Have Made$80,000 Wholesaling And Quit My Job.
hey fellow investors i have made more money in three months than I have in three years working my regular job so I have giving my boss his walking www.papers.I plan to invest in more real estate courses to broaden my www.education.I feel that if i put more hours into this rei i can take myself to another level, any advice on how to become a fulltime investor?
Shadow:
You are on the right track. Education is the key! I would recommend Ron Legrand, David Lindahl as some great teachers. John "Cash" Locke also has a good course..
I wish everyone would think like you and invest in their education. That will be the key to your success!
Best Regards,
Jeff Adam
[addsig]
$80K in three months and parttime even. Congrats!
Now, how do you become a fulltime REI? Well, my first thought would be to continue to do what you've already been doing quite well, and take up golf in the time that used to be your "real" job.
Good luck,
Roger
Shadow - The best educational value is at your local community college. Chances are, the registration period just started for the Janurary classes. Here in Maryland, I spent $300 on the 60 hour state course to sit for the agent's exam and I'm half way through the state classes for appraising ($800). Wanna learn more about RE, call you community college and take the APPRAISAL course! Good Luck!
Carnegie was a great promotor of education. He DONATED loads of money to public libraries across the country. You can find a load of books and information for FREE at your public library.
Good Luck!
Great Job!! Give us some details on how you did it? How much money did you have to start with? How much time did you put into it each week? What were your main marketing tools?
That's great! Right now I'm reading Dwan Twyford's $10 into $10K in 30 days. I want to be able to come across my first deal in the next month or two. I live in Westchester County, NY. What should I do first? Has anyone used the forms in the course and have they worked in NY? Any advice? Thanks
Future Investor
keep on keepin' on! good luck......km
thanks for you guys support. i stated with no money but with alot of confidence. i read a book on whole saling and went out looking for a property to put under contract. found one for $10,000 dollars a fixer upper in a bad hood. found a investor who knew some thing about wholesaling offered him a piece of www.profit.long story short lost the deal because the investor wanted to much and did not know what he was doing.bought another book russ whitney millionare mentor book gave me enough information to do it myself and the rest is history. 8-)
Shadow, did you deal in FSBOs or MLS properties? Also, what type of marketing did you use (direct mail, bandit signs, ect.) I' m a newbie, and would like to hear from somebody who is actually succeeding in this business.
Time to get on the ball and go FULL TIME... lol just joking
great job!! Keep it up
JB
[addsig]
So you made $80,000 just wholesaling?? If so, WOW!!!
Education is key yet "analysis paralysis" isn't very good. Educate yourself but never slow down doing what you're doing now to keep the flow coming in. I see lots of people in the "analysis paralysis" stage. They actually over-educate themselves. Not you, obviously you have taken the right steps but for others, read the foundation but theres some things you can't learn without just goin out there and doin it! I love foreclosures because not only do they give you money but they give you that feeling of actually helping someone that would be losing their house and walk away with nothing.
Quote:
On 2004-11-16 10:18, iamhappy wrote:
So you made $80,000 just wholesaling?? If so, WOW!!!
Great job on the first deal. I only made 24 grand on my first deal! Feels great doesn't it? I would definately urge you to continue to study while working on your deals. There are investing clubs in almost every city and you can attend and network with other investors like yourself. Also, read the article on Real Estate agents in TCI today. I would recommend that you do NOT go that route. It's been my experience that RE agents are the least creative and the least motivated folks out there. (now that's not said to offend anyone in particular but it has been my experience that you rarely get a call back, let alone any service). If I had 80,000 in pocket to invest, I would probably do some pre-foreclosures and flip quickly or that's enough to do a hard money lend on a small deal. Great R.O.I. in a very short period. 8-)
Congratulations, and way to go!!
thanks for you guys advice and encouragement i will continue to educate myself and do wholesaling. i would like to learn how to do many other forms of real estate investing so i can become a complete investor. 8-)
Torres, I'm a newbie, too. There is a REI club located in New Rochelle that meets every last Tuesday of the month. Ist meeting is free, then it's $125 for the year. I'm from New Rochelle and I'm looking to make my first deal soon. I feel pretty confident with the basics, so now it's a matter of just getting out there and not being afraid. There's nothing to lose except maybe $10!! I'm also reading Dwan's stuff. Did you attend the Real Estate Wealth Expo at the Javits?
