OfflineI had set my goals to do my very first deal with in the first 90 days of joining the Success Academy. I made it by the skin of my teeth you could say I was just 2 days from the 90 days.
But, the great thing is that I met my goal. I found this house and put it under contract on August 18th and had it under contract for sale on September 20th. We just closed on the deal on the 23rd and walked away with a profit of $10,400.00. Not bad I say for the first one.
What really make me happy is that I sold it to a young man who is going to rehab it for himself and his fiancé’ and he is really excited because he will be able to rehab it and have about 30K in equity when he is finished with.
Now I’m looking for my 2nd deal, I already have a couple in the pipe line and I’m hoping to do another deal in October, hopefully it will be as good as my first.
I’ve set my goal to have 4 deals accomplished by December 31st.
Joining the Success Academy was the best investment I’ve made just know that I can call them and have all my questions answered is worth every penny.
If you’re still thinking about it call them they probably have a program that can help you I know it’s helped me.
ON TO THE OTHER ONE!!
"It's not what happens to you that determines how far you will go in life,
it is how you handle what happens to you.
Zig Zigler
It's good to hear stories like this!
reanimal25, great quote!
Lisa
"Persistence Pays, Procrastination Delays!" - smurfy
"I can do ALL things through Christ who strengthens me." - Philippians 4:13
"He will keep in perfect peace whose mind is stayed on thee" Isaiah 26:3
"Those who wait on the LORD Shall renew their strength; they shall mount up with wings like eagles, they shall run and not be weary, they shall walk and not faint." Isaiah 40:31
View my journal here: http://www.deangraziosi.com/real-estate-forums/investing-journals/59850/...
goes to show us that success is a learnable skill !!
jay
Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...
What I did was I have a friend who has some money and he found out I was wanting to get into Real Estate investing. He told me that if I really learned and new what I was doing that he would put the money up for a % of the profit. So when I found this deal I put up the deposit and all the other stuff like cleaning, maintenance of the yard and such, less than 300.00 but he put up the 12,500.00 for the purchase. I do have transactional funds available but I wanted to show him that I new what I was doing.
When we closed and he saw my check that I deposited into my account after I paid him his money back plus the % we agreed upon he was hooked. Now he has made even more money available to me. That's what I was hoping for. We are going to do a couple more wholesale flip and then we're going to do some rehabs. I've been doing them for a couple of years now for other investors it's time I do them for myself.
Thanks,
Gene.
That is a DOUBLE-FEEL-GOOD thing then! Not only did you knock the deal out of the park, but, on top of that, you got the added benefit of being able to show your friend the proof and, as a result, get more funding for future deals.
AWESOME!!
"Make it an AWESOME day! (Who else is going to do it for you?)" - Mike Spillman
"As long as there is breath there is hope!" - Mike Spillman
Thanks for all the details, Gene!
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53
On your first deal way to go!! Thankyou for the encouragement it was most needed. I know you will meet that quota with the Success Academy and get your mula back. Great Success In All Your Endeavors! Cecelia
Gene - Congratulations on your first deal. You and other DG members
are truly inspirational to all of us here. Thanks for sharing all the
details. The best of luck in your next four deals!
Leilani
Gene,
way to go-congratulations! 90 days! that is really an accomplishment!
I joined the Academy a couple of weeks ago and I am very excited too. Looking forward to hearing more success stories from you.
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Way to go, just keep taking action and you are sure to succeed!
... Verses: 35 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles; They will run and not grow weary, They will walk and not be faint." Isaiah 40:31 ...
Gene,
What a smooth deal! I think it's great to know you set goals for yourself.
The hard part is over....knock em dead!!!!
Kelly
www.ownusahome.com
Awesome story! Thanks for sharing. It had lots of determination and inspiration that even though things didn't go "as planned", through the twists and turns you made it happen and the end result was good. Great job!
Hey I was wondering if you could get the loan to use for the academy
GREAT JOB BUDDY! KUTGW!
Thanks for the Confidence...Now I know it's worth losing sleep in order to further my education; to get where i want...thanks again
Good job on your deal, wow! I can't wait until I get my first deal under my belt. You are an inspiration to us all on the DG website. Can't wait to hear about #2
Stuart
I just read a message from a new student asking me a couple of questions and talking about fear holding him back. Here's my response to him:
Yes it was like a wholesale deal because it was a wholesale price. I sold it to a young man that is going to rehab it himself with help from the family and then live in it.
