As I drove a new community to get a pulse of the community and look at other rental properties, I noticed some of the signs were falling over, faded, hidden behind a bush or tree, in a window 30 yards away from the street or had numbers so small you could not even read them.
I got Deans first book back in December 2008 read and said to myself does this stuff really happen. I got his second book in february just before I got laid off from the bank where i worked. I said I am going to try these techniques and see if this thing really works. I called one of my college buddies who knows a little bit more than me about real estate to be my partner he agreed and we started putting in offers for Reo's right away.
Hey everyone, just getting back to the pc from our REI meeting today. For those that don't know we are the tri state inverstors group, and our group name is ANSUN Aint No Stoppin Us Now! Today members of our group met up at a mall in Brooklyn, there were 9 of us, some from Westchester, Queens, Manhattan, Brooklyn, CT, some traveling 3 hours just to meet! It is amazing how we were all strangers that met on the internet, right here on Dean's site and we all are coming together as one! I am sooooooo happy we got to meet up today, there were some great idea's put on the table.
A friend of mine that recently started in real estate has found some good buy and hold real estate deals. He inquired to me that he has difficulty in convincing family, friends and professional busienss people he knows about investing in his real estate. He stated he gets frustrated because some people have offered to finance the deal but want him to do all the work and they want at least a 50% equity interest in the property. Other potential financers that have their money in a savings account earning 1% interest view his deals as too risky.
Deal #2 REO Duplex for $22,500 in April 2009.....How We Contacted the Bank and Beat the Auction Sale!May 29th, 2009 | posted by Joe Jurek
In March 2009, I had my eye on an all Brick Duplex with a 2 car garage in my local area that was on the market for several months. Each month they lowered the price. Six months prior it was listed at $89,900 and then in March 2009 it dropped to $49,900.
I believed there was opportunity in the real estate market, but I was not sure what the best next steps would be. Then late at night I was watching TV and saw Dean’s program. I agreed with everything Dean was saying and the strategy discussed through-out the program. Matt Larson made an impression on me as well and I began to look for a good deal. I was motivated and I agreed with the theory of offering 50% or less for a property because there were so many new properties coming and staying on the market.