2 strokepower


All About sully

sully's picture
Name: 
joseph sullivan
Location: 
pennsylvania
About Me: 

I am new with Investing in real estate, I'm kind of just trying to get my feet wet.I have been looking pretty hard for my first deal,but it's hard since i have a number of things working against me such as: credit issues (terrible credit) oh and No Money to start with.So at this point i'm trying just about anything (meaning re-assigns,possible partnerships?)

the trouble with not having a GOAL is that you can spend your life running up and down the field and NEVER score...SULLY

Interests: 
bowling,baseball,football,dirtbikes(2 strokes)

Topics I've Participated In

TitlePosterRepliesUpdated
Getting Started Need Some Advice frymissy2162 years 19 weeks ago
Assigning question benbeka4422 years 29 weeks ago
How to Attract Investors to Assign to Your Deals Madison4092 years 30 weeks ago
Paying a Realtor in a Wholesale Assignment nstreet462 years 33 weeks ago
What Is Owner Financing Anitarny1242 years 38 weeks ago

Basic Info

Occupation: 
finance manager
Children: 
Have Child(ren)
Education: 
Completed High School
Status: 
Divorced

Sites I Visit

Mainly Just This One

Guestbook

Subject 2

sistreat's picture

Sully...I am embarassed...can you explain Subject to and how that works?
What contract would I use to do Subject 2?
Yes...I will name the Sully 1 and Sully 2. LOL!

Tried the PM but couldn't figure it LoL

Thought I would add you to the friends list (if I can find it) so I could get in touch with you easier I like your ideas and what you have had to say to others on the site. I am very new to this and just trying to get a handle on everything - do you belong to a real estate club in your area? Just one of many questions I have but haven't had anyone to ask - there are none in my area and I am not sure going about starting one. Well let me send this off - Thanks for reading KD

hey KD

sully's picture

I'm glad I teach you something, I will be joining a REI CLUB once i have the funds to do so, see every time i have the money to join i end up spending my money on advertising, or another business expense, but in time, i will join, if you have the time to put a CLUB together, good for you, get started then!, SULLY

REI Clubs

sistreat's picture

In my area there is not any real estate meetings. I have ran ads on Craigs List announcing that I want to start a REI club and had about 15 responses the first week the ad ran. People in my area want one and are still emailing me asking when and were.
I have a nice big building with a big commercial style kitchen...my church said I could use it any time I want to for real estate meetings.
Only problem is I am not a speaker. I made a "A" in speech class in college but I am not a real estate speaker.
I would have to find a weekly or monthly speaker to speak on certain topics.
Real estate meetings and clubs are really a valuable asset for being an investor. If you can make it to one that is affordable it is great and will help you so much. Most of them charge way too much though.

yeah sissy....

sully's picture

Agreed, i think that REI clubs are probably the BEST way to not only market your "NEW" business, but also meet ALL sorts of different investors, from REHABBERS, to WHOLESALERS and "PRIVATE MONEY INVESTORS" to fund your deals, cant wait till i finally get a chance to go and become a member of the one thats near my house, SULLY.

Of course.....

tanRealty's picture

It was so very helpful. Thanks for all your help. I was so insecure about what to offer (should I even make one). Thanks again Hero.
Tamzen

hey sully my name's temeka shaw

hey my name's temeka shaw and i need a little help i'm a new member and do know where to start my credit is very poor i have bankruped can you please help me

Hi Temeka, what would you

sully's picture

Hi Temeka, what would you like me to do for you? SULLY

hi temeka again

hey sully i just wanted to know where to get started at my credit is very very bad and i can't get a loan from anybody can you help please thank's temeka shaw

Hello

I am in desperate need of help, I need to make some money. I read the "Be a Real Estate Millionaire" book but I need some more couching... I have 30 days to get out of my apt and need to make some money to possibly buy a foreclosure or something. I have a 11 month old and he needs a place were he can be a kid. How do I start?

Getting to know Sully

I have seen some of your posts in the past, and just read your bio it seems for the very first time at the top of this page. It obviously is old, because you say you are new with RE investing, yet you are a DG superstar. You have come a long way since March of this year (2008). From your posts, I also see you are a "no nonsense" type of guy. You have done successful deals, and have shared your knowledge with others. I hope to go back and read more of what you have written, and learn and be inspired to go out and take action. You are truly deserving of many people's "Thanks," and I am sure will be having a number of people continually thanking you for what you have shared on this site. I give you my "Thanks," and wish you a Happy Thanksgiving. Pas. Greg

SULLY: CLASS IN SESSION, SECESSION, SUCCESSION

Rina's picture

Sully, you crack me up. I just wanted to say I love reading your posts. And, like Pastor Greg said, it is so cool to know how far you have come in REI. I am very proud to be your DG sis, and I thank you for how much you share with everyone. Sometimes we girls just shake our heads at the guys' egos, but you know what? What would we do without you?! You're always here, willing to give an answer. Smiling The DG family is so blessed to have such awesome people contributing. Thanks again for all that you do.

