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We are fam-i-ly!  Look Newbies! DealMakers Cafe- A place to call Home.

#41 User is offline   yacht_boy 

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Posted 14 May 2002 - 11:27 PM

You quit  :) and  :fl1: at the same time???  I had a hard enough time with the first one!  If you can do that, this RE thing will be no problem at all.

YB
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#42 User is offline   Joshuaa3 

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Posted 20 May 2002 - 03:02 PM

Hi my name is Josh, I'm in VA, first time posting. I've been reading everything I can get my hands on about real estate since the middle of feb. I am about to close on my first rental property in the next week or two. I've been marketing with bandit signs-which are getting alot of calls,both complaints and sellers.  My goal is 10 real estate transactions this year. Currently working on my business plan to get a line of credit, and have a couple deals in the pipeline.

Deal A.  Out of town landlord, payments of 534mo, rents for 555mo on a mo to mo lease. asking 70k appr 66,708 has bought a new roof,new water heater,new sidewalk,new heatpump within last 2 years,was worried about losing va eligibility if I assume loan, my offer: buy on land contract with balance due in 5 years, holds 2nd of 9k for 15yrs @ 7.5 int
exit: retail with no bank qual owner financing w/buyer refi within 5yrs or lease option

deal B.  townhouse 3 houses down from prop I'm about to close on. owe 51k appr 59k he was real worried about owner financing (need to work on my presentation), but I will be able to make the same deal as prior with 500$ payments and 625 rent income

deal c.  owners sister called on a sign, her brother has a house he wants out of bad, will probably just want to wash his hands of it and move out, left mess for brother, sounds like a quick close with owner finance will work

deal d. house appraised at 72k  52k owed, middle of divorce, told her how we worked, quick closing sounded nice, owner financing sounded fine, has to talk to ex and figure out a place to move to

deal e. real estate agent called that does short sales, wasnt sure where he wanted to go with this one but he said he is able to negotiate these deals reg. I'll be talking to some of the investors at the REIG tommorow night to get a list of quick cash people, hopefully soon i will have my own line of credit also :dance:
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#43 User is offline   madrymeg 

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Posted 20 May 2002 - 04:14 PM

Hi Josh

Where in VA?  I assuming nowhere near me based on the prices of homes.  I would have a heart attack if homes were to go for those prices.  But still interested anyway?

Paula

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#44 User is offline   The_Motivated_One 

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Posted 20 May 2002 - 05:00 PM

Hey Josh!  Welcome to the Cafe!

Wow!  You have been reading since Feb!?  Good for you to get out there and not get caught up in the reading trap and take a seat on the fence.  Please keep us posted with all of the deals your working on and let us know if you have any questions.  Great job!

TMO
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PS- If you would like to enter a Contest that ends Thursday, just let me know.
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#45 User is offline   cmajors 

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Posted 03 June 2002 - 09:27 PM

Hi.  I'm a newbie who is trying to get off of the fence.  I just found this forum today and have been reading through it.

One of the things that have been hanging me up is what to say to people when I call on newspaper adds.  Then I run across this thread from The_Motivated_One about a "Newbie Newspaper Call Blitz" Thread.  I have just started reading today but so far have been unable to find this thread through the search engine.

I will start reading the Archives tonight, but any help would be great.

Thanks
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#46 User is offline   yacht_boy 

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Posted 03 June 2002 - 10:03 PM

Glad to have you aboard!  The post you seek can be found by clicking this link!

Happy reading!

YB
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#47 User is offline   The_Motivated_One 

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Posted 03 June 2002 - 10:43 PM

cmajors,

Welcome to the Cafe!  It's great to have you here.  I'd be happy to help you off of the fence, and I know many other people here at the Cafe will also lend a hand.  :D

I see that you already read that reading the Archives is one of the first steps.  Great!  There are very few Newbies that mention the Golden Archives in their fist post.  :D Feel free to post a hello on the board and let us know what you're up to and if you have any questions- feel free to ask.

