ...

Flagged this too ...

(I don't get why this was flagged)

Got an extra $10 Bucks? Please Share & Donate! (ONLINE donations also accepted through PayPal, instructions at):

The 2012 EDGE Event Sign - Up Page is at:

The 2012 EDGE Event Forum is at:

/temporary signature added 3/23/2012 Smiling

I've just reconstructed the Links post

I've just reconstructed the Links original post (3/15/2012) & breaking it down here in parts. I'm not sure if it will post but I will try. I am putting it here so that my visits to this site becomes EFFICIENT for me, and I share it with others as well. Unfortunately DG bookmarks cannot be shared, we all will be copying threads and providing links to fellow DGers, so it is frustrating to not be able to do that, especially if the links are also from within DG . com and not outside websites.

Links to Keep Handy For Me & For Sharing - Part 1

Links to Keep Handy For Me & For Sharing - Part 1
(Reconstructed from 3/15/2012 original post that vanished from my Journal)

DG Website Rules - MUST READ so we are all on the same page Smiling By DG Admin

DG Website FAQs by DG Admin

Trivia: About Badges & Medals by Stephen
If you are wondering about those Badges and Medals (I think we all silently do wonder about it when we begin!)

Links to Keep Handy For Me & For Sharing - Part 2

Links to Keep Handy For Me & For Sharing - Part 2
(Reconstructed from 3/15/2012 original post that vanished from my Journal)

How To Blog Or Journal by Cris

What do you advise? by Jack

DG Site Instructions by Mike

Links to Keep Handy For Me & For Sharing - Part 3

Links to Keep Handy For Me & For Sharing - Part 3
(Reconstructed from 3/15/2012 original post that vanished from my Journal)

80 Ways to Find Buyers by Jeff

All the Questions a newbie can ask (from RE Agents to business cards to deals, it has been asked here (and answered!) - 30 Days Quick Cash Formula by Michelle

How to Stop Being Scared & Start Making $0 Risk Offers by Erik

Links to Keep Handy For Me & For Sharing - Part 4

Links to Keep Handy For Me & For Sharing - Part 4
(Reconstructed from 3/15/2012 original post that vanished from my Journal)

104 Websites to Sell your Property by Sissy

Dean's Free Website by Dean

Bookmark? by Kristen

Links to Keep Handy For Me & For Sharing - Part 5

Links to Keep Handy For Me & For Sharing - Part 6

Most Important Skill of Achievers by Thomas (TRSD)

My notes:
basic principles that Mr. Robbins laid out -


If we recognize the POTENTIAL and back it up with ACTIONS, we end up with RESULTS, which changes our BELIEF system, and then in turn we see again and believe in the POTENTIAL and back it up with more ACTIONS, and then the positive cycle continues (and this, by the same token, also happens with negative mindsets - if we do not believe in the POTENTIAL, then we don't back it up with ACTION, therefore we get negative or no RESULTS, and then we kid ourselves into thinking "it doesn't work" and then we get into that "negative" BELIEF system.

It's true, when he also said "people aren't truly SKEPTICAL, they are GUTLESS. They don't have the guts to follow through!" 99% vs 1%!

Our life changes in a moment, the moment we decide we want to change it!

Progress is progress. (Made me feel better since I have been kind of hard on myself lately for not closing a deal yet! Smiling - it will come! Smiling

Noticed one of my entries here got flagged again...

Noticed one of my entries here in my Journal got flagged again and disappeared... Those who flag posts need to reconsider and not abuse the "Flag As Offensive" button.

I only wrote that sometimes I feel treated more like a spammer than a customer (when I try to post something with a helpful link or links, and then I get a prompt that says my IP address has been blocked, or my posts don't even post altogether, and then they come out 2 or 3 times afterwards). That is a valid reaction because if I am just trying to help by posting DG links anyway, then, why should it be flagged? Why should my IP address be blocked? That's just customer feedback.

I do understand the filters that are set up that are being trained to do its job. Just my 2 cents worth of a little bit of IT knowledge. My post was manually flagged because it did not even have one link in it. And it was here last night.

Anyway, I wanted to go here before I take off for the 3 day workshop. This is when the spam and the filters get very discouraging for me.

No big deal. Let's see if this will disappear too. Hope not.

I feel your pain

I was updating my Table of Contents in my journal and the same thing happened.
It's very frustrating that it doesn't take into account our tenure or number of posts already created by us.

An idea I had while reading through your link posts is to make a .pdf with all your links in it and put it into your sig. PDFs are uploadable and wouldn't count as spam.
Just a thought.

Good luck at your 3 day workshop!


Mark K. Cool

Life Disclaimer: Past Failures are NOT indicative of Future Results.

Real Estate Glossary - Click Here for PDF

View My Everyday Blog - Click Here

Hi Mark

Well, sometimes even the things done with good intentions don't get through the filters that way. Smiling

If I wrote about the 3 day workshop here, I am sure it WILL be flagged. Sad

But I am keeping positive. I will keep on keeping on.

Now I am just going to focus on my deals!


Links to Keep Handy For Me & For Sharing - Part 7

Principles of Building Business Credit by Cae


Hi Cae,

Below are my su g g e s tions:

1) I see from your profile that you are from New Jersey. What you can do is google the website of the name of your County. And then call them up and ask them where you can get a Business Permit. (I did a quick google search on Richfield NJ, and learned it's in the Passaic County. So call their phone # and ask for their business address, where you can apply for a business permit). I am from Texas and I don't know how it's done over there, but over here, you have to personally go to the County Office and sign a form, they call it here "Assumed Name Certificate" - or DBA (Doing Business As) or Business Permit or Business License. (If you're a Sole Proprietor this Certificate would suffice and allow you go do next steps)

Before going to the County, think about what you will "name" your business, have at least 3 names (they will check this in their database if your chosen "Business Name" has already been registered). There's a minimal filing fee, not more than $20 I suppose. Bring an I.D. too. (Driver's License, etc). This permit is going to be filed and recorded in the County Clerk's Office, which will have a DOC #, DBA #, date & time of filing.

