Bimal's Journal

I would like to know how much does it cost to join Deans Success Academy.

Currently I am out of work, mounting debt and nowhere to go.

Any reply will be highly appreciated.

Quote : Do Not Start your day until you have finished it - Jim Rohn
It is Possible to Design and Live an Exceptional Life -- Jim Rohn

Im not really sure how much it cost me in total but I'm making monthly payments for the Academy...
Good luck and don't give up my frined!!!
do you have the new book?

Alex Rubio from Houston

Thanks for your email.

How much in Monthly payments are you making and in total how many payments you have to make that will give total of the cost.

If possible pleae provide the details, it just helps to plan in judicious manner.

Thanks for your words of encouragment.

Regards,
Bimal

Lea,

I will appreciate if can share the cost of Success Academy Education.
Hope to hear from you soon,

You can also email me at beedoshi@****

Regards,
Bimal

Lea,

I will appreciate if can share the cost of Success Academy Education.
Hope to hear from you soon,

You can also email me at beedoshi@****

Regards,
Bimal

Did you get my PM? Hope all is well with you.

Take care,
Lea
SPR Property Solutions, LLC

After I purchased Deans Book, I started out very good, visiting few properties and talking to REA's and then unfortunately I lost my job and verge of losing my house as I do not have any bank balance but more debts.

Finally about a month ago I found a new project and now would like to restart where I had left but time is becoming increasingly scarce as my commute is long.By the time I get home it gets too late so it seems making money like other people have made in RE is a far cry for me.

Any guidance would be appreciated.

Regards,
Bimal

Hi All,

Good morning from New Jersey,

I need some suggestions in purchasing a short sale property details as follows:
1) Two Bedroom Two Full Baths
2) Asking $175000
3) PTax: $3843
4) Built: 1992
5) Monthly fees
6) Do not yet know the comps.

Please let me know how to proceed, what question to ask
Realtors. Any input will help and I will be more than happy to
Share my experience.
If I can get this under contract and assign it to somebody then I may
not have to go through getting a mortgage on the property.

The property currently has a renter who will be vacating soon. I will not be able to rent out soon as the
Management allows a max of 20 properties that can be rented.

This seems like a good opportunity.

Any input will help.

Thanks
Bimal

I have purchased the Live Edge 2013 DVD set and already registered for Edge Event 2014.

My WHY:
1) No money for retirement
2) Have not taken real vacation with family in years.
3) No bank balance
4) No Money for my daughters college education, she is already under debt.
5) very difficult to go through the interview process every time my contract ends, sometimes I am home 2 to 3 months with no income.
6). Go through depression due to financial worries.

My FEARS

1) Lack of confidence
2) Limited RE knowledge
3) NJ is very competitive
4) I get complacent very fast.
5) Some unknown fear
6) Seems I have no proper direction.

Aiming to do at least. 1 deal by Dec 2013.

Looking for motivation and direction.

I will drop a line everyday on my progress, hope this will keep me going and will bring to fruition my goal of at 1 deal by end of 2013.

I have contacted two buyers, one buys houses for cash and the other does buy , renovate and rent.

There are three properties I learnt about,
1) house for Sale , almost 120 days in the market.
2) one FSBO
3) one rental property.

I have also seen some land for sale, but no clue how to proced.

Will be calling all three of them, these properties may not fit into my strategy, but Atleast I will get a feel of how it is to talk to people.

Goal: Atleast one deal by year end. I will achieve it.

Because it was a Saturday, I think, had to leave messages for all the three individual.

Note to self: Not to lose hope, it will happen before the year end, guaranteed.

Bimal, I see you are refocusing on real estate investing. As one who has also had to refocus, I want to encourage you to stay with the DG website and continue to keep us posted on your progress. Take the baby steps necessary to reach your goals. I like the positive message to yourself that it will happen before the end of this year- guaranteed.

Two suggestions: First, If you haven't done the seven levels deep, your why, make sure you do that. If it has been awhile since you have done your why, there is nothing wrong with doing again. For me it helped to clarify where I am right now and what is important to me. Second, Dean encourages us to have written goals and to break down our into workable steps that we can you accomplish. To add to that, I would encourage you to bring these small accomplishments to the DG family so we can celebrate with you. Remember that with such a large DG family you are not alone. And remember also to reward yourself along the way. I wish us both great accomplishments this year.

Patrick

Hi Patrick,

Thanks for stopping by and for the encouragement. Dean always mentions that on DG site and outside there are people helping people and you just proved that by your words of encouragement and suggestions .

I will surely revisit Deans' 7 lawyer deep to know my WHY as Iit will be a factor to be resolute to make it in real estate.
And by the end of today, I will come with my goals and plans, so that it keeps me on track.

Thanks again for your suggestions and encouragement, I wish you greatest luck too in your pursuit for success in real estate.

