September
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Hey Josh,
Awesome video set. Thanks to you and your team for the quality information over the past few years.
Now… my dream come true would be to have that scalable investing business. I am a realeflow… I mean Openroad user but do not have the business to use this program to its potential. I am a two year new short sale investor only and have only closed 4 deals A-B, B-C over the past 2 years along with some other short sale closings that have been closed for mere negotiation fees or commission splits (and even a couple for free, not good business I know but it helped people nontheless). I do still currently work in my flooring business to keep the bills paid but have been looking locally for a mentor type person to help with my real estate knowledge, or lack thereof. I would love to learn other aspects of real estate and other ways of putting deals together. This is my passion. I love numbers and the game of putting deals together and making numbers work. I’ve never been to Ohio but hear its cold… I mean, nice. Our Myrtle Beach market is primed with deals and I’m ready to jump in with both feet.
Looking forward to meeting you!
Chris
January 4, 2011 at 8:54 pm -
My Dream Come True……
To get back on my feet financially,to regain my confidence and to pay back friends and family who have helped me financially these past few years.
I unfortunately jumped into real estate investing at just the wrong time back in 2005 and risked everything. Since then, I have had to file bankruptcy, I have lost a fitness business, lost 2 condo’s, lost 2 land parcels, lost ALL my retirement savings (about 150k) and lost my sense of self worth. And now I find myself 4 months behind on my mortgage and trying to work with the lender.
My passion is real estate. I am a licensed broker but I don’t do many traditional listings. I actually have worked as a general contractor(female in a mans world)
building new lake homes on spec and also worked with short sales for 4 years.Lately,I have spent the past year building a cash buyers list and working with wholesale deals.What I need help with is increasing my buyers list and finding my own deals verses getting them from other wholesalers as I mostly have been doing and playing the whole daisy chain thing.
I like the idea of using your options and for some reason seem to be a bit intimidated by them.My goal is quick cash deals so I can FINALLY get ahead and pay back those that have believed in and helped me. I also want to get to the point where I have the opportunity to help others as you are doing Josh.
Thank you for listening! Sorry if I sound like I am on a pitty pot. It’s just been a hard several years, but I am NOT giving up! I could really use a mentor though.
December 21, 2010 at 11:01 pm -
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Hi Mr. Cantwell, thanks so much for these instructional videos that undoubtedly are helping many people realize the potential that real estate investing has or can have in their lives. This contest you are holding is GREAT. May the best man or woman WIN!
December 11, 2010 at 7:49 pm
As for my dream, well it’s quite simple really. Many “gurus” and authors tell you what to do in their teachings and how real estate investing has changed their lives and all about their coaching programs, but I have yet to find someone who honest, wholesome and tells you exactly, step-by-step, what to do, HOW to do it, WHEN to do it, provide the proper contracts that need to be signed and recorded. Where THEY go to look for leads online and offline, where THEY go to buy affordable signage, vanity numbers, and so forth. I’d like for a coach or guru to actually SHOW me exactly what/where/when and HOW exactly to invest in real estate. How to find and close on a no-money-down deal as if they were teaching their own son, daughter, nephew, etc. and to teach me with that same care, patience, and kindness. And last but definately not least, my DREAM would be for someone to not charge me an arm and a leg for this knowledge. It feels like the majority of savvy coaches/gurus want your first born and a blood contract to be accepted into their programs. As a newbie, how can I afford these costs and then afford marketing a deal, putting down earnest money, and such while keeping food on the table for my wife and little girls? In short, I wish for a coach/mentor who would be willing to stand next to me and show me how to wholesale, do subject-to’s,lease options and also what/how/when/where to find and close on a deal and create long-term wealth at a low tuition price that the average american can comfortably afford. That is my simple wish. Thanks for your time!
Happy Investing!! -
Hello Josh:
I have been involved with real estate now for over 20 yrs now and had to learn mostly by School of Hard Knox method. Having you as my mentor would be my dream come true. My old school methods is just not working for me anymore with this new era we’re experiencing. Learning short sale concepts such as the option assignments and other strategies highly interests me to succeed in this real estate business. Anyone can be trained but to be coached by a “The Master” is also an ultimate desire i wish to have.Your Apprenticeship Program which includes the “ins” and “outs” for meeting real estate acquisitions and selling for a profit is great knowledge to posses. I may not have all the knows as you may have, but i do have the burning desire to follow your program and hope to teach others as you also are doing. I truly hope to be chosen to have the opportunity to meet with you one on one and learn all i can to be at least 1/2 as successful as you are today.
It’s my real pleasure to share with you of my passion to achieve in this business and always to know that you can depend on me to back you up whenever you may need my assistance as well. May you and your family enjoy the holidays and i hope we can meet soon, thank you.
