SUCCESS begins at the end of your comfort zone!

Ali Safavi is my new hero in Dean's program. He is polished, professional and making a killing in this business. So, I've begun latching onto his every morsel of an idea and trying to replicate his success in my business - one step at a time.

Last night I was one of 100+ people attending a live chat with Ali. HOW COOL when he responded to a few of my questions!

One of his tips and tricks last night was to email your entire LinkedIn connection database (I have 800+ connections from my corporate america days) and tell them you've "retired" and are now finding RE for 50 cents on the dollar and then ask them what's new with them. It's very sneaky because it's a personal ghost ad hand delivered with a bow.

He said you would get 1 of 3 responses:
1) No response at all
2) That they've taken on some Tier 1 initiative at their new company and blah blah blah
3) Real estate? Tell me more...

Well, so far I've sent probably 75 emails. I've gotten many no responses or "is this spam" emails. I've gotten a LOT of "this is what's new with me, blah blah blah" and I've gotten TWO people who said SWEET! tell me more....

Now is when it would really pay to have someone working $10/hour for me to bang these out, but I have the template down to a science and seem to be pushing through OK.

Looking forward to seeing how the rest of my day unfolds

Had a super pumped and charged day today thanks to Ali's talk last night!

- Still making my way through my LI connections. I've added 6 potential investors or people who can find me investors to my list today.
- Had another great life coaching session with Kim
- Got a verbal on a $5k finders fee for a trailer park deal. Waiting on his signature tomorrow. Many steps between now and close but one step at a time!
- Advertised a new deal for 20% return
- 5 commercial offers to my realtor who specializes in this
- Scheduled SIX face to face meetings for next week when I'm in Indy and waiting to confirm at least 6 more...

NOT ENOUGH TIME IN THE DAY...

YOU ARE AWESOME. We are so glad we met at the EDGE and that we have been able to stay connected. I will say that reading your posts gives me extra motivation every day. This is a crazy life we have chosen to live and sometimes it feels like I am going crazy. BUT its always a relief to have like minded people to go to and get motivation from- soo yep I just said you were crazy too lol. Anyway thanks for chatting with me this AM and we are soo looking forward to your trip to Indy and hanging out- we do hope the infamous DAVE can come too- we'd enjoy meeting him.

Anywho have a GREAT evening lady and keep up the momentum!

I relate!! Love seeing your posts here. You are fired up and rocking it!

I love that you are jumping into the commercial realm too. Awesome. You will be at next year's Edge saying on one of your first 10 deals, you were able to net $75K just because YOU TOOK ACTION on those commercial ones. (And I'm probably underestimating you...don't let me do that!!) I'm in awe! Very cool.

I agree with you about Ali. He is killing it and an amazing mentor to aspire to. Due to my kids, I'm never on the night sessions, but I do need to get better at going and watching the repeats. Such amazing info there. Great LinkedIn tip. I guess I better get my butt on LinkedIn! Marketing, marketing, marketing. Awesome!

Replicating success...like you mentioned is so smart. That is so key...learning from others successes. I have a Ralph Waldo Emerson quote hanging that says "Do not go where the path may lead, go instead, where there is no path and make a trail" ---so while I do see the "innovation" in this quote ---I must say, that recently, I've wanted to put the quote above my dog's water bowl, and get it out of my life. Not because I don't want to go out and "make a trail", but because why recreate the wheel when someone else has seriously laid out success steps for us....i.e. Ali, Matt, Dean. It's funny how that quote hits you at different phases in real estate.

You are keeping that motivation on fire...love it and love your posts!
Cheers!
Louisa

LOVE THIS! From totalviewrealestate.com - another one of Dean's awesome sites! This list is great.

