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Be a Real Matchmaker!

Now that the push for real estate matchmaking software has ended again for now… There is more to being a real estate matchmaker other than getting a buyer and seller and putting them together. I

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Be a Real Matchmaker!

209 Days of Silence Ended by 209 Gurus&#

Well it’s been 209 days since my last post this one will be short the next one won’t be nor will it be in 209 more days! I guarantee it won’t even be another 209 hours before the nex

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209 Days of Silence Ended by 209 Gurus…

Howdy It’s Been A Minute!

So it has been awhile, but every time I had a post I wanted to write the flavor of the month would come out with an email that all of his large list of friends would send you also that was close to th

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Howdy It’s Been A Minute!

A Picture is Worth a Thousand Questions&

I know several people have asked me about doing deals in other markets what’s my best tip? This is a good tip for doing deals in your own  market also though… There is an old saying that

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A Picture is Worth a Thousand Questions…?!?

Yeah Buddy!

So I’m just gonna say something real quick like… Be careful what you ask for you just might get it is a powerful old ass saying… I’m gonna have start digitally bitch slapping p

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Yeah Buddy!

Scam Huh?

1
by on February 24, 2010 at 11:39 am

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So apparently to people who don’t know better or understand how the entire universe works. I am going to explain something Wholesaling is not a scam business! How fucking hard is it to understand that if you are telling sellers what you are doing it’s completely ethical. Do you think when you go to Walmart they are selling at the price they paid? No they got a price that they could pay so they can resell it to you at a price you will pay! It’s not rocket science it’s not a scam unless you are a complete piece of shit about it.

There is a reason for this post and the people who need to see it probably won’t but oh well.

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Me Me Me

8
by on February 21, 2010 at 11:44 am

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So since I pay for this site. I’ve just realized I can say whatever I want and nobody can do a damn thing about it. First of all if you are easily offended by language the back button is at the top left. Now any ways I am tired of writing about things in a “professional” manner which isn’t shocking to anyone who knows me. Realistically all of the stuffy shit is boring and makes it super hard for me to write. If it’s boring to me then why the fuck would I do it? Exactly! I’m 2 days from my 29th birthday and just learned that me is good enough if it isn’t then don’t read I don’t really care. I like helping the people who read don’t get me wrong, but it would be better for everybody if I didn’t have to pick and choose my words carefully.  So let’s try out this new tone.

What’s wrong with Real Estate Investing?

1. There are too many fake mother fuckers!

Seriously how many people to you talk to a week that say  they are this this and this, and you get that that and that. Sellers tell lies all the time maybe not huge ones, but they want the most for their house immediately I get that. “The roof is in perfect shape” What’s with all the water spots on the ceiling? “I’d never noticed” right. Buyers lie too “I have the money and want the house” Schedule a closing and the excuses or outright lies start just piling up. Wholesalers aren’t any better how many dumbass people have you seen advertising buying your house in 24 hours or less? Where the fuck do they do that at seriously? Especially when most of the people don’t have a damn dime! You can’t get a title search done in 1 hour it’s just not possible! Hell sometimes I can’t get one done on the right house in 7 days!

2.  You are dependent upon other people.

I hate the fact that I have to depend on other people to keep their word to eat. One person fucks up the chain of trust and you don’t get anything! Every deal that goes wrong there are at least 2 people who take a credibility hit. If a seller pulls out ,which is rare, you think they lied to you and the buyer says you are a liar to. Vice versa also the thing is though I don’t care I’ve been called worse by other people who don’t mean shit to me. What I do care about is when the bullshit starts I have a six year old son and an entire extended family I like to do things for. Sometimes I’ll be like sure I can help you “knowing” I have a deal nearing completion and will be fine until someone slips up. Then I don’t get shit and have to struggle like I work at McDonald’s for a minute. Is that my own fault yes and I admit that. At the same time I trust people because I am a man of my word and expect the same. I’ve heard good acceptable reasons before most of it though is just face saving bullshit!

3. Everyone is an expert!

If you haven’t done 10 deals do you really think you know what the fuck you are doing well enough to teach others? I know thats not the case so some people out there need to get over the idea that they know everything. Don’t give advice if you don’t know your head from your ass! Point blank period. The only advice you should be giving is a referral to someone who can help them!

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1st Deal Disaster

4
by on February 18, 2010 at 11:39 am

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Since some one asked to hear the story of my first deal here it is! After much debate I’ve decided to go with the uncensored version.