Sincerely,
December 10, 2010 at 2:29 am
A Martinez
S California -
Josh,
interesting comments by everyone. I enjoyed your SS Option training. A “Dream Come True” for me would be to work side by side with a seasoned successful investor to learn how they do deals from start to finish. It is said that a person will become most like those they associate with. My goal is to become successful at RE investing; have done a couple of deals and learned a lot. I’d be thrilled to invest my time to learn from the experts. Once I’ve learned to fish I can feed myself and then teach others to do the same.
December 7, 2010 at 4:33 am -
Josh, I just watched your video on SS option assignments. Great Stuff where is the second video on finding leads? I am in Orlando FL and want to submit deals to you. I am a Lic. Real Estate Agent as well. My main focus is Wholesale Deals, however when I get SS leads I want to have a person to feed them too. If I have to put the deal under contract and get the leads to you that would be fine by me. I would love to work something out with SS leads Thanks. Also I have added you on FB
December 6, 2010 at 6:22 pm -
I have a luxury short sale lead and a personal investment home short sale home. How can you help?
December 5, 2010 at 4:09 am -
My dream Real Estate deal has been to do a commercial flip,for a commercial property worth $5million Dollars or more. I have heard that this tipe of deal is being done in this current market.
December 4, 2010 at 10:18 pm
My secound Dream deal would be to do an assignment deal for a Luxury home worth $500 thousand or more .I hear that these type assignment deals are also available in this market. -
My dream would be to get back into real estate so I can continue my dream of funding my commitment to transforming neighborhoods in poor areas of my city into vibrant areas where people want to live and raise their children in an environment that is conducive to them reaching their potential and becoming productive citizens in this county. (Very long sentence!!!)
Since I have family commitments I would like something that I can learn quickly, improve my cash flow and eliminate the problem of funding the deals. I would also enjoy working with someone such as yourself, who has integrity and is sincerely interested in the success of their students.
Thank you for considering me as a contest winner –I love the Cavs even though they were totally intimidated in the game against the Heat. It’s all about mindset and it really showed in the game last night.
Sincerely
December 4, 2010 at 3:36 am
Jean, aka The Italian Princess!!! -
I just view the first video for equity option assignments. I sounds very interesting, like a jr way to get into the business and then when a couple deals close and have some knowledge and finances move on over to the “big dog” deals. I like it and am interested?? If anyone out there is into sucessful short sale or would like to partner up please do not hesitate to contact rashid.03 @ hotmail.com
December 2, 2010 at 10:14 pm -
The program that would ramp up my business would be one that would take a beginner like me from start to closing. To show me the ropes and “spoon feed” me until I get it on my own. To be a mentor so I can speak with my mentor and not a customer service rep who doesn’t even invest in real estate. A program that will include lead generation, tips, a business model, hard money lenders and the whole nine. And I would like for this to come with a reasonable price tag. In return I would even be willing to give up a little more on the first 3 deals and we make it even split after this?
December 2, 2010 at 6:44 am -
Thanks for even giving me a chance to meet someone that knows what they are talking about in real estate. My ultimate Dream come true would be to figure out how to replicate what your doing in any market from coast to coast. Being able to be the ultimate agent weather it’s in Southern California or Cleveland Ohio. Knowing what to look for and being able to explain it to clients and potential clients even if I’m not licensed in that state, and creating a mastermind group where everyone one in the group can make money and how to effectively use everyone to create an ultimate dream come true for all who is willing to think outside the box….
December 1, 2010 at 2:00 am -
i have been working on a t short sale deal for about 10 months. we have had it under contract several times. Now that we are finally getting it closed, Colorado has changed the disclosure laws starting Jan. 1st.
November 30, 2010 at 5:13 pm
My dream program would be learning how to buy the notes from the bank on properties in foreclosure. -
My Dream- to close another deal fast, so I can afford a coaching program, I consult homeowners how to keep there home in the foreclosure process, laws change all the time would be great to have a mentor that I can talk to and learn more info, tip, and tricks from. me and my partner split about 2 months ago so I started a new business a month ago due to thins,and would like to set it up the correct way so I can help out more homeowners that are in trouble with there homes.
November 30, 2010 at 3:35 pm -
I have been a student for several years now and I have become very intimidated by two issues – the uncertainty of the business and the risk attached to it.
My dream would be to limit the risk but your agreement to fund my purchases (flips, short sales) for the first five transactions. Since you are assuming the risk, the first five would be 75% yours. The next five transactions we would split 50/50 and then we would need to negotiate the next step. My opportunity would be tied directly to your profit margin.
November 29, 2010 at 7:34 pm -
Josh,
Dream Coaching would include the following;
-A scalable and repeatable results system like a McD’s franchise (soup to nuts).
-A Josh system duplicate right down to the office furniture.Given he started with no money to market and wanted to wholesale REO properties.
-How to find REO agents
-Scripts to get REO agents to cooperate and give up pocket listings.
- A system requiring no marketing
- Setup the transactional funding or equity partner in advance
-A ready list of real cash buyersA cooperative title company the accepts double closes and understands them or allows “and or assigns” in an option.
-Josh sleeps helps until I get it done and setup.Then I woke up….
