OfflineJuly 14, 2009 the day I went Pro ! ? !
For a few years now I have wanted to be apart of the real estate world as a investor and a landlord. To reach this goal I have completed several home study courses taking something from each. I feel that I have quite a bit of information but have failed to succeed do to lack of commitment to action. The one thing I can guarantee you must have to succeed in real estate is a commitment to action.
I was brought up working middle class and have known the stability and comfort of a good job. Well the last couple years have not been so stable so I needed to make a change. That is when I started to become interested in real estate, and started dreaming the real estate dream.
The first couple of years hurt my situation by buying into a program that just was not a good fit especially at that time. My consumer spending had made my income to debt ratio unacceptable. The mentoring program that I joined pushed my credit card to the limit and the mentor was going to show me the awesome tool of credit card debt as short term investment capital. What could I say "thanks that's great". Time to get serious.
I started studying for my Real Estate Sales Person License about a year and a half ago. Just about the time I purchased the first set of materials from Dean. I have now obtained my license and now have a desk at a large nationally recognized firm.
As a license my goal is to help others and learn the industry inside out. I believe what goes around comes around, so if I'm truly helpful to others I will be rewarded for it. The knowledge and resources that I gain will ultimately benefit my investments and working as a agent will satisfy my working class upbringing.
Friday: Requested viewings on Four properties. Found 3 advertisements for lenders offering higher LTV and or stated income for self employed. Opened a Craig's list account.
Saturday morning: Down loaded info on 10 Multi family properties in my area. Pondered situation. Consumer debt taking up all available income (hope I learn not to buy toys and have fun on credit). Idea formulation; locate and find financing for rental with or enough equity to roll consumer debt into loan on rental, with incoming rents covering loan taxes and deposit into reserve account for maintenance. " HOME RUN!!!!!"
Sunday Day of rest: The way things are in my life every day is a work day and the Sabbath day of rest and thanks. I need to work to sharpen my skills and look for my opportunities every day, but stop a moment to rest my soul and be thankful for what I do have.
Spent several hours trying to familiarize myself with this site. Hopefully this will help me develop networking skills. Think I'll spend some time today thinking about what to put in a "bird dog add".
Congratulations on the action you've taken so far!
And thanks for the reminder to rest the 7th day and remember what it's for.
Keep posting your progress. It's nice to look back from time to time and see how far you've come.
God bless,
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Monday: Monday Monday , REI and wood splitting. Located contact info for 6 more possible lenders, need to contact and shake the list out. Worked on bird dog add, tried to submit to Craig's list but could not phone verify account due to having dialup. Their system calls with a verification code that you need to enter while still on page and online. Waiting for tech support. Answered dg site classified add for note sellers, maybe I'll post my add on site.
Tuesday: More lenders and properties downloaded , Plenty now. Will contact broker tomorrow ask questions about working for him and investing as well as if he wants to show me the properties I am looking at. Next task will be to start to qualify or disqualify my lender list.
Posted Bird dog add on DG site classifieds. Started Networking topic specific for my area in forums.
Down loaded local REI club info from meetup.com.
No get back from Craig's list
Wednesday: Got Craig's list account opened(need phone verify to post real Estate add and I have dial can't do both)
Placed Bird Dog add and received response with in an hour. See how it pans out. Spending a lot of time on line pooling recourses need to utilize.
Feels like it is getting close need to line up a title co. to handle my trans actions.
Thursday and Friday: Inquired with advertiser for buying homes on Thursday. No response from the bird dog inquiry or from my info request from the home buyers.
Monday: Down loaded new property leads. No response to Bird Dog adds. Need to create another add to run Bird Dog adds in multiple areas on Craig's list with out duplication. Studied for RE license test, need to get out of way. Still need to qualify full hard money lender list. Discouraged by qualifications needed by lenders. Need to work on lender appeal.
Tuesday: Created another bird dog add will rotate with other add on Craig's list. Researched info in properties coming to foreclosure sale soon. I think I'll stand on the court house steps and look for investors/partners/buyers.
Wednesday and Thursday morning: Placed new add in Craig's list wed night received response. Responded to add response this morning requesting requirements.
Monday and Tuesday: back at it on Monday computer time, organize organize. Set up filing system information was getting out of control.
Tuesday Phone contact with cash investor great conversation, first time is now over. Need to ramp up in investors area of interest, what I had available to pass over not quite up to investors requirements.
During the last week been very busy. Took new part time job to help reduce consumer debt. Extra work is cutting into study time and putting pressure on goal for licensing.
Looked at financing strategies, like the idea of Private Lenders and setting terms.
Spending more time in investors area of interest, on market trends and opportunities.
Hi,
I really love that you have kept coming back here every few days to update your progress. I had the wind taken out of my sails recently, dragged down by weak responses to ads, replies that never go anywhere. I am a little uplifted to see that you keep plugging away.