Love ya lots!

Rina

Illegal?

Taketheshot's picture

my friend at a title company told me that double closings, also called flips, are highly illegal. Any advice? I don't think he's right but I'm a green horn and he has been more knowledge of the process than myself..I'm asking in regustds to assignment clauses. Any help would greatly be appreciated! Thanks!!!!

Vaughn
-Taketheshot

sully i need help getting started

Sully I'ved read the book but here the thing i have no job no money and poor credit what do i do now.

Just Purchased Dean's Book

Hi Sully,
I should be receiving the book sometime this week of December 21,2008. Just wanted to say I have been reading alot of the posts and you are very popular. I see that you don't mind helping others since you are knowledgeable. I plan to read all of the book before I ask for your help as you stated in some of your posts to others. Helping others is very important in life and your heart is in the right place. I look forward to receiving your help also.Keep up the good work. Take care and God bless.

Wholesale Properties....

Conny's picture

Hi Sully,

do you have any properties under contract? I have an investor desperate to buy more SFH.

Let me know, please. Thank you.

Conny
connywolfram@****

hello joseph i know how you feel ,,,,,

I was hoping after reading all of your post we could discuss REI in greater detail I have not had a chance to read dean's book yet but I will be getting it in a pdf hopefully soon,,,I have no money to start with and my credit is shot ,,but what I lack on paper I make up for in drive I feel if I can land one good re-assign and walk away from a deal on the closing with like 4-5k in my pocket I can fully get myself aligned with REI as a whole I honestly need guidance and at this time have no bills in my own name just my phone gas and I have child support to handle ,,I know this is going to reach you at christmas and I appologize for coming to you like this I just hope maybe with your help you can guide me to my first deal and we can possibly split the fee together my e mail is TWIZTED76@**** AND I hope to hear from you soon thank you in advance for your time and info . Thanks patrick streitmatter

Help

First hello and congrats on your success. I got Deans book and then joined there success team on Nov.4 but haven't received any emails since Nov.8.. I emailed them and haven't herd back. Do you know if anyone else has had this prob. I feel lost.

Help

soon2bmillionaire's picture

Hello Sully, My name is Angel I want to know if you can help me with wholesaling I read some of the be a real estate millionaire book. Can you lock down properties from MLS? I need a mentor to help me out. I kind of understand the real estate wholesaling part but I stuck on the contract part. Which contract do I give the seller and which contract do I give the buyer? Can you tell me step by step what you did for your finder's fee. I already have a list of foreclosures in my area. Thank You

Angel......

sully's picture

If your "Assigning" the contract then, You will be signing a contract w/ the seller and then essentially selling that contract to your "End Buyer"(Another Investor). The ONLY time their will be 2 Different Contracts is when you plan on doing a "Double Close", SULLY

Finding Real Estate Inventors

Hi, i am really interested in finding real estate investors but it is a little hard in the area i live.i don't know of any!i live in New Jersey,Bergen county and it is difficult to find.Dean's book is awesome and i want to get out of debt.my husband had a heart attack of apr. last year and that put us in a nightmare with money!credit is very bad because of it,can't get credit cards to due some of the programs that dean offers.so right now i am looking for helpful hints as to how i can help finding real estate for investors and earn money until i can do better and move up the real estate ladder! thanks for your help in advance.

Getting of the ground and running

Cubame17's picture

Sully,
How can I get a property under contract with not credit?
How long can I keep the property under contract while looking for an investor?
Where can I find those distressed properties?
Do I need a Realtor to go under contract?
It's a Finder's Fee illegal unless you hold a Realtor License?
You can see for my questions I'm very new at this, but at the same time I'm willing to learn all I can.
Sorry for asking to many questions buddy! Puzzled Puzzled Puzzled

Thanks in advance
Federico

Getting started

Hi Sully,

I just starting with dean's course and wondering if you had any insight on PA.
Thank you,
Anne

Hi sully

I hope you don't mind me writting to you personally but you really seem to know what you are talking about and I am so new that I can really use some help.
just finished reading Dean's book and am eager to get started. I found a home that is going to auction in 6 days. Now I feel like a deer in headlights. How do I go about approaching the home owner?
And furthermore, if I approach him is it possible to stop an auction that is set to take place 6 days from now?
I have no money down and I would like to lock it up on contract. I have no prospective buyers but it is a great deal.
I read one of your posts about calling a WE BUY HOUSES company and it seems like a great idea but I don't completly know what to say to them when I call.
Do you have a specific dialogue that you usually use that works well for you?
Like I said, I am new and want to start off the right way.
Thanks so much for any help you can offer!