November 27, 2010 at 7:16 am -
Josh, Would like help with first deal. Fash cash in these times. Wouldn’t mind partnering with you at all and then gradually short sales and wholesale.
November 27, 2010 at 3:29 am -
Dream Come True: it would require me to pay you nothing up front, all money would be split out of deals 50/50 w/ you for the FULL 1st year of business that I would do BECAUSE of the work/learning that I received when I was working hand in hand w/ you. In other words the only thing i would originally be out would be MY TIME spent working or doing the things you are telling me knowing that other than our collective efforts we only make money when we close the deal…BOTH of us. You could allow free access to your system etc. for the 1st year. If I was successful you would make money as well. I would make money and become a realistic believer and since I was working in your system etc then after the 1st year i would then want to stay w/ the proven track record and a system I was successful at. You would then charge me money that would allow me access to your system. Boston Cleveland please!!!!! Thanks Hope it helps. JB
November 26, 2010 at 2:07 pm -
Getting people to take me serious, being that im 25 and still reanting. But, im not a quitter so ill be ok.
November 26, 2010 at 3:51 am -
Josh — As a recently divorced mother and first time investor, I think the main stumbling block is fear. I know I am capable of success, but I have been a stay-at-home Mom for the past 20 years. Starting out can be so daunting and I think those around me contribute to the negativity. The first step is always hardest, but a fist sucecess is always the most motivational.
November 25, 2010 at 7:27 pm -
Yesterday after negotiating a Short Sale for about 3 months, I got a really bad news for all of us in the S.S business; Wells Fargo neg. told me that they have red flagged most of all transactional money lenders Co. and that they will not longer allow any kind of transaction with them.Furthermore;they give me a list of all the red flagged transactional money lender Co. What is next?
November 25, 2010 at 6:59 pm -
I think a dream program for me would especially include more hands-on, getting into real deals than the other programs I’ve done. There have been good things about them, but having someone experienced help you through your first deal or two would be an amazing help in the beginning, and would be different than most of the other programs out there. Maybe a 3 day intensive would be included where that is all you do when you get there is write up deals. You get the educational part and some mentoring up front to get ready, then go to the bootcamp or whatever you want to call it and that’s where you get your hands-on experience before getting thrown into the game.
I also think it would be a good idea to offer at least one other “higher level” program for people that don’t need as many of the basics of doing deals, but could use help in other areas to increase their business and make more on each deal. Things that would be great in a package like that would be negotiating tactics, special financing strategies and more complex deal structures, business automation, etc. Things that focus on growing a business that is up and running but has a lot of room to grow.
Hope this helps!
November 25, 2010 at 5:54 am -
My dream solution? A fly in coach to take an investor by the hand for one week. They can stay in the person’s home and actually go out into the field and PERSONALLY guide them through all they need to do for ONE WEEK. After that if someone can’t perform then there truly might be no hope for them.
I think anyone who truly wishes to succeed would do this even if they had to split and only get 5%! I’d give a full 100% to have a pro be there for me for an entire week showing me the ropes. It’s the whole teaching how to fish approach. A horse who can’t drink on his own after being lead to water is just dead-weight.
November 25, 2010 at 5:42 am -
My “Dream Come True” in real estate is to have someone like you handhold me through the first 25 transactions as well as having unlimited funding resources to acquire and rehab as many properties as I can.
November 25, 2010 at 3:11 am -
HI,Josh.Aaron here.I’m a just starting out in real estate.i’ve always wanted to be apart of something bigger than myself.If you were to train me and show me and mentor me.Ireally dont have a clue.But i choose to accept the bigger picture.PLease help me get through analysis paralysis. THank YOU.
November 25, 2010 at 12:45 am -
HI,Josh.Aaron here.I’m a just starting out in real estate.i’ve always wanted to be apart of something bigger than myself.If you were to train me and show me and mentor me.IrealLy dont have a clue.But i choose to acept the biger picture.PLease help me get through analysis paralysis. THank YOU.
November 25, 2010 at 12:42 am -
Josh I am in the process of learning real estate investment and short sales. My husband and I attending different workshops this weekend for 3 days @ 8 hours a day. The prices that these so called gurus want to charge is outrageous. I have been ripped off so many times in the online marketing information that it is very difficult to trust. Most of the materials that I invested in in the past did not have all the ingredients to be successful. I am a social worker and I am an advocate for the people, and I have become somewhat untrusting, so very skeptical about buying products because most people that promote them, make money from the materials they sell vs doing the strategies and techniques themselves. I just don’t have any monies to blow. I am looking for the real deal with God fearing people.
