jtlab

I got news for ya, Right and the Left and the whole political establishment is full of crap in my opinion. Only one motivating factor and thats money. Ethics has long been gone.

Filthyphil.. Its all the the difference in how we make our food. I had people tell me they have never seen a obese person until they came to this country. Teasing her I said "maybe because people are starving in yours". Truth is though, its all the chemicals that we put in our food. Sux:\ BTW I do have to visit Europe, heard chicks love us NY guys over there and that everyone else just hates Americans. Ill just hide behind my army of hot chicks. Jacin T

THe more laws we create the less freedom we have.

Merry Christmas MC, and btw MC your more then welcome to send me cash. I am humble enough to receive it and realize that it is the thought that counts. So just remember to think BIG!

MC, for the record, that is exactly how I answered the question. I told him we been in business for about 4 months under the guidance of our associates (enter MC;p) who has been specializing in rent to owns for over 15 years. Hows that?

I am also a category A and my goal is 100k for my first year. I signed up my friend a 3 weeks ago, and now hes doing a straight tenant rental because frankly, that 2500 mortgage is killing him. His mortgage is way above the rental market rate for that area. So I tried to help but in the end , since I am looking out for his interest, I was more then happy to have him get a few tenants into the property( His original plan). Besides, it was a handyman. On the plus side I build a nice database of t/bs who are willing to pay a good option consideration and will rent a descent looking house in the 2800 range. Moving on, a prospective homeowner finally got back to me about cancelling his RE contract and told me that they require a full commission pay off. Is that extreme or what? So I decided, using MC's advice, to put him on the back burner and move on. The homeowner is currently sending me a copy of the contract via snail mail. I have 2 houses on the back burner as well, who if the buyers fall through, they will sign up with me. Does anyone know how long it typically takes for a buyer to find out their not qualified for financing. Another words how long is a property tied up typically before a buyer falls though?(If he falls through) For now I seem to be generating a lot of calls through my signs, and I only had 11 of them up, then down to 7 and I got 3 calls in one day from just those 7. Now it seems they took most of my signs down. I have to get all my signs back up and put up some more as they seem to be working quite well. That's it for now.. until the last day of January. Jacin L

Jacin, You need to be educated when you talk to sellers, but you also need to be sincere. I didn't advertise that I was new, but I didn't lie about it either. You need to remember this business is about leverage. If you can offer a good and valuable solution you will have your leverage. I have written about my first Cooperative Assignment and how I didn't know what I was doing. The seller knew it and the buyer knew it. But you know what? I still managed to get $3K for doing the deal. How you ask? Because I knew enough to get a contract signed. The seller knew they had nothing to lose and the buyer knew they had a good deal. So now if someone asks you how long have you been in the business I would ask them why they're asking. This will help you understand what you're doing (or not doing) to create such an inquiry. But again there's nothing wrong with them asking. Some sellers will ask just to ask. This will help you to learn your pitch and what to say. And to answer such a question simply point to the leverage that you have created. If they don't like what you're doing, then time to move on. But if they believe you can do what you say you can do, then you'll probably get the deal. Hope that helps, Adam Thanks adam and darwin for replying. In this instance I think it was the seller asking the question just to ask. He was happy with everything I pitched to him over the phone, in fact he even told me he wish he saw my signs before he signed up with a Realtor. He went to talk to his lawyer about breaking the contracts with his Realtor so he can sign with me. I emailed him his market analysis and the lease purchase advantage flyer and he responded w/ the typical questions. I tried to get in touch with him on the phone to answer those questions but 2 days passed and he did not return the phone call. So I emailed him the answers and he responded that he liked what he heard and is still waiting for his lawyer to get back to him. He also said he wanted to ask his lawyer for his opinion on RTO(deal killer?). Then finally he asked about my experience. I think he was asking it because of how new RTO was to him. He was still skeptical . In NY people are not as trusting. In fact nobody trust anyone. It is a different atmosphere over here.

