The 80/20 Rule.. - Posted by Houserookie

Posted by asdf on December 12, 2000 at 16:30:25:

Reasons these sellers may not have been “educated” on creative financing is that your competition does not have the skills you do to present the offer; or your competition does not have the skills or knowledge to find those sellers. You may consider Realtors your competition-but many of them do not know much beyond having a buyer go and get financing to cash out the seller. That is a good thing, because it allows you to come up with the solution others can’t.

The 80/20 Rule… - Posted by Houserookie

Posted by Houserookie on December 09, 2000 at 11:18:19:

I find it interesting how there could be over 40,000
members on Terry’s list, yet less than 20 participate on a regular basis.

Are the rest making so much money in RE that they don’t need this board anymore? Do people just obsorb the information and do absolutely nothing with it.

I live in Minneapolis, and the whole concept of creative financing seems to put agents to sleep. When I mention a great deal, everybody seems to know someone that did something at one time. But no one seems to be doing it.

I once attended a real estate seminar, and next to me was a
real estate broker. We Started talking about buying notes and flipping it at closing. After fifteen minutes of conversation all he could say was it was interesting.

The must be thousands new investors in RE every year due to seminars and TV informercials. Where are these people?

Do they simply spend $1000 and expect to get rich doing nothing?


know-how is not enough . - Posted by will

Posted by will on December 10, 2000 at 24:21:16:

in order to accomplish something you need 3 ingredients : knowledge , skill and desire .
the first part is easy : keep buying all seminars and bootcamps . if you stop here, you become an eternal student: you know so much that you can actually write a course but you never make a deal .i actually have a friend like that .
desire usually vanishes after a good dose of failed attempts to apply knowledge .this is where the weak are left behind .successful people have the habit of doing things failures don’t like to do .they don’t like doing them either but their disliking is subordinated to the strenght of the purpose .winning is a habit . so is loosing .
thank God for sites like this , they actually make a positive impact on many people’s lives by allowing people to make R.E. education and networking a habit .
the only limit to our realizations of tomorrow will be our doubts of today .this site can help eliminate some of our doubts, and keep the desire burning .
for those who lost their motivation : hang in there and you will make it .you can’t have answers to all your questions but remember that " in unknown lays the field of all possibilities ".
at last , don’t worry about lack of skills .you can’t play pro tennis starting tomorrow morning ; same thing with r.e. investing - you crawl before you walk

in behalf of all the silent participants THANKS CREONLINE and happy holidays

Re: The 80/20 Rule… - Posted by mike

Posted by mike on December 09, 2000 at 22:36:52:

Not sure what your getting at Houserookie, but isn’t it like everything else, the flock gets thinned out, “many have bought but few have used it”. In the end I think its good tho or our ‘market’ would not exist. People who honestly believe they can own the house they bought end up selling to us at some point, renters who never had a clue they could be home owners and when they do, we get their house sooner or later. We need those kinds of people or we would not do as well as we do.

As for the level of particapation on this board, if thats your issue, oh well I say. Some people are spectators in this game of life. At some point aren’t we all?

What is it you are looking for? - Posted by Somewhat confused…

Posted by Somewhat confused… on December 09, 2000 at 20:25:11:

What is it you are looking for? Do you want more participants on this board? Are you looking for more investors? Are you concerned about unseen competition?

Who cares about where the others are and what they are doing? Even if there are few people doing creative deals, so what? It has little bearing to what you should focus on. I am happy that very few people do it.

It’s much deeper than that.(long)0 - Posted by howard-nyc

Posted by howard-nyc on December 09, 2000 at 18:42:29:

People have different motivations and different social norms that drive them here(cre) or elsewhere.

I first got involved with Paper way back in 1993. Bought a course through the mail. Even went out and got a mortgage brokers license(florida). Mailed some leads and got a few calls. The discounts were too high! Eventually found out that the guy I was sending my deals to was a daisy chain broker who had sold the manual to create his own bird dogs. I dropped out when I didn’t see the easy money materialize! Just think if I had stayed with that!