November 24, 2010 at 7:46 pm -
THE DREAM COME TRUE WOULD BE LEARNING REAL ESTATE DIRECTLY FROM SOMEONE THAT HAS BEEN DOING THE BUSINESS, LEARNING FRESH IDEAS,AND IMPLEMENTING THE STRATEGIES IN MY HOME TOWN WITH SUPPORT. I HAVE A VERY NEGATIVE ENVIRONMENT AND WOULD LIKE TO CHANGE THAT WITH THE REAL ESTATE. BY DOING THE REAL ESTATE AND LEARNING FROM SUCCESSFUL PEOPLE, I KNOW I CAN DO THAT AS WELL. I DONT WANT TO GO BACK TO A JOB THAT I HATE JUST BECAUSE I HAVE NO OTHER OPTIONS. I AM ON EARLY MATERNITY LEAVE BECAUSE OF COMPLICATION IN MY PREGNANCY AND I DREAD RETURNING JUST BECAUSE I HAVE TO. I WANT TO IMPLEMNENT REAL ESTATE NOW TO BETTER MY FINANCIAL SITUATION. I ALSO NEED THE FINANCIAL MEANS TO START.I WANT MY LIFE TO BE A REFLECTION OF DOING SOMETHING I LOVE RATHER THAN DRUDGING THROUGH LIFE BECAUSE THERE’S NOTHING BETTER. MILLI GRAZIE FOR READING.
November 24, 2010 at 7:29 pm
SALUTE. -
Hey Josh,
Been in this business a few years now and been more famine than feast.
My take on it:
-most are attracted to REI for the money, not their passion
-most never have made a lot of money nor run a business
-thus why the failure rate is high and most incur problems with everything, most of the time.
-and if I were to do it over again I would’ve been a ‘true’ real estate investor by ‘holding’ property (or whatever asset class) instead of the flip model of rehabs, shorts, etc.So “My Dream Come True” would be able to work with someone who:
-can paint the big picture of ‘true’ real estate investing and all the biz models available
-offer education more along the lines of one on one. Be it daily, every few days or whatever it takes. The shotgun approach of bootcamp, books, cds. etc will only take someone so far. I have questions everyday where I need answers.
-lastly, and probably most important component would be ‘inner game.’ Older I get, more and more I understand it’s all about ‘how you’re wired’ will determine your success.
Was in your training before but would really love and ‘my dream come true’ would be to meet with you one on one in Cleveland as I consider you and your group very sharp people and brainstorm about my business but more importantly how you can help many others. And taking in the Cavs would be a bonus and a blast!
Thanks!
November 24, 2010 at 6:53 pm -
I:am new to all this, need to know for a sure how to find a buyer.
November 24, 2010 at 6:38 pm
fear have me not putting paper on a property because i dont know how to sell it fast. -
Legal Advice, Proven Marketing, Wholesaling, REO, Short Sales and Exit Strategies, Private Funding Partnership, Fair Funding Fees and A real commitment (hand to hand) to make student/customer successful. I would not mind putting out my testimonial to the world!
November 24, 2010 at 4:08 pm -
Hey Josh,
Thanks for the offer to visit with you. I sold my Estate Planning law practice last year, and have owned rental real estate for many years. Currently, I own 3 rental single family residences.
I am interested to learn what kinds of courses and coaching may be available to me through your organization. In particular, I would like to be able to rely upon funding sources for both flips and holds. If equity joint venture partners are available for certain kinds of deals, so much the better.
My inquiries addressed in the past to several real estate GURUs thus far has been met with deaf ears. It appears that only a stiff cookie-cutter course schedule and materials, regardless of local real estate influences, are offered.
I want to receive custom responses from you instead of the never ending “Cheeseburger” acknowledgment yelled out by John Belushi in his famous short order lunch scene regardless of the customer’s order.
A financial source or equity partner must have an immediate national bank credibility reference since I can provide Chase Bank references from the local Branch Manager for myself.
Regards,
November 24, 2010 at 3:28 pm
Bart Rice -
Hi Josh, first of all let me say that I am not really interested in winning a trip to Cleveland, as I am not in to sports. I’m 76 years old rehabber and I’m having a ball rehabbing and flipping houses. The one thing that I think would be helpful to everyone would be software that would analyze a deal quickly, but accurately. Something that all you would need to do is punch in a few numbers, and let the program analyzes the deal. I realize that there is software already out there, but it is ridiculously expensive. Most of the time it is complicated to even work properly. Plus they bundle it with other things such as property management and other things. I think that software designated for one specific function, and priced right would be snapped up by the masses. The software would also need to factor in all the variables, such as soft costs etc. for what it’s worth, that’s my comment.
November 24, 2010 at 2:06 pm -
Hi Josh,
November 24, 2010 at 1:06 pm
I have no problem finding great deals in my area. What would be a dream come true for me is an easy way to find private money to fund these deal. -
Hi Josh,
I think the thing holding me back is the lack of specifics as it applies to my situation when it comes to the right combination. There are so many things to learn combined with false information its difficult to get to the truth sometimes. Over the years i’ve found out the truth the hard way……learned alot but lost alot in terms of money and time due to being lured by certain gurus taking advantage of my lack of Real Estate knowledge and experience. But my desire to never quit kept me going and I managed to locate the info being taught by yourself and Greg which has shown me the true difference.
