Starting Real Estate Investing with Fear

I have a problem and a fear with trying to
work with re agents myself. So I started looking
for houses FSBO first on CL, kijiji.com and backpage.com

It is easier that way I just got my first deal signed.
I'm trying to sell it now.

But my whole point is PLEASE don't let fear stop you
I did for 4 years. Now I wanted it so bad, I just went for
it that way first.

Deans Book(s) have been great I'm just going to wait
a little while before I try to work with re agents like that.
I'm not saying don't do it at all because they can come
in handy.

To get POF's letter (Proof of Fund)
Google TRANSACTIONAL FUNDING there
are some 1 day funders but you
have to have an end buyer in place
and some have good prices. Sometimes you
can find 30-90 day funding.
Remember to ALWAYS FIND OUT HOW MUCH
THEY CHARGE FOR THE MONEY!

Do your reaseach on those. I have looked into
several but have not used any myself, I have
not come to a point where I needed one though.

Check that out and let us know how it goes!

Sorry So Long

It's very easy to get discouraged. Trust me!!! I know!

Those who have done it before went down that road too. All of us. At one point or another we all got disappointed and wanted to quit. I know I did want and did quit for a while.

But once you have done at least 1 real estate transaction, RE will suck you in. You will fall in love with it. The trick is to get that first deal. Whether it is an assignment, a rental, or something else -- doesn't matter.

Once you see what you can do, it will be very hard to get discouraged.

You can always come here for support. People here have helped me alot through thick and thin.

Good luck!

Yuri

Can be your biggest pain in the butt, or your best friend. It depends on the realtor you find ~ they have to either be willing to think outside the box or have the same mindset as you. If they're telling you you need to be legal, they are either doing it to protect you, or they are not your friend. In that case, just tell them, "Yes, I have checked with my re attorney, and I am good to go."

As far as transactional funding goes, coastal funding has been getting a lot of flack lately. If you have to go that route, try anything other than coastal. PML would work too, if they are available to you. Every bank is different and has different standards and procedures. I'm not too fond of the 10 day ONLY inspection period they have. If you build good repor with a local bank, they might be able to work with you on that ~ you never know. If you're transparent with this realtor up front and tell them you are offering these properties to your cash buyers, they usually leave you alone except for a pof. (or so I hear) Just make sure you have the deal of a lifetime, when you offer it to your buyers. If you do, they will buy and come back for more.

Fdirton,

I decided to do as Dean said and "interview" a couple of agents mainly because I really agree that it is great to have one on your team. On my second "interview" I found an agent on a property that was listed below FMV and was a REO. As it happened, I called him, told him what I do, was completely honest with him and as directed...told him that I am VERY LOYAL and looking for ONLY ONE agent to represent me on ALL of my deals (when I find them! ).

Here is the great part! He is actually IN THE REO BUSINESS and works closely with the largest foreclosure attorney in Birmingham and 2 of the larger lenders!!! No kidding, 2 hours ago, I walked out of his office with a HUGE list (over 100) of all of the REO's in the Birmingham Area that they want MOVED NOW!!!!...AND HE MANAGES THEM ALL!!! I he understands what I am doing, where I am going, that I am starting small, with assignments, etc...and while he DID say that these banks "Don't like assignments"...he agreed that "if the deal was right...we may get them to play ball or, WE will find a way around it."

I have let him know that I will be loyal to him (will give him ALL of my deals and my offers) and have presented my business plan, profit model and my dream for my REI business. His comment..."I hope that we take this thing all the way, together".

I was honest (told him I was starting in this business), I shared my vision (told him how many homes, offers and assignments I need to do to hit my 6 Month Goal) and I was loyal (HE's my guy). I got lucky...but as I am learning from so many great people on this site...you have to MAKE your own luck.

If I want to be a millionaire, it is going to take a LOT of work, a LOT of help and a LOT of patience. I'm starting slow, being conservative, being VERY determined and not letting speed bumps stop me. I wish the same for you, my friend.

Keep the Faith!!!

Jon

Fear is something we all need to overcome. I posted this for ALL of us here as the content is right spot on with what Dean teaches and it really focuses on what it takes to be successful, and a big part of that is dealing with fears. Check it out! Click below!

http://www.deangraziosi.com/real-estate-forums/everything-else/77283/wha...

Fdirton,

Welcome to the DG family! I know over time you will discover that Dean is the real deal....so continue on your journey. And remember that FEAR is just an acronym that means:

F - false
E - evidence
A - appearing
R - real

As DG states in many of his books, don't take your financial advice from people who are not financially successful themselves (e.g. Dean doesn't take marriage advice from his parents, who have been married and divorced something like 4 times each) and don't listen to the dream stealers. Just keep at it, keep the faith, and always keep learning and moving forward!

Happy Investing to all!

--Walter

DO IT AFRAID!!!
But most importantly .... DO IT!!!
Jay

Hi
I too have fear in this field but am interested in doing this real estate business..my friends makes me get confused with my decision..anyhow your replies makes me strength and hope these words will bring me up guys..thank you i need all of your support in these field...

As Winston Churchhill say, "The only thing to fear, is fear itself". Remember everyone in this business started somewhere usually with little knowledge but a desire to succeed. Most people will give you a break as a new investor and help you succeed and if they don't, that's their problem, not yours. I've been a real estate broker for 40 years and I like helping others succeed. Work with realtors, but find one that understands the nature of the business and is willing to go the extra mile for a return customer. Emphasize the fact that your investors will close with cash and quickly and will do one transaction after another. Be honest and upfront in what you are doing and how you are doing it, so you won't have to be concerned about being catch in a lie with your realtor or anyone else involved in the transaction.
There are several ways to show proof of funds to the seller, whether a bank or private seller. One; is to have a 'proof of funds' from your investor who you are assigning the property to and submit that document. Two; is to use Insiders Cash Funding's proof of fund documents when you are going to borrow money from them on a double closing. Or use American Cash Funding or Best Transaction Funding. They all supply Proof of Funds documents for free. There is also a company called Aamigfinance.com that will provide a proof of funds along with a bank statement to investors for a fee. Write me if you want more information about them and their services. Bottom line; there are ways to overcome every obsticle out there and there will always be obsticles. Figuring out solutions is the interesting and stimulating part of the business.

Real Estate business is full of risk but. One of the best ways to make money in real estate investing, is to look for is a property but of course it requires good knowledge for the same.
Calgary Alberta Real Estate

fear is nothing but a joke and most who try to instill it into you are cowards and are not even honest, Jim

it is very commonly noticed that people around an investor discourages him. But if you are really interested in such stuff then you must carry on with it and hire a good broker, who can help and guide throughout regarding all the buying and selling issues.