Scared to death of my first deal.

Are the detais of the property and the price? Why is the owner selling?

you are scared because you are human! You are at least taking action and not just learning about it like me!! I am so scared to try this for many reasons! My nearvs always get the best of me. Keep up the great motivation and let me know how things go!!

scared as well. It gets easier after the 500th tranasaction. Just keep pluggin' away.

Nick and Nicki: I just can't take no for an answer anymore. I have to stand up and say, 'Well this is how it is. I can help you if you let me.' I'm a helper by nature. I help and protect people in many ways. Some are afraid to ask and most think I can't help them till I show them. The fear is kind of weird for me. lol My advice to you guys is to stand firm and know that you are helping many people in doing this job. More so than the government will. Stand tall and speak with confidence!

Lane: I haven't even started the paper work yet. I'm looking at it tomorrow and then making an offer. I found out he bought the property For 90,000 in 1987. He missed his chance to make money during the rise and I think he is kicking himself for it. He has no clue that I have been given some tools, (thanks to Dean), to find this out... He wants $150,000. I listened to his story. And let me tell you this much,,,, it was like pulling teeth from a child!! He had no thoughts of talking to me about it at all. Then I got him to open up. I don't even know how I did it other than just standing my ground on knowing he had a story to tell. At the end of his story I found out that he just bought a new house and hasn't even put it on the market yet! What a gem!! I'm thinking of shooting a real low offer in just to see how he takes it. I was thinking $120,000 or $110,000. Then pitch it to my buyer for $130,000 or $140,000. ARV is about $170,000. I think this will give me tons of wiggle room on both side of the deal. What do you think?

500 deals!!!! Awesome job!! I'll be so happy when I hit that!! The first one first though. I need to read all that I can on the contracts somewhere and find a title company though. I think that's what has me scared. Ya know what I'm saying?

He will never accept your offer.

if the ARV is $170,000 you need to offer $85,000 or less. $110-$120 is not a good deal.

LOL!! I know,, it sounds crazy. But I need to come in low and see what he'll want to do. This is how I'm looking at it. He already knows he has to come down on his price from our talk today. I know the area the house is in very well. He is going to have a hard time selling this place. He even knows it. He is really wanting some cash in his hands,,, NOW. My buyer wants to create cash flow. He will rent it out and sell when the market goes back up. I think I can pull this out of my hat, as long as I can hold on to my hat.

Be positive! Keep us informed!

Do you really think I should go lower if the house is not damaged? Remember,, I still haven't seen it yet. He says it looks good enough to sell, but at what price is it really going to have to be is what's still on my mind. I don't want to insult him with that low of an offer till I see it. If it's really a 'fixer-upper' then I will be honest and tell him that he needs to think about a lower price. In the same respect, if I have to acknowledge that the property only needs paint.... I'll have to bid higher. I'm just looking for a piece of the pie. Not the entire thing.

you are not trained to find "Good" deals, you are trained to CREATE "Amazing" Deals. Your formula should be as follows.

ARV x 85%

-Repair Costs
-$20,000 Profit for your buyer
-Your assignment fee

Max Offer = $$$$

Start $3k-$5k under your Max offer to show that you can come up. But never go over your max to get the deal done.

Move on to the NEXT!

http://www.sflblueprint.com/page1.html

the information you have shared is AMAZING!
The 6 page real estate blueprint totally caught me off guard. I am excited to spend some time watching it!
Thank you for clearing up 'The MAO' Question & the Link.
Very Helpful!!!

Go Wayne73 Go!!!! Way to take the Bull by the horns and tackle this potential first deal before you even get your blueprint (Dean's book!!!) LOVE IT, that's the drive that will make you successful!!

And Thank you Lane for the great reminder that we need to be CREATING amazing deals and not just finding GOOD ones!! Well put, that's a great mental reminder for me right now - still itching for my first deal to close and making sure I'm not settling and PUSHING for that Amazing deal! Plus, I KNOW that when I find that AMAZING deal, my buyers will be stampeeding to take it off my plate!

Love it guys, have a great morning and week!

Let us know how it goes Wayne73!

Renae

I think it shows that you have some common sense to be scared; I mean you have to know what you are doing, so don't rush it! Also it is good to have your bio filled out. Also there is a post here on anything you need to know, so start searching.

I think I understand what you are saying Lane. "AMAZING DEALS" I'm meeting with him tomorrow to look at the house. He said he was not able to meet me today. I went over there and found 4 other properties I might go for after I talk to him.

I found one that the local kids are using for a 'fort'. They said the people moved out 3 months ago and now they hangout in there. I told them not to tear it up to bad,,, because I may be buying it. LOL One of the kids freaked out and started saying he never went in the house.

If I can pick that one up for $30,000,do you think that may be an 'AMAZING DEAL'?I really should have gotten overnight on the book.

and it is completely normal because it is the 'fear of the unknown' and the 'fear of failure'. But, whether it all works out or not is not what's important here. What you need to focus on is that you are taking action and moving forward despite being afraid. The ONLY thing that you should really be afraid of is NOT DOING ENOUGH TO SUCCEED! And, it is guaranteed you will fail on your journey. But what's most important is that you take those 'failures' and not look at them at failures at all; but rather learning experiences, get back up , wipe yourself off and do it again. One of those times, you will succeed! It may be your first try, but it may not be until your 100th attempt.

I am wholesale one right now and I do not want to let my seller's down; but it isn't the easiest house to wholesale because the layout is the major flaw in the house. It isn't really a fixer at all, but the layout needs rearranging. Someone has to have really good spacial reasoning to see the finished product through the current layout. I have superior spacial reasoning, but many other people do not, and only look at it for what it is right now, so it makes this wholesale especially difficult. But, I'm looking for other ways to present it.

You'll get your book soon, but in the meantime, this website has all the information you need. You can search the site and find the answer and if for some reason the answer isn't already there, just ask and you'll get response here. Way to get out and take action; DON NOT EVER let fear stop you, and you will succeed. If you can't remember the last time you failed, you aren't doing enough. (I believe Dean said that)

So keep pressing forward and do it afraid (Carol Stinson)

Every day in every way I am getting better and better! NOTHING will stop me!

~Tammy