I’m still a work in progress and think something like a live group mentoring program would be best. Not just a phone session but a face to face session. Something that involves a person to come down with what they have. You completely strip down their business and rebuild it the way it should be as it relates to their personal challenges and situation. In turn the student earns while they learn. If money is an issue the program is covered by a pre-arranged profit split such as a 75-25 split. The student is required to sign an NCND and any other waivers along with having an open mind and willingness to learn and take action.
November 24, 2010 at 12:42 pm -
Ok, Josh, you said “A dream come true” so here it goes… It would be YOU coming to MY city/town (Columbus) and spending a day in my home office, checking out my real estate business, and pointing out what I’m doing right and what I’m doing wrong. Listening to my phone calls, watching me speak to clients/buyers/sellers. No more webinars, no more DVD’s, training programs. I want a one-on-one, face-to-face program.
Then, after you see my operations, I want you to take me up to your location and show me how the pros do it. I want to hear you speak on the phone, I want to look over your shoulder as you analyze your deals, I want to know what you outsource and what you don’t – everything!
Every guru says they can apply THEIR techniques in any city, but this would be the ultimate way of proving it. It would be a true real estate investor’s makeover. Similar to how Steve Colbert has gives up and coming artists “The Bump” into stardom, this would be Josh Cantwell’s way of giving a local investor “The Bump”.
Coming from a military veteran who has bought every course, and has been striving to make his real estate investing business work, this would be the true “Dream” training program.
November 24, 2010 at 12:40 pm -
Just want to make sure you are not spam. Please respond back why you want to use my picture.
October 26, 2010 at 1:36 pm-
For the newbie investor,just tha ability 2 close your first deal and put a check in hand. I think in today market there is information overload. Simplify the process of closing and getting cash in hand. Cash flow is the life blood of re investing.
November 24, 2010 at 12:25 pm-
Hello Josh, Greg & Jeff.
November 26, 2010 at 8:38 pm
I work a full time job and study real estate information every spare minute on nights and weekends. There is just so much infomation to learn and understand to try to stay out of trouble. Using a flowchart analogy where you have your name on top with four columns under it with fourty four rows under each column and every one of those boxes has your name in it to. So much time passes between all this part time studying you tend to forget, get confused how to integrat it all together.
The point is I would like to see you guys make full length video’s about the different aspects such as short sales, wholesaling. probate ect. with a thousand links in if necessary for specific traing (how and when to use Land Trust, every detail and document to do a closing)that way you can wrap your head around all the necessary steps from start to finish when you start talking with prospective customers.
Setting up video’s on demand this way the student can buy the video’s that apply and you could charge accordingly for the value of the informaton presented.
This way the student gets specialized knowledge and when information or procedures change you can revise the video’s and printout’s and charge accordingly. This is a rough overview of what I would like to see happen.
Thanks,
Gary
garysanicky@bellsouth.net
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My biggest issue right now is the non-acceptance of the option agreement for short sales. I have given separate presentations to a handful of real estate agents, and I’ve been assured by them that it cannot be used. Now, I don’t believe that for a minute. I just have to keep presenting it to agents, I guess, until I find one that “gets it.” My attorney has no problem with it.
A few weeks ago I made two offers on listed short sale properties which were listed by the largest real estate firm in Tucson. They refused to present my offer to the seller claiming that my addendum was not valid. Even after I revised the addendum to try to accommodate their objections, they dropped my offer and I never heard another word about it.
I’ve had the short sale training, have the funding available, and have access to a good negotiator (aside from doing 300K+ deals with SREC) and I’m ready to get started. I’m frustrated that I can’t get this thing going.I’ve purchased several courses over the last two years and it has been difficult implementing them. Having a full time job and trying to invest part time is challenging. I’m finally getting organized enough to begin some marketing and having the time to handle the results.
September 22, 2010 at 6:33 pm -
Hey Janos,
I wanted to follow up with you on the document merging issues that you have experienced in your Open Road account. The good news is that there was an update that went in yesterday that corrected this issue. So you should not have to continually upload your documents to have this auto-filling functionality. I also wanted to address some of the suggestions you gave. You do have the ability to give someone access to your account on a limited basis, this is our Power Linking functionailty. You also can have multiple fax lines attached to your account but they wouldn’t be dedicated to any 1 individual log in for your account. You can run a report that will show you, in a specified time period the faxes that were sent and received with the page count, sender and recipient number, date and if the fax was successfully sent or received.We are always all ears for suggestions so please let us know what you would like the application to be able to do. You can always send your thoughts to support@realeflow.com and have the subject be ‘Bright Ideas’
September 22, 2010 at 4:32 pm
Thanks,
Josh -
Well, well, well……..seems to be a common thread on many of these issues listed by others here.
I am a seasoned investor as you know. I have made several hundreds of thousands of dollars over the last few years doing nothing but shorts. However both the political and financial landscape has dramatically changed over that time and is still evolving.