I have only been doing this for 1 month but I have never been asked that... You must come off them like you don't know what you are doing. No Pun intended. - Darvinm Darvin, there were times when I did come off exactly like that. Specifically on my second day of cold calling, one lady indeed asked me how long I been in business. Today, however , I feel more confident then ever in my abilities, so I do not feel that is the problem. I have experience with both t/b and homeowners, so I know it can be done. And that is exactly how I pitch it to them over the phone, with 0 hesitation. In this one instance, I already provided the homeowner via email(I tried phone but hes never around to answer) his market analysis. He loved the way it sounded but naturally had questions. One of those questions was "how long I been in business?" I think it is a legit question, and I would not be surprised if it is a common question. But my question is, in the event it comes up again, what is the best way to answer it if you only have a couple of months under your belt.

Because I only have a few months expierience in this business, how do you answer people who ask about the length of time you been in business. Any suggestions would be appreciated. Jacin L.

If I understand you correctly, your asking how to hide the purchase of a house from the divorce record? Is this a current t/b comming up to the end of their lease? If so the only solution I could think of is extending the lease/option with no additional rent credit or very little rent credit. I don't know if that is possible, experts?;p

Shouldn't be a big deal. Just be careful. Sometimes getting yourself out of debt will put you into debt if you're not careful. BUT IS SURE IS FUN DOING IT!!! WOOOHOOOO!!! Stick it out, you'll get there. Adam Adam, I propose that we start a new thread, in which we have to post our progress every month to see how everyone is doing in regards to their goal. Community pressure can be a beautiful thing when it comes to making progress. Weather you make progress or not, everyone has a responsibility to report on what they did or did not do towards their financial goal, and this must be done on a certain day every month. Everyone can learn a tremendous amount of info from others and learn a lot about themselves by doing this I think. So who is ready to put their option money where their mouth is? Or is everyone scared? Jacin L.

Why don't you try calling FSBOS, FRBOS, as well as advertising? whats FSBOS & FRBOS mean? sorry i'm a noob For sale by owners and For rent by owners.

Double Closing sounds Ideal for protecting your option imho. Let me know what the lawyer comes up with.

Doug I just had a similar experience. A just finished giving someone the terms of the agreement over the phone. He was like I wish I saw your signs before I signed up with this Realtor! He is breaking his contract today or tomorrow with the Realtor to sign with me on Wednesday. Ya MC were back in business;p

My goal is to get a 6 figure income by the end of 2006. Im ready! Lets do this adam! Btw adam if you do get 7 figures, your always welcome to donate to Jtl's flatscreen television in every room fund. Just a thought. Jacin L.

Nice! I would of said no I am available only tommorrow night unfortunately. The less time the better.;p

Bill, is probably the same one I'm talking about too. It looks brand new and I'v even noticed that every State has plenty of TB's prospects to choose from, you can also search by State, City and option money amount... how sweet is dat? And I'm almost sure I saw this site here on this forum few days ago but I couldn't find it, but then again I could be wrong too which only happens once in a lifetime Jacin (hope I'm right about your name ) $65.00? Heck the lowest I've ever seen investors pay their referrers per completed lead is $500!! I don't know about the rest of ya, but I wouldn't hesitate to pay $65.00 for a $12,000 cashiers check made out to me Ya, but if you l/o a handyman for example, you can blow alot on those 65.00 leads from prospects that do not care to rent to own a handyman. Besides I found a pay as you go site that does it at $15 a lead. Don't know how it competes to yours though. Can you msg me the link?