2) Now armed with your newly County Registered "Business Name", you can then go to

www .IRS . gov (without the spaces)

website and apply for an EIN (Employer Identification #), so you can use this # (instead of your SSN) to open your business account. This will be useful as well so that when you open your Business Checking Account, this is also what you will give to the bank. When you pay vendors, or employees, and come tax time, it will be much easier for reporting. There's an article at the IRS website that explains having the EIN better than I could Smiling Applying for an EIN is quick - you can do it in minutes online. Print this document as well.

3) You can bring documents #1 and #2 to your bank of choice and open a business checking or savings account. While doing that, you can also simultaneously apply for an unsecured Business Credit Card while you are still in the bank. Your personal banker will help you with this (they usually get points or extra cash bonus for opening up new credit card accounts! Smiling) That's how you build your business credit. In the event that you are not approved for an Unsecured Business Credit Card (most banks would be able to tell you within 15 minutes of sending an application, whether you are approved or not), Plan B is to apply for a "Secured Business Credit Card" - you can open one up with a "Deposit" of as low as $300 (your credit limit will be dependent on the amount of money you put up as "Security" for the Secured Business Credit Card.

4) Usually (well at least in my experience), after about 6 months of paying your Secured Business Credit Card on time), you will get invitations or applications in the mail for unsecured cards. (Sometimes too many! Smiling ) I have shared these tips with clients and other friends, because those who start out with trying to build some type of credit fall for those companies who say they will provide unsecured credit cards, with a limit of $300, BUT the cardmember has to get charged $150 first, or some exorbitant amount - it's unbelievable! So these tips are tried and tested and is the best and cheapest and safest route to go.

5) Once you get this started (after three months or so) you can check with Dun & Bradstreet (because of the Business Credit Card payments that you have established over a couple of months, they assign an automatic #, you can call them and ask what your Dun & Bradstreet's Number is then. Just good to know and keep for your records.

Another good source of reliable information is

www . sba . gov (without the spaces)

If your lender requires an LLC, you can (as I have seen it suggested also by other DGers) also check out

www . legalzoom . com

They have useful information out there as well. (I think rates begin at $99 + State Filing Fee). Good luck and Happy Investing! And congratulations for choosing to set up your business the right way! (By following the "RULES"! That's what I call laying a good foundation for good business! (Because you would be amazed at how others just do short cuts and just try to wing it! There are reasons WHY these laws were promulgated, to create order, to protect consumers, other legitimate businesses (who have done their own homework) and also to distinguish those businesses who choose to operate legitimately from those who do not. Smiling) GOOD LUCK!

If you have an accountant and an attorney, it will be good to consult with them as well.

Hope this info helps.


great journal

I enjoyed talking to you on the phone today, my 8 year old phone died and will not charge, that being said, I can still call it for messages till I get a new phone. I have wondered whether I am smart enough for a smart phone.

I really enjoyed reading your journal. You are laying a great foundation by developing all the business components, but as Val says it is not necessary for you to take action. And yet, I am an example of someone who jumped in and took action and jumped around to lots of different steps out of order. So now I am filling in the holes like in my business and marketing plans. But I do have the confidence of deals done.

Keep it up and I look forward to speaking with you at the EDGE.


Hi Judi,

jweaser wrote:
I enjoyed talking to you on the phone today, my 8 year old phone died and will not charge, that being said, I can still call it for messages till I get a new phone. I have wondered whether I am smart enough for a smart phone.

I really enjoyed reading your journal. You are laying a great foundation by developing all the business components, but as Val says it is not necessary for you to take action. And yet, I am an example of someone who jumped in and took action and jumped around to lots of different steps out of order. So now I am filling in the holes like in my business and marketing plans. But I do have the confidence of deals done.

Keep it up and I look forward to speaking with you at the EDGE.


Hi Judi,

Uh-oh!!! I experienced that myself just recently (4 year old smartphone died!) So I forwarded my mobile # to my landline until I was able to figure out the next touchscreen smartphone!

On the business side of things, that was very quick for me to do and have been reading (and re-reading) the Dean books. (and taking action too! Smiling I guess for some people, they can close quicker... I've experienced some setbacks recently but I think it is equipping me with more RE knowledge as well, so it's all good!

I look forward to meeting you at The Edge as well! I'm excited! Smiling Thanks for visiting my little journal! Good luck on your phone search too! Smiling


Gain The Edge 2012 ... WOW!

Gain The Edge 2012 ... WOW!

Seque: Our flight back tonight was EDGY! There was so much turbulence on the plane, well. something like solid 10 minutes of what felt like a roller coaster ride when it goes down from the highest peak! (Imagine coffee and water spilling on you while you're on flight! SCARY!) After all sorts of prayers, and all sorts of promises (I promise I will be good! I promise I will be good at REI! I promise I will do at least 5 deals this year! LOL! We all landed safely.

After the usual stresses of travel, finding your way out of the airport, getting to the car rental place, driving a rental car, getting lost in finding the hotel, (and then doing that all over again in reverse), was it worth it?

YES YES YES!! to the nth power!!!

Too excited and exhausted to write about it now -- but just thought I'd note it tonight that I had an amazing learning and empowering experience! I think everyone had a great time!

Everyone was awesome! I am glad I attended! Smiling

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