My Journey In Becoming A Billionaire

Found another wholesaler deal in hollywood which is in broward county in my email. I contacted the seller . I will do my numbers and if it is a good deal I will put the house under contract today.

2) call up some cash buyers on my list who I didnt remember to blast out my deal which I got under contract earlier. I called on this one guy Nissan and I gave him him the address and he was like he is going to check out the property this afternoon. A couple of mins later he called me back and was like is the property in Coconut grove (for those of you from miami you will know where I;m talking about) and I told him no it is in coral gables. He was like how do you have a property and you dont know where your property is located at. I replied back to him saying " I'm the contract holder and I just strated investing in Miami." Then he goes like "Is that area a black community?" I almost busted out laughing lol for real. I was like no sir its not a black community. Hopefully he likes it and get the ball rolling...

3) went on google maps online and type in the zip code of the property which I got under contract and in the search box I typed in WE/buy houses with cash. I found a potential buyer who is an investor. Saw her website and a got her phone number from her website then gave her a call. I told her about my deal in Miami and she seem interested. Told her I'm the contract holder and I ask her if it is a deal for her and she wants to go ahead and buy it she gotta put down $20,000 (cashier's check or cash) upfront and she like ok (she felt comfortable doing that).. ******Still waiting for her to get back to me*********

Such an inspiration for all of us. I love your take charge attitude !!!!!! I wish I lived in a bigger city where there is investor activity and a REIA.

Happy Investing to you Man,
WALT

Thanks for stopping by my REI I'm pretty sure there are a lot of investor activities in your area. I'm just saying

Honestly speaking, When I first started, I had this "fear of unknown" which always tell me "oh Dean strategies doesn't work in Miami" and I didn't take much action in my first two months.

I had to overcome that fear of the unknown I told myself I can do this. That was when I took action and started posting lots of ghost ads on CL and then placed out bandit signs. (3 bed / 2baths must sell fast call now xxx-xxx-xxxx) Ever since then my phone won't stop ringing. lol I wont lie sometimes these phone calls could be overwhelming I try to keep up with them and returning back calls which I missed you know.

Best of luck

I spend most of my time last night to Listen closely to this Conference Call replay (I'm so opportune to have tons of helpful info on this website which can help me elevate me to the top Thanks Dean) http://www.deangraziosi.com/content/conference-call-wednesday-june-29th-...
I jotted down so many great info and here was what I jotted down on my yellow note pad below. I learnt that marketing is the key to success in Real Estate. And I want to implement Joe Jurek technique in my real estate investment business for now upwards.

I went online and searched for estate sales such as furnitures, tv, chairs, couches, lamps, rugs, video games, and anything whatsoever and I have started sending out emails. Here is what I send out below

Hello or good morning/afternoon or evening,

I saw your recent ad on Craigslist for the item you are selling from the estate. I am a real estate investor and not a realtor. I am looking at purchasing more properties. If you happen to have any type of property such as a Single Family Home, Multi-Unit, land, commercial property, I would like the opportunity to discuss with you the terms and condition in which you will consider selling your property.

Thanks for your time.

Best Regards

(my name)
Phone: xxx-xxx-xxxx
(my email)

When they get back to me I already know what to tell them because I saved what Joe Jurek taught us in that conference call in my note pad and in my email draft box

Lets assume I got someone off Craigslist or any free classified website who got a house for sale. here is what i will reply back to them (Well I know I will definitely get a lot of response as soon as I finish blasting out this emails)

Hello,

I appreciate your time getting back to me and I know this might be a time of sorrow but I thank you for time getting back to me (i will use this on case by case basics for example on a pre-foreclosure house you know) I want to create a transaction win/win situation that would work for you and I. Can you tell me a little bit about your house? I take the property with the content AS-IS and you don't need to get back to clean it out.

Thanks for your time.

Then When They Get Back To Me, I will Now Present A Low Offer (after doing my numbers and knowing how much their house is worth) and then justify my offer and i will Be Like:
1) The house needs rehab (if it really does)
2) let them know there a lot of foreclosures around the area
3) Let them know properties or things are moving slow in your area.

