Red Pill from Preston Ely: Success is nothing without happiness
This guy here; Preston Ely, helped in making me realize that I was almost trapped but I'm out of the rat race now. Time to produce. What will you do? Take the red pill
How to Find Cash Buyers Using the World Wide Web
You can't always depend on the old ways of finding cash buyers. Here are some ways that I use to find cash buyers online
Jul 10
28
My Journey in REI: Entry 2
I recently went to a REI meeting and at the end, a veteran in the business, after telling us of his mistakes and achievements, said something that made me understand why I’m not a millionaire yet.
“You have to make a lot of sacrifices to become successful“
The road to success in REI is not an easy trip at all. Many would have given up a long time ago. Especially after their first deal not closing. After my first two didn’t go thru, I didn’t cry and give up. Yea I hated it, but I realized my mistakes and learned how to not make them again. One thing you have to learn is this is a numbers game. The more numbers you do the more money you’ll see.
After not having too much success in my particular area with home owners, I decided to attack short sales and REO’s. Now don’t get me wrong. There are thousands of leads out there waiting for me or you to come scoop them up. Since my first two deals didn’t go through, my funds didn’t allow me to do the other most important part of real estate investing.
Marketing. I couldn’t market for sellers like I wanted to so I had to start doing something that requires less money. Being that I get lists all the time from other investors or realtors showing properties, I decided to go after buyers. Finding cash buyers is extrememly important in REI. Now while trying to sale my first 2 properties, I picked up a lot of different cash buyers with different tastes in real estate. Now just because they say their buyers doesn’t mean their going to buy any house you throw their way. Trust me. I know this. Your going to have picky buyers, buyers that produce and see potential and numbers for what they are and the worst of all; tire kicker buyers.
The picky ones: are the ones who want properties in upper class neighborhoods for 30% of market value. To me, this says they are scared to take chances. Send them your properties anyway. You never know.
The good buyers: the ones who know what they want and if you bring it to them, their ready to sign on the dotted line. These you want to keep happy. There are wholesalers with one good buyer that they provide to. That’s all they really need but you always want more.
Now the worst of all. The tire kickers: They talk like they want the house, make you waste your time showing them something they practically purchased over the phone, then they say their not interested. These I label as a tire kicker immediately and on occasion, delete them from my list. Let the next wholesaler deal with them.
Now I don’t know exactly where my REO’s/short sale venture will take me but that’s the beauty of taking the “Road to Success“. Sometimes you have to take chances. “Fortune favors the bold” as my buddy Chris Bruce would tell me. With a list of over 40 buyers, I’m 99% sure I can sell something though.
In closing, I want to tell you 2 things to keep in mind as a new investor that I happened with me and many other REI’s.
- Your first deal is likely to be the hardest deal you’ll ever do. My first deal didn’t even close and it put me throught so much that I was ready to say forget it but I stayed in contact with the buyer and seller and the seller is ready to purchase something as soon as I get something to his liking. He had the check ready for my first deal by the way…. He’s no tire kicker
- Your first deal is likely to be for the smallest amount ever. Remember that. Not saying it’s going to be that way but when your deal closes for between $0 and $1000, just accept it and move on to the next. Learn a lesson from your mistakes like I did.
Posted in For new investors My Journey in REI New Investor 101 by .
Jul 10
27
Sims 2.0: Too much marketing?
As real estate investors, there are 2 main things that have been drilled in our heads. This is a numbers game and you have to market. Marketing is probably the single most important part of real estate investing. You have to market for sellers, buyers, bird dogs, associates and anything else you can think of because that’s all I have right now. My question is can you do to much marketing?
Posted in Just A Thought Random by .
Jul 10
26
Following Robert Kiyosaki
Following Robert Kiyosaki
Getting into the top of the financial ladder is just inconceivable to most people. While most people feel that working hard will get them to places where they are truly satisfied, all of them will probably think that just it is not enough. Then, we have a significant few who take finances in a different light and continue to work smart. Knowing that money can work for them represents a changing shift and lifestyle that all should consider following.
This is the story or Robert Kiyosaki’s Rich Dad, Poor Dad. Now a financial bestseller and motivational classic, Robert Kiyosaki communicates a crucial point in finding financial success, which is, make money work for you. Robert Kiyosaki’s motivational books sold over 26 million copies with a multitude of his motivational materials still in print. Even today, he is one of the most influential self-help speakers.
