Happy Thursday Guys and Gals!
Did you all get a chance to finish up the book? I actually read it through once really fast, and then went back through it a second time and paid closer attention.
I think going forward it would be cool if everyone came up with one or two of their biggest take-aways from each book that we read- what you learned, how you can implement what you learned, etc. . I know I just kind of sprung that on you, so if you don’t have an answer right now, no biggie. Just make sure to keep it in mind while reading next month’s pick!
For those of you who didn’t get a chance to read it- I’d definitely put it on your reading list for the year. Most of the ideas and principles were ones that I had heard of before, but it’s always good to get a refresher. The following paragraph sums up the book quite nicely, I think (it comes from Chapter 9, and is one of my faves)…..
“If you are willing to work on yourself long enough and hard enough, you can form and shape yourself into the kind of excellent person you are designed to be. No matter what you have done or not done in the past, at any time you can draw a line through your previous life and make the decision that your future is going to be different. You can begin thinking different thoughts, making different choices and decisions, taking different actions, and developing different habits that will lead you inevitably to the successes that are possible for you……”
Good stuff, eh?
The part of the book that resonated the most with me was the chapter on personal effectiveness- specifically the part about overcoming procrastination, getting your most important tasks out of the way first thing each day (eating frogs, as he refers to it), and working more efficiently. These are things that I struggle with on a daily basis, but am continually working to improve on.
To help me with my frog eating, I went out and bought a new ginormous dry erase board that I use to write out my 3 most important tasks of each day. I set it up against the wall across from my desk, so it’s constantly staring a hole right through the side of my face. Then I’ve been attacking those three items relentlessly before I move on to the other less important stuff. Seems to be working so far. It’s definitely a great feeling to knock out the heavy stuff first thing in the morning. Should I use the word stuff one more time in this paragraph?
What about you guys- what did you think of the book? Any parts in particular that you found especially helpful? Have you been able to put any of the strategies from the book to good use?
I’d love to hear your thoughts, so feel free to post them….
Oh, and by the way, I decided on the book of the month for February: Five Major Pieces to the Life Puzzle. I had actually never heard of this one until Mrs. Shae Bynes posted it on my Facebook wall today. It’s by Jim Rohn, so I highly doubt that it will suck- but if it does, you can blame Shae.
Hehe.
Later Alligators! 
On January 07, 2010 at 7:21pm, Sabrin Dutta said...
Hi Steph,
Good choice for a beginning of a new year book.
The main thing that I will take-away from this book is writing goals and tasks down daily. I have heard this before, but at the time sounded kind of redundant and a waste of time. Well, it seems like I would write goals down in the beginning of the year and then the sheet of paper gets ‘lost’ or something. This year, I am going to write them down daily first thing in the morning.
Thanks,
Sabrin
On January 07, 2010 at 7:34pm, Stephani said...
Glad you liked the book, Sabrin.
I recently got back in the habit of writing my goals down every morning. It really doesn’t take that much time, and it makes such a humongous difference if you stick with it.
Keep me posted as to your progress and results…
Happy New Year!
Steph
On January 08, 2010 at 9:16am, Jerry said...
Its not a waste of time because its redundant. The mind is impressed upon by redundancy. If its not repeated incessantly it vaporizes. Thats why we tend to fall into routines, or patterns in our daily lives.
On January 07, 2010 at 7:26pm, Chris Ranney said...
You are what you think about the most.
I have become a real estate pitbull. If you write down what you want to become, and repeat it all the time, it will happen to you also.
Secondly, take actionable steps towards your goal. Stop being a puss and explaining away why it is someone else’s fault that you are not successful.
A few of you know that I am making a major life change. I am going from a pt landlord and ft employee in upstate NY to a ft rei in Sarasota. My move is next week, but my actionable steps began months ago. I told everyone what I was dooing. I ordered business cards at a considerable expense. I ordered bandit signs(247.00)- I started an LLC-Ranney Real Estate LLC. I now have an EIN. For a beginner, these are major steps. All this is taught in the book.
What Brian Tracy has done is reaffirmed what we all know. Push Forward. Write down your goals. Take action on the hardest thing first. Reap the rewards.