Instead of leaving them blank or make them feel offended like Dean taught us in the conference call

I will use Dean technique and be like
Hello,

It sounds like you have another opinion which is fantastic. I'm happy for you. What I would like to do or say is that I would like my email I sent you or the email below to be your back up plan. If the opinion which you have seem not to work, maybe you can call be back. I wish you the best, I hope it works out great for you and I hope you get all that money that you want.

Thanks for your time

Knowledge I Gained!!
1) Visited DG.com and learnt some new techniques
2)Watched this week Dean's weekly wisdom ( I'm still yet to set my 30 days plan)

Actions I Took
1) Called up this company which has 148 properties in Miami alone and spoke with like the person in control. I got his criteria and his contact info and we good to go. (added the company to my buyers list)
2) Received a message from the seller that the owner of the deal which I locked up, backed out of the deal. I told my agent what happened and he called the listing to confirm. The listing agent told my agent that the seller realizes they were selling it cheap and they want to do all the repairs themselves and sell the house together with other houses they got in bulk. Well to me everything works together for good. I made a lot of mistake on this deal such as showing the contract between me and the seller to my first end buyer. The both parties knew how much my profit was going to be. But at the same I learnt a lot from this deal.
One of the things which I learnt from this deal are as follows
1) Never assign a contract when my profit is more than $20k (Rule of thumb lol)
2) If I'm going to assign the contract I must request my end buyer to give me a cashier check or cash up of my assignment fee upfront before I present the contract and the assignment of contract to him/her.
3) Double close (dry closing preferably) it if my profit if more than $20k

Great job!

You are a great student! You must take notes.

Karen

I appreciate you helping me out pointing out the costly mistakes which I did. I learnt alot from that

Best Of Luck:)

It looks like you are just about there with a deal !!

Thanks for stopping by to show some love on my journal. We got this!

Right now I'm focusing on wholesaling other wholesalers deal and putting my fee on top. you know how to do that right? First off, I gotta make show the numbers are right so i dont just present any type of deal to my buyers before they hate me for that lol (not every deal is good deal like they always say)

Also my agent and I who is back to Dominican Republic are targeting expired listings and 90 days old rentals and fsbo.

Best of Luck

I love the new pics you have on your bio!!! Very professional looking. Wonder why they aren't on this when you post?

Karen

When I put them up at first I thought the pics were going to zoom in so my face could show more like the current pic which I got now. I had to remove it but I'm about to upload the pic back up.

Sorry folks I have been so busy investing in Real Estate.

I can't believe it's been up to 5 months plus I joined DG.com. Even though I haven't closed on my first deal yet. I know my first deal is coming soon. Its all matter of time. I will never give up. Yesterday I posted up ghost ads under "real estate wanted" for potential L/O seller. I'm working on a property I wouldn't call it a deal because the seller and I are still negotiating on the final price. There lots of tenant buyers out here in Miami.

The responses which I got from my ghost ad were REA. SOme of them are already cooperating with me. I plan on sending out mass emails to rental ads on www. padmapper.com and roomster.com tonight. I learnt that marketing in real estate is another key to success.

Will keep you guys updated

Keep doing whatever you are doing persistently and your deal will happen.

I am also waiting for my first breakthrough and I know it will happen.
Keep your eyes and mind on your goal and anything in between is just means to get to your goal and will fall in place if you have clear vision of your goal. start out small so as not to overwhelm yourself.

Bimal

Thanks for stopping by. I appreciate your positive comment. feel free to stop by anytime.

Best wishes in your investing

knowledge gained
- I visited Dg.com and read some great posts and also jotted down some new techniques

Actions which I took
-Checked my REI email and responded back to the potential lease option buyers off my ghost ad from Craigslist

Here is what I reply back to them when they inquire about the lease option properties. I leant this great tip from Kareng:) I had to tweak it a lor bit

Hello,

Unfortunately the properties which I have right now are all leased out. But I am a Real Estate Investor, so I get other properties very often and am anticipating to have more in just the next few weeks. What exactly are you looking for? That way I can look for something that fits your criteria

- Area of Interest (zip code if preferred)
- # of Bedroom
- # of Bathroom
- What type of house do you want (single family, condo, or townhouse)
- What is the maximum monthly payment you feel comfortable with?
- What is the maximum down payment that you have?
- How soon can you move in?
- Your Name
- Phone number
- email
- Do you have a job and how long have you been there?

