DG Community Journal of Success Stories. READ, POST AND BE ENCOURAGED!

3 months after reading Dean's book "Be A Real Estate Millionaire" I assigned my first property making a $10,000 profit.

I called the for rent adds to see if the property was for sale. Found a Landlord who wanted to sell all 5 of his properties. I made him an offer on a 5 unit apartment building. Once he accepted the offer I locked the property up on a purchase agreement. I then advertised the property on craigslist and found a buyer within a few days. I assigned the property over to the buyer using Dean's assignment contract for a profit of $10,000.

I have lots of questions so I hope you dont mind. How long have you been an investor? Did you ever save your own home from being foreclosed? I read in your 2008-2009 stories that your hoem was being forclosed? I don't understand how all this can be done from home. Like how do you know condition of property or if repairs are needed? I read in your prior stories your husband owns a construction company and does a lot of the work for your deals. Does your husband agree to do needed work so these deals get done? Is your husband one of the 2 partners you have talked about? Can you please explain in detail? I am confused.

I read your journal post above and I still dont understand. Can you list what you did like step by step giving details of what you did and what each of your partners did for this? What forms you used and how long it took from start to end. I hope you dont mind my questions, I had other questions I left on your other story. I am just trying to learn so I might be able to try this. Thanks. DM

I just want to take a minute to tell you what happened to me last night. I have owned and operated a full service Travel Agency for the last couple of years, working from home. As you can imagine, it stopped working. The Travel just stopped when the economy quit on us all last year. So, always having an interest in Real Estate and also once owning my own Property Management Company for 6 years before doing the Travel, I decided to join Dean's Academy and start all over again! Last night, I was talking with a friend whom I explained my new found changes I have made in my life and she said......."Can't be done". Real Estate is dead and I should run the other way....NOW! Very mattter-of-factly, I may add! Normally, I would have fought back with a vengence, argued till I turned purple, but I am so proud of my self as I just said....We'll See! With a huge smile on face, calm, cool and collected. She said...Yes We Will!. Now. Please remember, I just started. I have no deals in wings, but today, I made a great connection with someone who is totally excited to work with me and help me find great deals and for some reason, I know I am going to be just fine. We'll see!

Great Idea...

It took me about 10 months to complete my first deal...Finding the agent, attorneys, cpa, etc...Went through a few attorneys/agents...Finally, an awesome deal popped up through the agent...He had somebody list a property that WANTED out of owning a multifamily home...

anyways, went through a bunch of mortgage brokers and finally got what I needed...the pre-approval for the amount I needed...I had no money for down payments/closing cost at all...anyways, I got the seller to pay the closing cost($6000-6500) I borrowed the down payment of $5500...And paid the insurance for the first year out of pocket(1600) that I had been saving up throughout the 5 or 6 months it took for the bank to finally close...I actually ended up getting the purchase price from $185,000 to $165,000...Roadblock after roadblock...Unbelievable learning experience though...Either way, the mortgage is $1407 per month...the rents are $850, $650, $550...I had work done for free(minus the parts/supplies) to make the $650 apartment with 2 extra bedrooms...so that will go up when this guy moves out...Probably $950-$1000...The $850 apartment is going up to $900 when that apartment frees up...and the $550 apartment is going up to $600 when that frees up...

All in all, took me a while to get that first deal, but I did it with determination and a will to succeed...Was tough, but look what it got me...

Unfortunately you are going to come across many people who feel that "Real Estate is dead". I am here to tell you that it is VERY MUCH ALIVE! Most of the people who say that real estate is dead are those who know absolutly nothing about real estate except what they hear in the media. The media portrays real estate as being dead by advertising the foreclosure crisis, mortgage crisis etc... this give your every day person (who knows nothing about real estate ) the impression that Real Estate is dead.

However if you were to talk to a real estate investor or wholesaler in today's market they would tell you the complete opposite. Properties are selling like hot cakes in the investment market. With properties available at rock bottom prices due to foreclosures, short sales and REOs this is the hottest investment market that this Nation has ever seen!

Next time someone tells you that real estate is dead ask them how they know this. I guarantee they will say they read it in the newspaper or saw it on the news.... They have no clue !

Stick with the people who are as excited about Real Estate as you are and you will be fine!

Thank you so much for your rebuttle and understanding. I can tell you this much, very closed minded person, Believes everything she hears and can argue with you at the drop of a hat. Need I say more? And your right, she has no clue. That's why I found myself just keeping my mouth shut for the most part instead of having it out. Once I gain more knowledge and have something under my belt, make no mistake, I will be back right in her face. I promise though, it will be with dignity and respect. Not mean or anything like that. I hate confrontation! I will succeed and NO ONE will take that away from me. NO ONE! I won't let it happen.

I love what you do and I love what Dean does. You guys really inspire me! I hope your day is going great, Carol and I shall talk with you again soon!

Sincerely Always,
Deb Phillips

Thank you Deb Welcome to the DG family. Be sure to come back and post your success.

"I will fall and I will stumble but I WILL NOT BE MOVED... My eyes are fixed and my mind is made up!" You go girl!

Thank you so much,Carol! I sure will! Hope you are having a great and profitable day! Talk to you soon!

Sincerley,
Deb

Great Idea on this Post; and Congratulations on your Assignment. That is Awesome; and those of us looking for first deal need the encouragement.

I recently found an Investor whom I am going to do some Birddoging for. This is all new to me, but this website with Dean, his books, and this awesome Family I know I will succeed! I hope to soon post my First Deal.

Bruce.....

I will just paste the link here

http://www.deangraziosi.com/real-estate-forums/my-deals/40611/after-9-mo...

Hey, that's awesome! I wish you a ton of luck and success with your endeavors! Can't wait to hear about your first deal!!

Sincerely,
Deb

Well, i guess my first deal was a REO. Back last February, oh my it has been a year, I ordered Deans book and read it, then I got his second book and read it. I was afraid and sometimes I still am. I have trouble calling people I don't know why.. Anyway, I started making multiple offers through my agent from the MLS. I wanted to be like Matt Larson, after 3 weeks I would reoffer on the same properties, I am still doing that. Then I got one accepted for about 40% off of FMV. WE found private money and bought it. We closed and rehabbed the property and it is on the market now. to date we have had 6 offers accepted and have closed on four. All private money. WE did not even have a proof of funds letter. But our agent who is an investor himself had one, We modified it and summited it to the bank. the bank accepted it.
Another thing I have learned is that running ads work. An ad was how I first our first private money person. I will keep posting here. there are so many things in the books that will help you. read all of the books and then reread them. Dean knows what he is talking about and is willing to share detail on how to do it. No way am I the expert here and I have not made a lot money yet but it is coming together.

deals deals and more deals

I am in competition of sorts with Donna and she and her hubby Dan have it going I am looking to tag along with them and making some deals with them I find this business as exciting as ever I have been studying real estate for a long time and just in the last year Dean has opened many doors for me that i hadnt thought about before keep keepin on ladies

Congrats in the contest Carol now perhaps getting to work with Dean you can teach him something too

Take care

later Fred E

Donna, I am so glad to hear that you are doing so well. You have encouraged me to continue making offers and attempting Matt's Instant Equity Exchange.

I am glad that you posted because these are success stories that we rarely hear about unless we ask for them. It is GREAT to hear that so many DG members are out there putting Dean's techniques to work. BRAVO!!!