YB, thanks for digging up the Newbie Call Blitz thread.  I'm sure that has been buried!  :pimp:

Hold off a while on calling sellers, cmajors.  I’m not sure of your experience, but if you are brand new to this business, calling ads in the paper may be a little discouraging.  Not too many people call ads out of the newspapers.  It's not easy, but it's a great way to practice talking to sellers and to get used to asking the right questions.  Call it the minor league, preparing you for when your advertising and Motivated Sellers are calling you.

How long have you been on the fence?  How much do you know about this business?   :)

TMO :inlove:
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#48 User is offline   cmajors 

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  Posted 04 June 2002 - 08:56 PM

YB,

Thanks for the link to the Call Blitz Thread.  I've just gotten done with the things that I had to do today and can now get to the thing that I want to do (reading that thread and starting on the archives).  BTW, I've enjoted reading your posts and replies on Richdad.  ???

TMO,

I'm glad to be here.  I've been lurking on Richdad's site for a few months and have just found out about the Cafe.  

I have been on the fence for several years now thinking that REI would be the thing for me and occasionally reading a book here and there to try to figure out how to start.

Several months ago, I started reading the Richdad series and decided that it was time to put-up or shut-up.  I spent some time getting my financial house in order by organizing my bills, snowballing to pay them off, and setting up a budget for my living expenses.  They are not paid-off yet, but I do know when they will be.  

At the same time, I started reading other books and looking for anything that would help me get started.  I found Richdad's site and started reading the forums and getting alot of good info from utahinvestor, marcos, fabman, yacht_boy, and others.

I've also started driving around various neighborhoods (I just moved into my current home and do not yet know the area) and looking for vacant properties.  I found a couple in one neighborhood and recently sent a letter to the out-of-state owner of one.  I'm still waiting on a reply.

Several weeks ago I heard Jeffery Taylor (Mr. Landlord of www.mrlandlord.com) speak at the REIA meeting in Dallas and decided to go to his convention in St. Louis.  While there, I bought a course from Robert Shemin (it has been shipped but I haven't received it yet).  Now, after find this site, I may have spent money that I didn't need to yet, but I feel that if I get one good idea out of it, it will have been worth the cost.

By using the extra that I am currently putting into my bills and into savings, I have $1,800 a month to work with.  I also have a $12,500 signature limit with my credit union that I could use for short-term cash.

All of this boils down to this: I think that I have enough knowledge to at least get started but I have hang-ups about actually talking to sellers and sounding like I am new and don't know what I am doing.  Unless anyone out there can suggest anything else (I could also get into specifics about what I have read), I think that it is time for me to start calling (if only to get my feet wet and break through this particular issue).

This may have been more and/or less than you were expecting :satisfied: , but I am interested in any and all suggestions on where I might start.

Thanks,
Cary Majors
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#49 User is offline   Dealmaker 

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Posted 04 June 2002 - 09:39 PM

cmajors
Congrats for stepping up to the plate. This is not the minor league.. you've made it to the Majors!

Welcome and let us know how we can help you.

Cheers,
Dealmaker ???

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#50 User is offline   The_Motivated_One 

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Posted 04 June 2002 - 10:28 PM

cmajors,

Thank you for sharing the info.  Note:  VISIT the CAFE OFTEN.  We will push you and help you take action.  Don't worry about the fact that you were on the fence for several years.  I know a few people that will remain there for their entire life.  Take the Leap!  Jump down and dive in.  

You're going to be surprised as to how fast you could be up and running, talking to motivated sellers, and learning this business by making things happen.  Good to have you here.  

Keep us posted. ???

TMO
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#51 User is offline   yacht_boy 

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Posted 05 June 2002 - 01:27 AM

Cary, I'm assuming you're referring to my reply to Apt2002's post over there.  I'm flattered that you've included me in such illustrious company as Marcos and Utah, but I'm a newbie just like you!

