LANE MCCAWS ROAD TO RICHES!

Hey Lane,

who is going to be on your list? Lawyer,real estate agent,mortgage broker am i missing any.Im trying to follow your lead you are giving me the inspiration i need.No preasure just thought i would let you know lol.

Aaron

#1 Mentor = Leader of your local REI club or someone that knows everything that Dean is teaching.
#2 Investor friendly Real Estate Agent
#3 Accountant
#4 Local bank(s) that don't require seasoning.
#5 Title company that is familiar with assignments and double closings.
#6 Property manager or management company.
#7 Credit repair company for your tennant buyers with bad credit.

You don't have to have them all at once but I don't like to go back and do things later so I am going to get them all in line now so I can use them when I need them. You have a bunch of tools in your toolbox but you don't use them all at once right? This power team works the same way. You won't need them all the time but if you already have them available you won't have to scramble to find them when you need them.

Email sample: Hello, my name is (your name). I am a local real estate investor here in (your town). I see from your add that you are looking for houses to pay cash for. I have a nack for finding really great deals and I would like to add you to my buyers list. If you could tell me as much about what you are looking for I would love to find you what you want.

Thank you for your time and have a great day!
Hope to hear from you soon!

(Your name)
(Your email)
(Your phone)

Thank you dgadmin! lol I must be doing something right!

Ok so tonight I met with my mentor again just to give him an update on what I have been doing. I went there with a few questions to ask and he answered every single one and then some. It is so great to have a mentor that has made the footprints in the sand and all you have to do is walk in them! The questions I had were about building my power team. I wanted to know who the best people in our area are to put on my team. The information he gave me just about blew me away! Here is what I have now.

I have a dynamite real estate agent that is not afraid to do anything.
I have an attorney that also does the escrow and the title work on every deal.
I have a local bank that does not require seasoning!
I have an accountant.
I have a building inspector/structural engineer
I have a plumber.
I have an electrician.
I have a pest inspector.
I have a snow removal/scrap removal guy for rehabs.
I have a heating and cooling guy.
I have a property manager.
I have a guy that will serve eviction notices so I don't have to.

My mentor gave me the names and numbers of all of these people tonight and all I have to do is make the phone calls and develope my relationship with them.

The other question I asked was how to use my HP10BII business calculator to figure my numbers and offer prices. He told me how to do it once but I never wrote it down and I forgot. Now I have it wrote down.

If you don't have a business calculator make sure you get one. It makes crunching the numbers a lot easier and faster!

If you are not a member of an REI club I strongly STRONGLY suggest you become one and become friends with the most successful person in that club because they will be a goldmine of information that will put you way ahead in this business!

Do not be afraid to ask questions! Learn as much as you can as fast as you can!

If anyone has any questions please feel free to ask me! I am not going to hold any of my knowledge back. Everytime I learn something new I will let anyone else know and if I don't know something I am not afraid to ask someone who does. I am honored to already have followers and people on here asking me questions on what to do. I am still a (pardon my french) NEWBIE and I have a lot to learn but I am willing to share what I do know with anyone who asks.

I also have to call my real estate agent tomorrow and have her pull a list of properties that have a DOM of at least 100 that are being sold "as is" that are estates. This is part of Matt's 25:1 system to find the most motivated sellers! I can't wait to get that email notification system set up!

Things are coming along fast but I feel like I can go faster. I am fired up tonight and I am about to go watch more of EDGE 2010 and take another 2-3 pages of notes! I have 3 pages on Matt Larson alone! I have all of his one liners in my head and have went over mock conversations in my head so I feel comfortable using them when I need to.

Well I think that is about it for now. I will have another post tomorrow after I get done making all of my 11 calls to the people that are going to be part of my power team.

Wish me luck!
Good luck to everyone else!
Make this week a productive week!

WAy to go and yes your mentor has an abundance of contacts and then some. He's amazing.

There was a visitor once to our REI club and I shared about the house I'm getting with this local bank that this visitor was at the open house too and so he knew I got the deal and that Greg helped me. He asked me later if I paid Greg. I probably should but that's the kind of person Greg is, wants everyone to succeed.

Love your action steps!

To your Successes in 2011!!!!!
WAy to go on all you're doing.