Wow! That's no good! The one I'm talking about there's NO monthly fees at all, you get to see the TB's request first before you even put a penny down... you only pay for the lead you choose to pick... example: Nmae: Mr & Mrs. Prebuyers Aread Interested in: bla bla, NY Home Style: 2 BD - 1 bath Option Money In hand? $12,000 Monthly Rent: $2,100 Move In Date: Immediately Dated Posted: 12/1/2005 Cost to buy this Lead: $65.00 er something like that (the page explains what happens if this lead doesn't fly) That's how the database looks like something similar to the above, then if you like that TB, you just pay the price to purchase it and you'll have their information to contact them (phone or email) Kinda like that's how it is Now that sounds sweet. But if your going to pay that much for a lead, you better be selling a new house or a house in excellent condition. That is just my opinion.

Great post adam and bev, Starting a business wheather real estate or otherwise is similar to that of starting a new job. In any new job a person starts, he or she will always have someone training him or her. Having a mentor serves a similar purpose. As adam said, with a mentor, you can rest assure that a persons learning curve will shrink because their mentor has already made all the mistakes for them. Ofcourse, some mistakes you have to make on your own, but atleast the major ones are accounted for. (btw, thx MC for making all the mistakes and screw ups for me ) Ofcourse in the end, it boils down to the person, and taking action. Once a person is equipped w/ the knowledge, taking action is the only way to get things to work. Remember, it is nice to have goals, but it is better to think in terms of progress. People quit or change their goals all the time. But if in a persons mind they are making progress, you can gaurentee that they are moving closer and closer to their goals and are happy as a result of the progress that they are making. When their is no progress, their is no happiness. Jacin L.

Bev the anxiety is killing me. I signed up w/ one and I am very disappointed. They gave me like 6 possible buyers who can not afford rent or option money. Their charging 87 bux a month and I have not got a new lead since. I have to send in my cancellation letter via snail mail(fine print). So once they get my letter then my account will be canceled. So if you and I are talking about the same people, I most definitely do not recommend them.

Judges?

I will makes note of that.

Nothing to lose except the bribe if it doesnt work out. Btw, is it possible to expierience all those emotions at the same time?

Craig, My guess is that he is willing to assure you that the financials and any other info. about 1806 INN that you would send to him, would be kept confidential. Once he signs a NDA with you, I think he is legally bound to keeping that information confidential. If you dont care that he passes(or shares) the info. around, then I think you wouldnt care about him signing an NDA. - Ardy Thank you What ardy says is true, from what I have read about commerical real estate, it is pretty much standard practice to offer yourself to sign a confidentiality agreement. He will use the numbers to make an offer and then his send his LOI. If you get into alot of commerical deals I recommend ABC's of Real Estate investment by Ken McElroy, it covers all the basics about making and accepting offers on commercial Real Estate. Jacin L.

Thats a wise move. To learn anything all it takes is action, weather you bird dog or just do it yourself. I Hi Ardy, REIResources.com The above is the link to the site for that Bird-Dogging E-Book. It only costs $10.00, but it is well worth it. It gives you info on how to start your bird-dogging services, provides web site references on where to buy cheap bandit signs, tells you how to find motivated sellers, and how to get motivated sellers to call you, provides you with marketing materials, gives you info on how to work with other investors, including the investor contracts, shows you a sample web-site of a bird-dogger, and directs you to other bird-dog forums. Anyway, EVERYTHING you need to know and more is in there, if you're still interested! Good luck! WCG (Jean) Jean, Thanks for the posting. I might just jump in myself instead of bird-dogging. I have MC's manual and I think it(material) should suffice. I'll just need to get there and start taking action. Ofcourse, if I get to work with a real solid investor with his/her weight in gold, then for some time, I dont mind bird-dogging for this person for all the experience that I could get. It all depends. Anyways, thanks for the info. - Ardy Congratulations on your decision to do it yourself. You will learn more this way than any other way (imho). You will find that you will network and deal with all types of people, and what better way to learn than to work with them and not under them. I have just started myself and I learned a ton. Remember, all it takes is continuous action to pursue anything. Getting over the first hurdle might be the hardest part of the job. But don't worry their are always plenty of other hurdles to get over, but that is called progress. Good Luck and enjoy the ride, were all riding w/ you. Jacin T.