Peace All.
On January 07, 2010 at 7:41pm, Stephani said...
Wow Chris- that’s awesome!
Those are definitely some huge steps, and I’m sure they are taking you WAY out of your comfort zone. Very scary, but that is how you grow.
Let me know if there’e anything I can do for you. I have a few contacts in Sarasota that I can put you in contact with.
Good luck with the move, and congrats!
On January 07, 2010 at 7:58pm, Carey_PA said...
Well Steph, to be honest I haven’t finished the book yet (I just picked it up from my library about a day or 2 ago.) But just reading the index and the first 3 chapters I know already that it’s definitely one that I want to get into and that I’ll definitely enjoy.
You’re right that what’s in the book we all have heard before but it’s definitely worth hearing about it again because I’m sure ALL of us can use some improvement in areas. I’m like you, I need to work on the procrastination thang. Kathy also said to me “you need to go back to writing your to do list for each day, you get a lot done when you do that.” And she’s write…I would plan out my day the night before and refer to it the following morning and NOT check my email and just go to town.
You know while I’ve been driving in my car this month I’ve been listening to an audio series by Dave Lindahl that has to do with Ordinary People Who Make Extraordinary Wealth or something of that nature. And it just talks about the principles necessary to be successful.
Pretty much a lot of the same stuff that Brian teaches in his book. The big thing he talks about in his book is this KASH system. Where KASH = Success in whatever you do.
Kash stands for:
K = Knowledge
A = Attitude
S = Skills
H = Habits
And if you have all of those in line then you will be successful. I’m usually lacking in the H department and sometimes my A can get a lil screwed up, but I pretty much have the K and S worked out. So once I work on my A and get the H’s down pat……I will be golden.
I liked the little KASH system and think it makes some great points. All of this stuff is great to hear and read the beginning of the year so I can make a change NOW. I know that I need it.
Thanks for doing this monthly reading thang. I should have this book done shortly and I’ll come back if I think of some more points.
Btw, I don’t think we can go wrong with a Jim Rohn book…even though I only learned about him recently when my dad sent me a video about him via email.
Carey_PA´s last blog ..Outsourcing Direct Mail Campaign
On January 07, 2010 at 8:07pm, Stephani said...
Hey Carey,
Love the KASH thing.
I’ve pretty much got the KAS down pat. The H, though, not so much. I’m definitely a work in progress. Those darn bad habits are just so hard to break. Kind of like how I should be in bed right now since I was up at 5:30 am this morning working on a project that I did some serious procrastinating on…..
I’m really excited to read the Jim Rohn book. He rocks. Plain and simple.
Thanks for your comments, Carey.
On January 07, 2010 at 8:26pm, Tim (ME) said...
I actually was listening to this book on tape, as I did a few years ago. It comes on two cassettes. The second cassette was broken, the tape itself was cut so I couldn’t listen to it. So in effect, I only read the first half. But I did get a good refresher course on diligently putting away money with every check to pay yourself and let it grow.
Personally, I am having a very difficult time financially right now. A lot of factors are to blame, but I need to keep moving forward. I’ll get the next book and read it. Thanks Steph for doing this!
On January 07, 2010 at 8:33pm, Stephani said...
Hey Tim,
Sorry to hear things are not going well right now. I know you will stick it out, though, and keep pushing forward. Your persistence is going to pay off for you. I felt like I was never going to get over the hump, too, but I just kept on going and kept on going.
Keep your chin up,
Steph
On January 07, 2010 at 8:52pm, Chris Ranney said...
Tim, sorry to hear about your problems. I hope they are nothing “super bad”. Please keep reading Steph’s site. She is a perfect example of an average person doing above average things. We all have problems. I am losing my job of 10 years next week. The things we have in common is that we know that adversity builds character. You will win all your battles because everyone who believes that God has their “back” always triumphs. You are a winner Tim. Keep posting and keep in touch. Peace.
On January 08, 2010 at 8:20am, Brandon said...
Hey Steph,
I didn’t get a chance to read this one but will definitely join you for the Jim Rohn book.
