OfflineI am getting pumped up all over again. Read BARM a few months ago. I was starting to get discouraged because I didnt really believe in myself. I am not very outgoing and have a hard time talking to people. However, I just found out that two of my cousins just got their RE agent license. As soon as they get a place to work I'll have my agents all set up. Also, been pouring through Craigslist and found about a dozen people looking to rent houses out (potential rent to own clients). Plan is to grab a Foreclosure and fix it up. Will have to find a good HML for about 6-9 months for the funds, then try to refi or sell it. Once I do that 1st one I'll have the money and confidence to join Dean's mentor program and finish building my team with attorney and tax advisor. Would love to find a mentor around Boston's South Shore as well. What I would like to know is how many holes are in this plan? Lol Any advice would be greatly appreciated.
Stevie D
I would like to have at least 1 deal done from beginning to end with either wholesaling it or retail selling. And have 1 property to rent out for monthly cash flow, whether a SFR or multi. Would like to get my first deal done by mid July, and have 1-2 more by the end of the year.
Going out today to look at 6 properties that are foreclosures in the town next to mine. Hopefully I'll have 6 offers in by the time my kids get home from school.
Well, I had a meeting with a broker yesterday. She pulled my credit for me and it was about as bad as I thought it would be. So I think I'll have to start out with a quick double close or subject-to's but am having trouble finding people willing to do them. Having no cash is really hurting since I can't even go with HMLs. They want 30% in and I don't have it. Still looking though. Most of the responsesI have gotten have been from renters looking for new places. Cant really get them in when I cant get my first deal done though. Not giving up, just getting a bit discouraged and blowing off some steam.
Stephen
I got your email but I thought I would post it here.
I think maybe since you seem to be developing a renters list you could start with trying to lock up some lease option homes or lease purchases. This way you can lock them up ithout using our own money an no credit. Then make sure you have the sublease clause in there so you can lease them yourself or either do a sandwich lease option/purchase as well.
Also research bird-dogging and assignments on here. No credit needed for either and they work well in giving you a financial base to jump start from.
Anita
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"FAILURE IS NOT AN OPTION"
Just got Dean's new book and Student Secrets report. Can't wait to start reading and more importantly, start DOING!