Here is what i have persoanlly seen or experienced:
1-State agencies /Laws are directly impacting profit motive here in Florida not to mention guys like me with a Real Estate Brokers license are being targeted. I just made it through a exhuastive audit and investigation and even though I have been cleared , it was still a HUGE hassle and scared many of the realtors i work with.
2-I work with about 4-5 realtors here and have plenty of deal goin on. The issue is, i have approvals but no buyers. We advertise online heavily and use MLS but my realtors are still coming up short.
3- Lenders have become increasingly aggressive and deals and cutting out investor purchases. My area BOA, Wells and CHASE make up 90% of all deals. Self explanatory. Funding isnt an issue but here is a growing trend Im finding: Values sliding down so low that even if you were paying 100% of BPO the lenders are countering much higher because at BPO they say it doesnt pay and a foreclosure is preferred? How do you fight that? Ive had several deals where the counter was $20, $30 or $40K ABOVE BPO ( not to mention my offer) because anything less the investor chooses to foreclose.
4-Many REOs are being placed at Auction where they either get sold higher due to competition or the Lender renegs on the auction due to low sales price and returns it to auction in 90 days. Auctions (REDC) are the biggest scams.i am transitioning my business from Shorts to other means of acquisitions. Buying notes is great in theory but thus far I have found very few lenders willing to part with the One Offs and will only discuss mini bulk purchases. Notes work best when you can create them through a hard purchase.,,and i do.
I have analysed about 20 commercial deals and the perception out there with owners is many still dont feel the pinch and most do not have to sell. The ones that do have been properties that could not generate income or are unfinished. I think location is a factor so I will be relocating in the future for 6 months out of the year to pursue out of state options. On a side note, the Hanover Fawcett product was a disappointment. Nobody waste your money! I returned mine.
In short (LOL) the atmoshere is hostile, lenders are hostile, legislation is hostile. Time to think out of the box…..
September 22, 2010 at 12:41 pm -
Wow! We echo virtually all of the above comments. We would add that WE need more specific steps and “hand holding” on the process. Cash flow is always the life blood of any business transaction. But, WE are in need of specific systems and more of a “turn key” or franchise mentality. Perhaps that amount of specificity would provide a secure confidence in our ability to find the private lenders, keep up with the banks, and get ourselves further down the short sale road than we are now. We need more clarity as to what expenses we should expect as the business begins — we feel very unsure and unprepared for any unforeseen transaction costs. Isn’t there a list?
September 22, 2010 at 3:51 am
Finally, the training program seems to have lost its energy… Could we get more notice as to call topics, meeting dates, and contact times?
Thanks for asking — you are brave! -
Any chance you can set up a replay line or replay webinar? I can’t attend the call tomorrow and I HATE to miss it given the topic. I didn’t know if we had a session this week for sure (I’ve since schedule weekly Wed calls in MS Calendar). I’m having a CAN’T MISS meeting with my attorney and his team to review the files they are negotiating.
September 21, 2010 at 5:43 pm -
Josh and Jack, still wondering why on the last call using the financial calculator, my results were consistently off, but barely off, e.g. 0.1% for interest rates or $2500 on a PV which should have been $350K. Wondering if maybe my calculator (it is pretty old but it’s an HP 10BII). I seem to remember having a similar problem with it last time I used it for RE calculations probably 10 years ago.
September 21, 2010 at 5:40 pm -
Last month we lost 7 good deals to foreclosure…the first month we have ever lost so many. Usually we lose one, maybe two, and have always had great success with postponements. Are the lenders changing or are we doing something wrong? We are in Texas, a fast foreclosure state.
September 21, 2010 at 4:44 pm -
C buyer financing, without a doubt. Banks are more worried about the A-B transaction…or maybe using it as an excuse. We have had C lenders leave us at the closing table with no excuse!
The banks, who caused this problem, just keep throwing more roadblocks out into the street to hinder investors.
I think a campaign in Washington such as Jeff Watsons is just the thing. We need to get the word out that we are solving problems, yes we make money but with out us, properties are foreclosed on and the problem gets worse.We are in SE Florida where defaults are up 100% over last year to 15,500 in our county alone. We are part of the solution, not the problem!! Thanks guys for all you do. Our business has blossomed with your assistance.
September 21, 2010 at 10:33 am -
Josh, my primary issue is private money. I am working on Josh’s program and have had several nibbles but the requirements they have for a rookie is very unrealistic. One want primo property with ARV of 50%. The other wants to get commercial only. I am just getting started and it has been very very difficult to get that first deal done.
September 20, 2010 at 11:41 pm -
Help, Have Cash
September 20, 2010 at 10:59 pm
Need about 20 socal deals with room to play plus two 5-15 mil flips for West LA north to Malibu. Celeb type houses that are gated. 951-552-7600 -
I have been attempting to execute the A>B B>C model for many months but to many obstacles. Very limited success and a lot of work. SS lenders not willing to sell with enough meat on the bone to make a spread, C buyers lenders not willing to finance flips, transactional funders limitations on holding and spread in a deal too low.
