Sparkle's First Deals

Your on the right path, im not using any money on advertising at the moment. Im just using gost ads on CL at the moment.
But stick to it, learn so you can earn big, it may take time but it totally worth it...

Sparkle, the important thing is your are doing something. I also agree with DWard, put some ghost ads on craigslist advertising for a house to get those buyers contacting you, once they do politely tell them the property you had has already been snatched up so quickly, since it was such a great deal! Make sure you get buyers contact info and what they are on the market for price range, area of town, single homes, multi or even rentals and let them know you'll put them on your list of buyers to contact when you find another amazing deal.

As far as a the realtor you're working with, simply ask them for details of a deal they have done, or how many deals they've completed recently and any other information you want to know? If you find it's not what you're looking for or don't think it's a good fit...just move on

One other thing that is stressed around here, find out where your local REIA meetings are and go! Great opporunity for marketing yourself and networking. Business cards would be helpful in this setting, I've just purchased mine for $25 bucks online, or you could atleast get some business cards from others so you'll have the contact info and go from there!

Good luck!

I, and i'm sure others want to get to know you here on the forums, when you get a moment be sure to put yourself out there even more and fill out your profile information! Great opportunity to connect and maybe find people in your area you can network with

Thank you very much DWade and KLSobo. I will update my profile and looking into my local REIA as soon as I can find a dedicated babysitter.

I'm still searching for a realtor. The one I have been talking to wants to meet me and have me show a proof of funds before he does anything. I can understand his point of view. But I am at a hard place since I do not have funds.

Hi Sparkle, your taking action and keep your focus, you have a winning smile, so your on your way and dont get distracted, wishing you well, Jim

I just finished talking to an agent who also does investing. He seems to be going out on faith with me! I am so elated! I finally found a way around the whole proof of funds thing.

I have an agent willing to work with me and a buyer needing properties. I hope I can match them up soon!

Sparkle i'm following your journey! Glad you found yourself a realtor that is also investor friendly! I have myself also, waiting on a response on some expired MLS listings and will be sending them a yellow letter to see if they're interested in selling, have the buyers....now just need the deals!

How nervous are you??? Me TERRIFIED, excited giddy and cautious all at the same time!!! I can't wait for you to come on here and brag about your first deal!!

Take care.
Kristen

I just finished speaking to my REA, unfortunately he's been burned by others using Dean's strategies, but on the good side is still willing to work with me.

Kristen - Congrats on your REA, I hope this go well. I am extremely nervous. I'm really going out on faith here and I have two very good "why's." I look forward to seeing your first deal as well.

I also got permission from my REA to advertise the duplexes he has listed. I'm also still looking for other motivated sellers. We'll see where it goes.

My first contact on the duplexes didn't pan out, but he gave me the figures he would like to invest in. Just as I as putting the duplexes out of mind, someone else emails me about them, but now they wan to see them. Since I found them through my REA, I'm not sure about how to get them under contract. BTW I have no earnest money to offer.

I have a second REA willing to work with me and I plan to meet him face to face.

I heard a lot of no's, but my yes's and maybe's are making me feel pretty good.

Still nervous about wholesaling, but I've already jumped in now I have to swim.

Hi Sparkle!

You're doing great!
May I suggest going through the thread 30 Days Quick Cash Formula, here's the table of contents: http://www.deangraziosi.com/real-estate-forums/everything-else/86517/30-... (hope this works)

There are many start-up threads here, but this one is a good starter.
It will explain and has real-life journaling:
Finding RE Agents
Building your buyers list
POF
Marketing for free and ghost ads

Also, go to an active thread from Shirley...
"2 more REAs Bite the dust"

Stay enthusiastic, add a cup of basics, gain some confidence and go get 'em!

I just finished meeting with my REA and he seems wonderful. I have some great deals, but the buyers I have don't want them. Unfortunately, the one within their price range are in "warzones" but constantly have renters in them.

No sure what to do.