AFD = Agreement For Deed
AFF = Automated Foreclosure Finder
AITD = All Inclusive Trust Deed
AMR = Anticipated Market Value
APN# = Assessors Parcel Number
APR = Annual Percentage Rate
ARM = Adjustable rate mortgage
ARV = After Repair Value
ASP = Anticipated Selling Price
BARM = Be a Real Estate Millionaire (Dean´s book.)
BOM = Back On Market
BOR = Board of Realtors
BPO = Broker´s Price Opinion
CAD = County Appraisal District
Cap = Capitalization
CAP = Cap Rate (NOI / Price)
CCIM = Certified Commercial Investment Member
CCR = Conditions, Covenants, and Restrictions
CDA = Confidential Disclosure Agreement
CFD = Contract for Deed
CLTV = combined loan to value. This is if you have a 1st and 2nd or HELOC on your home, it is the combined amount owned compared to the value of your home.
CMA = Comparative Market Analysis
COCR = Cash on Cash Return
COE = Close Of Escrow
COF = Cost of Funds
COO = Certificate of Occupancy
CPI = Consumer Price Index
CRB = Certified Residential Broker
CRE = Creative Real Estate
CRS = Certified Residential Specialist
DBA = Doing Business As
DCR = Debt Coverage Ratio
DOM = Days on Market
DOS = Due On Sale Clause
DOT = Deed of Trust
DSCR = Debt Service Coverage Ratio
EM = Earnest Money
FAL = Foreclosure Alert
FCRA = Fair Credit Reporting Act
FFE = Furniture, Fixture, and Equipment
FHA = Federal Housing Administration
FHLMC = Federal Home Loan Mortgage Corporation, Freddie Mac
FMR = Fair Market Rent
FMV = Fair Market Value
FNMA = (Fannie Mae) - Federal National Mortgage Association
FRBO = For Rent by Owner
FSBO = For Sale By Owner
GMAC = General Motors Acceptance Corporation
GRM = Gross Rent Multiplier, is the price divided by the total rent. The problem with it (as opposed to the cap rate) is that it does NOT include an info on expenses
HELOC = Home Equity Line of Credit
HML = Hard money lender
HOA = Homeowners Association
HUD = Housing and Urban Development
HVAC = Heating, Ventilation and Air Conditioning
IEE = Instant Equity Exchange
IRA = Individual Retirement Account
IRC = Internal Revenue Code
IRR = Internal Rate of Return
IRS = Internal Revenue Service
L/O = Lease Option
L/P = Lease Purchase
L/S = Landlord Seller
LIBOR = London Interbank Offering Rate
LLC = Limited Liability Company
LO = Lease Option
LOA = Letter of Authorization
LOC = Line of Credit
LOI = Letter of Intent
LP = Limited Partnership
LPOA = Limited Power of Attorney
LTV = Loan-to-value ratio
MAI = Member Appraisal Institute
MAO = Maxium Allowable Offer (Typically if you can get it, it is 30% off the ARV less repairs)
MIP = Mortgage Insurance Premium
MLS = Multiple Listing Service
MUD = Municipal Utility District
NAR = National Association of Realtors
NDA = Non-disclosure Agreement
(also known as a confidentiality agreement)
NIV = No Income Verification
NMD = No money down
NNN = Triple Net Lease
NOD = Notice of Default
NOI = Net Operating Income (Total Income minus all expenses EXCEPT debt service)
NOO = Non Owner Occupied
NTS = notice of trustee sale
O/F = Owner Finance
OBO = Or best offer
OO = Owner Occupied
OPM = Other people´s money
P&S = Purchase and Sale
PITI = principal, interest, taxes, & insurance
PMI = Private mortgage insurance
POA = Power of Attorney
PR = Primary Residence
PUD = Planned Unit Development
REI = Real Estate Investing / Real Estate Investor
REIA = Real Estate Investors Association
REIT = Real Estate Investment Trust
REO = Real estate owned
ROI = Return On Investment
RTO = Rent to Own
SBA = Small Business Administration
SBC = Small Balance Commercial (under 5 million)
SEC = US Securities and Exchange Commission
SFH = Single Family House
SFR = Single-family residence
Sub2 = Buying property subject to existing financing
T/B = Tenant Buyer
TAA = Texas Apartment Association
TAR = Texas Association of Realtors
TAV = Tax Assessed Value
TIL = Truth In Lending
TREC = Texas Real Estate Commission
UBIT = Unrelated Business Income Tax
UCC = Uniform Commercial Code
VA = Department of Veterans Affairs / Veterans Administration

Went through some of the DGIE 30 days to quick cash program in preparation for the AE training.