Robert Kiyosaki leads a mindset shift, manifested by a trend so successful today. In his discussion of haves and have-nots, Robert Kiyosaki describes two similar “Dads” with the same talent, skills, and education. However, one dad is rich, while the other dad is poor. He stresses that the line between a Rich Dad and a Poor Dad is drawn by critical differences in perspectives.
The poor father “works hard for money.” Meanwhile the rich father “makes money work for him.” This saying almost poses a cliché, yet Robert Kiyosaki helped us grasped this ideas in an organized manner where all success-driven people can identify with. The idea of the Rich Dad revolves around education, empowerment, and the basic knowledge of how money works. Robert Kiyosaki suggests different financial strategies and key information on investments, high finance, and accounting.
However, Robert Kiyosaki also knows that knowledge and a perception shift is not enough. The Rich Dad should apply their new mindset and turn into reality. This involves a lot of courage, self-belief, and following your gut. The combination of a successful mindset and the will to act led to the most critical philosophies of Robert Kiyosaki’s message.
Cashflow 101
Robert Kiyosaki’s success is seen in his financial game named Cashflow 101. Following his critical financial outlook, Robert Kiyosaki allows you to be an active player in the game of financial investing. This educational board game presents everyday situations and allows you to develop the chance to make a high-risk investment in a game. The realistic tone of Cashflow 101 allows the player to observe the dynamics of investing in ways that he might not have seen before. In this way, players are prepared to tackle grounded and gut-wrenching investing game in the real world. As a player, you are able to learn the intricacies of the investment game and observe the different pitfalls and keys to success in investment, accounting, and high finance. Thus, Robert Kiyosaki’s Cashflow 101 teaches us to learn from our mistakes in a risk-free way.
Robert Kiyosaki’s Cashflow 101 represents the basic principles of 21st Century Education. With the power to make investments, players buy into the millionaire’s mindset and look the mind of self-made millionaires. Cashflow 101 is a board game to help mold a new way of looking in the world while sending a message that you can live the life of a Rich Dad and that it is possible to achieve financial freedom.
Cashflow 101 is a soft tool in helping you achieve financial freedom. The value of 21st Century Education believes that developing a mindset takes time. Yet with constant spinning of one’s imagination, and some rounds with this game, creating a successful vision and the having right mindset to achieve your vision is just on everyone’s fingertips.
Posted in Mentors & Gurus by .
“JUDGE SUCCESS IN A PERSON BY THE QUALITY OF THEIR SOULS AND THEIR ACTIONS; NOT BY WHAT THEY HAVE OR HAVE NOT ACHIEVED MATERIALLY” -Dennis Fisher
Jul 10
24
How To Make Money Flipping Houses
How To Make Money Flipping Houses
One of the fastest ways to make money in real estate is through flipping houses, which is also referred to as wholesaling houses.
It is also the real estate investing model that probably requires the least amount of work and cash invested into each deal.
Flipping houses involves locating houses at below market prices, then “flipping” them to other real estate investors at a discount.
Most of these properties come from distressed home owners (motivated sellers), such as home owners facing foreclosure, going through divorce, job loss, job relocation, illness, or simply cannot afford to keep making mortgage payments.
Sometimes they just need to get rid of the house, but cannot afford to do the repairs needed, or simply don’t want to do it. They therefore accept to sell the houses at a discount for a quick and easy closing.
When you flip a house, the profit may not be very big (such as when you sell at retail), but you make your money fast, typically within two weeks.
The process goes something like this:
1) Real estate investor locates discounted property from a motivated seller and puts it under contract
2) He then takes this contract to the title company to get the title work done to ensure the property will be delivered free and clear
3) Another real estate investors (wholesale buyer) acquires the house through one of two methods:
a) He takes over their contract for an assignment fee and closes on the property himself or
b) He buys the property from the investor in a double closing (simultaneous closing). In this case you buy the property and sell it to the wholesale buyer on the same closing table.
The wholesale buyer ends up doing most of the work (such as repair) and makes more money eventually after they fix and sell.
You as the real estate investor flipping the house have to leave more money on the table for the wholesale buyer.
Typically, you must locate properties for sale at 65% of market price minus repairs or less if you are to wholesale a deal successfully. Most wholesale buyers will express less interest when the profits go below this figure.