Thanks for your time and I look forward to working with you

(my name)

When they get back to me with what I requested for, here is what I reply to them

Hello,

I appreciate you getting back to me.

I will get back in touch with you as soon as I have something that will fit what you are looking for.

Thanks for your time

(my name)

my favorite quote for today "You are never too old or too young to start investing."- Wendy Patton

Knowledge which I gained
1) Visited DG.com which is like my bible in REI

2) Jotted down some tips which I learnt from coach Dwall in my yellow note pad on how to using REI clubs and AOA (apartment owners association) to add cash buyers to my list.

Here is an example: before I go I will make sure to call up the contact person to verify on the future meetings is really up to date then ask if they can waive their attendance fee for first time visitors.

When I go to these meetings I will sure I get a lot of business cards from people and let them know I'm new to investing in this area and looking for a couple of experienced investors that I call if I need a quick answer to a question, and would be like would they be interested to be one of those few people.

Then, I will now contact them in the next couple of days to refresh their memory and remind them we had met at REIA meeting. I will be like do you have a few mins for? If they do, I will be like I have a special program for busy investors like you called "properties to order" when I can shop for and place properties under contract only if they match what they are looking for. This focused and exclusive program simply requires that you tell me precisely what you are looking for.

I can't wait to start using this technique

The Major Actions which I took

1) I went to wells Fargo bank which is close to my school and met up with a mortgage broker. I told her I'm a RE investor who just started investing in the area. I told her I have a couple properties in the area. I was like I have special program "lease to own" to people who can't qualify for a mortgage due to not have sufficient credit history. She ask me what was my interest rate and I was like I don't have one which is good for these people. She told she can refer me to a couple of people from a realtor she knows and also from a list she got.
I got her business card. I didn't have my business card with me so I had to write down my name, email and phone on a piece of paper and gave it to her. I told her I will pay her $2k for each transaction just to show my appreciation and she was like "oh no I don't need to that and also she wouldn't accept it" she was like she is just doing it just because she can. I will be emailing her today to refresh her memory of the things we spoke about.

Hey guys I will add more when I get back

my favorite quote for today "you are never too old or too young to start investing."

Knowledge which I gained
1) Watched Deann weekly wisdom
2) Visited DG.com

Actions Steps I took towards my goals
1)I sent out 40 emails to rental ad on padmapper.com which matched my l/0 tenat
buyer criteria

2) Requested my agent to send me a list of expired, vacant, and rental ads which have been on the market for the past 30 days and he did send it to me last night (44 listing all together). I plan on emailing each agent to see if the seller would consider selling in the future if I lease it. (exit strategy l/o)
3) I got 10 responses from my l/o tenant buyer ghost ad on craigslist (2 out of the 10 was an agent who was requested to help me but the funny thing most of these agents do not know how l/o works)

4) I contacted a seller (61 year old lady) who was interested in doing a l/o. she owns a a vacation property off mls sitting on 1.47 acre in Miami 8 bedrooms and 4 bedrooms fully furnished. The property looks updated on the outside in terms of it needs new painting and a good landscape. Then a guest house I bed/1 bath which Her brother has been living there for more than 4 years or so.

The seller asked me what I was going to use do with the property and I told her that I'm an investor and I wouldnt be living in the property and I will be putting in a tenant in there. As soon as I told her that was it.. she was ok with that and she asked me about my company like do I have a partner or something like that and I said yes I do. I was like I got a contractor/handyman who I work with who will be doing the maintenance, landscaping etc. She then was like I dont want tenants who smokes and I was like "the tenants who I am going to be putting in your property are going to be well qualifies and screened and you are also welcome inspect your property anytime you wish but you will have to come through me to arrange it."