Continued to reach out to LinkedIn network and managed to capture 2 more potential buyers

Got a few "NO" on the loopnet commercial properties and also have a tentative yes for a 10-unit apartment building in Pompano Beach. Managed to get a buyer interested in this property so we'll see if this goes to contract (last apartment complex kind of stalled). this one has a profit potential between $20-60k, depending..

Began to build my power team in South Florida - hooked up with what appears to be an investor-friendly realtor who has been in contact all day. tomorrow i'm going to push the envelope and ask for more things. Also, posted a ghost ad in broward county to start building my buyers list. AND, talked to 2 banks who can do refi's but ONLY on the lower of purchase vs appraisal. This might actually work in this market because it's a very strange market with price fluctuating a lot. some properties are being purchased WAY over list price, but will continue to call banks and get more opinions than just 2 Need to also look for contractors, property management, insurance and the rest of the team.

got approved for a staples business credit card with revolving credit!!! Woo-hoo!!! Already have a credit line with AMEX which I pay in full every month and am on my way to building good credit and improving my paydex score. Now I can order some things from there as they are having a $20 sale on things like business cards, car door magnets, etc!

feel like i need 10 more hours in this day....!
parents are coming this weekend so i'll be very distracted with that
business trip next week to meet buyers and power team in indy! 3 more meetings scheduled today

Hope everyone else had a PRODUCTIVE day!!!

I'm signing out for the weekend and then heading to Indy Monday morning for some face time with clients, prospects and partners.

Officially purchased the Quickbooks online application for my bookkeeper, accountant and me to all be in synch using the same login and having access to all the information with me being able to "lock" anyone out if I ever needed to.

Scheduled another meeting for my Indy trip

Came up with a good idea for another DGIE video which i'm going to record next week

talked to a new potential investor who knows

Decided that there are 2 kinds of buyers, and maybe more. But, the way I'm breaking it down into 2 groups right now is: Active and Passive.

Active investors are like you and me and dean and matt and everyone in between - we have our hands in the day to day operations of making this business a success and we look for deals (or have people look for us) as well as do the due diligence, etc. These buyers are very aggressive with making sure they get the very best deal at any give time. They want deals on a silver platter. And, they often want to put their blood, sweat and tears into the deal (or most likely outsource the work to others) so they can reap a bigger financial advantage.

There are also passive buyers - the kind of buyers that Ali talks about - the professionals that are OK with a 10% return because they don't have any other options. They don't know how to find deals nor do they want to look. Some are looking for better returns but most just want a better return than the bank is giving (where's the easy button?!) or they're looking for an asset to backup their investment, unlike what the stock market can offer. These buyers often have deep pockets but whether they can buy many properties or just one - they want/need a turnkey solution because not only do they not know how to find deals but they don't know where to find property managers, contractors, insurance folks, etc.

I've decided I'm going to keep searching for more Passive buyers.. What type of buyer do you have in your bucket??

What is insiders elite?

I'm in Indianapolis for the first time since investing in this market and I'm starting to see the advantage of investing in your backyard. While I've done a few deals here and am doing OK, I'm really lacking the local connection to the market. The inherent connection you have with your backyard market: the people, the neighborhoods, etc

So I'm here "driving for dollars" and placing a few bandit signs and also riding around with "We buy Houses" on the back windshield of my car in removable marker paint because I didn't realize that Staples has a 7 day turnaround on customized door magnets so I couldn't pick one up yesterday.

I had to fire my local realtor. I know these people come and go, so I"m OK with it but it came as a bit of sudden news because while he has a lot of characteristics you need in an investor-friendly realtor he's NEVER in town which began to negatively impact our working relationship. Case in point - he's not even here right now when I booked the trip in the first place for this week because he said he would be here.

