Re: MENTORING PROGRAM? - Posted by Barbi Christy
Posted by Barbi Christy on March 07, 2001 at 03:12:26:
I’m sorry but neither I or my Husband found the “Personal Coaching” of any value. Maybe because I was already “in the heat of the battle” so to speak because I already had contracts on a couple of properties when I got the course. I was needing other info and all they wanted to work on was the “homework”. Well I and I believe anyone for that matter with a Jr. High education could do the assignments without “a coach”. I guess some people need that direct “I’m checking on you” type thing to motivate them, but if you are a go get’er and I believe most people who are really into REI HAVE to be, then you won’t need the COACH. The hotline wasn’t too helpful either because they are not knowledgeable for the state I am in, No mans Land of Oklahoma, so I needed to get someone local, a real estate person or attorney to verify what I was doing was legal in this state. I really believe that a local investors group would probably provide as much help or the information on this board is awesome with some of the experts who posts here. Don’t be afraid to ask for help, but always try to research it a little further for legalities of your state-so are really tough on REI and love to stick it to us! for trying to “cut into” thier action. Many attorneys and realtors have been doing these kinds of deals forever. They just don’t advertise the fact because they don’t want the competion from ordinary people just like us. And I also believe that real estate is 1-Large part LUCK of being in the right place at the right time and 2-having the knowledge of how to solve the problems at hand for the people who are involved (be it individual or Institution). That combination and a little sweat equity (“paint and powder”-cosmetic fixes) netted me a nice $18,000 profit from one little 2 bedroom house in the not so great side of town, because I was in the right place at the right time to help someone and myself at the same time. Its one of the deals that has saved my butt from some of the more “financially taxing” (nice word for MONEY PIT(MP) properties that I have had the misfortune to purchase because I could get them no money down…well there was a real good reason for that—they had a lot of hidden problems-although the sellers are suppose to sign a document that discloses these things-they don’t always be so forth coming with the information that they are willing to share about thier lovely properties…so be careful…and even though I hired a “inspector” to protect me from these “MP”, thier inspections weren’t always as thorough as they should or probably could have been…again be careful. Maybe you are luck enough to live in a state that requires licensing for inspectors and such and performance bonds for contractors. I have had more problems with thoese areas of the business than finding and making good deals. Anyone who has the handle on how to deal with contractors please let me know…I threaten the last one before he started that if he “screwed me over” I’d have to break his legs! That didn’t deterr him after all he is 6’4" 225 lbs—I am 5’4" 130 lbs. LOL What am I doing to do. Anyway, I hope I answered your question and THEN some right. The basic course is good but I think there are some others that are better and probably a lot cheaper. If you want to get in to this slower and with less risk, I’d try the lease option plan that Lori Simpson offers, I personnaly have not used it, but I intend to pursue that areana next along with tax certificates. Something that I don’t have to personally but in too much money or too much repairs into. Repairs can eat your lunch!