Posted by BOB DAVIS on March 13, 2006 at 10:49:07:
WHAT EXACTLY DID YOU DO?? I’M LOOKING AT ALL I CAN TO MAKE MONEY IN REALESTATE. THANKS, BOB
who has the best info and system - Posted by fade
Posted by fade on March 11, 2006 at 12:42:46:
opinions and experiences, who sells a good step by step program that has helped anyone do deals that they would not have been able to complete otherwise? total package or niche
Re: who has the best info and system - Posted by John Corey
Posted by John Corey on March 16, 2006 at 01:26:03:
There is no best or single source for all that you could do or even what to do in a specific situation.
The rules and laws are slightly different in each state. Each buyer and seller is have different preferences. Each property is unique.
Hence any book or course will be general about certain steps or ideas and not really a how to. Some authors have manuals for specific types of transactions that are pretty detailed. They are not a cook book which will work every time.
I and many others purchased info that somehow appealed to us and then got started. We bump into things and find out later that we did something wrong (or at least less well than we could have done).
You can get a mentor or adviser who will review specific deals. That is not a bad idea. Just set it up as a split of the profits rather than an upfront fee.
There are many ways to invest so even authors that sell ‘how to’ materials will narrow the focus to something specific (rehab, flipping, etc). Go to the library to see what is there for free. Then go to a bookstore and read for free until you find a book you feel is worth the price.
If an investor is serious almost any educational costs can be recovered on the first deal after buying the material. If you spend $20 to $2,000 you can easily make that back on a deal. Many who spend money on education never get started.
John Corey
Re: who has the best info and system (long) - Posted by John
Posted by John on March 11, 2006 at 15:47:25:
You ask a great question. I wish there was a straight and simple answer.
Can you buy one course and go do a deal—Yes
If you are doing this for the long term is one course all that you need —NO
I have been investing in REI now for about 6 years now, I try to buy about 10-12 properties a year, most I keep as rentals but I sell off a few. I started like most with Sheet’s course about 10 years ago, got enthused, made a couple offers that were rejected and decided REI did not work here. I put it up in the closet, and worked my job. I was inspired by Trump and people like him. I bought books time to time Like Conti and Finkle, Robert Shemin, Ron LeGrand Cashflow Generator, and bought Bob Brusses material. I spent a couple grand on the Fortune 21 course a waste IMO. In my life things changed, my knees went bad to the point my job got harder and harder to do. I had to do something to make money so I got out and reread everything I had. Some time I discovered this site, which I found to be the most informative and insperational place in REI. I went to used bookstores and Libraries and read many REI books. I bought my first property as a Preforclosure sub 2 and sold it 60 days later for a 40K profit. I then bought Bill Bronchick’s material (All of it) Everything came together. I felt I learned, and I moved forward since.
Do I use one program— No
I have blended a number of programs into a system that works for me. No one’s course can offer everything. No purchase is like the one before. Every one is different and needs a diferent approach.
Finanily, My best advise, invest time and money in your education. Devolope a approach that works for you. Success in REI will come to those who are prepared to offer solutions.
Re: who has the best info and system (long) - Posted by fade
Posted by fade on March 12, 2006 at 14:41:04:
nice first deal, who’s material walked you through the subject to deal? easy to mess that one up, getting past the due on sale clause and all.
Thanks for your post
Re: who has the best info and system (long) - Posted by John
Posted by John on March 12, 2006 at 16:41:46:
It should have been a diaster. I did everything wrong. I took title in my name and notified the lender about the change, certified leter. They never responded. I just made the payments before the due date. About 4 months after the sale the lender sent a thank you letter and offered to finance me again.
The wise man says you can’t do it this way but the fool did not get the memo so he goes and does it. I have done many since and still marvel at the mistakes I made on this one and still came out with my best deal to date.