OH MY GOD! This stuff is really working!!

Congrats to you and your AMAZING find today!

That is great and awesome motivation for the group, thank you so much for sharing and we look forward to hearing what comes of these properties!!

I like how you are working it. Get those babies under contract! Maybe with the money he can get for the 6 props he will be able to pay down on the mortgage, so you can get that one too! Best of luck, and keep us posted.

Cathyb

Thank you so much for posting this. It's so reassuring! Good Luck and Continue to do a great job!
Keep us updated
Daniella

Thanks everybody for posting your kind comments and words of encouragement! I get inspired from reading everyone else's posts too.

I hope we all have SUCCESS!! Just go for it!!

Way to get in the game and take action. Its funny that the actions we tend to think are insignificant can be God setting us up for something huge. I wish you the best as we all continue on this journey towards our dreams. Keep trucking!!! God bless!

Hey that great news to hear for newbies like me. I live in the Houston area also. I'm wanting to do assignments but keep getting different information. Do you know if it's legal here in TX or not, that is to do assignments.
Good luck to you in your deals.

I'm a newbie myself, and I really don't want to give you any mis-information. I just look around on the site when I can and read others posts on various subjects and try to educate myself that way. However I will give you my OPINION, and say that I don't think so. ( The reason I think this is because I called an investor one time and I asked them about the legality of it and they told me "NO", however I didn't follow that up) I know in some states it is illegal to bring a buyer and seller together for a "finders fee", or could be construed as "brokering without a license". If you don't find an answer to your question, I suggest posting your question, I know you will get some answers!

Good Luck!

Pm me. I specialize in probate. I can help you understand the proceedure, process, guidlines and so forth with probate property. Sometimes that's all a seller wants is someone that will listen and understand their problem. You have proved that "listening" is a key factor in this business. People like when you are able to understand them on "their level", and not trying to be some hot shot big time investor. Keep up the good work. Cheers!

Awesome ken !! Just like dean says in his books FIND THE MAGIC BUTTONS ...and you are workin it.keep up your determination to make your first deal happen. don't stop taking action everyday to clench your first deal I know it's not easy working long hours and studying deans material but don't let up that focus and it will happen. keep your journal updated as your own entries will inspire yourself and others to follow through on your dreams great job kenny owens!!!!!!!!!
Jay

That is how you do it !! TAKE ACTION !!!! Put the pieces of the puzzle together and work the system.

Randy S.
Elkton MD

Today is the first time that I dared to answer to one add that I saw, and the
person that answered said that SHE BUYS HOUSES, that she is an investor, I told her that I was an investor too, buy she will not give me any more info.
Probably some of you have done this before, but how would I be able to know if
she belongs to the DG family? I would like to know if any of you have ever asked about that. I am a newbie and I am trying to do my best in this, hope somebody will be so kind to tell me if there is a way of knowing if they are also in the DG family.

I am happy for you KO and hope you get to go through with your deal,

See you soon hopefully Adamina

There are so many investors out there doing tons of different programs if any at all. I have responded to alot of different ads and it depends on the day as to whether I get a good response or any at all. I would still ad their email address to your buyers list or contact name and number and throw them whatever you get your hands on. Maybe then they will come out of witness protection! Keep going and great job to all of you for getting into the trenches!

Dude, that is some good news for us all to hear. Keep up the good work and don't give up if each opportunity doesnt work out. It will just prepare you for the next one which may be the best deal ever!!!

Adamina -

My fear and lack of experience keep me motivated to keep learning and to keep trying. I am always nervous when I pick up the phone to call a seller about a property.
But each time I do, I feel my confidence rising, it does get better, step by step.

I know what you mean about talking with other investors. For example, this morning I contacted an ad on Craigslist about an owner finance, it was listed by a "broker". I decided to call the number anyway because the property is in my neighborhood, and I'm looking for rentals for cash flow in the time being.

When the broker returned my call, I asked the basic questions about the property, square footage, how many BR, BTH's, etc.

Then I asked him straight up if he was an investor, and he said that he was. This turned out to be an interesting conversation because I asked questions about real estate investing and he was more than happy to share his thoughts and opinions. Turns out that he is also a HARD MONEY LENDER! I added him to my list!