Back Story

I was having some doubts about continuing my fighting career after some bullshit promoters fucked me over.  So I decided to look for a job that could match up to me, my personality, and financial expectations. There was a job posted in the newspaper for real estate agents wanted in my area. I gave it a call to find out what it was all about had the interview and this guy told me I would be great in the business after talking to me for 2 minutes. Yet he drove 4 hours to do this interview so he wanted to hang out for awhile I wasn’t gonna say no since he was gonna teach me everything I needed to know. Fast forward 3 hours since nobody wants to hear about drunken wildness by middle aged men, he lets me in on this secret the real money is in investing.  I paused to tell him to put his wrinkled genitals back in his pants and to leave the waitress alone, and then asked him to continue. He had spent all day talking about being over the biggest brokerage in California for 25 years which in my mind was complete bullshit and I told him so he was drunk not like he was gonna remember. He then says all of his money comes from investing what he was doing isn’t legal by the way.

The Deal

After this interview and all that wonderful back story I started researching the different variations of investing and picked wholesaling to get started. I then decided to go for it and bought “free” bandit signs using 15 different email addresses and friends houses. There is that whole cheapness thing again. I drove out of town put the signs up 6 weeks in a row and got my first buyers calling in and the police. Week six though I got my first seller lead using craigslist negotiated absolutely none, which is  something I do now even if it’s a better than perfect asking price.

Everything is rolling I then use more bandit signs to sell the house and craigslist. I had a price that I thought was nice and easy for the quick close. Which was the truth everything was good until the buyer went and looked at the house and discovered a foundation problem. Whacked 3500 off of the asking price and I still took it because he was buying with cash and knew he would be back for more houses.

So now we have 1500 left in profit not so fast the closing costs last minute are to be split so I end up paying 300 bucks of my share to shut the seller up and get the close. It was the most disastrous deal I’ve ever done until this week. Which I might elaborate on further it just depends on what happens.

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Ready 4 Takeoff?

2
by on February 16, 2010 at 2:07 pm

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So who wants to strap a rocket to the ass of their real estate investing business? I see all of these ideas that various people have and some of them are great, but most of them are usually just ridiculous. Why would someone spend thousands on a no money down investment marketing campaign? If you had been investing successfully for a little while I could see it, however spending some bank to get your first deal is a stupid move.

First I am a tight wad and will admit it. I can track the R.O.I. of every marketing dollar I have ever spent. I can also tell you that the R.O.I. works out into the thousands/ hr on an hourly wage on time I have spent doing free marketing. The first deal I did cost me 180 dollars in marketing plus about 4 hours and I brought in $1200. The second I spent 2 hours and 17 minutes of my time to make 3000. Now which one do you think caught my attention the fact that for every dollar spent I got $6.67 in return or that I made $1315.79 an hour the second time? Initially I looked at the 1315.79 and ran with it, but as I went along realized it was more the inexperience that threw my numbers off. My point is if you don’t have money to spend then do not spend it. You shouldn’t starve yourself to get a business going. Eat now and wait until you can feast later.

Secondly buying everything that somebody suggests or tries to sell you on isn’t gonna get you to where you want to be any faster. Unless where you want to be is frustrated and starving. Did you know that making an offer is essentially free? Try that one for starters if you make the right offer and get stuck with it you still won’t lose anything.

Fact/tip 1 I have never lost a dime from a contract expiring. What part of no money down investing doesn’t make sense? The part where people put money down. Seriously it’s a 3 word term and people still screw it up. The big reason most people get into no money down or wholesale investing is because they don’t have a lot of money. Keep what little you have!

Fact/tip 2 I love to make offers. The catch to that is I am sure I can complete the deal. Making a bunch of low ball offers is cool and all, until your rent is due and bills need to be paid. Make a decent offer so you actually have properties to move to your unnecessarily large buyers list. Other wise you are wasting your time! There are a lot more fun things to “waste” time on than real estate.

Fact/tip 3 Don’t break your routine. Most people I see get a house under contract and stop looking for more deals. I find that to be a huge mistake. True it’s not gonna sell itself, but if you bought right it won’t take that much extra time out of your day to move it! You don’t have to sell it the first day unless you created the 48 hour option contract.

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Created Equal?

4
by on February 15, 2010 at 7:12 pm

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So the good old saying is all men are created equal. Which is true for about 9 months and then they come out into the real world. There are various things that hold people back from day one. Some of those things are also the very reason others succeed.

Some are blessed with great genetics and everything in life comes naturally for them, others struggle with any path they choose in life. Regardless of which group you are in you have to make a choice to be great. It’s easy for me to talk to people, however I have a problem dealing with negativity. One strand of negative in my day opens up the flood gates and I get mad and frustrated. I realize my problem do you know yours?

