Hello everyone,

My name is Andrew, 21 years and i just like to thank you for any posting you put in this forum to help me out on my first deal. Let me just say that Dean is a real inspiration to me even in times like these. My objective here is to make money in Real Estate without any of my own money to become financial free before i hit the age of 25and to help my mother financially who works 90 Hrs plus a week just keep up with her bills. I mean i hate to see my mom suffer like this and not enjoy life and seeing myself on the sidelines without a job helping her out brings me to tears at times.
The first time i saw Deans infomercial was about June 2008 and i bout his book, "Be a Real Estate Millionaire," but i did not take the valuable time i had to read it because of what i was told from the people around me including my friends, family, and coworkers. So i came across his new infomercial 1 month ago about getting both his books BARM, and "Profit from Real Estate Now". So i gave my other BARM book to my brother to read as well. I am half way finish with Profit from RE Now, but i couldn't help taking action now even if i didn't have any money, credit, or even a job to support what i am doing which is what I am about to tell you. I made a deal with my brother to do most of the work on any real estate we are likely to get since he is providing all the money and the excellent credit he has. And i know there are other ways to make money in RE without money like helping the seller find a buyer but i want to first get 1 or 2 places with my brother to get investment properties to get cash flow coming through every month and to make it a job since i just lost mine as a waiter in NYC. I happen to come across an ad in newspaper about a house,3,700sq ft, upstate of NY which is about 1 - 2 hrs away by car that is a legal 3 Family house in which 2 of them are rented out now as well.
It is in a great neighborhood, about 1hr 1/2 to get to NYC if they work there, prices are low to rent, etc. so they are:

3 br , 2 baths -> rented out
2 br, 2 baths -> rented out
1 br, 1 bath and room for storage -> not rented out.

So thats all i know im still new to this RE investing. The lady who owns the place placed new windows, fixed the roofing, and the rest i will see with my own eyes this coming Saturday July 25th 2009. So she is selling it for $260,000 and wants to sell it because she said she, 65 years of age, wants to retire and stop going back and forth to the house, and just get the money she needs from the house.and she is willing to negotiate the price as well. The problem is (1) i am scared to ask very low like $180,000 to get started and stop wasting time. So i don't know how negotiate to get to that price. What should i do because I'm ready to change now! And (2)how should i pay it off or rather my brother pay it off . Can we get 100% finance from bank loans and use the rent money that comes from tenants pay the mortgage or is there another if this doesn't work. I know i sound ignorant to many people here on this forum but i am willing and ready to learn fast and act now. WHat is the best way to get this done now so i can profit from it. Please give me answers in detail i will read it all i promise Smiling. Thank You everyone so much for all your answers and help, God Bless!

Andrew Smetak


First Deal.

When it comes to buying an investment property if you are using convestional financing, you will be looking at putting 20% down and getting qualified for the rest. I would suggest going to a bank or mortgage broker to see what you can qualify for. If it is not possible to qualify for conventional financing, you can look into doing something with the seller carrying the note, with seller financing. You will need to see if she is going to be open to something like that.


If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125

thank you but...

Can You explain to me what carrying the note is a little bit to me, so i can understand how i can work that out?


That would mean that the seller would hold the mortgage for you under her name for a certain amount of time if you could not qualify. You would be making mortgage payments to her until you could get conventional financing.

What part of NY is this house?

You must find out the comps in the area. Also, see what the monthly mortgage payment would be, now after the mortgage payments are made, would there be any money left over for positive cash flow? And would you be covered to still make the mortgage payment if a tenant moved out? What are the 2 units rented for now?



This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams

Bruce Springsteen


not 100 percent sure but i think one is rented out for 1300 and the 2 BR one is 1150 and the 3rd isn't rented out yet but could go for 900 a month. What are you referring to when you say comps? I'm sorry, but I'm still confused in this topic and can you give me an example of what i would need to do to get this deal done? Maybe its to early for me to invest since i don't have all the knowledge down?

oh and one more thing

It is in Port Jervis Upstate New York


ANDREW so glad to see you getting started so early in your life. You have your whole life ahead of you so much time. that is great. i wish i had been able to start when i was 20ish. much success to you and do not ever give up. do not ever give up. do you hear me.

comps = comparable properties. in other words what properties like the one you want to buy are selling for in like the last 6 months. same square footage same number of bedrooms same everything as close as you can get it. when you find out what they are selling for then you can know if the seller is asking to much or way under fmv. in other words you will know if its a deal or not.

fmv = fair market value - arv after repair value mf = multi family - rea = real estate agent - reia = real estate investors association

you need to join a reia if there is one in your area !!!!!!!!!!!!!!

Andrew you can do this. just know that so many people before you have done it, and you can to. you even have someone willing to loan you money and credit. i don't have those things.

also learn about and start to build a buyers list you are goin to need it. a buyers list is a list of investors you can call that want to buy your properties you may have for sale in the future. just put buyers list in the search bar and hit enter.

and last but not least never hesitate one second to ask a ? we are here to help each other.

good luck and move forward.

your real estate friend

Andrew87! You can do it buddy!! GO! GO! GO!!!!!!!!!!!!!!

You thinking like an invester already & the fact that you have a brother that has good credit & some money is awesome because TWO people can really make things happen FAST when you work to together..TWO minds are alot better than one cause you can pool your ideas together & figure anything out! I'm trying to become a invetester myself & have NO one to talk to & heck everyone would just put me down if they knew I "trying" to get into real estate as hard as I am.Don't discount other possiable areas that might have lower cost property's that could also be good rental's!Remember you don't plan to live in it but everyone needs a place to live.As long as it's not "in the GETTO" I would consider it & look at the NUMBERS!Let LOGIC guide you..NOT emotions!!

Thank you everyone for all your support

I am actually half way through Dean's "Profit From RE Right Now," book. Although i am still nervous,scared, and excited at the same time because i feel like i have no idea what i am getting into but at the same time i know i have to do this to start this off and keep on going so i can make this a full time career and follow my dreams. So thank you very much everyone!!!


I just looked to see where port Jervis is. heck your right in the middle of all the major cities. you've got Reia's all around you. go join one. go to to see what cities have them. look on the left side under resources and click on clubs also look in PA, and NJ. good luck. you and your brother should join. that way he can get answers to his questions as well.

good luck and move forward

In Addition

In addition to the comps, try to find out the amount owing on the loan. Since the owner is motivated to sell, maybe she may be flexible on the sale price. Good Luck Andrew and brother. We wish you all the best and remember no question is a silly one. You may be asking a question that another individual may also need the answer to.



"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.


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