OfflineWhat we are doing here in Denver is proof that what Dean teaches works in ANY market. You just have to know and adjust to the LOCAL marketplace.
There is an EXTREME SELLERS market here. Multiple offers going to highest and best. Formulas that worked last year are not working now.Not even close
Our best deals are coming from off market sellers. Probates, pre foreclosure, out of state and absentee owners. We had to double our marketing efforts.
MLS offers are coming to us at a % of list price. We are hitting 25-1 on the MLS at 85% of list. Then we are selling to buyers off the 90 day cash solds list. THIS WORKS!!
Net profit for March and April so far is over $60,000
Thanks Dean!!
Michael
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
Outstanding Michael what made you pick this particular market?
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
Did Dean specifically teach you about your local market?
P.S. - Everything else is immaterial, irrelevant, and unnecessary.
Paul in "be a real estate millionaire " Dean covers how to analyze a market both in a national level and to a local level you chose to pick .....
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
Buy at 85% and still flip for profit! The people in my area still want to buy everything at 50 cents on the dollar. I Must have been talking to the wrong people. I've been knocked down for a while now, time for me to get back up!
Great job M&D!
Joel,
I live here! That is why I am working this very difficult market. We also wholesaled 9 properties out of state during the same time period. So we are working locally and continue to expand nationally!
Paul,
Correct, Dean's teaching and instruction provided me with the knowledge to analyze any marketplace. It is not rocket science, the basic principles of supply and demand apply, but I knew nothing about REI until I read Dean's books and got some of his higher level training. Six years ago today I was still working my J.O.B. and the only thing I had done in RE was buy and sell my primary residences.
So yes, Thank you Dean!!
I give all the credit to my Lord and Savior Jesus Christ. He is the one that put me together with Dean. This I know!!
On to the next one!
Michael
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
Remember, the market in OK City is a little different than Denver. But there is a lot of competition. You want to get that list of cash solds in the last 90 days. That way you can add the people that are paying all the money to your buyers list!
Michael
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
Ok I see it makes a lot more sense Michael.....
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
Hi Michael
Congrats on the continued success.. I've been really focusing on off market
Properties, but my challenge has been getting reliable comps in a timely manner
for the property. Realtors Havent been to eager to help me since they aren't playing a role in the
Deal... How do you get fast reliable comps on your deals? Or is there a reasonable
Compensation you would offer realtors in exchange for supplying me with
Comps?
Thanks for your help and encouragement and congrats again : )
Jordan
"You gain strength, courage, and confidence by every experience in which you stop and look fear in the face. Do the things you think you cannot do. Tough times never last, but tough people do"
Even though they are not as accurate as a good CMA from an agent, you can use Zillow, Truila, Redfin, Realtor.com and Total View.
Once you have closed a few listed deals with your agent, he/she will be glad to look up comps.
You could offer to pay them commission on the off market deals they do work with you on.
Michael
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
Can't help but read your posts about your success and smile bro. We have a few things going now but hope to have a little more fire up under us after The Edge.
SEMPER FI
GET SOME!
Looking forward to seeing you guys at the EDGE TOMORROW!! Wow, it is amazing how the time goes by. EDGE time! See you there!
Michael
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