My Journey in REI

My Journey in REI

Today I ordered Your Town Your Real Estate Profits and Profit from Real Estate Right Now. I am currently reading YTYREP online until the book comes in. Friday I plan on ordering Be a Real Estate Millionaire.

Had plans to go to an REI meeting today but couldn't b/c I waited to late to register so I am going to go the one provided tomorrow just to see what it is about. Currently wondering to you have to pay to go every REI club meeting. Are there any REI clubs around that you don't have to pay for? Is this normal or not? I guess the only way to find out to start going to different ones and see.

My REI goal for May is to finish reading the first to Books purchased by 5/31/11 and attend a REI at least once a wk.

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Excited about my ride

Today I read some more of YTYREP and took a different route to Wal-Mart just to explore different neighborhoods. While riding around I found a couple of homes that may be prospects for assigning. I am going to go back to the different areas and get the addresses and try and start some research on the homes.

I would love to get the courage to ask a homeowner if they were looking to sell however, I don't want to offend anyone. I need to figure out what to say to someone first. I am excited about the homes I found tonight.

My REI goal for May is to finish reading the first two books purchased by 5/31/11 and attend a REI club meet at least once a wk to make some REI contacts.


Great to hear you're reading

Great to hear you're reading and learning about REI. We pay for our local REI club. It's well worth it. Good topics and meeting other investors are a great way to get started. Good luck with the rest of your books.
Cheryl & Dave


Thanks Baheny

I think I am going to join a REI club this Friday. I don't really have the money for the membership rt now but will have it this Friday. I also plan on ordering another book this Friday also.

Thanks Cheryl and Dave


Antsy and ready to get out there

I am so ready to get started it is hard for me to go back to reading. I just want to jump out there and start doing deals. Well, at least start putting in offers.

This morning after dropping the kids off to school I did some more riding around and found 7 more distressed properties. I would still be out there rt now if it wasn't for my baby wanting to get out of the car seat. Once the ruler of my house started crying I knew it was time to head back home. Now all I want to do is get back out there and find some more homes I can do a little research to see who owns them and send out letters inquiring about selling them.

I don't know what I am doing but I am tired of sitting around I am ready to get my feet wet.

Now I have questions
Should I start assembling a team?
If so what professionals are needed to start doing assignments?
I have some questions about exit strategies for assignments and really want to know the low down on them
What are the ones commonly used? and What happens if you don't sell the home or find a buyer? Do you have to purchase the home then?

I know I have alot of questions but I think it is b/c I am reading the wrong book for assignments. I have done a little reading on this website and found out that I need to be reading Profit from Real Estate Now and Be a Real Estate Millionaire.


Still trying

Yesterday I got in contact w/ a realtor who has connections w/ other REIs and REI professionals also. I don't really think he understood what I need from him but we are suppose to talk again today or Mon so he'll get a better understanding. In the meantime I will be interviewing other realtors to try and find a good fit for me. I guess I am in the process of building a team. Besides trying to find a Realtor I need to also find a RE Lawyer, a title company, some buyers, and a contractor to do estimates on repairs when it comes time to check out homes.

I have found 17 homes that I am interested in assigning. I have done some research and found the addresses to the owners and will be sending out letters to the owners today. I will be looking for 8 more over the weekend.

I have started reading Profit from Real Estate Now. There is some great info there. Glad I started on this book. Oh I still have to purchase Be A Millionaire Real Estate Investor. (I hope that is the title lol)

I must say I am moving right along and can't wait for it all to pay off.

My REI goal for May is to finish reading the first two Books purchased by 5/31/11, attend a REI at least once a wk, and contact at least 25 homeowners per week about assigning their homes.

ps..this seems like alot but I am actually enjoying every min of it


Keep pushing on

Just finished Profit from Real Estate Now yesterday and purchased Be A Millionaire Real Estate Investor. I will start on that tomorrow. I am making calls to try and get my team together. I guess tomorrow I need to put something up on CL to help find some cash investors since I am trying to do assignment of contracts.

I haven't been able to contact at least 25 homeowners per wk so that is my goal for this week also.

I did join a REI club today Yay me!!!!! I am so excited to go to my first meeting. I am ready to network and make some contacts.

I have also thought about Plan B. If assignment of contracts doesn't work for me I was thinking that maybe I should find out more about HMLs to purchase and hold properties. I am wondering can I get approved for a HML even though I have no income and haven't worked for yrs? Just a thought.

My REI goal for May is to finish reading the first two Books purchased by 5/31/11, attend a REI at least once a wk, and contact at least 25 homeowners per week about assigning their homes.


I forgot to mention

That I called to RE attorneys today or at least I thought they were RE attorneys. One didn't go so well but the other one was ok. I am going to keep looking though b/c I haven't found one yet.


That's great you joined a

That's great you joined a REI club. See if someone would give you a reference for a RE attorney through the club. Keep moving forward with your goals!


Frustrated Today

Man, I have been looking for a realtor for a while now and I keep getting "I don't work w/ investors", "I don't work w/ new investors", "I am not a good fit for you", "I don't see the benefit of working w/ you" and a bunch of other crap.

Just in case you are wondering I have connected every realtor on my REIA Vendors list and only one has called back and even he wasn't interested in working w/ me. Like WOW really!!!!!

I know this isn't going to be easy, but anyone else running into the same problem I am.

Oh yeah, I did forget to mention the one who wouldn't mind working w/ me if I was a cash buyer or had cash to purchase properties. He even suggested I use my husband's IRA not b/c we don't have one and the other suggestion was to get a HML. Not interested in doing that either. I am looking to do wholesales w/out using any of my own money or taking out a loan.

So frustrated but still trying.


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