YB
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#52 User is offline   seattleannie 

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  Posted 05 June 2002 - 02:05 PM

Hi everyone!
Just getting started myself. I'm starting with L/O ing first since I have no other experience. May do some flipping, too. So far, I've called about 100 FSBO ads in our local papers! Whew! Talk about gut-wrenching, palm-sweating fear! But I got thru it - mostly answering machines... oh well. My goal is to have AT LEAST ***ONE*** DEAL by June 14th - next Friday... can I make it???!! YOU BET! I just have to believe in myself and the great people I've found on this board who use their adventures to further strengthen us Newbies! Way to go, all! Thanks for a great site!
SeattleAnnie :laugh:
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#53 User is offline   DSW 

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Posted 05 June 2002 - 02:17 PM

THAT is the way to go!!!
:laugh:  :pimp:  :greenblob:  :flaming:  :flaming:

Welcome to the cafe (publicly!!!), glad you are going to join the party!
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#54 User is offline   The_Motivated_One 

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Posted 05 June 2002 - 03:33 PM

Seattle Anne,

Welcome to the CAFE!   It's great to have you here.  Make sure you post a new topic on the newbie board and mention that you are in Seattle.  There are other investors that are new that would love to say hi.  :laugh:

Are you ready to take action Anne? ? ? ? ? ?

You impress me by calling 100 FSBO's.  You just got through the hardest part of the business!  Most investors don't do that!  But, now you have killed any fears of talking to sellers.  Great job!

So, Are you ready to take action?

If so, check out the New topic...  The Assignment.  Join us.  :pimp:

Hey DSW....  Jump on into the assignment with us.  

Let's all turn it up a few notches here!

TMO
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#55 User is offline   nikita 

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Posted 06 June 2002 - 10:10 PM

You are a fam-i-ly!
Thank you for the bday wishes TMO, DM and the rest of the crew :inlove:

Quote

How many years do you plan to repeat that birthday??

As long as I can get away with it  :p  what can I say:) I am 21 with 5 years experience:)
Oh and did I tell you that you guys are like a family that I don't have here???
Hmm, and I thought that nothing could surprise me today :dance: wrong!
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#56 User is offline   The_Motivated_One 

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Posted 08 June 2002 - 10:03 AM

:dance1:

Quote

Oh and did I tell you that you guys are like a family that I don't have here???
 :dance:
Awwwweeee....  Thanks Nikita!  

Sing it!  We are fam-i-ly!  La la la de de!  

:fl2:
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#57 User is offline   meninblack 

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Posted 08 June 2002 - 01:06 PM

Hi all. Just joined about 30 minutes ago. I'm one of the relatively lucky few whose eyes were opened by Robert Kiyosaki....thought I knew so much. Hmmph. Turns out I didn't know what I didn't know.  :whatsthat:

And now I feel ready [finally] to grab the bull-by-the-horns.  :sly:

My long-term goal is financial freedom (whose isn't?). I don't quite yet have a tangible definition of the American dream yet, but I'll know it when I see it.
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#58 User is offline   The_Motivated_One 

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Posted 08 June 2002 - 08:25 PM

Welcome to the Cafe meninblack!

Man...  I wish that I had one of those things they they used on people to make them forget what they just heard and saw.  If I could just go back and talk to all of the sellers again that I screwed up on, I'd be golden!

Take some time and read posts, the archives, articles, and all that good stuff.  Great to have you here.  :cool:

TMO
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#59 User is offline   mglasco 

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  Posted 27 June 2002 - 10:43 PM

Hey all.  This is my first time to the site.  I'm definatly a newbie but I've been obsessing over real estate investing day and night for about a month now.  With a little help from everyone here I believe I will be ready to make my first deal in about another month.  I will be moving to a new area soon and plan on doing a lot of investing when I get there.  You'll be hearing from me more often now that I've found this site.  I have a lot of questions and it's awsome to have a place to read some great new matieral on creative deals and the such.  Talk to yall later.   :laugh:
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#60 User is offline   The_Motivated_One 

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Posted 01 July 2002 - 08:04 PM

Welcome to the Cafe, Mglasco!!!!   :disturbed:
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#61 User is offline   mentor_me 

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Posted 09 September 2002 - 06:21 PM

Thanks to whoever for establishing and maintaining this site - very nice looking and functional. Thanks also to the people who post to this site, for withouth knowledgeable and friendly people, the site would be useless.