You must then quickly find wholesale buyers with cash in order to flip your property quickly.
Finding buyers often involves a combination of methods, both online and offline. The more methods you can employ, the more likely you are to find a cash buyer.
Offline methods include advertising the property to local real estate investors in local newspapers. I always make sure to give them my web site, rather than my phone number. Using a well designed landing page (squeeze page), they have to give me their name email and phone number before they can access my deals – building a very powerful buyers list.
The first thing I do is to email my deals to my buyers list, a list of active real estate investors I have accumulated both from local REI meetings and my website.
Each person inevitably ends up on my web site to view the full details of the property such as comps, live video vitual tours and pictures. In the process, they can email this deal to their friends exposing the deal to more potential buyers.
More Make Fast Money Flipping Houses Articles
Posted in REI Tips by .
New Investor 101
Posted in Bandit Signs Find Cash Buyers For new investors New Investor 101 REI Tips by .
Everyone starts somewhere in anything. I got my first apartment when I was like 23 I think. Extrodenary thing is I had my apartment fully furnished on move in day. No sleeping on the floor or couches. Now I’m not just talking to be talking. I have a friend who told me that when him and his, now wife, moved in together, they had nothing but a mattress to sleep on.
Just hearing this and so many other “first apartment” stories made me really thank God for my blessings and also made me really appreciate my Auntee in Tampa who took me in and let me stay with her for quite a few months. During that time, she didn’t charge me but I did my best either buy food or get stuff she needed for the house. While doing that I was saving my money because unlike a lot of people my age at the time, I knew that my time there would run out eventually. When I finally got ready, I had nearly $3,000 saved up.
Now from that small 500 and something square feet apartment i’ve moved to my bachelor pad down the road a bit and I love it here. The moral of the story is we all start somewhere. Me and this guy Preston Ely, didn’t start in real estate exactly the same way but we have similar back grounds. We both hated our jobs and we both knew that there was something better out here in this world for us. Now I don’t actually know him as a person but I hope to meet him one day. It’s good to keep positive successful people in your circle. If your walking down the street and see a successful person better slap some cuffs on them and call dibbs.
If you know me, you may know that over the last few months, I’ve gone though some amazing changes. Spiritually, mentally, physically and financially.
- I lost my job but gained happiness and freedom.
- I lost some weight from not eating like i’m supposed to but I’ve gained so much knowledge.
- I’ve lost some enemies and gained some new friends.
- I’ve inspired people and been inspired by many.
- I’ve turned off the television and picked up a book
- I’ve stopped being a reporter and turned into an expert (Thanks to Yaro Starak)
- I’ve gotten rid of so much anger and hatred and replaced it with happiness and fulfillment
You know I give all credit to God but I believe he is working through Preston Ely and his Red Pill program, to open people’s eyes and realize what their true calling is and how much power have with just your mind and some words. I’m not saying that everyone’s calling is real estate. That’s what mines is. Yours may be to be a nurse or a Dr. It all depends on if at the end of the day, when you get home and kick off those shoes, are you happy because your day is finally over at work or are you happy because you really feel like you accomplished something? I was only happy for one reason and I think you are too.
Are you going to take the Red Pill?
Posted in Just A Thought Mentors & Gurus Preston Ely What Dennis Knows by .
This was a "Gift" they gave us
Many won’t argue the fact that slavery ended well over a century ago but are you aware that slavery has started all over again or did it ever really end? Modern day slavery is every where and its no longer decided by race, age, or religion. Its a battle of the mind and these big corporations are winning.
I was trapped in this “modern day slavery” just a few months ago at a “job” that I absolutely hated but couldn’t leave because I had to pay my bills. At least that’s what I was worried about at the time. There’s a saying kind of like they pay you enough for you to survive and work for them but no where near enough for you to live life and be happy. So many people are aware of this but can’t and won’t do anything about it because of 3 possible fears.
Fear of:
- not being able to pay bills/take care of family
- failure
- uncertainty.
I forgot one. The subconscious fear of being successful. This is the fear of hearing your friends tell you the worst phrase ever; “oh you’ve changed”. People say they don’t care but could you really handle that? Being successful is all about change because if your not successful, then your doing something wrong and it’s time for change.
