txrigdiver
04-03-2005, 05:53 PM
My intention is to use this message board to its full potential.
Hi, my name is Don, I'm a lazy investor.
My first intro into real estate investing was through a club that provided all the money I needed to invest in tax deeds. I got good at it, I was at the peak of my game when I peered into my crystal ball, didn't like what I saw and decided to cut and run. Alot of that "free" money followed me because of the reputation I established and I had to figure out a way to use it and profit from it or lose it. I contacted some wholesalers because I bought so many properties so fast with OPM that now I'm a full time accidental GC and don't have a lot of time to go looking for more new deals. These wholesalers brought a bunch of properties and I have so many investors wanting me to spend their money I was buying houses and telling my clients that it's going to be 2 -3 months before I can even start working on this property and they just kept on taking the deals. Last year around Nov. I was on disability from Shell in a cast from my shoulder to my palm and I finally told the wholesalers that it was going to be several months before I purchased any more properties. They went away and haven't come back. I was working my business full time since I didn't have a 7:00 to 5:00 anymore, and when they offered me and 74 others a sepeartion package in Dec. I jumped on it. Monday, tomorrow, I start another rehab, this will increase the number of active rehabs I have going to 5. This property is the last one I have to work on. I have no more reserves and I have few wholesalers bringing me deals that are worth mine and my investors time (ROI of less then 20-25%). I only make a minor percentage of the profit on these deals, and very little on the rehabbs. Having a hard money lender and doing these same deals my self would increase my profit by about 20, 25%. Right now all I do is fill out a proposal sheet and broadcast it to my investors and usually within 4 to 6 hours I have a commitment to wire funds to do the deals I send out. I don't have to jump through any hard money lenders hoops.
The thing is, other then tax sales which I don't want to do The only other way I've got property is through wholesalers. Yes, I'm a lazy investor, up to this point anyway.
I would like to continue doing rehabs for my investors because of the friendships I've developed and because I do enjoy them. But I need to diversify my skills and I'm not having a lot of success recently. There are so many self proclaimed gurus screaming "this is the best way to invest" everyone has a different way to do it and you have to buy their course to figure it out. Been there done that and what I've learned is that if you don't have one on one coaching/mentoring by someone who has actually done what you are trying to do then man, you have a tough row to hoe, and good luck!, I'm in a mentoring class right now that I paid $4000.00 for 2 weeks ago and guess what my recommendation right now is don't get involved with Robert Allen, I hope down the road that changes. I've spent enough money on real estate courses that I could have gone to college and got a bachelors degree (but you don't get rich by degrees do you)
I want to know how you are investing, short sales, preforeclosures, creative financing. how many deals have you done and are you willing to mentor and coach someone who is very motivated to learn. Are you willing to split the profits I earn for your time?
Hi, my name is Don, I'm a lazy investor.
My first intro into real estate investing was through a club that provided all the money I needed to invest in tax deeds. I got good at it, I was at the peak of my game when I peered into my crystal ball, didn't like what I saw and decided to cut and run. Alot of that "free" money followed me because of the reputation I established and I had to figure out a way to use it and profit from it or lose it. I contacted some wholesalers because I bought so many properties so fast with OPM that now I'm a full time accidental GC and don't have a lot of time to go looking for more new deals. These wholesalers brought a bunch of properties and I have so many investors wanting me to spend their money I was buying houses and telling my clients that it's going to be 2 -3 months before I can even start working on this property and they just kept on taking the deals. Last year around Nov. I was on disability from Shell in a cast from my shoulder to my palm and I finally told the wholesalers that it was going to be several months before I purchased any more properties. They went away and haven't come back. I was working my business full time since I didn't have a 7:00 to 5:00 anymore, and when they offered me and 74 others a sepeartion package in Dec. I jumped on it. Monday, tomorrow, I start another rehab, this will increase the number of active rehabs I have going to 5. This property is the last one I have to work on. I have no more reserves and I have few wholesalers bringing me deals that are worth mine and my investors time (ROI of less then 20-25%). I only make a minor percentage of the profit on these deals, and very little on the rehabbs. Having a hard money lender and doing these same deals my self would increase my profit by about 20, 25%. Right now all I do is fill out a proposal sheet and broadcast it to my investors and usually within 4 to 6 hours I have a commitment to wire funds to do the deals I send out. I don't have to jump through any hard money lenders hoops.
The thing is, other then tax sales which I don't want to do The only other way I've got property is through wholesalers. Yes, I'm a lazy investor, up to this point anyway.
I would like to continue doing rehabs for my investors because of the friendships I've developed and because I do enjoy them. But I need to diversify my skills and I'm not having a lot of success recently. There are so many self proclaimed gurus screaming "this is the best way to invest" everyone has a different way to do it and you have to buy their course to figure it out. Been there done that and what I've learned is that if you don't have one on one coaching/mentoring by someone who has actually done what you are trying to do then man, you have a tough row to hoe, and good luck!, I'm in a mentoring class right now that I paid $4000.00 for 2 weeks ago and guess what my recommendation right now is don't get involved with Robert Allen, I hope down the road that changes. I've spent enough money on real estate courses that I could have gone to college and got a bachelors degree (but you don't get rich by degrees do you)
I want to know how you are investing, short sales, preforeclosures, creative financing. how many deals have you done and are you willing to mentor and coach someone who is very motivated to learn. Are you willing to split the profits I earn for your time?