She rents out the rooms in the main house (there are currently 4 vacancies in the main house)
Seller rents out each of 3 rooms- $800 per month
each of the remaining 5 rooms- $600 per month
The average utilities fee she paids for the main house(cable, internet, and electricity):- $400 per month
The guest house $1100 per month (the tenant pay for their own utilities)

we have been emailing each other back and forth (building rapport). So she wanted me to call her to we can chat. SO I called her yesterday. I was trying to find her motivation hot button.
Seller told me her dad built the house back since 40 years ago
-Seller leaves out of state
-Seller has a care taker who comes often to do cleaning.
-nobody in her family wanted the house
-She does have money to the minor updating

Seller was asking $4500 monthly and the the purchase price $695,000
the houses surrounding this property has lot of ma
So I asked the seller "how would you like it if take care all the maintenance, repairs, utilities and you don't have to worry about none of that and I pay you $3,500 for 120 months". She was you mean "10 years" and I said yeah and she like no problem.

lol so I remembered this http://www.deangraziosi.com/real-estate-forums/my-deals/149961/4-plex-no... and I was I might as well ask her if she can do more years because of they way she said yeah so quickly without any hesitation in my first offer.
Here is the funny thing I ask her "instead of 10 years I know you are going to live up to 100 years old, how about we do for 30 years she like "you can have the property for the number of years you want it doesn't matter to me. I just want the rent money to take care of my family. I was really surprise and happy:)

Seller wants to see me first in person before the contract starts. She will be coming back to miami between dec 26th - dec 31st

I told my partner about this deal and he like we should look for a tenant buyer. I told him no this is not a tenant buyer type deal.

My plan is to hold on to this property and refinance it. Then I will now build a retirement home on the lot. This deal has so many potential which I can do with it.

The appreciation rate in that area is 2% each year and I found another property less than 1 mile 6 bed/4 bath sitting on 1.86 acres and zillow estimate was $744,486.

I will be emailing her my offer today

Knowledge I gained
1) I visited Dg.com and jotted down some important techniques to use which will definitely help me in my REI business in the long run.

Actions steps I took
1) Got 3 email responses from my ghost ad for l/o tenant buyers (will be folowing up with them today to see if they are some real good potential buyers. Not buyers who got $2k-3k down, I'm looking for tenant buyers who got up to $5k to $25 down or more which is good)
2) Received another lead for l/0 off cl. I will follow up with the seller to see he is open to lease with an option to buy in future
3) Received an email from REA off my l/o seller ghost ad I posted online. He asking me whats my budget, when do I wanna move in and so on (I will be following up with him to let him know what my plan is)
4) Got an email from an agent who I made an offer on a l/o property and the seller doesnt look motivated to me yet. When the seller get motivated and comes back to me in future, I will tell her I ended up buying more properties right now. I will now make a low offer lower than my initial first offer.
5) Got another l/o lead from a property manager who responeded back my email which I sent out to rental ads which matched my tenant buyers criteria . He told me I should call him. I will be calling him today.

Knowledge I gained today

1) Visited DG.com which like I said before has been like my bible in my REI business
2) listened to http://www.deangraziosi.com/content/upcoming-conference-call-thursday-ma... and jotted down Grey for getting Tenant Buyers

Actions Which I took towards my goals
1) I called the seller lead who emailed me yesterday. So i was like Hi, I'm calling about your rental house that you had emailed me. Am I speaking with the right person? yes was liek I'm the owner. then I was like Well, I know what it says in your ad, can you tell me a little more about the house? I let him to pour out his heart lol and kept on talking.
At the conclusion, I was like : "Wow, it sounds like a nice property, just what we are looking for. There is one important thing for me, though, and that is that I would ALSO like to purchase this property, maybe sometime in the future. Have you ever considered selling down the road? he was like No. So I ask him is he looking to purchase more rental properties so I can see if I can add him to my buyers list he was like No I just bought this property and I;m not looking to sell it in future or buy another one. So I was ok that good thank you for your time.
2) I emailed the l/o seller who owns more than 1 acre property and I was like "Good morning, I'm still interested but my partner and I are trying to make sure that I can make it work. I will get back with you in a couple of days.
Thanks."
I woulnt rush on this deal like Kareng and Val advised me. I gotta make sure I do my due diligence thoroughly.
3) Called a property manager l/o lead and I told her my plan and she said the seller might consider selling it in future. she will call the seller and she will mr back today or i will follow up with her in case she forgets
4) Got an email from a San Diego agent (who got buyers) who wanted to see if I got new inventory. Well instead of ignoring her email since I'm no longer investing In San Diego (ONLY in miami area is where I'm investing) I told her Not yet, I will get back in touch with her as soon as I have something that will fit what you are looking for.
5) Got an email reply form the 1 acre l/o seller she was like "ok no worries thanks"
6) Found a mls l/o lead on zillow. I call up the agent and he told me the seller is willing to hold the mortgage note. agent told me he will get in contact with seller and follow up back with me. Couple of mins later he had emailed me saying The seller said he would rather sell than do a lease with an option to buy. So he will finance the down payment for the loan and hold a 2nd.