You have so inspired me to get moving and make the calls. I am going to start making calls on tomorrow. I know there is someone out there that is willing to help with me.

Keep it up and don't let anyone get you off track not even you.

If the homes have renters in them and they are not the owner have you tried finding the owners they maybe a tired landlord.All you need is the address then you locan find the name on your online tax assessor site.Also if your're buyers aren't interested have you tried craiglist surrounding areas.Or call all the real estate LLC in the phone books those are investors also.

Sparle,

If I (and so many others) can do this you can too. Thomas Edison said that he found ways/reasons why the light bulb didn't work. BTW, my marketing budget is $0. With the exception of my businrss cards from vistaprint http://www.vistaprint.com/vp/welcomeback.aspx?xnav=welcome&GNF=1&rd=1 Those cards will come in handy at the REI club meetings (networking). I give them out to anyone and everyone I talk to.

Please don"t get discouraged when dealing with realtos. There are over 8,000 of them in Broward County (where I live) and I found 7 I will NOT be working with. I'm encouraged by the 9/14 conference call with Matt Larson. Each time I play back one of these calls I pick up something new.

No matter how small, things have a way of "snowballing". If you read mu journal you'll see what I'm talking about. I fins that I'm very busy dispite my many challenges. KL Sobo is correct when she said "the important thing is your are doing something." You might also read "Wholesaling Basics 101" thread here on the DG site. Just search under Dean's chin to find it.

Excuse my long post. Hope this helps. Happy investing.

To ekn2god, I'm glad I could inspire you and wish you the best in your endeavors.

To csjenkins, thank you for the tip. I had already looked into that. The owners enjoy the cashflow they currently have, but don't want anymore liabilities.

To FLAREI, thank you for the words of encouragement. Every little bit helps. I'm currently seeing if a family member will help me with the business cards or pay the due for the REIA.

It's been weeks since anything has happened. I am at a complete stand still. I can't seem to make headway. There are some great deals, but I am not in contact with any buyers. I can't afford the REIAs in my area.

I was thinking of traveling outside of my immediate area, but without gas money I can't go out of similar neighbors. Without a babysitter, bringing kids to a meeting doesn't seem like a great first impression.

My buyers list is nil. My ghost ads have brought nothing. It's very frustrating. I think I know what to do and how to do it, it just doesn't seem forthcoming.

I went to view two properties yesterday and they have great potential. I have one potential buyer, but wold love to make a move on these deals. They both are light fixer uppers in fantastic neighborhoods. I want to get them under contract and am going to look around on how to do that.

Both houses are being sold through REA's but no individual homebuyer will take them. These two are perfect for an investor. Not sure what to do. Going back to the books and going to take notes. I know with the right rehab estimate I can get both places for at least 30% off!

Hi you are on the right path.Don't give up.You don't have to tell the realtor that you are assigning.Just tell them that you are looking to fix and flip and profit 25-30k after all commissions and fees are paid.
Hope this helps.

I have begun my journey and getting a few jitters, but that is why I am here to be inspired and encouraged to move forward.

Since I have a $0 marketing budget, I've been searching through the yellow pages and craigslist to email potential Realtors to work with. I have one that I am communicating with, but they have never done assignment contracts. I'm not sure to continue with this person or trust in their general experience.

I have not made any headway with my buyers list. Still researching the auctions and REIAs. In the meantime, I am using what resources I have in order to continue being an investor.[/quote]

Sparkle,

It's your choice to contiue to look for a REA. Consider drawing up the contract for the homeowner, an assingment agreement for your buyer (both docs are here). Then take both signed contracts to a title company (or RE atturney) and pick up your check after closing. This way you control the deal(s)

Cashinvest,

Kundos for having a $0 marketing budget. Try using also Backpage http://ftlauderdale.backpage.com/ and Pennysaver http://www.pennysaverusa.com/classifieds/usa/index.html?ajax_login=1&nex... and Exigoo (Google's free advertising site) http://www.googleclassifieds.com/login.html All are free.

