Young Neo's Journey to Success!

So I spent 3 hours last night placing over 40 bandit signs around my city in some of the busiest stop lights and shopping areas. I'm kind of nervous because even though I have read Deans Profit from Real Estate RIGHT NOW book, this will be my first time being in the situation to negotiate deals. Can anybody with experience in Bandit signs tell me what the city/police think of bandit signs? I got a looooot of funny looks

Regardless, I put so many signs out that I'm sure somebody won't spend their time digging them allllll up haha :] If anybody has something they would like to add about bandit signs or FSBO's please let me know!

On a side note, I read Matt's post about $100k in a year....he said that it can be done in a month, I want to hit in between and get it done by the end of THIS year. I want to earn $100,000 by the end of this year. So, mathematically at least, it seems like I'll have to put in about 450 offers by the end of the year in order to reach my goal. LETS DO IT! Time to have a good day

Lesson: ALWAYS HAVE A SENSE OF URGENCY!!!

So I have gone through like 6 realtors now and NONE of them have worked out. Fortunately it's hard to throw a stick in Dallas without hitting a realtor so there was no worries. This gentleman I found last week named Eric brought me two deals on Tuesday that he asked me to check out. I got the Comps/CMA's on Thursday and I decided to wait to assess them because I didn't confident enough in myself yet. AKA, I PROCRASTINATED. I didnt look at them until Friday night, then I procrastinated some more because I was afraid of how to calculate an offer price and ended up spending most of Friday working on my Bandit signs. Because of fear and doubt I chose not to run the numbers until today. So I decided to get it done this morning (saturday) and go check out the properties. Shortly after I got myself all excited and what not because we were about to meet and I knew I had a great deal, I found out that BOTH of the proeprties were put on contract LAST NIGHT.

So the lesson is....DON'T WAIT, you will most likely never feel confident doing something until you actually DO IT. Running around putting bandit signs at first feels scary, now I would walk out in broad daylight and drop signs. Calling realtors at first was scary for me, now I'll talk to anybody and ask them to bring me a list of properties. In this situation......I was worried that I wouldn't run the numbers right and I would make a bad offer, but now that I went through that process I am confident that every deal that comes my way I will screen IMMEDIATELY.

So with that said....ON TO THE NEXT ONE!

It is nice to hear that you are actually doing it! Let me know how things turn out. If you come across any more commercial deals as we spoke earlier, please let me know. I have yet to go through and reply through all my e-mails I received yesterday. I see them all in my phone. I also have to go through my phone messages from replies that I received on Classified ads. That is what most of my time has been for the last 24 hours. am sure that you will soon get that point when you received the phone calls from your bandid signs. I am very proud of you for sticking out and following though. ACTION!!!! ACTION is what you did and ACTION is what you will deliver. We are all here to support you and solute you for that is the hardest step to get past. You will do just fine. Be patient and do not panic like I did. WONDERFUL!!!!!!!!!

So far, I just read two e-mails from commercial and residential investors who deal with CASH only. ONe on which we have already inter-exchanged communication on. The other are multiple connections of nationwide investor that handle multiple deals at one time just as long as they are direct and off the market. They deal with assets, REO's and notes. They are looking for multi family and single family notes. Every single one of them are cash buyers.

Their Criteria for FM assets are: distressed, class C, 50-500 units, low occupancy and in South East area. The same for notes and REO's. Single family can be any where in the Country. Their typical investment is b/w $1 and $10 million dollars.

So if you come across anyone who may fit to mach this criteria please let me know. If you find anyone who may be a shell of MF property ANYWHERE IN THE COUNTRY and it is off the market they will spend much more than $10.

Please PM when you come across any contacts

Vida -

Again... please keep me posted on your response to your bandid signs.

So through building a relationship with a gentleman that I met at a networking event here in Dallas I was invited to a private ground breaking for an apartment complex a few hours away from my home. I went and was introduced to several very powerful capital investors. The gentleman I met at the networking introduced to them and edified me so much that these investors, who are aware that I am fairly new, said "We see your energy and passion that you have for what your doing. Please do not hesitate to give any of us a call when you are ready to buy your own properties." I AM SO PUMPED UP!

Now I have even more motivation to make my first $100,000 this year. I know that when I am ready for higher dollar acquisitions, they will back me up. My intention tomorrow is to find 6 more real estate agents that can start sending me deals. According to Matts numbers I need to submit 450 offers.... So with a total of 8 realtors submitting less than 10 offers for me per week, I will reach my goal! I'm so thankful to be surrounded by people who believe in me.

The best advice that I have been ever heard. "Act as if it's impossible to fail. If your attitude is strong enough to over come all obstacles, your desire is strong enough to seek growth, and you take MASSIVE IMMEDIATE ACTION, then nothing can stop you."

So I'm still pushing forward here in Dallas. I have my cash buyers looking for deals and I have just been raising an army of real estate agents to hunt for different types of deals for me. So far I have 2 very promising people, one gentleman has already proved he knows what to look for in a deal and the other is working diligently to find something.