This is a great idea you have!
Take care
Brandon
On January 08, 2010 at 9:19am, Scott Costello said...
I enjoyed reading the book for sure. It took me a little over two weeks and for a slow reader I was proud of that. Instead of turning on the TV after I got home from work I picked up the book and read for an hour. After that hour I would feel so good about getting something accomplished that I would keep the TV off and continue getting things done. It was a good lesson to me about how much time I was wasting having the TV on, even if I wasn’t really watching it, it was still distracting me.
On to the book…
Like Steph and Carey said, it definitely reiterated a lot of the same topics I’ve read in other books. To be honest though, that is a good thing as sometimes I need to have ideas repeatedly crammed into my head before I truly GET IT. When Brian talked about how you are responsible for your success, not luck, not your situation but how hard you work and sculpting your habits accordingly.
Brian’s talk of transforming yourself by creating new habits is really something I want to work on this year. You are what you think about and this year I will be thinking positively about everything. Like instead of being afraid to pick up the phone, I’m going to think “it could be something good, life changing (in a good way), so why not pick it up and see?” Even saying that to myself now makes me instantly more confident.
The main thing I’m taking away from this book is that in order for me to be successful in life I have to work on myself first and develop the proper habits.
This book was very similar to what I’ve read in the past that I’m actually mixing them all up in my head right now LOL. I’m gonna learn from this and take notes while I’m reading this months book.
Scott Costello´s last blog ..First Meeting of the NNJREIG
On January 10, 2010 at 3:42pm, Stephani said...
Hey Scott,
Glad to hear you liked it.
I definitely recommend taking notes as you go through the book(s). It’s hard to keep track of all the great ideas unless you have them written down. I ended up just reading it the first time through, and then the second time I also took notes. It’s sticks in my head better that way.
On January 08, 2010 at 4:06pm, Shae said...
LOL! Steph, I will put you up in a killer hotel on South Beach for a night if you think Jim Rohn’s book sucks. LOL!
Thanks for recommending Million Dollar Habits…the biggest takeaways for me have already been mentioned, BUT I wanted to point out a couple other things that really stick in my mind:
(1) His definition of success in Chapter 1: Success is the ability to live your life the way you want to live it, doing what you most enjoy, surrounded by people you admire and respect. I LOVE this definition.
(2) The fact that it takes TIME to achieve MASTERY in any field (research states 5-7 years) and that it takes focused, concentrated, determined work on YOURSELF. And related to this, if you read a book in your area of interest every day for 30-60 minutes and apply what you learn, you essentially have earned the equivalent of a practical Ph.D.in that field.
(3) Two quotes from Chapter 9 – “Single-minded concentration on one thing, the most important thing, is one of the most powerful habits you can develop for personal productivity.” and “The very worst use of time is to do well what need not be done at all.”
Thanks again Steph! Looking forward to coming back to chat on the next one!
Shae´s last blog ..It’s a small world after all…
On January 09, 2010 at 11:54am, Luis said...
Chris FWIW I already lost my job 4 months ago and find myself giving the “full time” real estate investor thing a go. I already knew it but this experienced has reinforced it, that depending on a JOB can be very risky.
I read (heard) this book as an audio CD on my morning commute to my old J-O-B. Shae, like you the definition of success stuck with me and has been a basis of my life plan.
As much as I believe in personal responsibility I truly believe we are responsible for the results in our lives. However, try as I am it sometimes feels that direction just does not want to change!!
On January 10, 2010 at 3:49pm, Stephani said...
Hi Luis,
I agree it is definitely tough to change, but you just have to commit to keep moving forward until you get to where you want to be. Easier said than done, I know, but still entirely possible if you set your mind to it.
Thanks for stopping by.
On January 10, 2010 at 11:47am, Julie Broad said...
Well … I broke down … I was still 2 books away from the point where I was going to allow myself to buy a new book but I had to buy some books… just had to!! BUT I did that before I read your post so once again I won’t be in the book club.
Now I must read 6 books to be able to buy more books because I bought 4… OH DEAR!! Such a problem. I am just about done the Power of Focus though – incredible book!! I recommend that one for your list … also “Get Off Your But” by Sean Stephenson really is an incredible read by an incredible man.
