First deal success story - Posted by Kent_OR

Posted by Kent_OR on April 24, 2000 at 21:44:03:

After reading books and learning real estate investing in theory for about seven long months, having a bad case of analysis paralysis, I went to the CREonline convention. It really opened my eyes to the world of possibility before me if I wanted to set aside all the fear, uncertainty, and doubt and go for it. It was either that or stay at my…JOB. Ugh. Well, the CREonline convention coupled with some excellent mentoring by a veteran investor from my investor club helped me land my first deal.
Another investor who is basically a ‘deal finder’ told me that I could get a cosmetic fixer property from him with no money out of my own pocket. I said great because I don’t have any! :wink: I should close on the property either later this week or by early next week. After $3,000 in repairs (conservative estimate), I’ll net about $10,000 when the house sells.
I really appreciate this bulletin board and find it very motivating. If there are people who are thinking about real estate investing, I have some recommendations to increase your likelihood of success:

1.) Read all of Robert Kiyosaki’s books and play the game cashflow 101
2.) Read all the articles and success stories on this site
3.) Find an investor group nearby and attend. This will help motivate you. I got tired of going to the meetings and saying, "Yeah I got no deals going still."
4.) You don’t have to understand everything to get started. I first believed this and stayed stuck for way too long. If you don’t know, you can find someone who does and can help you.
5.) Form a team of professionals that work with you: realtor, accountant, lawyer, loan officer, title company, etc.
6.) Get thee to a CREonline seminar at once! Immersion in this unconventional (i.e., creative) way of thinking was really instrumental for me.

If you have any questions or comments, please feel free to email me at klorm@hotmail.com

warmly,
Kent from Oregon

P.S. Also, since the CREonline convention, I got two more deals finalized: (1st deal) one fourplex and (2nd deal) three duplexes all with no money out of my own pocket which should have just about a break even cashflow. They should close within a month or so. I look forward to exiting the rat race. The sooner, the better.