Quote:
On 2004-11-12 18:37, torres wrote:
That's great! Right now I'm reading Dwan Twyford's $10 into $10K in 30 days. I want to be able to come across my first deal in the next month or two. I live in Westchester County, NY. What should I do first? Has anyone used the forms in the course and have they worked in NY? Any advice? Thanks
Future Investor
[addsig]
I was also thinking about buying Dwan's program. I was thinking about buyin the "Foreclosures in your backyard." I know someone who purchased it and said it was good.
Quote:
On 2004-11-12 18:37, torres wrote:
That's great! Right now I'm reading Dwan Twyford's $10 into $10K in 30 days. I want to be able to come across my first deal in the next month or two. I live in Westchester County, NY. What should I do first? Has anyone used the forms in the course and have they worked in NY? Any advice? Thanks
Future Investor
One more thing, as I was told by the person who used this program successfully, you have to take the information and apply it the way it bests fits your goals. You have to take the initiative to do the research and apply her methods
Quote:
On 2004-11-19 23:40, gig26 wrote:
I was also thinking about buying Dwan's program. I was thinking about buyin the "Foreclosures in your backyard." I know someone who purchased it and said it was good.
Quote:
On 2004-11-12 18:37, torres wrote:
That's great! Right now I'm reading Dwan Twyford's $10 into $10K in 30 days. I want to be able to come across my first deal in the next month or two. I live in Westchester County, NY. What should I do first? Has anyone used the forms in the course and have they worked in NY? Any advice? Thanks
Future Investor
Shadow, me too! Good Luck, herbk
superwoman,
Thanks for the info on the REI club meetings. Yes, I attended the Wealth Expo and there was a plethora of info. I can't wait to start! Did you check to see if Dwan's forms would work here also? I will definitely go to these meetings. Thanks again for the info.
Torres
I too made the switch this year to F/T REI. Basically I am fortunate to make this gamble because of the fantastic RE appreciation of our home. This allowed me to set up a HELOC and literally go for it. Confidence is a key and so is work ethic. On my first deal (a below mkt purchase-rehab-retail resell) I made a 82K profit. Of the 82K my family actually netted 35K not including writing off 1.5 months of living expenses, dinners, outtings etc..
Hunger is my key to success. I researched and bought a property 4 hrs from home. Drove there and rehabbed the house for six weeks. I then re-listed w/ a broker and sold the home after listing for about 30 days. Purchased for 293K and sold for 375K.
Since then I have purchased another fixed for 125K w/ an ARV of 200K this house should be ready for sale in a month or so. We have also purchased a triplex to hold onto. REI does work...but you must be driven. Good luck to all newbies!!!
[ Edited by cressey on Date 11/27/2004 ][ Edited by cressey on Date 11/27/2004 ]
hey, any advice for a newcommer like myself working on my First wholesale property?
So what types of classes have you taken, Also what kind of deals have you been doing, you said wholsaling, How are you finding these deals,? Any info you have is helpful.
Congratulations!
Wholesaling is great for cashflow, but as far as advice, be versital and consider a mix of real estate investment strategies to add to your portfolio. Wholesaling is just the tip of the iceberg. Good luck!
hey! u just replied to my ? about a title search & i wanted 2 say thanks. i went 2 your profile & saw that u made 80,000!!! congrads. thanks 4 the motivation
would you mind explaining your deals in the last 3 months that led you to make 80k?
bump
my deals were a variety of homes the bulk of my cash came from wholesaling a package of 16 homes a investor here in akron was getting rid www.of.i put all of the houses under contract and wholesaled them for 32,000 thousand www.dollars.the rest was a mixture of for sale by owners and some reos. 8-)
You need to do your research. Rember real estate is
local in nature find someone( a mentor) who has or
is doing this in your area also this question could have been easily addressed in the Tci mobile home forum check there.