OfflineHi I am new to DG's family about 4 months now. I am very motivated, knowledgeable and eager to make realestate work for me. I HAVE to or we will loose everything. We have hit rockbottom and I don't want me, my husband and our 3 great boys to be another stat of this horrible ecomomy and lifes set backs. Im getting discouraged with the whole process and have not been able to make a dime. I am only looking to start out small like a few hundred dollars and work my way up the ladder to thousands. Every idea I have read or heard I've tried to the max and NOTHING. Just not getting any closer to our financial goal just behind 3 more steps. Sorry for another sob story maybe some good advise where to start over again will be my better LUCK!! Thanks for your time. Donna
Do you have buyers?
Are you looking at investment properties? Not move in ready?
Do you know how to determine true ARV? What the property will actually sell for?
Do you know how to determine rehab/remodel costs and what work is needed on a property to bring the determined ARV?
Have you been making offers?
Do you go to every REI meeting that you can find?
Do you have buyers?
Do you know how to make a professional presentation to your buyers?
Have you met any other wholesalers?
Have you put out and continually put out bandit signs?
Do you call and door knock people in pre foreclosure, fsbos, for rent, drive by estate sales, yard sales, moving sales??
Do you have buyers?
Do you know how to put together a sandwich lease with option to purchase?
Do you talk to sellers, realtors and fellow investors?
Do you go and look at properties?
Do you have buyers?
If you answer yes to these questions and you are doing it FOR REAL every day, out from behind the computer and you are getting no results that you will have to invest in another area (I doubt this is the case) You can't put out bandit signs 2 times for 2 weeks and say it doesn't work or look at 3 houses and make offers and not get them and say this does not work. We make about 50 offers to get one accepted.
Rule number 1 for REI. No offers NO chance of making money
Rule number 2 for REI. Offer on the right properties and at right price
Rule number 3 for REI. Have buyers
Rule number 4 for REI. Take action in the real world.
Hope this helps!!
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
I really DO appreciate all your ideas. I will start on them right away step by step day after day. Thanks for all your advise Michael and taking the time to reach out to me. Donna