Ok that’s it!
By the way Luis… in Sean Stephenson’s book he says there is always a gift in your pain. Maybe losing your job was actually giving you the gift of freedom to become a real estate investor. Had you always had a job you may never have taken the leap.
That’s my two cents for today.
Julie Broad´s last blog ..The Nuts N Bolts of Holding VTBs
On January 10, 2010 at 3:47pm, Stephani said...
Julie, you definitely need to attend ORA (Over Readers Anonymous)!
Hurry up and read those 6 so you can participate in March’s book!
On January 13, 2010 at 2:27pm, Scott Costello said...
Julie,
How about you read some of those books outloud and record them to audio and send them my way. If I spent all day, every day reading I couldn’t get through all those books.
Come on fess up, do you read just the first and last chapters and call it read?
Scott Costello´s last blog ..Short Sale Commissions
On January 16, 2010 at 1:00pm, Julie Broad said...
Haha! I just read this comment… I am a quick reader but I want to take a speed reading course because I need to go faster. So many books so little time. If I read them outloud Scott that would take days and days!! Most books I read the entire thing and take notes… I have book summaries for every decent book I’ve read in the last couple of years all typed up but some books I will skim just looking for the good parts.
Anyway – just about to finish one of the 6 books… so 5 to go for March!!
Julie Broad´s last blog ..A Broad Rant About Guru Real Estate Investing Courses
On January 11, 2010 at 7:08am, Tony Zamberlin said...
Steph,
i’ve got several wholesalers here that r going to let me market there stuff. im getting options on the props. is there a certain price point or property that does not move good with bandit signs??
our median price range of houses here is 130k and rentals the arv is not usually more than 90k…
thanks
PS. i mean do i only market rentals with bandit signs and what has been your experience with this?
On January 11, 2010 at 7:20am, Stephani said...
Hi Tony,
As long as the deal is good- your phone will ring. Doesn’t really matter is it’s a rental or not.
I’ve marketed deals with signs from 15k all the way to 100k. If the numbers look good, people will call.
Steph
On January 11, 2010 at 7:22am, Tony Zamberlin said...
ok, so it should still be worth it on 200k houses and 150k houses as long as they are like half price ? should still attract cash buyers?
On January 11, 2010 at 7:25am, Stephani said...
Yes, but if you are putting out signs in nicer parts of town, people tend to get pissed off and they don’t stay up that long. That’s been my experience, anyway.
On January 11, 2010 at 8:26am, Mat said...
Finishing up your eBook, loving it! (Everyone NEEDS this nugget of awesomeness!) Quick question about your Craig’s List Buyers Ad. Which category have you had the most success posting it in? Housing wanted? Housing Offered? For Sale? For Rent? I have had a few ads removed for improper category. Thanks!
Sorry to take away from book club string
Hooray for Million Dollar Habits!!!
On January 11, 2010 at 8:33am, Stephani said...
Hey Mat,
Glad you liked the book.
Regarding the CL ads- I always put them in the real estate for sale section (they get flagged sometimes), as well as the real estate services section. You have to be consistent with them- try posting 2 ads/day for 30 days.
I haven’t been using CL much lately because there is a ton of spam, but I know others who are doing well with it…
Hope that helps,
Steph
On January 13, 2010 at 2:28pm, Scott Costello said...
Just bought the next book. This time I’ll be taking notes.
Scott Costello´s last blog ..Short Sale Commissions
On January 13, 2010 at 3:51pm, Joe Ziolkowski said...
Hey Steph! I’m going to have to give that one a read. I’m in the middle of another great book that I happened upon right now called “Turn Small Talk Into Big Deals” by Don Gabor. It’s a book about how to network more effectively, which was always something that scared the heck out of me. It’s for general business, but could easily be applied to REI to help people at networking events. Can’t wait to see what you do in 2010!
On January 15, 2010 at 12:48pm, Stephani said...
Hey Joe,
I will have to add that one to my list as well- thanks for the recommendation.