Figured the key to success is to pursue opportunites with private money which means can also target reo’s and other distressed properties, but seems getting most of the buyers out there these days are investors and the proportion of retail buyers is very low and a lot of sellers chasing the same buyers.
But with that in mind find it challenging to identifying the sweet spot in atlanta where there will be retail resale to potential to make a decent spread.
September 20, 2010 at 3:24 pm -
Josh,
You hedged your bets… Cashflow it is. If new training is put together to cover this area, how does one with cashflow restraints get into any new training without being able to further extended an already over extended budget? If there was a creative solution put together for those with cashflow problems (maybe in the form of a partnership) I’m sure it would be greatly appreciated across the board. Even if the partnership required a higher overall investment from this end, to cover the risk of training, I would consider jumping in. Thanks for your concern.
September 20, 2010 at 1:55 pm -
In short; confidence, coaching and cash:
CONFIDENCE:
I started the real estate game almost 3 years ago. Made my first wholesale probate deal 8 months after purchasing a high end home study course on a credit card. The deal only paid off a fraction of the credit card debt but I was sure things would pickup so I moved into short sales. Got into a great beginners level short sales coaching program with the thought of up grading once the deals started coming in but it never happen. Never closed a short sale deal and never upgraded in the coaching program. With a growing credit debt and no income to offset, my confidence fell and I slipped into a period of depression. I am operating at -$15,000 (yes that is a negative) and growing at 19% interest every month. To stubborn to give up and walk away I struggle every day with finding a solid lead that will help me get out of this whole.COACHING:
Thought I could supplement the low level short sales coaching with the assistance of a local real estate guru who passed himself as a mentor. I scrapped up the $3000 fee and got nothing in return. This person was not a mentor but an investor who convinced me a several other newbie’s in the area to join a mentor program that really was a bird dog service for his own business. Every educational aspect of the program cost an additional fee to obtain and deals were selected and approved based on what he needed to get his own business to the next level. This almost discouraged me form participating and any coaching program but I continue to look for my teacher because the student is ready. With no income I had to drop the short sale coaching program.CASH FLOW:
Cash poor I hang on. I have exhausted my personal savings, operating at a -$15,000 (not including the daily expenses of gas, phone, postage, etc.) and about to go under for the last time. If I can not turn a wholesale deal by the end of the month I will have to default on the $15,000 balance something I have never done in my entire life. EVER!In an effort to work the long term strategy with the short term, I just recently added $1,300 to my debt and purchased a home study coarse for private lending in hopes of working both ends (i.e. short term and long term).
All of this just to say my everyday challenges are restoring my confidence while looking for a real coach and establishing a regular cash flow.
September 20, 2010 at 12:17 pm -
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I would be willing to respond to your inquiry. I am the proverbial ‘new kid on the block’ as an RE investor. I am founding owner of Integrity Group LLC. In my short time in the industry, I have had several challenging experiences with both Hard and Pvt Money ‘pulling out’ in the 11th hour. Question? How can I increase my opportunity of accessing quality OPM for completed deals???
September 20, 2010 at 6:29 am
Blessings, Sharon Z -
I am having problems developing a good business system in real estate investing i,e, generating seller leads, buyer leads and a list of private lenders as a result of not having the time to devote to development of a good system in real estate investing as a result of having to rely on practicing medicine on a full-time basis
September 20, 2010 at 6:02 am -
I’m having problems getting Seller Leads and finding the time to develop a good running business system in real estate investing as a result of being a real estate investor on a part-time basis and relying on practicing medicine to generate the revenue I need.
September 20, 2010 at 5:50 am -
Josh, My challenges are probably a microcosm of many investors having a hard time getting started. I live in the highly regulated state of Maryland and that makes me a little wary to begin with. Funding is also a big challenge and generating leads is a close second. It would be great to find a system that didn’t load you up with montly fees while you get started. I find myself listening to too many webinars but end up doing nothing; fear of the unknown holds me back.
September 20, 2010 at 5:03 am -
Hey Josh and Jeff,
This is Milan Rogers, working out here in Utah on a bunch of short sales. I was meeting with my business partners late last week to discuss what we see as a growing issue when negotiating short sales with a number of banks. It appears that some banks are discriminating against investors (i.e. the buyer is an LLC, etc.). When I say discrimination, I mean that they won’t cover as many closing costs (Chase bank) or they won’t take as much of a discount. We have found out that they are even noting that the buyer is an investor in their files when passing it on to their investors. This is causing some very serious issues for us and is really eating into our spread and our ability to get some of the short sales closed. Thoughts?
September 20, 2010 at 3:58 am -
my biggest obstacle right now is my marketing! last year i did two short sales closed one in august and the other in november, using your book. this year i have done ZERO im not getting any call backs on the letters that im sending out to potential clients that i get from the county sheriff sales list! i must have sent out over 400 letters in a two month span. with no call backs and a ton of the letters returned to me. right now i feel like i need a boost im looking into buying an reo but thats not what i want! i want to set the price and get the full discount myself.
money is not a real issue at this point i have a ton of equity in my two rentals that i acquired last year using your book.
i just want more leads and more deals in the pipe line! i want to do this full time but until that happens ill be a prisoner of the 9-5 system.
thanks by the way!