That said, I'm Mark from DC metro area and I'm looking to get into RE investing to make my job obsolete. I'm sort of on the fence at the moment, trying to absorb everything in the archives and also trying to figure out some other things.

See ya around :cowboy:
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#62 User is offline   mentor_me 

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Posted 09 September 2002 - 06:27 PM

Thanks to whoever for establishing and maintaining this site - very nice looking and functional. Thanks also to the people who post to this site, for withouth knowledgeable and friendly people, the site would be useless.

That said, I'm Mark from DC metro area and I'm looking to get into RE investing to make my job obsolete. I'm sort of on the fence at the moment, trying to absorb everything in the archives and also trying to figure out some other things.

See ya around :cowboy:
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#63 User is offline   Drew 

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Posted 09 September 2002 - 07:37 PM

NO FENCE SITTING ALLOWED. GET YOUR $%@! OFF THE FENCE!

Welcome to the cafe!

As I've said before, the only regret I have is not starting sooner. You too will have that same regret soon if you don't get going NOW!

No more excuses. What do you need to figure out?

-d
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#64 User is offline   mentor_me 

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Posted 10 September 2002 - 08:30 PM

Drew, on Sep 9 2002, 08:37 PM, said:

NO FENCE SITTING ALLOWED.  GET YOUR $%@! OFF THE FENCE!

Welcome to the cafe!  

As I've said before, the only regret I have is not starting sooner.  You too will have that same regret soon if you don't get going NOW!

No more excuses.  What do you need to figure out?

-d

Welp, I need all the legal stuff, as well as a helluva lot more knowledge. Suggestions on good books to read would be nice :dance1:
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#65 User is offline   Drew 

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Posted 10 September 2002 - 08:40 PM

Try this for books:

Books

Or here...

Or if you are really serious, try here:
Mr Preforclosure

Good luck!

-d
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#66 User is offline   LetsGo 

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Posted 13 September 2002 - 02:32 PM

hello everyone..i signed up TODAY..lol..and i just POSTED...so lets help each other and have fun! thanks
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#67 User is offline   Drew 

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Posted 13 September 2002 - 06:54 PM

Welcome, LetsGo! Where are we going? To the bank? :)

-d
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#68 User is offline   hundredfold4u 

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Posted 08 January 2003 - 12:58 PM

Hello. Just want to introduce myself. I'm a new REI in San Antonio, TX. :) I very much enjoy this site and have lurked around for a couple of days. I truly am encouraged by the archives. My motivation to become prosperous in REI is (1) my family....I have a 17 year old daughter who will be going to college next year, a 15 yearl old son who is right behind her, and a 12 and 8 year old son and daughter (2) to be able to give to others through my church and charitable organizations (3) early retirement (I'm only 37 years oung) :dance: . I do plan to be very active with posting questions, and who knows, maybe even an answer or two sometimes. Also, I'm now motivated to go out and do my first deal. I have just recently joined the local REIA. That has been a big help too. Thanks.
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#69 User is offline   yacht_boy 

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Posted 10 January 2003 - 07:00 PM

I guess we missed this one...

[SIZE=14]WELCOME!![SIZE=1]

Hope you like it here...looks like you're off to a good start.

YB
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#70 User is offline   ritabos 

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Posted 11 January 2003 - 07:49 PM

Well I'm a newbie and have found this site to be absolutley a Godsend. The archives are great and I was able to meet a fellow Columbus, Ohioan that is a great mentor on this site. I was also able to meet him at our local REIA meeting. I feel very lucky to have come across this site in my research of REI. I haven't made a deal yet but I had a few potential deals that, with the help of this site and my new mentor, made me realize they weren't good deals.