I asked him how he markets to buyers. He told me he primarily uses "bandit" signs, the kind with the metal frame you just step on and push into the ground. I asked him if he ever gets and hassle over posting them around, and he said "all the time". He told me he usually goes to court and requests a jury trial for each charge, and since the court doesn't want to spend alot of time on these, they usually dismiss it.
I asked him what kind of credit scores his buyers need to get into the properties he controls, and he said between 620-640 on average. He likes to to do lease options with a baloon note at the end of 2-3 years. All this because I asked and he shared!
You're going to get some hits and alot of misses in this business I think. Like I keep hearing from Dean's book, it's a numbers game. When I go fishing sometimes, I will cast my bait 50 times out into the water before I ever get 1 bite, same thing here I think.
I suspect you will run into folks who will treat you like competition and not share anything with you. It's ok, somebody else will, you just have to keep looking.
******************************************************************************

Now for an update on the seller who was coming into some rental properties that he did not want, I had emailed him the next day and asked when he could, to get me as much information as possible about them. I haven't heard back from him, and I don't want to "pester" him about them either. So at this point, I went from an incredible "high" as to the possibility of getting a killer deal, to feeling temporarily bummed out. I almost have my website together, and I'm thinking of contacting this seller when I do and email him a link to my website to where he could list his info about the properties if he so desired. I just don't want to keep calling someone if they don't reciprocate interest, I need to move on to the next potential deal.

Question: I live in Texas, but am temporarily working out of state in Michigan for my company. I found a FSBO here who seemed to initially blow me off, but has since called me back to ask if I was interested.(I'd asked him what's the lowest he would accept if I offered him cash, he seemed not to believe me at the time) He had a L/O with the current tenant, who's baloon note came due, for whatever reason can't get the financing or the due balance together.
I don't have any buyers here in Michigan, so I don't have the backing to purchase for cash. I would like to consider the possibility of seeing if this seller would give me a lease option, and I turn around and rent it out? Big college town (MSU).
My fear really is, I don't live here, if I was to get a deal with this seller, how do you handle properties in areas you don't live?

network,network,network .any investing out of your area will need some time to network and create a relationship with contractors,rei agents,property managers OR you can develop a partner such as others have done in this situation.Agood example to follow would be richies....who lives in queens ny and bought,rehabbed,rented in florida.He developed a dg family relationship with denny and lea on this site and they were his eyes ,ears and go to for all that has to be done for an out of town or out of state deal.Mostly building a network wherever you want to invest.good luck and keep pounding the rei pavement !!!
ps: "bcjournal"........ is richies journal of his never give up ...out of state deal.........check it out

jay

Great job so far, and do not get discouraged. If you are going to be up in Michigan for quite some time then I would attend some rei club meetings there to meet others to build a team and you could have people you could continue to work with when your back home in Texas. You can certainly find people without those clubs it's just more efficient that way. Everyone you talk with (investors, agents, land lords, etc.) they all know others that they can refer you to. I just started building my team recently and most are very willing to share contacts.

As for the subject of Texas laws on finders fees; I saw a very recent post (last two weeks) from someone on here saying that there were laws changed on this subject in Texas as of Jan 1st. I believe that is what they were talking about "bird dogging" although it may have been "assignments", I need to find that post again. Anyway I am thinking it was finders fees that was illegal but is now legal in Texas. Definitely ask a lawyer though. Many give a free initial consultation.

Best of luck to you and thanks for sharing your story.

Steve

I have already searched the forums on here and found other investors in Michigan and have PM'd them. We'll see what happens....thanks again guys, the input really helps to keep me going!

Hi nice to know about your deal, good luck, but tell me which Dean's book are
you reading, the one you are talking about.I hope you will give me that informa
tion.. Thanks, and again GOOD LUCK....................

I'm a newby to.
I have been doing that one thing that Dean say about looking outside the box.
So I've been keeping track of the seniors that are wanting get out there homes.
Of course it does help when ya work where alot of them come in. I have been listing to there family members about what to do with the house now,instead of when the pass away.

Keep us all posted it helps at least me to push alittle harder.

Thanks for sharing your good word.

GOOD LUCK

I know you are excited and you should be. You are doing a great job, step by step, cool calm and collected. It sounds like you have you probably the most important thing mastered, and that is interacting with your clients and gathering information in a smooth way. Keep us informed about this deal. Great job.

Great job. You listened, making him feel comfortable enough to speak whats on his mind. Six other properties he didn't want to worry about. Fantastic start.