I WON THE DG SEND ME AWAY 2011 CONTEST! THANK YOU EVERYONE WHO VOTED! (Official thank you here: (http://www.deangraziosi.com/real-estate-forums/everything-else/108279/wh...)
I have been a stay at home mom now for 13 years. I also homeschool my 4 children, ages 13,11, 5 & 3.(updt ages). I actually put the older kids and my K in a very small school that is as close to homeschooling as one can get. I also do a few mommy and me classes with my 3 year old every week. But, for the first 2 years I was homeschooling with all the kids.
I started in RE involuntarily in 1997 when we upgraded our small 1st house to a larger home. The value of our little house had plummeted in value, and I refused to take a loss, so I rented it out. It was the best thing I ever did. That endeavor is how I started in RE. Over the years I have acquired 3 more rentals and sold one home FSBO.
I did it all the wrong way though, because here I am with these homes, flip flopped on 1 of them, break even with what I owe on one and one I bought well enough below market to still have equity. But my strategy was to refi and take money out of the equity of the homes to reinvest while they were at their prime, so that error has put me in this predicament. I am also in 3 scary interest only loans, and I need to do something so when they come fully amortized, we have enough money. Really, I want to earn enough to pay them all off by 2014. Right now, I am taking small losses on 2 of my rentals (upd 11/11-now only ONE house has a loss, all others are profitable! ), and have negative cash flow and desperately need to do something. But rather than sell them short, I believe I can turn them around with Dean's program.
The reality of the economy struck as we acquired our vacation home. I can not get another loan or refi out of my existing loans (even to lower my interest rates. ) due to having too many RE loans; my ratios are too high for banks to lend to me because they remove a tremendous chunk of our income despite good credit. Once again, my stubborn, refuse to give up attitude will not allow me to believe that I can no longer invest in real estate or that I am basically out of the acquisition phase of real estate. There HAS to be another way!
In comes Dean's program... I saw the infomercial, and here I am today. I joined the success academy and invested in myself for a change (update: I received my full, 100% refund from the success academy after doing my 5 deals within a year. )), and have decided to hone in on private money, owner financing, subject tos, sandwich leases and utilize as many of the techniques I can. . My goal is to partner with other DGs across the country to get deals in all 50 states eventually! This is what I've been waiting for! Watch me, because once I get going on the deals part, I'm going to soar, thanks to Dean, the success academy, and the great DG family here and private money.
***NEW*** I've completed 9 deals since joining the academy and have 2 in the works (August 2011). Most I ever did in a year prior to this was 4 in one year, and one was our primary residence! I like to do creative, way out of the norm, think outside the box deals. **March 2012** 15 deals!
Please follow me on my rollercoaster ride of a journey here in my journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/43252/...?
"Reality is nothing more than what YOUR perception is." Dean Graziosi