Cathy L

That is amazing that you got the whole list for your power team! Talk about a leap frog step!

Thanks for sharing!

Karen

That is how long it took me to call my Attorney, my bank and my accountant and get then all on board. How is that for making good use of time!

I have my team in place. I have the knowledge on how to crunch the numbers. I have my cash buyers in place. I have my listings being sent to me by my agent.

It is time to get down to crunching the numbers and making the offers! I am at the point of taking action!

That is my goal for tonight when i get home from work at 11p.m. sit down and figure the numbers on my possible deals. Find the best ones and get them submitted to my agent!

I have been stuck on this earnest money problem in my head! I finally got the answers and clarity I have been looking for! I was over complicating it BIG TIME! Oh well, it gave me time to build my power team and be ready for the future! I will keep working hard this week and get that deal that I want this month!

Thats all for now! Check back later!

I think I just posted the most powerful blog I have ever written! (THE YOUNG GUNS ARE LOCKED AND LOADED! READY AIM FIRE!) Go read it if you havent already. I had no idea all of those words were going to come out of my head! WOW.

Anyway, I found out today that I have an interview on Friday for a higher position at work that I applied for a couple weeks back and this higher position has the potential to pay a significant amount more than what I make now. Wish me luck! I would be a great boost of monthly income for me!

Make this week productive everyone!
Goodnight!

Lane, I read your blog and it was beautiful. Those words DIDN'T come out of your head. They came out of your heart.

Good luck on your interview. You will blow them away just like you are blowing us away.

Good job lane,your hard work is paying off....

since I have posted my progress. The truth is I haven't done much else as far as big steps. All of the big steps are pretty much out of the way. The power team is in place, I know how to cruch the numbers, I have my bandit signs and flyers, I have my buyers. The next step I will be taking tomorrow is submitting my offers to my agent. I have about 10 offers ready to go right now and when I get home tonight I am going to figure up about 15 more to at least get the 25:1. Every one of my offers are on vacant properties that have been on the market at least 100 days. The average offer price is 56% of FMV. I am hoping to get at least one accepted or at least get someone to come back with a counter offer. I will also be submitting those same offers every other week until they get accepted. I also have two DG.com partners that are willing to be my private money lenders. They have offered to put up the earnest money I need to get me started in my REI business. I just want to say thank you to them. They know who they are. I will make good use of your investments! I guess that is all for now. I am at work waiting to hear if I got the position I interviewed for. I felt really confident in my interview and only 3 other people were up for the same job. I hope I was the one that stood out in front of those other people!

I don't want to get everyone excited but I just want to tell a little bit about a property that I have me realtor running comps on. It is a 4/3, 4300 sqft, single family luxury home. Assessed value is $632,997. The owner bought it in April of 2008 for $750,000. It has been on the market for over a year. Original listing date was 12/11/09 for $969,000. They are now asking $799,000. Once I get the comps on this thing I am going to run my numbers. This house looks like it needs no repair but of course if I were to put it under contract I would inspect it just to make certain. This could be a potential killer deal in the making but I don't want to get too far ahead of myself. If there is anyone out there who wants homes like this please contact me. I will find properties for anybody. I will keep you posted on this project.

Hey lane for bandit signs www.victorystore.com 80 cents business cards www.gotprint.com these are cheap but good.when ordering 1500 it all adds up,just something to check out.
Aaron

Ok so it is looking like I am not going to get a deal this month but that is ok. I have not stopped learning and networking and creating more leads and tools I can use. I have my fliers made now and I have yet to put up my bandit signs. I really need to do this. I have been using the MLS listings from my realtor and have made 10 offers on them but I know that is not near enough. If I want to be making 25 or more good offers a month I need to bring in more leads. I finally got out of my analysis mode and got into the action mode. I am tired of sitting around learning and reading. I am ready to get out there and rake in the cash. I have gained a lot of knowledge on how to talk to FSBO's. I am still not wanting to go talk to them but that will not stop me. I have to do it so that is what I am going to do. The fliers with help me because I will have the FSBO's coming to me instead of going to them and getting yelled at for trying to steal their house. I have realized that I don't need the buyers right away. I do not have any tenant buyers on my list yet but I don't care. If I get a property under contract with a 30 day time frame to work with. I will just market that property to my cash buyers and market it to the tenant buyers. If I can't get it sold in 30 days then I go back and ask for another 30 days. If the seller says no then I just move on to the next deal. Plain and simple, there are too many other deals out there to keep trying to push one through that isn't going to work. Do not waste your time on something that won't work without too much effort. I know I have a way out even if I don't have the buyers in place. This should be a lesson to all the newbies out there trying to do this. You don't have to have it all figured out before you go out and do it. Just learn enough to feel confident and then go out and do it. Go out and do it even if you don't have full confidence. Nothing will build your confidence faster than getting out there and doing it. If you screw up and lose a deal, SO WHAT! Learn from that mistake and remember why you lost that deal and don't do it again!