I WILL BE BACK WITH MORE UPDATES SOON FOLKS

Knowledge
1) visited DG.com to get more momentum. like I told you guys this website is like my bible in my business
I learnt some new techniques to add to the ones which I'm already using in my REI business.

Actions
1) Honestly speaking since I joined I have been battling this "FEAR OF UNKOWN" and I'm glad I was able to overcome that fear because I can do all this through Chris who straightens me. I search online reiclubs.com and meetup.com and was able to jot down three big real estate investment clubs info in miami area. To my surprise 1 of them is close to my school.
2) Posted 45 ghost ads for l/o tenant buyers and sellers on CL (I'm fired up to take my REI business to a entire new level)
3) Actually I spent half of my day at the mall close to where I stay applying for a job. The job which I applied for was like a early job where I have to come in like 3am and leave like 2 pm or 6pm - 11pm shift. The reason I choose that is to have time like in the morning to go to the auction and put some cash buyers to my least and have time to go to REIA. and AOA meetings...
4) got 3 three responses via email from my ghost ad for l/o tenant buyers. will be following up with them today to see if they are some potential ones. One of them told he/she is moving from NY to Miami jan 1st. (lets see how it goes)
5) As I was walking to the mall where I applied for a job I saw two condo units which are right next to each other. I noticed the condo looks empty and no one was living there. I wrote down the area in my memo and I will go back there this weekend to research more about these condos and take own the address (I will check if they are bank owed or not). Also I found a potential vacant lot close to the mall and the lot size is 140,000 square ft. An agent put up a sign saying owner financing available. I will call up builders and developers in miami area and get their criteria. Hopefully their criteria will match this big vacant lot which I found.
6) Still while I was waling to the mall, I saw a sign which says development, construction, investment, property management and right next to he sign was a 5 story building. This was like around 6pm or something like that. SO I saw a man walking out or the building and I asked him is this an investment company he told me yes. He works for the IT department and he was like the main office is on the 5th floor. I will google the company name and call them up to see if I can put them in my buyers list.
7) I was in school telling people I'm an investor and I got this dude who told me he transferred from university of miami to my school. I started building rapport with him and he told me that his father and mother divorced and his mother went back to chile. So him and his father has been living in the big house like he described. He told me they want to rent it out and I down size to a smaller house. I got down his contact info and the address of the house.

People start to slow down now,
Like you I haven't done a deal yet, but everyday I am spending two hours on RE related matters.

So you still have many days left to male a deal before the year end.

I wish you power and greatest luck so you can atleast make ab deal.

Go get it.

Bimal

you will make it , you have the heart, this is just a lesson to learn from ,thanks for sharing

Thanks for stopping by to show some love on my daily REI business journal. It meant alot for real.

Yup you right. I got a lot of gas in my tank and I have doubled up my speed to the highest gear. What I mean is like I'm fired I'm never going to slow down like others on the sideline.

Goodluck in your REI journey

Its such a delight to have you on my journal. I appreciate your positive comments. I don't regret any of my mistakes which I have made in my REI business. My mistakes has elevated me to the top and I have been able to gain more knowledge way more than I had before. How is your investing going?

Knowledge Gained
--Visited Dg.com and read some great post
Actions I took
--I spend almost half of my day at the mall close to where I stay applying for jobs.
--watched Dean live cast presentation like half of it (I was actually late catching up with the webcast)
--Received 11 responses via email off my ghost ads for both l/o buyers and sellers
--Emailed the responses I get their criteria

Knowledge Gained
---Visited Dg.com and read some great post and jotted down new techniques to use.

