OfflineHi everyone,
This is my third try at becoming a Real Estate Investor. I know what I need to do. It's just so hard to except that I can do it. I wrote down my whys again last night. I reviewed my 30 day goals and my year end goal. They all seem to be in line with what I'm trying to accomplish. I liked the comment in Dean's book about all goals must be mandatory. Something I never considered when writing them down in the past. Feel free to ask me where I'm at in the process. I need some accountability.
Talk soon, Rick
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good going in taking action i like your hiring interns etc. excellent, i havn't even done that. only thing is i would be more realstic on your goal of 10 deals & 50k in october, is it possible yes probable no.
So I would put more of a goal to do 1 deal 2 at the most & making 5k alright. we don't want to write goals that are unreachable. we want SMART GOALS, 1)SPECIFIC 2)MEASUREABLE 3)ATTAINABLE 4)REALISTIC
Tony
Go faster do more! GFDM!
Thank's Tony I'll be happy with 5k. Just to get my first deal done would be GREAT! I'm thinking here in So Cal, 1 deal could hit 50k. My statement when I look in the mirror each morning is, "10 deals in 10 days - October Blitz." When that happens (probably not in October or 2014), I expect our team to have a big party.
So I would put more of a goal to do 1 deal 2 at the most & making 5k alright. we don't want to write goals that are unreachable. we want SMART GOALS, 1)SPECIFIC 2)MEASUREABLE 3)ATTAINABLE 4)REALISTIC
Hi Rick
Just wanted to pass on what worked best for me to help me become a full time investor. I wrote up my goals on one sheet of paper and on to others I wrote my mission statement and too do list (long term). I can't tell you how many times I have marked them off and had to do the list over. I put all of them up on my bathroom wall. It will make you read them everyday twice!!! Try it because it works. NOW GO GET SOME
Not having a goal is worse than not setting one..
http://www.deangraziosi.com/real-estate-forums/investing-journals/92139/... -
http://www.deansmedia.com/play.php?vid=266
Hi Rick! Just read through your jounral - good read. How's the October Blitz on wholesaling coming along?
- Tom
- Tom
Hi Tom,
1. I've attended 5 REI meetings in my area. My wife attended 2 with me.
2. Spent 1 day making calls for cash buyers with my son in-law reviewing how we find these people with him.
3. Added 5 new cash buyers to my list. Four of them wholesalers who can pass my deals through to their buyers. One is a Realtor who has multiple cash buyers.
4. Found 3 funding sources for if I fix and flip instead of wholesale.
5. Ran numbers on 3 separate deals that went into escrow before I could place the offer. Things moving fast here in LA.
6. Spent 2 days calling REO departments of small community banks and credit unions speaking with 2 department heads. No deals currently. Three connections made total.
7. Reviewed properties on Freddy Mac’s website in my target area.
8. Reviewed several properties that had price reductions from Zillow alerts in my target area.
No inquiries from any of our postings for college interns. We may need to change the listing a bit.
It seems like I would have accomplished more. October isn't over yet.
Rick
Great to hear Rick and keep us posted - good luck!
- Tom
Hi Rick it sounds like you are working hard. Keep going Never give up!
"Don't tell me I can't, Tell me how I can."
Happy New Year Rick! Any updates to your journal? Best wishes for a great 2015,
- Tom
We all do a wonderful deed by acknowledging each other. A priority is to build relationships in any industry. I will continue to post updates in my journal as well.
Thank you Rick, for the inspiration to share progress.
~Kra-Z Lanita
I've made a lot of progress.
I found a lot of areas I can improve.
I'm working on the following:
1. I've created a budget to pay off past debt.
2. Bought a FileMaker Pro Database to help organize my buyers and track my investments.
3. Started studying note investing because it's an area my wife is interested in and familiar with.
It also gives us a chance to help people stay in their home which is something I'm looking forward to.
Rick
I've registered with a bunch of hedge funds that sell one-off Non Performing Real Estate Notes. I've created a database that will identify properties that fit my purchase model, track due diligence, and show the projected profits. I have an investor who's agreed to JV with me. I should have 4 or 5 RE notes purchased by the end of May. My intent is to sell them as re-performing notes around January, 2016 for big profits. I'm told that only happens 40% of the time and may end up having to foreclose and take possession of properties. In that case I will quickly wholesale them, but either way I'm moving forward and pretty excited. In the meantime, I haven't quit my day job.
Hey Rick, it looks like you have been at this awhile. I got side tracked with notes for awhile and I made 6K but it was hard work and I spent $1500 on direct mail.
I found wholesaling junk properties to be 100% easier and faster.
But it takes focus and determination and perseverance.
Some people do well with notes, But I suggest doing something easier and getting paid quicker.
Rando
Rando