Steph
On January 15, 2010 at 11:14am, Shawn said...
Steph i am soooo frustrated. It is like pulling teeth trying to find ACTIVE inverstors (wholesalers) in Houston area that are willing to givr you information. I have neen trying my butt off to find an investor friendly title company to work with and it is like noone wants to give information! I am not understanding what the big deal is. Anyway needless to say I have been calling different title companies with no luck. Do you have any suggestions.
On January 15, 2010 at 12:53pm, Stephani said...
Hi Shawn,
Have you been to any of your local REIA meetings? Actually, you don’t even have to attend- you can just get the phone number of the person in charge (should be on their website), and ask them for a referral.
Also, try posting an ad on Craigsist in the real estate services section. Something along the lines of “INVESTOR FRIENDLY TITLE COMPANY NEEDED!” And then write in the ad that you are an investor and are looking for a title company to close your deals. You can also try posting it in the real estate for sale section for more exposure, but it might get flagged.
Hope that helps,
Steph
On January 15, 2010 at 12:57pm, Shawn said...
Thank you I will try all of those! Thanks again! I am really trying to become active this year and quit my job if possible by the end of the year. Houston Investors are stingy!!!! i even responded to wholesale posts on craigslist, and they said they didnt know of any! And I am like…ok if you are supposed to be posting a deal where do you plan on closing it!!!!!! Just craziness. On flippinghomes.com you can get all kind of information from everyone else but not in houston! It is silly! Anyway just had to vent thank you!!!
On January 15, 2010 at 1:14pm, Stephani said...
My pleasure, Shawn.
Congrats to you for getting out there and making things happen. Don’t let the responses you’ve received thus far discourage you. You never know- those ads that you responded to could be dummy ads posted by new wholesalers who are trying to build their list. They may not have any clue about which title company to use.
I guarantee if you keep looking you will find some folks who are willing to help you out.
Just keep chugging along.
Steph
On January 15, 2010 at 1:38pm, Shawn said...
So sorry to ask so many questions, and i should refer back to your book but i am not sure if a double closing is the same as closing the deal between you and the seller and then you and the end buyer the same???? I could probably use any title company if I were to just use a transactioanl funding source for the sale between me and the seller, and then close with my end buyer later. Is this correct? did I explain that right??? lol
On January 16, 2010 at 8:06am, Stephani said...
Hi Shawn,
not sure if I understand your question…
A double close would be like you described- two transactions would occur and you would be bringing your own cash (or borrowed money) to close on the first, as opposed to doing a simultaneous closing where you use your end buyer’s funds.
If you’re going to use transactional funding, I would contact them and ask how they do their closings or if they have a particular title co that they use.
Hope that helps,
Steph
On January 16, 2010 at 9:32pm, JIM GOULD said...
WHEN YOU ARE MAKING AN OFFER TO THE BANK—ARE YOU THE ONE THAT IS “QUALIFYING” THEN—WHEN YOU GO TO SELL IT TO AN END BUYER HAVE YOU ALREADY MADE A DOLLAR AMOUNT DEAL WITH THE BANK AND YOU THEN RAISE THE PRICE TO THE END BUYER SO YOU GET YOUR PROFIT. IF–YOU DO NOT DO THE QUALIFYING, HOW DO YOU PUT THE END BUYER IN, ARE YOU GETTING THE END BUYER TO MAKE HIS OFFER WITH HIS FICO/INCOME IF SO HOW DO YOU SQUEEZE IN YOUR PROFIT.
On January 18, 2010 at 7:16pm, Stephani said...
I USE A PROOF OF FUNDS LETTER FROM A PRIVATE LENDER TO SUBMIT TO THE BANK WITH MY OFFERS. ONCE IT’S ACCEPTED, I MARKET THE DEAL AT A HIGHER PRICE TO MY BUYERS, AND ONCE I FIND ONE I DO ANOTHER CONTRACT WITH THEM. I ONLY SELL TO CASH BUYERS SO THERE IS NO FICO INVOLVED.