I want to send out a special thanks to a few people for helping me get to this point, first and foremost Matt Larson for setting me up with Greg Harmon. Greg Harmon is my REI club leader, my coach and my mentor. Cathy Loose, Matt Behrens, Mike Mangham, Joe and Stacey Jurek, Jan Malek, Bill Pohl, James Kendrick, Chris Brindamour. Those are just a few of the many people that have helped me get to where I am today. They have been there for me when I had questions and always gave me straight forward, honest answers, not one of them told me they didn't know the answer to my question.

All you have to do is ASK people. Do not be scared to ask questions!

Lane after reading that post I see you are going to have a hard time trying to say what you want to in a 100 words.

Yeah I think alot of people will have a tough time with 100 words with how much we need in there but I will try my best! Lane you are doing awesome man, way to take action and actually put out offers. You have come up on so many problems and have move right past them without having to sit there and think about what you need to do next. Keep sticking with the basics make offers and the buyers will come. GREAT JOB!

You are very right!
Yes it is going to be very hard for me to contain all of my thoughts and goals into 100 words!

Thanks jan thats what i'm doing reading and learning i just got my books a couple days ago and i'm going to be joining the success club real soon i read on here daily and i learn alot of things i have a list of rei clubs that i'm going to join one in a day or so i don't have the time for everything else so i'm just concentrating on this right now and not worrying about anything else and it feels good and this is what i want to do and i know that i can! I don't give up on anything that i do and i will continue to push forward and learn alot more and keep reading blogs daily and getting what advice i can get from the dg family thanks all and thanks dean!

P.S.Lane you can do it and i wish you the best success!

Do you see that little Diamond badge on your profile now? That is my goal. I still consider myself a nobody on DG.com until I have that diamond badge!

Yeah it did feel good to get that badge but it doesn't mean you are a nobody on DG, you are doing the work, taking action, doing all the right things, and have the right attitude. You are an investor as much as anyone else on here.

If you're in the Chi/Oak Park area, hit up the college areas and landlords

Fact: Most landlords who rent to college and law school students often will sell if the opportunity arises. Look for 'For Rent' signs. Thats where you'll make your money from.

Stay off the MLS, learn how to find houses on your own by canvassing, networking, etc. You're new, so you want to be in a position of control instead of agents or realtors telling you the seller doesn't deal with secondary contracts aka assignments or transactional funding is not accepted.

Depending on what county you're in, if in the Chi, hit up the Cook County Economic Development Dept; that is where you have real players in the ame who can get you to REAL cash buyers. Ever wonder how one or two companies names always come up in certain areas with multiple properties??? The ED dept is generally where there is a contact for them.

Political events are also where you want to be. You're in the cesspool of politics. Sorry its the truth, so take advantage of it. Hit up your community Rep's office and introduce yourself, let them know you're in RE and if they're looking or have any properties they know need to get sold......

Correction: Illinois AND New Jersey are the cesspools of politics

Found a niche that works for you but you have to network. Its a must

about 3 hours away from Chicago. I am right on the Iowa/Illinois border.

Those are some really good tips!

I just put in 16 more offers!~

It won't be until around May. I told her you said you would work with them and they are very excited to work with you.

I already warned them about your quirky personality!

You will like them a lot too. She is the "social butterfly" in our family and her boyfriend works for Make A Wish Foundation. Great and very responsible "kids". (they obviously aren't kids, but I'm the Mom)

Thanks,
Karen