To both (and anyone else), If you have a website submit it to Seatch Engine Optimization (SEO) sites to maximize your exposure. Google to find free SEO sites. They will get your website noticed by sellers and buyers.

I've taken this a bit further and placed a link to my website in my e-mail signature like my post here.

Hope this helps.

Sorry, I've been out of the loop. Financial circumstances have gotten worse. In my frustration I have been looking anywhere and everywhere for means of funds.

I have a cash buyers list with addresses, but am having difficulty with paying for postcards and postage. In the meantime, I'm using every opportunity I can to pass out my old business cards, but to definitely mention that I am in the real estate game.

The two properties I looked at are still on the market (as expected) if anyone knows someone who has the ability to purchase and flip an REO, these would be a great income property.

I'll be playing catch up with the videos. Hoping for the best.

You sound like you are determined to succeed. Don't let little voices in the back of your mind get you down. My husband and I are new at this, too. We keep finding lots of busy work to keep us occupied but we have yet to make a deal. From what I keep seeing in all the forums, our most important asset is going to be our buyers list. You are able to get online so go look up your county tax records. Look up addresses you see as FSBO or For Rent and find out who the owner is. Plug their name into the site and see how many properties they own. The more they own, the more likely they are to be an investor. At this point, look them up on facebook or in the phone book. There are lots of ways to get ahold of them for free. Your kids need you to succeed in this. So don't give up. Get on here when you get down. There are tons of inspirational stories and people here. Good luck! Can't wait to hear about your next deal!!!!

I have been given the wonderful opportunitiy to join Dean's Inner Circle. I can take things to the next level. I have been trying to do the best I can on my own, but I truly do need a mentor. I figured out that though I like to try new things, it's easier to try them with one of two people: (1) A friend whose willing to be as all in as you are or (2) Someone who has been there and will help you avoid the bigger mistakes.

I hope to have my first deal under my belt sooner than later. I know that once the first deal happens, more confidence will be built and other deals will follow. I am very optimistic. I am setting a goal to replace my current monthly income and more with real estate.

I like working directly with distressed homeowners. One of my rehab buyers in my city called about one of my properties for sale, I told him I hadnt had any good experiences with realtors, he says, "and you never will" Another investor friend said he sometimes goes thru realtors and he instructs them to stay out of the way and let him do the deal. I suggest using bandit signs and bird dogs, thats how I've got my deals.You dont need realtors to do deals.

Hi DG Family,

I've been busy with family, work, and wholesaling. I am happy to report that I got over my fear and and started submitting offers. It costs nothing to submit and offer, just read the find print where earnest money is concerned.

Although, now I have a new problem. I want to submit more and more offers to hit that payday, but none of them look sound for my current strategy. I'll keep my head up and keep moving forward.

SparKle,

Consider adjusting your offer numbers to entice a buyer. Also (as you know), the more offers you make the more your chances of a deal. Keep up the good work.

Still submitting offers with no paydirt. The offers look great 75% or more according to asking price and still discounted according to ARV. Now my real estate agent is saying every wants a bank statement or verification of funds.

I thinking of looking for a new agent.

Also I came across some properties in the Detroit area that may be some real gems. Unfortunately, I have no one licensed in the area and no buyer for the Detroit market.

DG Family, especially Rick, you have been so helpful and supportive. If there is any help or info you could give, it would be greatly appreciated.

Your agent is telling you the truth. Any offer I have made on an REO or Short Sale has required a Proof of Funds letter along with a COPY of an earnest money check in order for my offer to be taken seriously or even considered.
Don't let that stop you! You can get POF letters from many sources!

As far as Detroit, for me I would partner with someone on the ground that already has a team in place. OR i would start looking for and interviewing agents while building my buyers list.

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

Hello DG Family,

I am interested in meeting as many of you in the Sacramento area as possible. This could very much result in a regular MeetUp. Being around like minded people can do wonders and breed fantastic ideas. Feel free to PM me for my phone number or Yahoo IM. Let's help each other out!