I EXPLAIN THE CLOSING PROCESS THAT I USE (SIMULTANEOUS CLOSING) IN THIS VIDEO:
http://www.flipthiswholesaler.net/2009/09/simultaneous-closing/
On January 18, 2010 at 9:31pm, JIM GOULD said...
HI AGAIN, THANK YOU FOR YOUR REPLY. IF I MAY ASK, AND YOU MAY ALREADY HAVE…..I ALWAYS LIKE TO “KISS” KEEP IT SIMPLE (DONT LIKE THE LAST WORD SOOOO…) LIKE BUILDING A DOG HOUSE –FIRST YOU NEED THESE TOOLS AND NAILS AND BOARDS ETC ETC. IF YOUR STARTING THIS SYSTEM IT IS OVERWHELMING. SOOO, IF YOU HAD –YOU WILL NEED THE FOLLOWING (LIST ALL THE CONTRACTS YOU WILL NEED) BASIC VERBAGE TO BANKS AND BUYERS. WHERE TO GO FOR FUNDING. WHAT THE FUNDERS WHAT TO KNOW….ETC ETC. JUST LIKE –A TO Z LIST OF THINGS TOD O. IF YOU ALREADY HAVE THAT LET ME KNOW —PLEASE— THANK YOU THANK YOU
On January 19, 2010 at 11:19am, Stephani said...
Hi Jim,
If you want the A-Z step by step of how to do an REO wholesale deal, I would recommend picking up my Flip This REO eBook. I wrote it specifically to answer all the questions that folks have about wholesaling REOs.
If you can’t swing that right now, I’d recommend watching all of my videos, and also reading all of the articles I’ve written over at Bigger Pockets.com. I wrote a five part series about different ways to close REO deals- part 1 is here:
http://www.biggerpockets.com/renewsblog/2009/09/10/close-reo-wholesale-deals-part-1-5/
After each article there is a list of more articles that I’ve written on the same or similar topic.
Hope that helps!
Steph
On January 21, 2010 at 2:29pm, JIM GOULD said...
HI STEPH,
I AM FINDING OUT THE BANKS ARE NOT TAKING OFFERS BELOW 80% LTV SO THERE IS NOT ENOUGH ROOM FOR A PROFIT. IT APPEARS THE HARD MONEY LENDERS WILL LEND BUT IF YOU CANT, TURN IT, YOU WILL BE STUCK BIG TIME. I AM SPENDING SOOO MUCH TIME BUT THINGS ARE LOOKING DOWN AND I DONT NEED DOWN ANY MORE AGAIN AND AGAIN, HMMMM (FRUSTRATION BUILDS). CAN YOU CHEER ME UP SOME HOW???
On January 21, 2010 at 3:51pm, Stephani said...
You can make any offer you want to. Most of my offers get rejected, too, but every now and again I get one. It’s a numbers game.
How long have you been at this? It took me over a year of working my ass off before I started doing deals on a consistent basis. This is not a get rich quick business, it takes lots of time and effort if you want to be successful. Go through and read this blog from the beginning if you want to understand what it really takes. Might make you see things from a different perspective.
On January 21, 2010 at 4:28pm, Tony Zamberlin said...
Jim,
Cheer up brotha. Hell i busted my ass too the first year and only made 10K. That was for selling like 4 deals for other wholesalers. Definitely read Stephs Blog from beginning to end it took me like 3 days like 10 hours a day to do it , but shes come a long way!! Go back and look at her frusttration and that will give u some motivation to keep goin…
On January 21, 2010 at 4:31pm, Tony Zamberlin said...
Steph,
are u still bringing on students?? I’m still a little frustrated myself. lol
right now only have 15 hours a week after marketing and selling other wholesalers deals. what would u do?? reo’s only or maybe throw some bandit signs in there as well ??
I’m trying to focus, but not sure if doing just reo’s and putting all my eggs in one
basket will get me there. what do u think??
On January 21, 2010 at 4:44pm, Stephani said...
Hi Tony,
I’m collaborating on a low cost monthly coaching program with a group of other experienced wholesalers/rehabbers/investors. Not sure when it will be up and running (hopefully soon), but I’ll let you know as soon as it is. Also working on something that will be a bit more expensive, but not sure when that will be ready either. I’ll keep you posted….