The majority of people who start their own business especially in real estate investing will meet struggles, don’t let the problems in your rise to success overcome you and take you back to square one or worse off than before. You may be the smartest person in the world and you will still see some form of resistance especially in the beginning. Is it worth it to you to persevere? If it isn’t you will get eaten alive quickly. Don’t be too smart for your own good learn to listen to other people who are where you want to be. There is competition in any avenue of life you have to be able to differentiate yourself from everyone else. Why is my “brand” better than this guy over here? How is his better than mine? It’s a learning and growing process every single day.

My biggest goal is to wake up the next day better than I was the day before. If either by learning something new by reading, talking, or whatever it doesn’t matter learn something. If it’s about business even better. If it’s something about yourself you didn’t know that’s great too. A large part of improving your real estate investing business is improving yourself. This isn’t a McDonald’s franchise where you just buy in and don’t have to learn too many new things. This is from the ground up if you aren’t learning something new your business is staying exactly where it’s at for a while whether that be still on the ground or 1-2 deals a month that’s where you are gonna stay at and then you will start losing what deals you do get.

This is different from my normal posting style yes, but I also realize I have readers who look at my blog who haven’t done a deal or are stuck in the rut of almost being an REI person. Knowledge is important yes, but if you can’t get yourself right to carry it out  you are still gonna be on the outside looking in. The will to succeed is just as important as the real knowledge you have in your tool box.

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Back Again

12
by on February 9, 2010 at 9:00 am

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So I’m Back!!! This one here is more of  a question for the readers I like to have discussions and hear other opinions and problems. What is your biggest hurdle in real estate investing?

For me personally it’s having  patience to deal with other people dragging their knuckles to get things done and all the excuses! There is no reason for it to take 5 days to sign anything and get it back when you are in a hurry to sell! On a short sale people know their credit is in grave danger yet they still just putter along like it’s not important at all to them. Everybody has an excuse about why they aren’t doing their part. From the sellers, to the buyers, and all the other moving or in some cases not moving parts of deals. Wholesale deals where the supposedly motivated person (the seller) takes forever to do anything and then wants everything done right away. It’s irritating to send a contract and then not hear anything for weeks and then have them come back to you wanting instant results.

This is my business! This is how I take care of my family! If I do everything I’m supposed to is it wrong of me to expect the same of the other parties?

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It Was Gonna Happen Eventually!

6
by on February 3, 2010 at 7:29 pm

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So today was the first time that dealing with Podunk America finally caught up to me! This stupid a** title company runs the title information on the wrong house. Really? It’s right there on the contract and you only talked to me on the phone 5 times in the 6 days since I did the title order! So for the first time in the existence of this blog. I am presenting the middle finger award to Abbey Title Company in Joplin, MO! That’s right I have the power of the keyboard and I’m using it liberally so nana nana nana stick your head in…. Okay that would be unprofessional or childish, but so is not reading paperwork!

On a side note being the savvy dare I say borderline genius that I am. I called the title company down the street from them and the pretty sounding young woman put a rush order on it for me and will have it done Friday! So bigger pockets blog readers can finally see one of the most fulfilling blog post in @motiv8td of subject2.com blogging lifetime. There are even elements of as Roger Clemens would say truthiness to that statement.

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Q and A responses

4
by on February 3, 2010 at 9:34 am

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The other day I promised that if you asked questions I would either answer them myself, or find someone who knew the answer. Even though I am pretty sure one of you knew who I was going to get to respond to your question when you typed it. I actually tried to reach out to a different source, but apparently he got too busy sending out his follow Friday’s! I realize it was Monday he doesn’t care 24/7 #FF is my passion. F*** that! Whenever follow Friday starts generating money then maybe I will go non stop with it too, until then I will stick to connecting with the 27 of 703 followers that actually interact.

Question 1

From Nick J. of Subject2.com

I’m interested in knowing the difference between Revocable Trusts and Irrevocable Trusts in how they protect your assets and their tax implications.

Well Nick I wasn’t comfortable giving you an answer from my knowledge, which is why I have great friends to help out when needed. So here is what Mr. Bill Walston (resherpa on twitter) a real estate and tax specialist had to say:

The main difference between a revocable trust and an irrevocable trust (also called a “living” trust) is the control retained by the grantor (i.e. trust creator).  In a revocable trust,  the assets are still within the reach and control of the trust creator.  The grantor may change his/her mind about a provision of the trust, a beneficiary, or even the trustee, and may amend, modify, or revoke the entire trust at any time.  This means that the revocable trust offers no ceditor protection if you are sued, income generated by the trust assets will be taxed to the grantor, and the value of the trust will be included in the grantors estate for federal and state estate tax purposes.