At least I have a few meetings with other people this week, including an investor-friendly realtor this afternoon as well as a commercial realtor who has access to off-market apartment complexes all over the country.

looking to gather my thoughts from another productive, crazy day so i'm coming to the dg.com site to recap my day and also outline a plan of attack for follow up to get this stuff wrapped up in the next 2.5 hours

- Received counters on TWO commercial properties in FLL. PUtting the #s together tonight for my brazilian buyer so that hopefully we can close on one of these.

- New-to-me FLL realtor has provided everything i've asked for: listings, sold retail sales last 30 days, sold REO's last 30 days, cash buyers last 90 days and YTD financing numbers broken down by cash, conventional, FHA. Now it's up to me to carve time out of my day to look over everything and get back to him about next steps for tackling that market

- Driving for $$$: collected 5 for rent #s & 9 FSBO leads today.

- put out 25 bandit signs and already received 2 calls. one woman needed to call me back and i'm pretty sure there was a drug deal going on in the background, but the other guy has 6 houses for me to look at now and also more houses if we can come to terms on the first 6.

- had lunch with some flippers that i've been in touch with and now I better understand their short & long term strategy. For now, Going to help them sell a house or two

That's all the MAJOR stuff. if I can get this done tonight, I will be one happy CHICA.

good question! it's one of dean's website that's paid memberships. it has a WEALTH of resources and videos and a bunch of goodies depending on the package level you buy. Here's the website: http://www.dginsiderelite.com. I'm sure you can email one of dean's admin's for more information on cost!!!

COME JOIN US!!!

Thank you for detailing your actions so well for us to follow. Curious as to the exact criteria you request for, as mentioned above, listings, and could you expound on YTD financing numbers broken down by cash, conventional, FHA?

Love your tenacity! You do seem to be moving forward as if you've been there, done that, in another life. Do you feel you would be making such focused, hard paced progression working from just the written material, without having purchased a SA coach/mentor?

Thanks - it's a GREAT day to hear that!!!

The exact criteria I used for the listings I requested above includes the following:
- Single-family homes 3-4 bedrooms, 1-2 baths at least 1000 sq. feet.
- $200,000 and less
- Please include the following key words: price reduced, vacant, as-is
- No mobile homes at this time
- No home built before 1950
- No vacant ground
- Located in zip codes, only in low crime neighborhoods: then I named the zip codes.

HOPE THIS HELPS!!!!

What I mean by YTD financing #s is that my realtor not only sent me a list of cash buyers but also sent me a breakdown of all sales the past 60 days meaning which were purchased with cash, which with financing, etc.

I think everything happens for a reason! I know I am here because of the steps I've taken, including all the books, courses, classes, college, etc. I also know I'm suffering a MAJOR setback with my last deal because I needed to learn the lessons I've now learned and the hardest part is I think i'm only 1/5 of the way through this lesson with a long road ahead.

Either way, not everyone has the same path or needs the same thing to get where we get. Some need more, some need less. I know this is not directly answering your question, but I think it's the fairest thing i can say. Needless to say I do not REGRET a single dime I've spent (and I've spent MANY!) on any of the above

Hope all is well with you!!! Thanks for checking in,
Kristin

You ROCK!!!

Really appreciate you taking the time to provide us with even more detailed info on your work. That was very helpful indeed.

And, thanks too for your comments on the paid coaching subject. Hope I didn't put you on the spot there. I've been on the fence for a while now, convinced that I can do it on my own with what I've learned, but would love to have that on the spot guidance during foggy conditions. True, not everyone has the same path or needs to reach the many different levels of REI success. This site alone gives testament to a plethora of ways to get it done.

With your apparent commitment & drive, it's safe to say that I, along with many others, look forward to following your path, so stay on track, and keep it coming!