As for my buyers list I am building that everyday. I just call these people and I have a little script that I’ve put together from what I learned in dean’s books and use that. If you like I’ll copy and paste it and send it to you. Hey don’t worry about failing, that’s the biggest thing that kept me back for a while, all you want to do is gather information and what I found was that most of these people welcome the help in finding deals. They are glad to pay you to have them make more money. Read Dean’s books they tell you exactly how to do it.
You have to just do it, the fear will gradually disappear as you do it and become more comfortable doing it. Believe me I know what you’re talking about! But remember fear will keep you in the box you are in now and only by overcoming it will you break out of that box. Don’t let fear determine what your future is going to be. Every time I pick up the phone to call someone I tell myself “IF IS TO BE IT’S UPTO ME” and I just do it. Some days I will deliberately call as many people as I can just to break the 800 lb gorilla (THE PHONE).
Hope this helps.
Gene
"It's not what happens to you that determines how far you will go in life,
it is how you handle what happens to you.
Zig Zigler
Congrats on your first deal, here's hoping you
have continued success for years to come. $10K
is not to be sneezed at!! Well done again.
=Martin
Dare To Dream & Work To Win
Hi Eugene Congradulations on your first deal. I have a question for you. How did you find a buyer for your deal? Did you already have him on your buyers list and just went shopping for him, or did you find him after you had the deal set up? I am anxious to do my first deal but when it comes to having a buyer I am just not there.
I was wondering if you could send me a copy of this please and thank you
Hay I'm happy for your success. Keep on keeping on.
Awsome job. Setting goals is the way to go. Keep up the actions that gave you the success and you will have more success.
I wish you the best!
Hi Eugene,
Congratulation on your first deal, it seems like things have gone great for you and I wish you the best in your next deals.
I was also wondering if I could take a look at your script as well. I've just started the academy a couple weeks ago and am looking towards any ideas on how I can improve my techniques.
Thanks!
When we talk about social networking, we have it right here on the DG site. Congrats Eugene, first on your deal and also for sharing your knowledge with the family. We have an open book, that is daily being updated and ready for use. All we have to do is read, set goals, make plans and begin to take action. God Bless and we look forward to hearing about all your upcoming deals.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
You did really good! And thank you very much for telling all of your story so we could follow and learn everything. You are so nice to help us learn all of the little details. The only questions I have you said you called your realtor to get information on quick price did you have to pay a commission to your realtor? And you also said you had 2 friends give you pricing on the rehab did you have to pay them? If you did how did this inpack your earnings?
Sorry don't mean to rain on you parade. Just need to know.
Thank you,
Bertha
Thank you
Hi S.E and welcome to the DG family.
I’d be glad to share the details. If you go to my post “This is how it happened” under the heading “I did my first deal” you’ll see most of the details there.
As for the forms I used it was the “PURCHASE & SALES AGREEMENT”. I used this document for the purchase and then the sale. When I had the 1’st set of papers I faxed them to my title company to get an estimate as to what it was going to cost as far as closing cost is concerned. They started to do all of the paperwork and had everything ready I about a week. As soon as I had my contract signed with the seller then I started to call my buyers list and I put an ad on Craigslist. A couple of weeks later, (which now I will put up a sign the same day I have a signed contract), is when the young man that purchased came along. He came from my signs and nothing else. You see I put up 14”x20” bandit signs at every intersection about 2 miles from the house itself saying: “For Sale 3/2 Home – 1500 sq.ft CASH BUYERS ONLY 29,9000.00 ph#”
As for finding the deal I am always looking for empty or distressed properties. I take the address down and when I get home I go to the property appraisers web site and look up who owns that property. Let me back up a step 1st I go to http://totalviewrealestate.com/userguide.php and enter the address there and find out what it’s worth and the PARCEL #. Then I take that PARCEL # and go to the property appraisers web site enter that number and start to find the owner. I send letters, I try to find their phone number etc. etc. I don’t stop until I have made contact with the owner. Then I go into negotiation mode. I either have a deal or I don’t.
As for your GOALS write them down where you can see them everyday, I mean it, it sounded tacky to me when I first heard it but it works. It keeps you focused. For your own good DON”T let anyone discourage you from reaching them. If they are moral, ethical and right for you and your family then go for it.
I hope this helps,
Gene
P.S. I will be posting this for the benefit of the whole family.
"It's not what happens to you that determines how far you will go in life,
it is how you handle what happens to you.