I got out of my comfort zone and drove an hour into the country towards the Sherman area (pretty much oklahoma) to go to an event. I am so thankful I went! I made some great new friends are looking for rental properties, buy in cash, and only care about making $250-300 cash flow on each property. (easy criteria for my next coming agents), in addition to that they have alerted me to a HIGHLY distressed apartment complex that they said is at a crazy deep discount. I'm going to collect the information for it today and then have a chat with the gentleman who had a ground breaking last week for his latest apartment complex.

I have a busy schedule this week! Pumped up and excited to close my first deal.

Hi Neo. When I read of your drive "into the country towards Sherman area", I couldn't help but chuckle. I graduated from Denison High School over 30 years ago. (hahahaha) Anyways, high-5 for your goals and actions already taken. I'm looking forward to reading of your success'.

Carl

Thank you! Do you still stay out by that area? If so shoot me a PM I have some stuff that looks like it could be good but I need to focus on the North Dallas region. I would love to partner.

So today has been ACTION PACKED! My last bandit sign campaign was pretty miserable, out of the 50 signs that I put out 47 of them got picked up. I have new signs on the way that should be here by Friday.

I sat down with a gentleman I met today at a networking event last week that's a commercial lender and investor. He told me that he wants 6 properties 3/2 within the next two weeks within 3 cities. he already has buyers lined up for them. And he is also working on approving me for a $20,000 loan! (fix/flip monayyy) In addition to that because of the relationship that I built with him he showed me how I can take that $20,000 and turn it into $200,000 by the end of the year (networking works!)

The second meeting I had today was with a gentleman who is currently in the middle of a 200 package deal with a bank. A family member of his has a strong bank contact and he does not quite know how to close the deal. Using the stuff I learned from DG and from the people on my power team I developed a plan on how we can get this deal under contract within the next 30-45 days. I sent him out a non disclosure agreement today so we can get the ball rolling. With all these houses at 25 cents on the dollar I know that I will bring in a PHAT check from the co-wholesale and flipping a few myself (raising private capital from other networking partners)

I received some information another apartment complex today (32 units in Sherman TX) and it seems like it may be a winner. It DEFINITELY needs a lot of rehab work but it's right across the street from a school. I'm not sure I am quite prepared to make the dive into commercial with such a distressed property so I may just wholesale it, should that go through I know I would want $30-50k on it.

I've also got something MAJOR in the works that I can't even talk about yet, but once i get more rolling on it I will be happy to share with the DG crowd. My intention was to make $100k this year but by the way that things look I could earn that in passive income alone (it was an opportunity that came from a powerful contact I met at high-end cigar bar)

I am so excited about everything that is happening right now, I am SO SO close to opening the floodgates to real estate investment success. I wish I could say that everything is going AMAZING but I have many hardships I'm facing as well. I got fired from my job about a month ago and after some major unexpected expenses I am left with less than 30 days of savings. Sooooo it's time for the rubber to meet the road and for me to take MASSIVE IMMEDIATE ACTION...and pray. Wish me luck gang. I have no choice but to succeed. That's it, period!

So I have finally found an agent who gets what investors are looking for. He has sent me 3 awesome potential deals and I have given him prices to submit offers for. He asked me what my "closing date" will be ...but if I intend to wholesale them, I have no idea what day to put as closing. They are all foreclosures and I'm worried that if I put too high a closing date they will reject. Any thoughts?

So I found an AMAZING deal. It is a foreclosure that I have negotiated wayyy below listing price. It is in a highly sought after neighborhood with a Golf course and a park. The house has an ARV of at least $550k and I am getting it on contract for $340k and they are paying closing costs. The kicker is that it only needs less than $35k worth of work. To be conservative I have ran my numbers with $50k and using Dean's %15 off ARV technique to account for Realtors, Closing, Ease of Sale, and Holding Costs, the profits are still well over $70,000+.

The issue ....I need $4000 earnest money by Monday. O_o. I have found a partner here in Dallas who is willing to use his experience and credit in order to take down the hard-money loan for purchase and rehab. As well as very experienced contractors that specialize in higher end homes who are giving me their estimates for the renovations.

This is a great opportunity to connect with the DG family. Im looking for somebody who invests and can spot a good deal when they see it. I can verify all this information with proper documentation. Please send me a message here on DG.com to discuss specifics. I cannot discuss returns due to SEC, please keep in mind that there is a wide spread in the profits. I am very flexible.

I have been calling contacts that I have been making while networking and I found somebody who is putting up the cash for the Earnest Money. I should be getting the contracts in 30 minutes should the bank accept everything. I cannot wait!

In the mean time there are 8 other properties I have on my desk to look at...From what I've seen so far 5 of them are potential deals. Will hopefully be able to submit offers by the end of today or tomorrow morning.