Need Advice - Posted by Yolanda (NJ)

Real Estate Investing
1

Posted by Ben (NJ) on February 05, 2002 at 12:29:50:

anyway, I have houses for sale all over NJ well below market value. Can’t say anymore but e-mail me if interested.

2

Need Advice - Posted by Yolanda (NJ)

Posted by Yolanda (NJ) on February 04, 2002 at 20:58:04:

Hello everyone,

I am new to real estate investing. My husband and I bought our 1st house a week before we were married. Since I am a real estate agent 3 months I received a commission.

I work part time as an agent. It is really boring going into the office to cold call. Looking for sellers who want to sell their house. It’s the same thing either they hang up on you, or say in the future or maybe want a comp to see if they can sell it on their own. I do not want to fail in this business. I’ve been working at my full time job for 13 years and I am getting depressed. I can’t quit because we have a mortgage. Then they are those without a job (September 11) so I should be greatful.

My husband is not that interested in investing and my credit is not that great. He bought the house and I received commission. Where do I start in order to be a success in the real estate field? And be able to leave my job.

All of your advice is greatly appreciated.

Thanks

3

Where in NJ are you located? (nt) - Posted by Ben (NJ)

Posted by Ben (NJ) on February 05, 2002 at 04:11:39:

nt

4

Re: Need Advice - Posted by Zack W

Posted by Zack W on February 04, 2002 at 23:16:26:

Yolanda,

Forget cold calling, and all the other stuff you learned in real estate school. When you build a good enough reputation sellers will call YOU. If you want experience and immediate cash flow just find some real estate investors to work with. Most of these people will have agents but rarely will they be obligated to one in particular. Offer to help them locate properties and when you find them show the investor the house. This will give you time to pick their brain and learn about how they buy. If you sell them the house you will also make a commision. Whether you list the house or sell the house you still usually will only make a 3% commission, and it is much easier to sell houses to investors that it is to try to convince a seller to list w/ you.

Not many agents enjoy working with investors due to low ball offers. If you are looking for an education and a little cash, this route may prove to be profitable.
Being an agent you have access to the entire mls, start hunting for deals and researching your market. Go look at houses and take notes. After looking at 50-100 houses you WILL know when a deal is a deal. Good luck with it, and by the way, if you want to learn about real estate investing you picked the best place to start. This site will become a huge resource for yah.

Zack W.

5

7 Steps to Get Started in REI - Posted by Phamtastic

Posted by Phamtastic on February 04, 2002 at 22:11:54:

Yolanda,

Happiness is a state of mind and I know your checkbook may not state it but it does start with thoughts of success.

If you let your mind take over like it has for most of your life thus far you do not have a chance. Start by having a strong desire to succeed and nothing can stop you. I can tell you that I started as an immigrant from a war torn country and if I can make it than you can too. I started out with no education, can?t speak the language, no money, no contacts, and no where to go but up. Only desire saved me. Desire can get you all the resources you need to be ultra successful and you picked a great industry (RE) to accomplish your goals.

Here is where to start:

  1. Read as much as you can on these message boards (check out other boards like creonline .com or real estate investing .com) and use the Archive Search Feature to get answers to your specific questions

  2. Pick up Ron LeGrand’s Fast Cash Course $56
    800-496-1874 or any other courses that can help you. They get more expensive but well worth the price…start small then progress as you make more money. ?You don?t know what you don?t know.?

  3. Get a mentor…check around for people in your area that is successful at REI and take them to lunch and ask away.

  4. Go to REI Club meetings to network. Share ideas, leads, and alliances.

  5. Start Marketing Now…as you learn…you will make mistakes but that is the only way to learn. Earning while you are learning is really cool for you and your bank account. This is a must, even if you just pass out flyers or put up bandit signs.

  6. Help others…there is something magical about spreading what you know. (Spread the Love)

  7. Persist, persist, and persist…stay motivated to be elevated! (towards your dreams)

Hope you are successful, people like myself are routing for you to win!

Phamtastic

6

Re: Where in NJ are you located? (nt) - Posted by Yolanda(NJ)

Posted by Yolanda(NJ) on February 05, 2002 at 11:42:46:

Passaic County area.

7

Re: Need Advice - Posted by Yolanda(NJ)

Posted by Yolanda(NJ) on February 05, 2002 at 11:49:42:

Thank you for that great advice. I will start looking at houses in my area and if I see a good deal I will contact investors. Thank you again.

8

Re: 7 Steps to Get Started in REI - Posted by Yolanda(NJ)

Posted by Yolanda(NJ) on February 05, 2002 at 11:59:10:

Thank you for your great advice. I appreciate your encouraging words. Thanks again.