Brian

Hello

I know everyone is asking you a lot and I am sure you get tired of everyone asking sorta the same questions But I went through all the post and I got bits and pieces for my question BUT I wanted to ask you about investors and whats the best set of questions to ask ( I want to come off and someone who has done this before) So is this a good set of questions.
1. Do you pay a finders fee?
2. How much of a % do you pay?
3. What are you looking for?

IS that basically all that I need to ask?

hml -- hard money lender letter

missnoble's picture

hi sully, i read something about a letter that i can use with my offer, called hard money lender, which was stated,they will not do a credit check, to see how much funds you will be getting and also if you use the letter you do not have to actual get that loan. can you tell me more about this? thank you so much

Hi we are new here.

Regina Santos's picture

Hi Scully! My name is Regina. Just writing to say hi to someone here had read some of your stuff so figured I'd start here. Hope you don't mind. My Husband and I just started reading Deans book and I just signed into this website and started checking things out a few days ago. We are very interested in "doing it" but have no clue (yet Smiling) Got a phone call to join the academy but are scared to spend the money without knowing more about it so we plan to ask the caller more questions. We just moved to Aiken SC last June and hope to make a living with REI. I will put a bit about us in my profile soon. We are just hoping that joining the Academy will help us as we need to do this asap! It is very scary when you don't know much about real estate on top of living in a new state and not knowing anyone. Any insight on joining the academy would be great.
Many thanks Regina
P.s I am sending this same msg to a few people here so I can learn Smiling

New At This!

MyDestiny's picture

Hi Sully, I see your having great success with this program. Just wanted to know if you could advise me what I should do next to get started after reading the book. I don't think I will be able to come up with the money needed to get into the support program any time soon. But I want to stay motivated and on the right track for success with this program. Thanks!

Just a couple questions

You seem to be quite popular!! So I'll try to make this brief! I am fortunate to live in a community where there is lots of turn over as far as real estate goes! I am just getting started an I am wondering what you would recommend that I start out with as far as real estate goes? I would like to try and do this with no money out of pocket to build up a little savings fund if that makes sense! I am sure you have answered this question several times? Would you reccommend foreclosed properties and if so how can I go about finding them in my area!

sully

Really nice to see you back online and posting, you have posted some great information which has helped me a lot. Thanks!
Hope all is well in your world!
Angela

I need your help.

I saw your posts. I am in DESPERATE need of you help. I am 19 years old. I am starting college this fall. I have about seven hundred dollars. I work a minimum wage job and I only make about two hundred three hundred dollars a month. I was reading what you were writing about being a house maker. Can you help me out? I see the signs, "I BUY HOUSES" around my city just outside of Sacramento California kind of near San Francisco. My area of location is really nice. And I have seen some foreclosures on some really nice houses. What do I do to get started? What did you do step by step to get to where you are? And have you had any success? I need help please. Guide me

Help me

I am 19 years old. My name is Brandon. I have only seven hundred dollars with no credit. I am in desperate need of your help. Can you please help me out? Explain to me step by step what your doing and how you got to where you are now. And have you had any success with your current methods? Please help me. I see all these "Sell your house", and "I buy ANY house at ANY price" ads. Do I call them? What do I do with those people? PLEASE HELP ME!

My email is brg5734@****

hi

casper18nyc's picture

hi sully i got a question how much would they charge to go to dean coaching???

Overwhelmed

LBreuer's picture

lol! Oh, so overwhelmed! Overload! Reading, finding, calling, and yet not sure what comes first, the where to start! I supposes more reading of the books, to understand better. Not finding which direction to go that would be best for me and my area. Foreclosure, REO, FSBO, lots of ads and such around. But still need to read more to get UNconfused, haha. Your posts are very informative and helpful. These types of posts with others helping others to get started are absolutely THE best and what keeps me motivated and knowing that it will happen for me also. (and my husbands "you can do it" attittude, haha. Thanks soooo much SULLY.

LB

Help Please

Ok I have a property and a buyer what should I do now what forms need to be filled out?

Lease Option

Sully
I know that you wake-up every morning with a big S on your chest...Super Sully The Great!
You have been such a huge help and encouragement...thanx so much.
I'm in the infant stages of RealEstate and consuming the milk every day.
I am ready to bust-a-move on a duplex.
The duplex was built in 06, the owner lives out of state, she wants to sell. Her current mortgage is an ARM and she said she will soon re-fi. Don't know anymore details than that.
I need to take ownership of this place with no money down, my credit is ok but not the best.
Q- how would I structure a lease option offer? Any Idea's???

Sully

John A's picture

I just realized that your not too far from NJ, what part of PA are you from?