My first foreclosure seminar was in South Miami(I am from there, now live in NYC) around 1984(i was about 23yrs old and attending college and working part time). Any body remember Tom Vu! I came out of that seminar and everything I heard sounded Vietnamese to me! He was actually doing the seminars.

I did infact go down to the courthouse and dig out some foreclosure leads. Drove by some houses, and now I can not even remember what happend after that. I never spoke to one “Defendant”.

Next thing I know it’s 1993. Some guy on television came to town and held a pre-seminar. Started preaching about “financial engineering”. Turned out to be a $5000 boot camp where they send you out to make offers and then come back and talk about it. They even called some newspaper leads on the phone for everyone to hear in the room. They gave us so many contracts and manuals I didn’t know what to do. We knew everything from “2nd mortgage crank” to “down payment promissory note”. I never made an offer. Not one! Anybody remember Harvest Financial Services out of Hollywood, FL?

1993-1994 attended the Paper Source convention. Never got a paper deal.

Turning 40yrs old 1st-Qtr-01. Left my job in January of this year. Spent the entire year doing temporary computer assignments and trying out all kinds of stuff. And adding additional continuing educaton credits to my real estate license(which I do not use for traditional real estate sales).
Found and spent some time between Jan and March on this board and others. And then something else came up and I left the boards Month of April bought Jeff Beabian’s lease option program.(I already have a more advanced l/o program from 1993) Did not open it!

Anybody see a pattern here!

End of October at the library I picked up “The Millionaire Mind” by the same author of “The Millionaire Next Door”(which I have not read). (BTW, these books are really, really full of statistics and a little dry to read, afterall the author is a Phd.) But they are a blue print for building wealth, or at least how others have done so.

After reading the first book I have absolved myself to being self employed. The book was the final message giving me that “fed up” feeling. It spelt out for me that if I am going to get ahead I need to do it on my own and be self employed to build the income I need with the time I have left to work in my life. A job paying $40,000 is not going to do it for me.

And re investing/trading/brokering and re/loans is the path I have chosen. (Would you agree that I have a little familiarity with the subject?) It is the fastest bestest’ way I know to build the equity that I need for the rest of my life.

I now have investors lined up and I am planning my buyer/sellers advertisements, building a fax list of re offices, and starting a lis-pendens campaign. And pretty soon I will be requesting alot more help from this board.

So there are many reasons people come and go and come on this board and others!

Re: The 80/20 Rule… - Posted by Hmmm

Posted by Hmmm on December 09, 2000 at 13:51:38:


Can you please explain what you’re referring to? Do you mean that only 20 consistent posters visit this board? I will tell you that I used to reply to questions. However, after spending a lot of my time answering questions and not getting a simple Thank You from these people who want answers to their problems right now I said the heck with it.

Re: The 80/20 Rule… - Posted by Cork Horner

Posted by Cork Horner on December 09, 2000 at 13:42:18:

hello all you ’ lurkers’. That is what this post is about, all those who are there but we don’t hear from. Ironically, that is the basic nature of entrepreneurs. They get the info and " they are outa there". I have noticed that ’ the real players’ do post from time to time as they are reading this too. I am referring to the monitors and leaders in creonline. As to re agents not having a clue, it is true that most don’t, unfortunately. In california, it is a highway patrol joke to ask for a real estate license because everybody doesn’t have a drivers license.
Please, no flaming from re agents! I was one myself in another life. Anybody in san diego who wants to schmooze, I am here.

Re: The 80/20 Rule… - Posted by TRandle

Posted by TRandle on December 09, 2000 at 12:56:08:

If it were that easy, there would be numerous folks doing REI, and it wouldn’t pay as well. I think that once people figure out that it actually is “work” and that they’re not going to get rich quick, many of them just fade away.