Actions I took
---Login into CL and noticed my ghost ads are waiting for me to renew them so I waited on till 12 midnight and renewed 40 ghost ads..so
---Called one of my l/o seller who owned an a property on acre. I told her I wanted to get some more info/due diligence. The tenants are short terms (month to month), besides are brother who lives there for almost 4 years but all the tenants are month to month. I asked her for the copies of the utility, sewage, gas and she told me that she uses septic tank not sewage, electricity not gas. I told her email the copies of the utilities but she hasn't done it yet. This property does not look like a deal to me. I'm onto the NEXT ONE
---GOt 6 responses from my ghost ads via email and i emailed them to get their criteria

Knowledge Gained
--Visited Dg.coma and read some great journals and posts

ACTIONS I TOOK
1) Posted more ghost ads for tenants buyers
Subject: RENT TO OWN
3 bed / 2 bath
Rent To Own
Bad Credit OK!
Email me NOW I'm Not A REALTOR!

Well saturday was like a day off for me. I had to play basketball in my school (lol trust me I'm good) and then after that I went the swimming pool to relax.

--Got five responses from off my ghost ad via email.
- One of them was agent who I had sent him the criteria of my l/o tenant buyer and he sent me 4 listings. I will be talking a look at it tonight and send him my proposal offer.
--One was a seller who ask if I was going to be interested in his condo. The condo has a restriction which is that it is a 55+ community. Seller had called me in the morning and ask if I was over 55 and I told him no but my partner is over 55 years. I told him let me talk to my partner to see to see how we can work it out and I will get bacck to him in a couple of days

TC,

You have gained great momentum, hope to see a deal happen soon.
Let not a small hurdle stop you.

All the best.

Regards,
Bimal

Thanks for stopping to show your support. I appreciate it your words of encouragement.

Yes and I ca't wait to share my success stories soon. Its all matter of time.

Goodluck in REI journey

Knowledge I gained..
1) Watched Dean weekly wisdom for this week. It gave me lots of positive energy.
2) Visited DG.com and read some great post. Actually I learnt some new techniques which I added to the one which I'm ready using.

ACTIONS I did.
I took alot of actions this week in my REI business. I would share some of the actions which I took and can remember.
-- Got 6 response leads via email off my ghost ad for sellers which I placed on craigslist
-- Got 43 response leads via email off my ghost ad for sellers which I placed on craglist
-- found a garage sale yesterday. I will check on the public record today and research on the owner and call them up or walk to the house since it kinda close to my school.
--Email an owner fiancing mobile home I found on ebay online
--made an offer on another wholesaler buy and hold deal and sent it my buyer. This is a buyer who told me he wants buy and hold and looking to buy and flip. He told me there's not enough room for him to make profit.
---Got an email from one of my buyers checkin up on me to see if I got more deals
--GOt some listings which matched my buyers criteria and I will be following with these properties this weekend.
---Got an email from a CA agent of wholesaler investor. she was asking is I got any deals. I said no (meanwhile I'm not even investing in CA anymore, I was before but I stopped. I'm only focused in my backyard area lol meaning I'm focused only in miami area)
--I went online on CL and http://www.searchtempest.com/ sent out 97 emails to estate sales such as furniture, electronic etc here was my email I sent out to these people Hello, I saw your recent ad on Craigslist for the item you are selling from the estate. I'm an investor not a realtor. I'm looking at purchasing more properties. If you happen to have any type of properties that may be a listed a single family house, multi unit, land, commercial property, I would like the opportunity to discuss with you the terms and conditions you will consider selling the property. Thanks for your time
--Got 1 response out of the 97 emails which I sent out to the estate sales and he was a realtor. I will be following up with him this weekend.
---I sent my partner/agent my buyers criteria so he can pull up listings for me from mls. I emailed him to follow up. He got back to me via email talking about no luck yet. Well I feel like his not hungry to make money and I not going to condole his lazy attitude. I will still the relationship which we have open and just work with the other agents who I have on my team.
---Sent an email to my seller letting him know I will follow up with after I talk to my partner in the next couple of days.
---Received an email from a top user on dg.com showing a sample on how I need to make my two REI business cards to look like

ACTIONS I DIDN'T TAKE THIS WEEK AND I NEED TO WORK ON to IMPROVE MY REI BUSINESS
--Put in more offers
--Send out more emails to listings online.
--Search for fsbo on CL, zillow and other free classified ads
--Follow up with sellers on my list

WILL KEEP YOU GUYS UPDATES AND ENJOY YOUR WEEKEND