I feel a big sense of relief to be in another MONDAY and ready to work again. This past weekend I was VERY distracted with family time and I'm very grateful that I have the opportunity to take time to be with my parents and siblings but when you're hitting the ground pounding the pavement it can feel more like a burden than a relief. Needless to say, I kept "in the moment" all weekend and only responded to work things when they were required. And now, I'm thankful it's Monday and I'm back in the game!

Just arrived back in Indianapolis and sitting at Panera Bread waiting to meet my new contractor. He looked at 3 houses Saturday and we're going to talk through the numbers and next steps. I won't be closing on these homes but will do my best to refer him to do the work when I wholesale. After our meeting, I'm meeting the seller at 2pm today to talk final numbers and get the offers written. He knows my intent is not to keep them but he has TEN more houses that I can possibly work, so I want to make sure I preserve the relationship from the beginning in case something falls through with one of the 3.

Also today, I have lots of people to touch base with and talk about next steps for various processes that are in different stages. Most interesting are a 49-unit trailer park for $950k that I will earn 2% marketing fee on and a 6-unit FLL apartment complex that I'm trying to get under contract.

At 6pm tonight I'm meeting my bookkeeper and talking about next steps in getting my information transferred to her. Tomorrow, I'm heading back to CT for a week before flying to AZ for the area manager training!!!

Lots to be excited about!!!

LOOKING FORWARD TO A PRODUCTIVE AFTERNOON!

PHew! Got out all 50 bandit signs. Feels GOOD! Signing first contract today from the bandit signs!!!

WOW! You are cranking it out, no stopping you. We have been running through the 30 days online also but no where as focused as you are with everything you have going on. We close on our new build this coming Thursday, its been a long stressful process but we are going to make a nice profit, plus made a lot of contacts through it, and learned some good lessons. We close on a 2.5 acre lot on Mon, .5 acres are for sale in the neighborhood for $30k. A wholesaler in the area sent this to me. The owners were behind on taxes and out of state, so they wanted out. We are fired up about the training next week with Dean and Matt and the others. Later

Jack & Michelle - Look forward to seeing you both next week!!! Are you both coming now???
Today was day 1 of month 2 of INSANITY!! FEELIN' GOOD - watching my knees!

Congrats on the profit!!!! See you soon

Got another phone call today from a woman in a GOOD Indy township looking to sell. Setting up a time with my contractor to go there tomorrow and hoping to lock this thing up!!!

Sent a "teaser" email to one of my buyers about this property to double check the numbers (without giving him the address) and also to dangle the carrot because it's pretty much right up his ally from what I understand.

Stay tuned...

Sitting in AZ with 40 of my closest new friends as we tackle the Area Manager training certification program! Feeling very blessed to be part of this first big batch of DG members to help the current AM's take this to a new level! The current AM's are very inspiring and I'm grateful to get to learn from them and also have Matt teaching this 3 day class. There are so many people doing PHENOMENAL things and I"m looking forward to learning from them and being part of this in the months/years to come!!!

Day 1 was a great start. Everyone is energized and ready for MORE!! GIVE US MORE!!! Have a few hours worth of work to do tonight which is going to help me take my business to the next level

But, first thing is first....

One thing that has really resonated with me is when Matt said that in 2009 he almost quit and in order to move to the next level he basically started over. I can relate because I feel bogged down by a few things that I need to get off my plate. For example, some of it is the "little" things: I'm part of way too many email lists that I can move to another folder so they don't clog my inbox. My dropbox is also getting a little bit hard to manage that is causing me un-needed stress so I'm going to clean it up and start fresh.

It's a good thing that I recently fired my Indy realtor but I haven't taken the actions to get a new one and a lightbulb went off today that my property manager company is a "b" player so i will need to stop working with him as well. Building the RIGHT "A" players really takes tenacity and I'm going to knock this out of the park!!! I'm grateful that I'm sitting here empowered with the right tools to take the first few steps to get some ads out tonight!

Another thing Matt said that really resonated is that CALLS will KILL my business. Yes, talking on the phone is a time suck. They take too much time and things can just as easily be resolved through email and text.

So, that's it - I need to clean up and charge forward!