1 Deal By EOY 2013.

Best Regards,
Bimal

Thanks for the great message, Bimal.And thanks for the encouragement. The suggestions I wrote were also for me because it is so easy for life to get in the way of where we would like to be. Dean also likes to tell us to look at all that we have accomplished already both in life and in real estate investing. I'm so glad to see you striding forward. Let's keep this thing rocking on our terms.

With gratitude,

Patrick

It is already day 4.

Here is What I did today,
a) Spoke with a real estate investor, the person does buy and hold for cash flow.
b) I asked him about the size/equity he is looking for in the house and he said he wants to make 10% every year on the purchase price of the house.
eg. If he purchases a property with 4 units at at 220,000 he would want
to make net $22,000/year on rental, after all expenses.
Not sure if I can assign him a property because when I spoke about the assignment fees he mentioned WHY should anybody pay you an assignment fee
1) when it is more easy for people to negotiate and buy property online on their own 2) For the assignment fee , what is value I am adding to the property that is beneficial to the cash buyer.
I was not able to respond to these questions.

c) I am in the process .of planning for next 4 months to at least make one deal by EOY 2013. If I follow Matts 25:1 strategy I will have to place atleast 25 offers, SO I need to be more aggressive with my planning, taking action and get this done.

One deal by EOY 2013. (This serves as a constant reminder to myself).

Good Night

Hi Bimal,

Everyone has fear. Each person just has fear in different areas. The best thing to do is to find something you have been successful with. Not necessarily something big, just something that you have had personal success doing. Next, divide the thing that you are afraid of into small sections. Once you have done that, write down each small part on a separate piece of paper. Let's say you divide your fear topic into four sections, then write them on four individual pieces of paper.

Overcoming fear does not have to happen all at once. Each time (day, week or whatever) pull out the part you want to work on. Now that you have it in front of you, put a box around the fear topic. Write enough power words to completely fill the page. Now as you look at that single fear among all of those powerful words, that little fear will seem so much smaller than you ever imagined. Do it each day with the same little fear in a box until you have conquered it completely. Alas, move to the next section...

Giving up is not an option...

Stay Focused
RER

Hi RER,

Thanks for the encouragement, I definitely need it and for the great tip on how to conquer the fear, this will go into my daily to do list.

I WILL NOT give up.

Thanks again.
Bimal

Today my wife called another realtor who will provide us with MLS listings in our area. We told the realtor that we are looking for houses for assignment deals. Awaiting to get the web URL from the realtor.

1> Haven't been able to contact the owner of the FSBO.
2) The realtor I have been trying to contact cannot be reached.

On Sunday I learnt about two properties where the sale price is under $50k, obviously this will need rehab, per my strategy I intend to do my due diligence and put these properties on contract and do an assignment.

I know nothing concrete has yet happened in terms of actually putting an offer but I have to keep at this and stay on course.

1 deal by EOY 2013.

Bimal

Not much progress today.

1 deal by EOY 2013

Bimal

Keep going, Bimal. I like how you are keeping the DG family posted. GTwo things that I find helpful are rereading Dean's books and watching the movers and shakers here on DG website. The book I like is the one with the yellow jacket: "30 Days to Real Estate Cash" because it formulates a plan i can follow, rather like following a recipe for thirty days or for however long it takes to get there. In your case it is your goal to get there by the end of the year. Bimal, I know you can do it and that there will be many of us here in the DG family that will celebrate with you.

Although there are many on this website that I love to watch and learn from, including you, it comes right down to both of us taking action. You are doing a lot of things tight by staying focused and asking questions and I congratulate you for that. Let's put this thing into full gear.

With gratitude,

Patrick

Hi Patrick,
Good to know you are following my journal. Thanks for suggestions.
Do let me know about your eeriences and successes so far. but I would like to encourage you to take action and
Start going out and visit some properties, just to get feel of things. Continue doing what ever you are doing as far as it is a step towards RE success.

you are correct other DGers will always be there to celebrate your successes and also provide help and guidance when needed.

1 deal by EOY 2013

Wow 7 days have already gone by and I am happy with my progress so far.

Today my wife and I visited couple of properties details as follows:

1) Property 1
$45K, 2 bed 1 bath, no plumbing, no electric no heating , no proper drive way, rear side needs substantial rehab, clean the back yard, gutters needs work,
I will call the broker tomorrow and look the house from inside. My plan is to rehab this prop by using private money then sell it or rent it. But I have to find the rents in my area and subsequently articulate in such a way so I get 10% cash flow on the ARV of the house.

2) Property 2
This is a FSBO, the house looks good from the outside, well kept backyard(small), listed at 200k, will call the owner tomorrow and look the house from inside. cons: this property is on the roadside , small parking lot, because the driveway leads directly onto the main road getting out of th whose may be difficult , I need to do some thinking on this.

3) Property 3
two bedroom house , again this is on roadside but has decent parking area. Currently it is advertised both for rent and sale. Calling this guy tomorrow. will delegate this task to my wife. I wil have to articulate questions for her to ask the realtor.