As far as where to focus your efforts- I would go where you are getting the best results. If you’re doing well selling other people’s deals, then stick with that. That’s what I’m doing at the moment. It’s less money, but I am working on some other projects and don’t have a lot of time, so it works out well. Much less hassle, too..
Steph
On January 27, 2010 at 7:58am, Kelly Hart said...
Steph,
I would love to know more about this coaching program when it is up and running. My own fears keep holding me back from doing anything, and I think if I had a coach/mentor or someone that I could work with on the first few deals, that would help ease my fears, ya know??
Instead of doing deals in St. Louis, you need to head up I-4 to Orlando!! Selfish plug for my area, but hey, I tried!!! Good luck, I can’t wait to hear about your new adventures!
On January 21, 2010 at 4:52pm, Tony Zamberlin said...
ok great! do u ever do bandit signs for deals anymore or just reo’s and sell other peoples stuff??
well so far nothing has worked. i did 100 signs a few months back and got 300 calls. only things i did was outsource some loan mods and short sales…..
Had on that i was gonna make a grand on but title was screwed
Reo’s i always get multiple offer, which u say don’t offer on new ones right ??
On January 21, 2010 at 6:27pm, Scott Costello said...
Tony,
Like yourself I’m trying to fit REI into my already busy schedule. I find that it’s best to stay “laser focused” and concentrate on one and only one style of investing at first. I chose probates and am sticking with it no matter what until I become an expert in it. Once I decided to do that I noticed that things started looking up. Be an expert of one, not a knower of all
Scott Costello´s last blog ..New Probate Lead
On January 21, 2010 at 6:30pm, Tony Zamberlin said...
Thanks Scott, so you would only choose reo’s or bandit signs? not both then and become and expert at one lead source…
On January 21, 2010 at 6:43pm, Scott Costello said...
I wouldn’t say your choice is between REO’s and Bandit signs. REO investing is a type of property you would be investing in as Bandit signs can pull in a number of different types of properties like pre-forclosures, absentee owners, code violations, etc. I would first pick a target market and then I would do a little research and see which method of lead generation works best to get those sellers calling in your area.
Does that make sense?
Scott Costello´s last blog ..New Probate Lead
On January 21, 2010 at 6:48pm, Tony Zamberlin said...
well im just gonna be wholesaling and reo’s are good but im sure leads from bandit signs would be great too! i know bandit signs work as well as reos,but from what your saying i need to pick one! ?? I’ve got the target zip codes lined up already. I”ve only got about 15-17 hours per week though and have access to the mls…
On January 24, 2010 at 2:55pm, Tony Zamberlin said...
Steph,
Is your ebook all i need to do reo’s or should i get the reo rockstar as well??
On January 25, 2010 at 3:09pm, Stephani said...
Yes, the eBook gives you all the info you need to do a deal.
I got started with no course at all. I just took action and figured it out as I went.
On January 25, 2010 at 11:02am, Tony Zamberlin said...
steph,
i though legally u had to close with the bank before u could sell to your end buyer ??
on the simletaneou closings u talk about u say close with buyer first then wire in the money ??
On January 25, 2010 at 3:08pm, Stephani said...
I do close with the bank first, we just do the closing at my title company.
We do both closings at my title company and then send the executed documents and the money back to the bank’s title company.
On January 26, 2010 at 3:54pm, JIM GOULD said...
HI STEPH, ARE YOU BUYING IN IMMEDIATE LOCATIONS NEAR YOU OR IN VARIOUS STATES. HOW MANY OF THE PROPERTIES DO YOU ACTUALLY SEE AND INSPECT YOURSELF.
On January 27, 2010 at 7:35am, Stephani said...
I just do business in Tampa, and I go out and look at almost all of them before I put them under contract.
On January 30, 2010 at 11:43am, Neil Uttamsingh said...
Steph,
The dry erase board is a great idea. I use one as well. Being a ‘visual’ person, I find the board to be a great help to me. On the board, I also write down my goals for the given day, month, and year.
Onwards and Upwards,
Neil.
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