I owe all of you pros out there more than a THANK YOU. You are awesome! I hope to repay when I become a "pro" in REI by mentoring to other newbies as you do.

Life is busy with my day job and kids but I've scheduled 2 days off to dedicate to goal setting, a pedicure (gotta pamper myself a little and, it was a Christmas gift) and intense REI education. Presently I have an ad in a couple local papers in the area and call on at least 5 ads in the Sunday paper. Don't be afraid of calling, I've found that it's a good way to network and to learn a lot about the business as long as you're not afraid of asking questions. Most people are fine with any question. If they aren't, who cares, you're on the phone and they don't see you. Just politely say, I'm new at this, please bare with me.

Keep the attitude -- life is short -- whata ya gonna do? Sit on your duff or get moving and buy some real estate?

Happy investing! :angel:
Ritabos
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#71 User is offline   Dealmaker 

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Posted 12 January 2003 - 07:59 AM

hundredfold4u & ritabos -

:greenblob: Welcome!! WE love new investors!! :greenblob:

Thanks for participating!

Dealmaker :new:
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#72 User is offline   BattleBorn 

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  Posted 14 January 2003 - 02:41 PM

:dance1:
Hi everybody. I also am a newbie. I joined this site in December of 02. I have been running ads for both motivated sellers and lease 2 own. I have quite a few buyers. However I seem to be having a problem with attracting sellers. I have recently re-structured our advertising to more direct response type mailings. I have been recieving through our local title company a daily list of defaults. I have been trying to make contact with a Realtor for expired listings.

I might have to find another Realtor to go through if I am unable to make contact in the next 24 hours. I have also been to the county assessors office and requested a file from their database of all out-of-state property owners. I have been and will continue to market directly to these lists as well as running our ads in the local daily paper and the local rag that comes out weekly.

We have magnetic signs on our Durango's doors and a WE Buy Houses with our business phone in letters on the back window. I also have a 800 number where sellers and buyers can call for a recorded message to find out more about how we can help them. I also finished up a Free Report that they can call and ask for as well. Neat thing about 800 numbers, they capture the phone number from every call even the unlisted ones. That way all I have to ask them for on the recording is their name and address. This way they don't feel like someone is going to be calling them and bothering them because they did not ask for their phone number.

Of course I do call them after I have sent them some information. Also I am in the process of starting a website. Whew...looking back on what I have just written, I should definately have done my first deal by now. I must be missing an element or two. If anyone has any ideas I would appreciate your input. Now I will ask a question. What do I do when a seller calls and states that they are anywhere from 4 months behind to 6 months behind on their payments?

The only thing that I can think of is a short sale. However depending on just where in the process the mortgage company is, they can be slow to respond to my calls. I have only tried this twice and unfortunately for the seller and of course myself, the mortgage company's drug their feet. I had authorizations signed by the seller, financial statements from the seller, a hand written letter from the seller explaining the situation that has put them into default and why they will not be able to make up the back payment and interest. I guess I am just looking for some other way to help these people. There are hundreds of foreclosures in Las Vegas every month.

There has to be something better. There now I feel like I am no longer a "Lurker". I will start reading the Archives. Maybe what I am after is in there. Thanks to all and may God bless all of you.

Brett McCoy BattleBorn@lvcm.com
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#73 User is offline   blasted_elf 

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  Posted 16 January 2003 - 12:50 AM

:greenblob: Hi, my name is Dave and I 'm a newbie. And proud of it! Wow! Talk about good hearted people sharing the wealth. Hats off to all of you! From the individuals that run show to the average joe that put's in his two cents. One proplem though! Way to much good information to process.

I'm trying to find the best resource that will guide me through learning how to make money without money.

Thanks to all in advance

Blasted_elf
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#74 User is offline   yacht_boy 

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Posted 16 January 2003 - 06:18 PM

Welcome!

Quote

I'm trying to find the best resource that will guide me through learning how to make money without money


You just found it!