Tomorrow my wife and I will be again visiting two .properties, 1 is on auction for $20K and the other is in a per foreclosure state as the owner has received a NOD. $68K asking price, mortgage balance is 54K. there is a potential this individual will pay the arrears but no harm in making an offer lower than the outstanding Mtg Balance.

Will continue reading Deans book in the Bus on my way to work.

I get a feeling that our team of two (Wife and Husband) are going to be busy rest of the week. As I am writing this many ideas and action items are popping in my head

1 deal by EOY 2013.

Good Night.

Bimal

Visited 3 more properties today to get an outside look and see if these are still occupied.
All the properties are vacant and all these need a rehab.

1 ) will call the realtors on all the properties we have seen in the last two days and then do a walk through of all these properties
from inside and put offers.

One deal by EOY 2013.

I am going to meet with the realtor tomorrow at 2pm on a property which is run down priced @45k.

This property does not have , heating, water, electricity, drive no good, driveway no good
I am planning to rehab and rent it.
The rental I can get is $900 to $1100. The property can appraise to $110k after rehab.
The property is in a commercial zone .
The property is sitting idle because the parents of the owner used to live here, the owner tried to rehab and has put new windows and ran out of money.

My question how much should I offer for this property, the rehab may cost upwards of 20K.
After the walk through I am planning to take a contractor to get an estimate on the rehab cost.

Since I do not have money , I am planning to get money on credit card, get private money and then subsequent to rehab, get it refinanced. For that to happen I will visit smaller banks where may be they may loan even prior to rehab.

Any input, help is greatly appreciated.

Bimal

I am avarē that i missed Day 9, actually i was very excited about today because I was meeting the Realtor to look at a property.

So my wife and I went to look at the property, here is the run down
1) Property Value : $45,000 K
2) Except for the basement walls the whole house needs to be brought down and rebuilt from scratch.
3) This is a tax sale property.
4) the person who purchased the tax sale has paid taxes for almost three years and now he is asking the owners to declare bankruptcy , which the owner does not want to do,.
5) the cost to rehab will be around min. 70K, The ARV after repairs will be max 95k.
6) Max rent I can get is $900/-
7) Even if I offer $5K ( Five Thosand) , it will stil be a bad deal,
Sewer is paid upto date.
9) There is water in the basement due to rain, the basement looks wide.

Then the realtor also took us to look a short sale property, estimate cost to repair this property is 45k, Bank is asking $110k, ARV could be $ 158k, I can rent at $1500 to $1700, not sure even this property is worth it. Property is built around 1948, I van offer 45k to 50k max.

I have one more property to look at, The sale price is 229,900, person wants to move out of the country, I can offer not more than € 150K to make any money.

By just looking at the properties and talking to realtor I have gained so much actual knowledge , which has encouraged me to move forward even strongly.

I am thinking of taking out HELOC, max I can get is 60K and that is lots to buy and rehab a property

Good Night.

Bimal

Last couple of days, nothing great happened , I am still waiting to hear from a home owner and a realtor.
But last few days have been reading Deans book and relearned some of the things I had forgotten.

I am going to go out and take action and will find some time to make a deal happen.

One Deal By Year End 2013.

Bimal

Got a lead for a REO from my realtor.
Asking price: $99,00
Zestimate: 277,900
I will be visiting this place to see if it needs rehab. This house may not last long in the market, so really have to speed up on this.

1 deal befor EOY 2013

Callled a mortgage broker to see if I can refinance against a house that is paid off . The broker said since I do not have a continuous work history an independent consultant I will have to wait another 6 months to apply for refinancing.

I have found there are many house in preforeclosure phase and see that there are many opportunities , my issue is I cannot make any offers as I do have money to buy this properties for fix and flip to fix and hold.

One FSBO asking price $229,999, I calling tomorrow and find out what is the minimum he is expecting, is p.tax, water and sewer payments are current and if there are any kinds of lien on the property.

An auction for a 2 bedroom home is going to take place next week, $2000/- deposit to bid, the price starts at $20k and it is an online bidding, I will go and look at the house from inside.

The property that I saw last week which is 2 bedroom house, needs substantial pairs , it is short sale, need to take a handy man to get an estimate.

Even thou I have started 16 days back I have not made any offers yet, if I have to succeed to do Atleast 1 deal, I have to start placing 5 offers a week.

Every day I read a portion of Dean,s book, Profit from RealEstate Now, everyday and I am getting more confident and excited about this. I still do not quiet get hang of everything but I do not care, I need to go out and start making offers and that way will learn few things along the way.

instead of 1 deal by EOY 2013, I want to do more if I can and do not want to put any numbers to limit the numbers of deals I can make. I am feeling something is sure going to happen and it is a matter of time.

Bimal

Times is flying and still no end in sight.

Called the broker for the property which is an REO, will be visiting the property next week,
Again this property is 99k.

More calls to make tomorrow.
Will keep everybody posted.

I have to motivate myself to do even better , so far while there has been progress but nothing concrete yet.

There always tomorrow which will bring new opportunities, hope and blessings.

Bimal