I CANNOT WAIT UNTIL TOMORROW!!!! This stuff that Matt is teaching is game-changing. I am so stoked to be part of this community. Not only the AM community but the DG team at-large. Every day I meet people willing to give their time and knowledge to others so that they can make money and reach their goals.

AWESOME feeling to have so much support and structure supporting the Area Manager initiative! Looking forward the next few months!!! I am going to be conscious of the 3 bottlenecks (acquisition, rehab and rent) throughout the process and first and foremost address the acquisition so I can lock more properties on contract ASAP.

- Post training I've just turned in my Power Team to production so that I can be set up to GO!!!
- 12 MLS offers out to new RE agent to test the waters on the agreed upon turnaround time for submission
- Coordinated with rehab team to make sure we are good to go when the first property comes through

Here are a few great tidbits I picked up at the event:
- Confusion causes delay. Communication is key!
- don't deviate
- quicker. faster. better.
- every problem is an opportunity to make $$$$
- rent is the single greatest determination of ROI

More deals = More $$$ in everyone's pockets = more deals = more $$$ = more deals = more $$$

Wouldn't you know it but I cranked out a 10 page business plan on the plane ride home today! It's only 10 pages because of the way it's spaced to look nice without running on for too long in any one part and not having enough white space. But, it thoroughly covers my new objectives based on my new buyer's objectives and how I plan to work with my power team. It contains an Overview, Program Specifics, Timeline, Role definition and Conclusion. Can't wait to finish it in the next day and roll this out to the team!!!

READY. AIM. FIRE!

Thanks for posting about the AM training, am so sorry I missed it (had to cancel at the last minute) Sounds like you will be processing the info for days. Congrats on the business plan sounds you are ready to kick some butt!

Thank You --- We missed you!!!!

Just connected with an airline pilot from a CRAIGSLIST ad who has a successful RE business as a wholesaler (who would've thought!). He just happens to be sourcing deals through very creative marketing techniques so that he is first position with homeowners before a realtor even gets involved. He's sending me deals RIGHT NOW...!!!

That's awesome! All your hard work is paying off!

Thank You!!!

Yesterday was an AMAZING day and I'm looking forward to an even better one today!!! I love the natural HIGH from being at an event. Especially one of Dean's events! And specifically one with all the people I met and saw again this last weekend! A-PLAYERS, all the way!!!

I finished my business plan yesterday, less than 24 hours after I started it!!! It's so easy to do something when you are passionate about it! And, I shared this with one trustworthy source who said it was rockstar status!! Makes me ))))

I had 30 minute calls with my realtor/Property Manager and my Contractor. Everyone is FULLY onboard, is aware of our objectives and knows the timeframe.

Due to the increased volume of properties needed, aggressively looking for deals! I've been busy networking with other wholesalers plugged into the Indianapolis market to leverage their TIME for finding deals. So far - not bad! But I know there are a lot of B, C & D wholesalers out there so I created a method to sort through the dust. At the suggestion of one of my A player wholesalers, I've created a "wholesaler submittal form" that I will require all wholesalers to complete when submitting deals to me. This will ensure I have all the right information upfront about the property so I can plug and play for AM related stuff.

For leads, I had my contractor go to one house that I thought was a shoe-in because it only needed "cosmetic repairs" only to find out that it needs much more. This will be something I refine in the coming weeks because I need people to check out houses, but I also don't want to waste important people's time... This is a balancing act and I know my consciousness about the problem will allow me to find a solution.

One DG-er and I have been talking in the recent months and we connected yesterday too. I've been helping her to take action and get off the ground. It can feel scary and intimidating, so I hope my advice is helpful

Ready for another productive DAY --- Planning to make LOTS of MLS offers and talk to FSBO peeps as well... Dinner plans tonight with the friends who are marrying us in 3 weeks which means I have a hard stop at 5pm. Update on Insanity: Mid-way through Month 2!!!!! Energy through the ROOF!

Feed the NEED - Give the market what it WANTS!!!