startin my dials!

[jpstephens]

I want to start off with everyone by saying thank you. If you don't know I have posted ALOT on these boards in the last 3 weeks. Just check out my post amounts haha.  

But I want to inform you that after reading, learning, talking I am finally going to start my investing.  Tomorow is friday and I am going to get a list of FSBO's out of the newspaper and start my dials. I am going to look for motivated sellers, and keep the property information out of it. I am not too worried about the details of the property as much as I am interested if they really want to sell their home.  

I still have fears that I don't know everything, but I'm starting to think that the reason for this fear is that I AM LEARNING. I am learning that I will always not know everything and the more I read the more is uncovered. I just have to get into the picture and see how it really goes.  

I just don't want to find a property and not know the best place to get insurance or money from if I need it fast...I guess thats where all of you will come into play to serve as my mentor through the process.

Thanks again and wish me luck!

[cecsix]

good luck dude!

you'll be fine.  

[Mdhaas]

Go get'em! :

[jpstephens]

Thanks guys, what i'm learning is that its not about the $$$ its about getting a plan, a system down and the money will come, thats granted. This is a business that you can make as much as you want as long as your willing to plan.

My plan is to aquire 10-15 every 5 years, and every 5 years follwoing that sell them off for their equity and help pay off the exisitng mortgages so I will make a boat load.

The dials I think I can do, its the meeting with sellers that makes me nervous! EEK

[cecsix]

Thanks guys, what i'm learning is that its not about the $$$ its about getting a plan, a system down and the money will come, thats granted. This is a business that you can make as much as you want as long as your willing to plan.

My plan is to aquire 10-15 every 5 years, and every 5 years follwoing that sell them off for their equity and help pay off the exisitng mortgages so I will make a boat load.

The dials I think I can do, its the meeting with sellers that makes me nervous! EEK

after you talk to people on the phone and go out and meet a few, you will not even think twice about it anymore.  just take a list of things you want to ask and discuss with you.  just like sales, precall planning is crucial for success.  ironically, it is selling for us, because we have to "sell the seller" on the idea of giving us a good deal with great terms so we can make profits.  

[jpstephens]

I sure hope!

I really want to automate my real estate so within 5-6 years I will be able to once again enjoy the true fruits of life.

We'll see...wait not we'll see...I CANT WAIT!!

[d_sbrown]

jp,
I've been reading your (many) posts and I think you are starting to get it.  I have started quite a few new things in my life and I have found out a few things.  You will never have a firm grasp of this until you just do it.  Get out there and put your butt on the line and learn your way through whatever comes up that you are unsure of.  You have a good idea what to expect and where to come for help. now...

GET OUT THERE AND TEAR EM UP!!!

Luck,
DB

[cecsix]

Robert Schuller:
"Better to do something imperfectly than to do nothing flawlessly."

H. Jackson Brown, Jr.:
"Nothing is more expensive than a missed opportunity."

Barbara Sher: "Doing is a quantum leap from imagining. Thinking about swimming isn't much like actually getting in the water."

John Wooden: "Don't mistake activity for achievement."

Napoleon Hill: "Don't wait. The time will never be just right."

[rhm76384]

Hey,
     
     "The greatest step toward success is self-confidence. The greatest builder of self-confidence is self-esteem, and self-esteem comes from doing the daily things you know you should dol sometimes your self-esteem will start to soar when you make some critical decisions - decisions to walk a new road, to start a new direction, to start a new discipline." - - Jim Rohn

     You are well on the road to success. Go get 'em.
Peace,
Richard

[kdhastedt]

"Trying" is just a loud way of not doing something...

Lee Iococa:  More money has been lost in America through inaction than through wrong action (probably hatchet-job paraphrasing)...

Keith

[propertymanager]

JP,

If you really want to get started - GO LOOK AT SOME HOUSES!  Again, you're off track.  You said in your post that you're going to get the paper and search for motivated sellers.  NONSENSE!  How could you possibly know whether a person is motivated if you don't know what house values are?  There's no doubt about it, you've got to get away from the computer and your house and look at houses.  Until you've done that, you're just wasting your time.  

I disagree with the others - I don't think that you're getting it.  All of the psychological, feel good mumbo jumbo in the world won't make you successful.  So far, you're nowhere.  Go look at houses, go talk to a lender, go visit an insurance agent, pick an area in which to invest!   Shake some hands - meet some people.  Have you been to a REIA meeting yet?

I put your chances for success at 30% and declining EVERY DAY!

I'd say good luck, but it's not about luck.  Only you can take that big step - out of the house!

Mike

[kdhastedt]

He's "trying", Mike (see definition above...) and that was my point...

Keith

[jpstephens]

I'm sorry but i strongly disagree. Why would I waste my time looking at homes if the seller is not motivated? I am looking at listings as we speak and am making a list of close to 100 #'s that are from the current real estate section in the newspaper as well as archived copies at the library.  

My plan is to call 20-30 two times a week and set up appointments once I see that they are motivated, cause if I go visit the home and can't get them down on the price then it was a waste of my time, and time is money.

And don't say I haven't done anything, so far I haev studied, made mroe posts then any newbie on the board, tried to learn the BASICS before i go out there. I'm sorry but I'm smart and I look at real estate like battle, your not gonna jump in without a little training. Now that I know the basics I'm ready.

I also signed up for the NYC Real Estate Expo hosted by trump and has 72 different seminars. Check their website out if you have other questions about it.

So for anyone that would be a support and that has started by making dials, do you have any advice that i can use when looking through FSBO section of the paper? What clues am I looking for to find motivated sellers...or should I just start cold dialing all of them and weed them out that way?

[propertymanager]

OK, OK, I give up!!!  UNCLE!  UNCLE!

I changed my mind.  10%!

Mike  

[cecsix]

mike has a point though JP, you do need to learn your focus market in addition to all the knowledge you've gained by studying.  people selling their homes will normally say their house is worth significantly more than it would actually sell for.  so it helps if when you're doing your dials, and the seller seems motivated, and says "the house is on 123 main street, and it's worth $150000", if you know the area well and you can say "wow, that seems really high for that area, where did you get your value?"  that helps.  

so really, i think you are doing some things well in terms of acquiring knowledge and trying to get started, but it isn't a waste of time if you go look at some houses, even ones you're not really interested in buying.  if you have a friend who is a rehabber/contractor/property manager, go spend a day or two just looking at stuff with him.  you'll learn a TON of practical stuff that you aren't going to read in books or on a website.  

just my opinion obviously.