Ok; Now before I’m accused of calling everybody slaves, I’m referring to the people, like I was, who live check to check, hate their job, are very unhappy etc. Don’t get me wrong. There are janitors who are happy with their job. If their happy, then I’m happy for them for finding their true calling. I talk about real estate a lot because that is mines and many others true path to success, but the true path to the road to success is finding something that makes you happy. One of my buyers on my list told me how she’s flipped houses and passed the real estate exam with flying colors but said real estate was boring to her. She then learned to fly planes and traveled the world. She is rich mentally, spiritually, financially and truly happy.
Now leading up to my being fired, many were worried about me. Those ones that were worried, truly cared for me and I will always be grateful for that. They felt that I would probably be lost without a job. Well little did they know, the night I got fired, I felt like a free man and actually found happiness and a great sense of accomplishment just on my walk to the car. I was smiling from ear to ear all the way home because I knew that this was the beginning of the rest of my life. I had found something that I could make a boat load of cash doing and that could open more doors once I made enough money. That night, I felt like the chains had been taken off and I was no longer enslaved to that over night grueling work I had been trapped in for the last 2 years.
I listen to some people talk and I truly feel sorry for them. I see them in my old shoes but they either don’t have the means or the courage to do what I did and try on a new pair of shoes. I bet you never heard it used like that before…. LOL. Anyways, I don’t even know what to say half the time but that they should try real estate. They usually change the subject and I realize it every time. That just makes me realize that every one wasn’t made to be real estate investors, or Dr’s or lawyers. This would be a messed up world if everyone was millionaires don’t you think? Doesn’t mean you have to work hard and be broke all the time though.
My case and point is slavery still exists. Its just been cleaned up a lot with benefits, a lot more pay, vacation time and 30 cent raises every year. It’s no longer a race issue but rather a issue with the mind where anyone that feels they can’t do better will fall prey to these big corporations who will make them do anything and everything they can for minimum pay which is sooooo much better than minimum wage right? No. Don’t let anyone but yourself tell you how valuable your time is. As soon as you get to the point where you can set the value, it’s time to make that change. To get to that point, I encourage you to read books. Gain knowledge and wisdom. Stop watching BET and read books like “Letters to a Young Brother: MANifest you destiny” by Hill Harper if you want to hear a brother keep it real from a man’s point of view. Stop watching CNN and read “Rich Dad Poor Dad” by Robert Kiyosaki if you really want to educate yourself on money. CNN and NBC might as well be called CRAP because that’s what most of the stuff they report on is. If you don’t believe me, do research. That’s another story.
My last time clocking in.....
Do different exercises to strengthen your mind. Tell yourself every morning that you can do better than what you did the day before. Success
and happiness is in each in every one of us. Sometimes it takes bills getting behind to awaken the sleeping giant inside you. In my case, a boss treating me and my co-workers like CNN (CRAP) made me realize that I needed to do better and I did. I remember he use to try to make me say “I’m here to serve” to customers instead of thank you. Its that type of slave mentality that will have him in chains for life. In a recent internet brawl I guess you could call it, he told me basically that my stupidity over shadowed my potential and that that’s the reason I’m at where I’m at now. Question for you.
- Mentally, spiritually and very soon to be financially, how many people do you think want to be where I’m at?
Posted in Just A Thought What Dennis Knows You Need to Know This by .
I finished up my new eBook yesterday (7/21/10) and I’m so exited because this is my first eBook. Isn’t that freaking cool? I started writing it on my Blackberry and just went from there. From 3 pages to 9 pages to a whopping but still easy to read, 29 pages of amazing content and info. I wrote this eBook because so many people fall short of their calling because their going the wrong way on the “Road to Success”. I to like so many once had my coordinates set wrong. I was scratching lottery tickets, working overtime and just basically working my but off trying to stay in the race. Well eventually I found out that I was running a race on what seemed to be a treadmill because I wasn’t going anywhere at all. My bosses hated me, my life sucked and I needed an exit route
On to the Road to Success
You know why my bosses hated me so much? Because they saw so much potential in me and hated that they couldn’t control it. We dislike what we can’t control. Remember that. Instead of waste my potential away at a job where I was guaranteed exactly $158,784.82 if I continued to slave away until the ripe old age of 62, I decided to invest my potential in real estate. Why real estate you ask? If your asking that, then you seriously need to read my new eBook which I have available for FREE for a limited time to subscribers of DennisKnows.com
I guess we can add author to the list now
Posted in For new investors What Dennis Knows by .
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