Keep at it and keep posting.
Angela
It's uplifting to have someone notice your efforts I appreciate it I was needing the lift. The response to my adds have been weak but has delivered some hope. I see the deal makers pointing out things like it is a numbers game, and the successful often go from failure to failure before succeeding. I think it is important for us both to just keep at it, success will come. The more you do something the better you get, eventually it has to work out.
Thanks again for the comment, Jimmy.
Tuesday: Created business card for net working; contact info, my interests, with a line on the back addressed to each to FSOB, Private Lenders and Partners. Reposted "Bird Dog" add and received a response in 20 minutes responded back. Keeping at it, the numbers game.
Wednesday: Worked on network expansion joined several local and semi local groups. Made commitments to press the flesh, real live in person networking. Found groups thru meetup.com. Located several traditional REI clubs, decided to try making a few meetings.
Last few days worked new job. Monday studied for licensing. Test date request deadline next few days trying to concentrate on making it.
Tuesday: studying, updated Craig's list add. Called response from properties wanted add left message. More studying.
Tuesday night: talked to Seller from add response, that first is over. Researched comps in sellers area
Wednesday: Responded to Buyer responses from adds, no deal yet. The more people you talk to the greater the chance of a sucsess.
Thursday and Friday: Unsuccessfully tried to contact Investor to match up to short sale.
Saturday: Spoke with investor, he will send some information. Seemed interested in teaser info on property. Need way to deliver info and protect bird dog fee. Promissory note maybe.
Promissory note definitely!
Hi Holez,
I have been trying to get someone I met online to guarantee fee in advance, for a successful deal of course. I just keep being told to just send the addresses and I will get a confirmation email in return! Sure!
If you haven't read it in a while go find Anitarny's thread headed:
How To Be A Bird-Dogger and GET PAID FOR IT!
I actually re-read it this morning. I really like the idea of creating a monthly list and charging a fee for it in advance. Thinking about that.
Angela
Way to go keeping such good records ....I can't do that....I get too caught up in other things, and I prefer to post on things that are Important to me at the time.
Keep it up...
Sam
BUILD your knowledge base....it is your ARSENAL to wage war against disbelief and the negativity of the status quo. You need your weapons......It's your choice whether you carry them or not.
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Build Relationships and open the door to opportunities that could once only be dreamed of......never take those relationships for granted.
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Don't let EXCUSES be the nails that keep you INSIDE the box.
Thanks For the comments. A little attention goes a long way to recharging the batteries.
Sunday and Monday: Searched for Promissory note ideas. Read suggested threads. Need to use lawyer probably. Make use of money spent on lawyer for custom fill in the blank promissory note.
Tuesday: Talked with short sale investor, working on deal. Working on 5 year old 4 bed 3 bath at approximately 1/2 of original sale. Updated adds. Plan to work more on promisory note and study for licensing test.
I was wondering when are you schedule to take your RE exam? I am doing the same thing, I take mine next week, I'm very nervous!
Set a goal to achieve something that is so big, so exhilarating that it excites you and scares you at the same time. It must be a goal that is so appealing, so much in line with your spiritual core that you can't get it out of your mind. If you do not get chills when you set a goal, you're not setting big enough goals." (BO Sundberg)
Vicky Diaz
The last week: Communicated with RE Investor about requirements, Short sale slipping away. Hard to generate enthusiasm with investors so many houses on market as REO or short sale. Newer houses on market for half of what sold for several years ago new.
Studying for license slow going new job killing study time and enthusiasm. Up side holding on with bills instead of slipping. No responses from adds in a couple of weeks.
Need to get re excited its a numbers game and I haven't put up the numbers yet.
Still here still at it: Studying for the test, made it to the end of the book. Not spending much time on line less than a hour a week, concentrating on test. Need to get over year long hurdle.
Hi Holez,
Hang in there. Your test is a priority for you and I will be looking forward to you writing in your Journal more regularly when you have the time.
"holding on with bills" good for you man, so many people cannot do that these days!
I have great faith in you, once you pass your RE test, will you be my agent on the West Coast? (I live on the East Coast, NY) Will you be on my team?
Angela
Monday: Requested test application package for DRE licensing exam. All my energizes still going into studying for test and trying to cover bills. Need to set aside some time this week to update adds. Watching prices drop in my area, not a lot of buying going on to buoy prices.
Sure Angela, I would love to work with you, I would be happy to work any of the Deanites. I believe if you help others succeed then your success will come aswell.
Wow hard month, can it have anything to do with tax month. Property tax and income tax, getting loans together to cover. I feel like I'm being crushed with debt. I'm sure once I clear my consumer debt I'll feel better about having credit work for me instead letting it take over. Sending for county docs to submit application for license not here yet (poor planning). Feel good about tacking test and think DRE license number in adds will do good, lends sense of accountability.