Zig Zigler
Hi Berths,
As for commissions I didn't have to pay my Realtor, he was happy to help because he is helping me find deals and he knows that even if I find a deal through another Realtor I will use him as my BUYERS AGENT and he will make a commission. Also I took him out to lunch to a nice restaurant of his choice. As for my GC friends they know that when I find a house, that I will be rehabbing, one of them will get to do it. I've just started to look for that deal and it may come very soon.
Anytime Bertha I'm glad to help.
Gene.
"It's not what happens to you that determines how far you will go in life,
it is how you handle what happens to you.
Zig Zigler
Thanks for the details. I really like to see the nuts and bolts of a transaction. Great first deal. Awesome job. David
Buyers Script:
Before you start to call make sure you have a good pen or pencil and plenty of paper, I use a pad to take down as much info as I can.
I introduce myself as a fellow investor in the area.
How are you doing today? (Wait for a response) build on that a bit but move on.
I was calling because I saw a sign saying that you buy houses, are you currently buying?
(Yes) I proceed (no) I try to find out what’s going on. Let’s go with yes.
I was wondering what areas are you buying in? (Take notes)
What price range are looking to be in?
What type of properties are you most interested in- Bedrooms-baths-type of roof square feet-etc.?
What profit margins are you looking for out each deal?
What levels of rehab work are you willing to do?
How quickly can you typically close on a deal?
Do you prefer assignments deals or simultaneous closings?
How do you handle Bird Dog Fees?
I don’t always ask all these questions but if I get an investor is willing to talk I gradually ask all these and more. BUT THESE ARE THE MOST INPORTANT FOR ME.
There are some other questions I ask if he/she is willing to give me the time but as long as I have that I’m good.
I make sure to get all the phone number and email address and ask which is the best way to contact them when I have a deal that meets their criteria?
I thank them very much for their time and say “HAVE A GREAT DAY!” I WILL BE CALLING YOU.
I review all my notes and then place them on my buyers list with a scale number 1-10.
10 being a hot buyer and 1 being a not buyer at this time. For non-buyers at this time I still keep them in the loop once in a while because you never know when they might want to get started again. I am currently entering all of my info into the SFL system to make it easy to sort and contact these people.
As soon as I do that I go to the next one. I set my schedule to make my calls for a specific time of day. I find that the best time is Tuesday – Thursday from 10 am till 11:30 or 1:30 till 4:30. Unless they call me back at any other time. I currently don’t have a specific day that I make call it just depends what else I have going on any given day.
Well that’s it. I really hope that this will helps.
By the way a copy of this script is found in the Real Estate Marketing course in the Success Academy.
Have a great day.
Gene.
"It's not what happens to you that determines how far you will go in life,
it is how you handle what happens to you.
Zig Zigler
Gene,
Congrats on your first deal. That fear is a killer isn't it? It is tremendous for you to share this script. As some of us work to get our feet under us, we are given even more angels on our shoulders to lift us a bit higher and get us to our own goals a bit quicker. Thank you so much for being one of those angels today!
Sincerely,
Kevin A Goldman
Goldman's Gardens Real Estate, LLC
Wholesale Real Estate Investing
Great Success to Us All!
My Journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/62066/...
Why do I deserve this? Because everyone should be able to enjoy their life, not struggle through an existence.
Dean,
I agree with you that "Bad News Sells" and the news media uses that to it's advantage. As investors, we should not focus on the negative information, but instead, remain focused on our positive future and goal accomplishments. Thanks for being our "Guiding Light" and providing the weekly "Coaching Moments". Keep up the good work!
Not all that is presented on the television is bad news, however. I was watching Mad Money [Jim Cramer] on Thursday, Oct 7, 2010 and at the beginning of the show, Jim presented: "Ten Positives in this Market". He's focused on what's going right. [http://MadMoney.cnbc.com/] Included in the presentation was #4 Commercial-property market, which I found interesting. Also, there are captions at the bottom of the screen which offer statistical information and include real estate trends, which appear to be positive. They also stated that the 15-year fixed rate mortgage rate is at an all-time low and the the 30-year fixed rate was lower this week...all good news for us investors.
I also agree that we need to filter the information at we receive (news media) and remained focused on our positive future. Like what is written in Napoleon Hill's book: "Think and Grow Rich", the predominate thoughts that are in your mind help to determine your destiny.
Texas Ice Man
Congratulations Eugene,
Sorry it took me so long to read your journal, but I read it and enjoyed hearing about your success. I hope to complete a deal soon. You give me inspiration.
Ty
Yesterday is history, Tomorrow is a mystery, and Today is a gift...
Ethel Griffin
...So don't throw away a gift, do it today as tomorrow is not promised.