Have you been to the archives yet? There's a link at the top of the page. They're a little confusing at first, but you'll get the hang of it in no time. They'll teach you all of the terms we use. Feel free to post your questions.

Yacht_Boy
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#75 User is offline   Joel 

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Posted 23 January 2003 - 04:37 PM

Hi everyone,

Figured this would be a good spot to stop and say hello. My name is Joel and I've been hanging out in the background here for a while, right now I'm simply trying to learn as much as I can. While I'm not yet sure of exactly what aspect of Real Estate I'd like to invest in I do know Real Estate is where I want to invest my money. Much like many others I was lead here after reading the books by Robert Kiyosaki. You guys are incredible, full of support, encouragement and wisdom.

Thanks to everyone, we are defiantly family here :inlove:

Joel
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#76 User is offline   yacht_boy 

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Posted 24 January 2003 - 07:33 PM

Welcome to the Cafe'!!

I'm glad you like it...keep on posting, and take some action THIS WEEKEND. If you've been here long enough to feel like you're family, you've been here long enough to have an idea of where to start.

Defiantly,

YB
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#77 User is offline   goldenry 

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Posted 04 February 2003 - 11:44 PM

Hello everyone,
Just wanted to introduce myself. I am just starting this wonderful game. After reading about finances and real estate for months now....I started to realize through self-examination and the very helpful posts on this board, that I must now take the leap. If not, I could end up spending the rest of my life reading.
I am fantasically relieved to have found this board , whereas before I was feeling like an island, I now feel very supported.
A little about myself:
I live in the SF/Bay area (Those Dealmakers in my area just WON a Free LUNCH!! :dance1: *with me of course*..just asking for some guidance! )
While I'm trying to kick of my CREI business I also work for an edutainment company that puts on events with the big names in the Business/Real esate world....RK is coming in march.
This has opened me up to a ton a opportunties and contacts...but I'm forging out on my own so to speak.
I plan on focusing on L/O's and disperse my business cards daily and have set up a tollfree # for sellers to call for more info. Now this weekend I must cold call ads ( a little nervous)

Who are the DealMakers with insights to the SF BayArea??
While my REI knowledge is fairly limited now, I'd love to share all my other resources and tools with the board.
:D
-Ryan
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#78 User is offline   jmardis 

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Posted 08 February 2003 - 09:06 AM

Hello all,

I have been in the shadows for a couple few months now, reading the archives and forums, trying to learn as much as possible.

Now its time to jump off of the fence and get into the game. I have a seller who I am going to make an offer to this next week. She has little to no time and I know she just wants out of the house. I am going to meet with her today and get all of the deatails.

Thanks for the motivation everyone, and thanks for the great site.

Jordan

PS-I am sending out post cards to all the foreclosures and houses I have found while driving for dollars. It has seemed to work so far, about 4 responses out of 50-60 mailers. Thanks again, jordan
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#79 User is offline   snuts 

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Posted 19 February 2003 - 03:33 PM

Hello,

I am a recent college grad and just started thinking about Real Estate Investing as a career. I have read 2 books and various articles but stil have no idea where to begin. It seems to me that these books are great at getting a person motivated and the articles explain specific useful information but nothing so far has given me any plan of action.

I would appreciate it greatly if someone can tell me where to begin and what steps to take to make a deal and make some cash. Help!!!!!
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#80 User is offline   maccius 

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Posted 19 February 2003 - 05:36 PM

Welcome to the Cafe Snuts!

Glad to have you here. I escaped college myself back in December. :smokin:

What books have you read? It can seem overwhelming trying to learn everything at once just keep sorting through and everything will click. There is an excellent resource here and best of all its Free! Look for the archives tab at the top of the page grab some hot chocolate and prepare to spend a some time reading and learning.

Quote

I would appreciate it greatly if someone can tell me where to begin and what steps to take to make a deal and make some cash.


Unfortunately there's many ways to make a deal and your own personal goals and situation play a role in what you can do as well. Read through and figure out which way you want to get started and then go for it!

-Maccius
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