My first month as a Real Estate Investor (Long) - Posted by MRG

Posted by Dave K on April 19, 2006 at 22:32:38:

That’s nice. That was not me and I am not affiliated with

My first month as a Real Estate Investor (Long) - Posted by MRG

Posted by MRG on July 31, 2002 at 22:02:31:

Hello Gang…

Thought this might help some new folks know that it’s ok to make mistakes…

Started my business on July 1st. I have almost every course out there and still learning. Been a regular visitor to since 1998 but never did anything (Had a conventional business)

My first week I mailed about 200 letters to FSBO and FRBO. Got a call from a motivated seller. He was moving out of state and needed somebody to take over his payments.

I talked way too much told him how I would take over his payments sublease the property collect a nice fat option consideration…make a nice monthly spread…and have a huge “backend”. I faxed him an offer that night…he never called back…

I called him a week later…He told me how he got a nice fat option consideration…made a nice monthly spread…(you get the idea)…

THE THING I LEARNED THE MOST IN 30 DAYS…Don’t talk that much…build rapport on the phone…then ask the question…

“Don’t know if I could do this but if I could cover your payment say for a couple of years and have the option to buy the house down the road would you be interested in finding out more”? After they say yes I book the appointment!!! I could have had many more appointments had I done this more often.!!!

It has been a wild 30 days…I have had sellers tell me I was going to jail for doing lease options, seller laughed at my computer generated business cards…I am still motivated!!! I will make it…!!!

Subject change…Good news…signed up my first deal today will give the details later when I sell it. My goal is to have 5 appointments a week with motivated sellers and close at least 1.

Thanks to everyone…this board is my inspiration!!!

God Bless

Re: My first month as a Real Estate Investor - Posted by Adam

Posted by Adam on August 04, 2002 at 22:22:29:

How did you develop your list of 200 fsbo/frsb’s.?
Also what does your letter say briefly?

Re: - Posted by M

Posted by M on August 02, 2002 at 10:55:19:

Great advice. Thanks for sharing.

Re: My first month as a Real Estate Investor - Posted by Matt KY

Posted by Matt KY on August 01, 2002 at 24:27:44:

good post. thats all true… mastering phone skills takes a lot of calls. but once you get it down, youre UNSTOPPABLE!

My first month as a Real Estate Investor (Long) - Posted by Craig

Posted by Craig on August 01, 2002 at 24:09:48:

I am closing my first deal in 16 days. Your words are an inspiration to us all. I’ve disclosed a little too much about potential deals as well. May we all say as little as we can to those who don’t understand.

Re: stupidist thing - Posted by Jack

Posted by Jack on April 19, 2006 at 09:00:39:

What is the second stupidist thing you have ever heard?

Re: I deface those that deface signs - Posted by Natalie-VA

Posted by Natalie-VA on April 19, 2006 at 07:48:54:


I believe that the political signs are actually legal. You know the politicians like to make laws that don’t apply to them. That’s why they’re also exempt from the Do Not Call laws.

I think it’s really disgusting that these politicians say, “We listen to the people…they don’t want to see trashy signs or receive calls at home…I am going to pass a law that says no one can do those things but me!”


Re: newbie investor to start out? - Posted by Brent_IL

Posted by Brent_IL on February 09, 2004 at 20:15:05:

There are many paths to profit. You should start with something that interests you and takes advantage of your skills and experience thus far.

For example, wholesale rehab flips are probably more profitable than pretty house financing flips, but I don’t do very well with rehabs. I overestimate or underestimate renovation costs. I like numbers to work out close to the way that I think that they should. That’s not the way that rehabbing works. Rehab isn’t a very good starting point for me, but I can do well with financial flips.

A profitable rehab property is one that’s bought cheaply enough. There isn’t too much non-price wheeling and dealing. For one who hates math and doesn’t own a calculator, but has been working on rehab jobs for years, wholesaling rehabs would be a natural place to start. They would probably flop trying to do a ?numbers? flip, but rehab could be their road to riches.

It?s all relative. Most folks make more money when they are doing something that they like to do.

Http:// - Ron Starr

Http:// - JohnBoy

Re: stupidist thing - Posted by Dave K

Posted by Dave K on April 19, 2006 at 09:24:29:

The question you just asked.

Re: I deface those that deface signs - Posted by Chris in FL

Posted by Chris in FL on April 19, 2006 at 08:08:47:

This could be wrong, but I have info. from a friend who is both an investor and political activist, and he says the laws apply to signs, period. No special exemptions… The politicians are just as much outside the codes as the investors. Don’t know much about it myself, so I am not sure if that is local or national, and I don’t guarantee it. I don’t waste my time studying the details; all I care about is how it is enforced.
As for the person that said they deface signs from “lawbreakers”, I find that very narrow-minded. Seems to me someone doing that feels threatened by other investors, and sees them as competitors when they should be seen as people in the same business that we can share information and maybe even deals with. There was a time when I took down the “competition’s” signs, and I know some people take down mine (when I occassion to use them). I have grown up since then, and have become a lot more successful in the process. Best wishes!

Re: newbie investor to start out? - Posted by gb

Posted by gb on February 11, 2004 at 19:02:30:

hi brent. can you please explain what a ‘finacial pretty house flip’ is, it sounds very interesting.

Re: I deface those that deface signs - Posted by The Frisco Kid

Posted by The Frisco Kid on April 19, 2006 at 13:30:30:


In most of the cities I invested in, the sign ordinances explicitly exempted political signs.

Unlike Jack I don’t care about the bandit signs except for the jerk that places signs in places that can lead to a problem. I remember one case where a sign was erected in a meridian in a busy intersection and the pole had tilted into the left turn lane and cars avoiding the pole were almost colliding with cars in the next lane. I heard later that the sign was returned to the investor through the front window of his latest remodel.

Re: newbie investor to start out? - Posted by Brent_IL

Posted by Brent_IL on February 11, 2004 at 22:32:14:

Pretty houses need little in the way of cosmetic fix-up, as opposed to “ugly houses” that need repairs or rehab. A financial flip is a term that implies that the resale value is in the terms of the deal and not in the physical property.

Here?s a simple example without a down payment. This house is free-and-clear, but if there was an existing loan I?d take over subject-to with substitution-of-collateral and negotiate on the remaining equity.

A house has a FMV of $100,000. The asking price is $100,000. I put on a dog-and-pony show and offer to buy for $120,000 with 150 payments at zero interest. My monthly payment is $800.00.

If I were to finance $100,000, i.e., 100% of the house?s true market value, for 150 months with an $800 payment, the APR is 3%. Cheap loan.

If I ?flipped the financing? by selling via an equity-holding trust and offering 100% financing of the sales price of $110,000 at 11.65% on a 30-year schedule, the R/B?s payment is $1100 a month. Even though I paid more than the property was worth, and sold it for less than I paid for it, the transaction produces $300 a month cash-flow and could be designated a financial flip.

Re: I deface those that deface signs - Posted by Jack

Posted by Jack on April 19, 2006 at 18:00:04:

Why is it that there are those few in this world that think it is their god given right to save other people from themselves. Bandit signs may or may not be legal in a particular area, for politicians or investors. If you don’t like them, don’t use them, but at least have the decency to let other people do what they want to do. The consequences are their responsibility.

Re: Who regulates bandit signs? - Posted by Dave K

Posted by Dave K on April 19, 2006 at 21:06:39:

That’s the stupidist thing I have ever read.

Re: Who regulates bandit signs?-Stupid? - Posted by Jack

Posted by Jack on April 20, 2006 at 13:34:55:

Stupid? I hardly think so or you have not read much. More likely you are impersonating someone else.