Your friend,
John A

California Investing

jcardona's picture

Hi Sully, I have read most of your informational inputs to many questions. I'm in N. California and I'm new at Investing I haven't even started yet. I wondered if you can suggest some idea's I can get started. I one of many with no job and no good credit so I'm would like to start with assignments or finder fee. I read Deans first book and finishing the second one. I think I just needs some tips on how to do this right and not screw it up for myself. If you can help I would appreciate it.

Jeanette

Lease options

DFand3Kids's picture

Hello Sully.
You get A LOT of questions I know and I don't want to add to them but I need too. Have already been doing a lot of studying so I only have one weak area for Lease options.
We have an ad in the paper designed to attract buyers with bad credit, no credit, and/or only have small down payments available. This is lease option territory.
Our buyers list is growing and I have had a lot of interesting conversations with buyers and sellers because of it (an education in itself).
I know what they are looking for and where. Now the only area is how to find the properties. We want to do sandwich lease options. The questions are:
* What kind of situation will allow a property to come under lease. I know the ideal is an FSBO but will the banks do it (REO's)? Short sales etc...
* Is there any reason why I would have to allow the seller to have any knowledge about our end buyer. I want two separate transactions. One with the seller (we lease from him) and the buyer (they lease from us)
* How do I get the property under contract with the seller so I can show prospective buyers BEFORE I enter into a lease contract with the seller?

Thank you for any help.

Debbie and Fred

Hey Sully

John A's picture

How you doing bud w/REI? I posted an topic on this but I didn't get any answers yet. I know you have a lot of knowledge about REI so I should ask your opinion about it,or if you've done this already.

When I get a good deal locked up & I have an investor that has the money to lend. I do an A/C with the investor. Now here's what I need to know.....I have a person who is interested in the property but has no money, so I introduce him to the lender to borrow the money, to either flip the house/sell it after to pay the lender or keep it & re-finance for himself.

I do two separate contracts one with the lender to get my 10% and another with the same lender to assign it to the person taking over the property even thou he's not the official buyer, he's just borrowing the money from the investor to have title of the property for whatever time he chooses.

Let me know if you got all this & what your response is in this aspect. Can it be done?

Your friend,
John A.

Sully, your the man

I just purchase deans book and will start to read within a month. But I must say your information and tips have really motivated me. I am also a beginner in investing in real estate. Was it really hard to get started? And also, have you seen a profit in doing reassigns? Pacino88

Sully, your the man

I just purchased deans book and will start to read within a month. But I must say your information and tips have really motivated me. I am also a beginner in investing in real estate. Was it really hard to get started? And also, have you seen a profit in doing reassigns? Pacino88

hey Sully just wanted to say

SpencersInvesting's picture

hey Sully just wanted to say whats up and see how your progressing since you joined this site?

Sully

Park25's picture

Hey Sully I'm Michael Younghanz from Kansas City, Missouri. I've seen you've been quite the help for others. I've read the book, got yard signs and magnet signs for my car, and have a toll free line... I'm also working with my uncle who is a realtor. What I want to know is, in the assignment of contract deal, who talks to the lender of the potiental seller? I also thought this was a "NO money down deal". Do I have to put a down payment down because I dont have it? I just graduated from college and definatley dont have any money. Also, The seller comes out of the deal with their equity (if they have any) and their undamaged credit and thats it, right?

GETTING STARTED!!!

Im new to this whole real estate thing. All of the info in the book was just thrown at me and I don't know where to start.Can someone point me in the right direction?

can u help me

Hi i just got Deans book and need some help getting started?Do i need to get an agent to close?What if i find the property myself do i need a agent to close?who pays for the agent also,where to send paperwork?Thanks
for your time

need a little help.

Hi Sully,I'm new to investing and i need a little help getting started.I'm reading the book and I need some help understanding about assignments and what chapter explain how to do them.I have no money because I was lay-off from work and have very poor credit.Please reply to me or call me @ thank you for your help in advance.

greetings

thewillie69@aol.com's picture

im a new investor seeking knowledge and trying to build long term relationships,,,

halp!!!!

brendan's picture

ok sully i have been in contact with an agent who is sending me more deals than i can handle, a flood of deals are out and i wanted to know if assingments are still legal and also if i use an lease option w/clause and rent it out so it not only covers the lease but cash flows and i want to keep the place for a future house for myself , how exctly do i go about doing that with an agent?...i mean doesnt she have to make some cash at closing?....im trying to get the house with no money down ...

buyers

hey sully. i'm new to this gig, but while i was reading Dean's book, i realized a potential property was next door to my house! i talked to the guy and he wants to sell with no realtor. everything is falling into place, but i wonder if i have a correct FMV. i used an online source and i was then contacted by a real estate agent in my area giving me a $30K range of value. the sellers asking price was at the very bottom of that, but i think i can get him lower. if so, how do i quickly get a buyer? remember i am only one day into this.(i read the book in a day) pre-thanks for your help