My experience is that the business comes in waves; sometimes I’m rocking and sometimes I’m not. Right now I’m not and dealing with anxiety regarding the next payday is not for everyone. My two cents…

Re: The 80/20 Rule… - Posted by MikeSon

Posted by MikeSon on December 09, 2000 at 12:33:17:

its kinda like a diet plan. On Jan. 1 the entire world wants to lose weight by Feb. they have other obligations like paying their bills.


Most give up B4 they become investors. NT - Posted by Brent_IL

Posted by Brent_IL on December 09, 2000 at 11:47:58:


Re: It’s much deeper than that.(long)0 - Posted by Steve (OH)

Posted by Steve (OH) on December 15, 2000 at 14:32:46:

Howard, good post…I see your point.

Not sure if you are still in the “reading” mode, but try “Rich Dad-Poor Dad” by Robert Kiyosaki and/or “The Cashflow Quadrant” by the same author. Both good books (esp: Rich Dad).

I read the Millionaire Next Door and thought it was very informative; although ditto on the stats comment…I could do without reading 20 pages on how a doctor buys a car versus how a plumber does it! Good read though.

Best of luck!

Re: It’s much deeper than that.(long)0 - Posted by Houserookie

Posted by Houserookie on December 09, 2000 at 19:06:14:

I’m not sure who you are referring to with your note
purchase course, but I got involved in RE after having spent 400 bucks on Ted Ciuba’s course.

I made $20,000 off his course and have since gotten more involved in RE.

I then spent some time brokering seller financed notes and have bought/sold properties using owner financing and flipping contracts for profit at closing.

This got me curious about BCD credit arena, and realized that the key to RE is in structuring the financing.

To date, this remains my main strategy to profit in RE. I’m not much of a L/O person, but know that you can make a fortune at it.


That’s sad… - Posted by Mark (SDCA)

Posted by Mark (SDCA) on December 11, 2000 at 12:16:53:

I do see lots of thank yous on here… But the last thing I would want to see is a thank you for every single post on here. Talk about junk posts!!!

As for me, I don’t feel I need a thank you for every answer I post. Jus the act of posting is all the thanks I need. I have been doing REI for 10 years now and feel blessed to have gotten involved in it. I received a lot of help along the way and continue to receive it. So I feel it is my duty (and my pleasure) to give back what I can…


Re: The 80/20 Rule… - Posted by HOuserookie

Posted by HOuserookie on December 09, 2000 at 16:15:27:

I’m sure there are many the read, read, and read some more. More than you and I think.

But if you look at the number of actual contributors, there are less than a handful.

Terry mentioned that there are something like 40K people on CREONLINE list. Im just wondering where those people are.

But then they probably have too much money and time to do things in life that I don’t.

But then if that were the case, I find it surprising that most of the sellers I encounter have never even heard of creative financing. You would think that there are others out there competing against you.


Re: The 80/20 Rule… - Posted by Geoffrey Faivre-Malloy

Posted by Geoffrey Faivre-Malloy on December 09, 2000 at 14:09:10:

I appreciate you Houserookie! Don’t stop answering my questions please! :slight_smile:


Good for enlightment only… - Posted by howard-nyc

Posted by howard-nyc on December 18, 2000 at 14:30:43:

…the book Rich Dad Poor Dad. I would not follow it for sound advice. It does make for a good “story”. Almost makes you want to “preserve it” as a family heirloom you could pass to the next generation. I think the author is a re-guru/seminar leader in training.

I am sure you probably saw JTR’s review of it. If not you should. But then, on second thought, maybe you shouldn’s as it will bust your “enlightened” bubble.


Re: It’s much deeper than that.(long) - Posted by howard-nyc

Posted by howard-nyc on December 10, 2000 at 11:57:46:

The important underlying issue of this thread is a point of “action”. You did take some action with the materials you acquired.


Re: That’s sad… - Posted by asdf

Posted by asdf on December 12, 2000 at 15:14:10:

Hi Mark-

I agree a Thank You for every post is clutter. I’m not even talking about a personal Thanks. I just mean one Thank You reply from these posters who ask for help and get tons of replies from multiple posters yet do not acknowledge the help.