Also for those of you haven’t check out my latest guest blog on Nick’s site 6 Steps to Craigslist Perfection

Question 2

Scott Costello ask:

My ?: You seem to be doing pretty well with marketing. How do you test out your marketing pieces in order to give you the best idea of which works best? and do you find that what works best changes over time?

Well first I look at what other people are doing and see what type of results they are getting. Then I look and see what is missing from the puzzle. I come up with some ideas and then if they are low-cost ideas I just give them a shot. If they require some spending on my part though I run them past my little sister. She just graduated in May with a degree in marketing and advertising. Then if and when they get sent out if there are campaigns overlapping they have a different number or a guiding phrase so that you can tell who is calling what piece. If you still can’t tell they won’t get upset if you just ask them. There is a little bit of a change I’m noticing that the “We Buy Houses Cash” guys have all started to turn in to “we buy houses if you are willing to owner finance it guys.” I prefer to not just say how I’m willing to buy until I’ve talked with the seller to see what kind of terms best fit the situation. Also it’s easier to target marketing to certain levels of homes. The hoods will always have people in their houses, because McDonald’s and the crack house don’t have layoffs. But some of those borderline upper middle class homes are really easy to get a hold of now. Just because they can’t pay for the house they bought for or 5 years ago, since they lost their job.

Question 3

Alex Rodriguez (the cool one, not the baseball ass-clown)

My question (a basic one from a basically n00b guy): What steps do you take to avoid errors in how you value your properties?

First thing you must have are good comps unless you are dealing in a rural area then you start to get a feel, on a per neighborhood basis for the the price of houses. An example of a bad comp. You have a 3/2/2 that’s in an alley, with no backyard, and all you can see is the building behind you. You can’t compare that with the house across the street that sits on 3 quarters of an acre on the beach, regardless of it also being a 3/2/2.  Also be sure to take advantage of the lower comps brought in by all the foreclosures. Use them to your advantage when dealing with a private seller, and use the high comps to show the end buyer.

Second be sure you have a decent list of repairs. Also when I talk to a seller if a roof isn’t on the list of repairs I ask how old it is. If it’s an older roof I figure a new one into my offer price and let them know about it. Usually this helps them come to grips with the “wholesale” offer. Most people assume that certain items cost way more than they do which is why they don’t even price them let alone have them done.

Thanks for the questions if you have any more feel free to ask.

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A Secret Revealed

0
by on February 1, 2010 at 11:17 am

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So a lot of people either just getting started or perpetually speaking of taking action have a problem. They know what to do just not how to get it done. I will share a magical secret that people who have a modicum of success use. It will completely change your life, how much is this gonna cost? Nothing absolutely free even though it has a $897 value according to market research done by the mildly retarded Cambodian Virtual Assistant that other guys are giving away free with their products!

Make a to do list, and then do what is on it! Yes I know this is amazing stuff right? Imagine what you can do with one of these bad boys. The possibilities are endless you can have organization to your fledgling business, actually place those ads you have meant to, and dare I even say talk to a property owner.

What is the key to making a successful to do list? A lot of you still have full-time jobs and children’s activities to attend I realize this, but use  this thing called a watch to figure out how much time you can a lot to you business. Then don’t put 3 hours worth of activity into your 2 hour block of time. Leave yourself a little bit of a time cushion so you have plenty of time to do everything on your list. If you have to decide which task is most important the result is a job you need to do isn’t being completed.

When you are just investing part-time it isn’t like you have 30 deals to keep track of all at the same time. Don’t let anything slip through the cracks or be put on the back burner when it doesn’t need to. When you have an offer submitted or a contract you need to get back go ahead and write down to follow-up with it. If you are on a diet and have issues remembering when you are supposed eat or workout write it down too. Anything of moderate importance have a place on your to do list until you get in the routine of handling things regularly.

Other than the reward of accomplishment when you complete your daily and weekly goals you should also treat yourself once in a while to something small. If you don’t complete everything then go stand in the corner for fifteen minutes… Wait wrong audience for that one, anyways don’t beat yourself up over it too bad just apply yourself a little more, or analyze your list to make sure you aren’t over doing it if you start missing fairly often. Organization and time management are very important in pretty much any aspect of life, but especially in your business!

You are not just a wholesaler or any other type of real estate investor, you are an entrepreneur. Remember this, form an intelligent business plan and start growing your business!

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