OfflineI thought maybe it would be good to do my journal for someone like me (there may already be some out there) who are starting out with no money, no previous experience and no idea what to expect!
I got the book "Profit From Real Estate Right Now!" about a week ago. I read it in 3 days and called the Academy last Friday, 2-27-09. I got my email back this afternoon and following the advice of one of the advisors, I started with Assignment of Contracts Part 1.
I took up 2.5 hours to do a 1 hour course. I also wrote down everything that came up on my screen and even some things that didn't. I filled about 12 or 13 pages of notes I think.
Anyway, I need to backtrack to earlier today. To be honest I was getting very anxious and needed to do something, so I contacted a local RE agent and spoke with her at 10:00 this morning. (I work an 8 to 5 job M-F but they let me take my hour lunch whenever I need it.)
Our meeting did not go super great. Partly because I did not have the knowledge to know what I needed from her and partly because she had no faith in what I was doing. I explained the best I could but that was lacking. She did give me something that was helpful though. She told me there are no rental properties available right now in the town I live in. This gives me the opportunity to get some of those going. But I have no money to put down or anything. We have a lot of oilfield workers coming in to the area so I am surprised that there are no rental properties available.
I live in a little town called Minden in Louisiana. (Up north about 30 - 40 miles east of Shreveport on I-20.) Google says the population is 13,000 but that may be a little high.
Now I came into this with no desire to own rental properties or anything. But now I seem to be changing my mind. I am still leary about renting, but if the market is that hard up, then I can have my pick of renters. And the renter stories on the forums are not all bad, some are quite good acutally.
Back to my original topic, my meeting did not go so great. She said that there was too much competition in town to do what I do. I local appraiser buys properties, there are like 4 local REI's and 3 RE agents along with herself that buy the "super great deals". That put me off a little bit.
I don't think she would be interested in being my RE agent. That brought me to another question. What if I meet with every agent in town and no one wants to work with me? I am very young at 22 and I know that that is a big factor for some people. (He's just a kid and he'll change his mind next week. Dean's people told me that would be a challenge for me. I told them that I didn't care and I don't.
Anyway, that was my first day of action. That and driving around town looking at the for sale signs and wishing I knew where to go from there. It's ok though, I know the knowledge is coming if I stick with the training.
If anybody has any tips for me about getting started, I would greatly appreciate them. I can't afford for this to fail, strike that, I won't allow this to fail!
Whew, sorry about the long post, had to give you a little back story though.
Thanks everyone for your tips and advice in advance!
I love the family atmosphere on this site and can't wait to be a contributing member!
Jack
Welcome to the DG Family. Good to have you here.
Looks like you're on the right track. Congratulations on joining the Academy, and I wish you much success!
Looking forward to following your progress.
As you gain and show confidence, people will look right past your age. After all, that has nothing to do with what you're capable of, young OR old. It's all right here>(head and heart).
all the best,
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
Hi Jack! Welcome!
Don't let that stop you...
Just to give you my 2 cents...I went through several Real Estate agents before I found one I thought was good for me. Maybe there is one in another town you could use. Sounds like she doesn't want you to horn in the action and take HER deals away! (Maybe she is threatened by you!)
I wish you luck!
Dawn
Life's a Dance you learn as you go...GET HAPPY FEET!
"Most of the important things in the world have been accomplished by people who have kept on trying when there seemed no hope at all." ~Dale Carnegie
Good advice Dawn!!
Thanks!
3-3-09 (Didn't get to post yesterday. Internet was down.)
Well I got up at 5 yesterday (as I do every day) and did one of the courses "Marketing to Buyers & Sellers Part 1". I am keeping the action items written down and checking them off as I go.
Also thought about getting some business cards as I can get them through work. (Work at a Promotional Products company right now.) But I'm not sure what I need to put on there. And Dean says to do two seperate cards, but the course says to have front and back cards. Who do I need to go with? I like the idea of only one card to keep up with. But Dean is the master and he says have two...... Hmmmm....
Spoke with my current boss after work about his RE connections. (He knows a lot of people in and around the area. Some are really succesful RE investors.) He was excited for me and said he had thought about doing that himself once upon a time.
I was going to do another course that night but couldn't because of the internet being down.
3-4-09
I have done absolutely nothing today to further my REI career. I was going to do a class this morning but internet was still down. My little niece has her 2nd birthday tonight so it will be late if I get to do one.
I have been looking for some good deals online but I just don't seem to have much luck with the online in my area. I am going to have to subscribe to the paper and go to the courthouse. Sounds like a trip for lunch hour one day.
Anyway, I will try to do better tomorrow and hope that my internet is back up tonight.
See ya,
Jack
Well I did do another class yesterday. Getting started with REI. I am still knocking around business card ideas but nothing that really satisfies me.
I guess I need to just print something and if I don't like it I can always print more later.
Anyway, I am still chugging along!
3-6-09
Well I made a really good contact today I think!
I called a local realtor that does business with the company that I currently work for. He said that REI properties were his specialty. He has about 25 rental units himself. I was pretty pleased with that. We are supposed to get together early next week to talk. Hopefully he will have info on a good REI club.
Everyday I get one step closer to that first deal!
Well....not really! But I do see that potential if I am not careful!
So I got a list of the current properties on the MLS from the realtor I talked to on Friday. He gave me a lot of properties to go through (about 10). I only had one in there that I would even be remotely interested in because it doesn't look like it needs much work.
I can't afford to buy houses and fix them up right now because I simply don't have the money to do it with. I just don't know what to do. And the more I get into this I realize just how little I know. Oh well, just keep on keepin on right?
Anyway, some thoughts about other peoples first deals might help. Let me know if you have a "first deal" story that might help!
Thanks!
Jack