September 20, 2010 at 2:45 am -
I have trouble driving motivated seller leads to my website, and cash flow coming in. I am in a J O B at this time. What can you recommend?
Thanks, Tony N.
September 20, 2010 at 2:17 am -
I can easily find properties, don’t worry about seeling if I bought them correctly butn IMHO, we are coming to the point where we need real all cash investor/lenders to close the A-B.With bank to bank verifiable funds and a peomised 10 close the REO/ mitigation departments start dropping prices dramatically.At that point we have many options for the property sale. Finding investor with that much cash is difficult at best.Personally I’d like to have the ability to have 5+ transactions in the pipeline at one time.
September 20, 2010 at 2:02 am -
my problem is that no fundingand nervous about losting my shirt,just trying to work with someone in foreclosure and find a good deal.
September 19, 2010 at 11:41 pm -
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Hi Josh, i am Kevin B in Miami, my big problem is finding buyers with cash, I have a property that i have been trying to sell for 4 months and have lowered the price 20K, i also need some help with advertising my properties,how can i get them to the buyers
September 19, 2010 at 10:31 pm -
What’s holding me back?
Uneducated / Unmotivated Realtors and Start up capitol for site design due to the cost of fiance’s SS career with one of your students who found it necessary to wine and dine her for our network of Realtors so he could succeed! You asked!
I think the BEST possible thing is to do a “recruiting” video towards Realtors that your students can use for promotional purposes. New investors don’t have the status quo to get into the Realtor circle without credibility / resources / backing.Let new students use your credibility / law firm / resources and you will have a surplus of new students. Give a man a fish .. teach a man to fish! – Ward
September 19, 2010 at 10:08 pm-
I don’t often reply to others comments, however, I went to your website and it really touched me my brother in Christ. I will be praying for you to receive a bountiful blessing and remember God punishes those who lift their hand against His anointed and we are a royal priesthood so revenge will be His.
November 25, 2010 at 8:40 am
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the problem we encounter as investors is the right place to find porperties and to ein the offer as well Grace
September 19, 2010 at 10:00 pm -
Hello i am a real estaeagent worjking with two investors the problem we encounter is finding the right web an updted one for us to make the offers and to win them too. thanks Grace
September 19, 2010 at 9:58 pm -
Hi Josh I am a nfairly new ias far as ivesting ,I am a real state Agent nd have two investor who are ready to invest now. Our major hurle is fo find the righr web page about forclosuresa and bank own properties to make the offers most of the info there is already old not updated thanks for your advise Grace
September 19, 2010 at 9:55 pm -
Need more private funding…for the 30 days hold it seems like due to the law of supply and demand, the pricing has increased so much that to hold a larger property for any length of time to meet time on title criteria, your profit is taken by the funder. While before it was reasonable, it is getting more unreasonable as the banks require us to be on title longer.
September 19, 2010 at 7:59 pm -
You cant help me-I am unemployed that is the reason I have this lack of funds.
September 19, 2010 at 6:01 pm -
My problem in two words is cash flow. I have put a lot of money into this business without gain. I worked the absentee owner niche until I ran out of money for marketing. I have moved on to the foreclosure/flipping niche, where there is a lot of competition in my area. No hits to date. I would love to pursue absentee owners if only I had the money to do so.
September 19, 2010 at 5:52 pm -
Hi Josh and Jeff
C LENDERS!!!!!!!!!!!!
The Biggest Challenge I see is the C Buyers Lender being STUPID and focusing more on the A to B Transaction then on their own potential Mortgage Customers purchase, by evaluating and underwriting that transaction so they can fund and close that purchase, instead of worrying what the Investor A to B Purchase is.
We have a complete Team Lead Generation,BPO Agent,Negotiator and Real Estate Team
Every deal we do separate stand alone legal transaction.
The Investors and the American people will role up their sleeves and dig this country out of this mess the banks created not the Banks or the Government!!!
September 19, 2010 at 5:38 pm
I hope the Lenders I am referring to all go Broke and our Government does not BAIL THEM OUT -
Josh, I appreciate the opportunity to offer feedback regarding short sales transactions. My biggest 3 problem areas are:
September 19, 2010 at 4:57 pm
(1) Regarding A-B, B-C deals: if the C buyer insists on using their own title company or lawyer, once they (C bank or C lawyer) see the approval letter from the A sellers bank they halt the deal, saying it is a flip, even though they have a copy of a ‘standard’ purchase and sales agreement and the SREC addendum which discloses the conditions of the B-C sale (I have tried a didactic version of the approval letter, they won’t accept it);
(2) Regarding A-C deals: if the bank being shorted, is paying the fee (negotiation or lien release fee) off the HUD, they have refused to provide approval. I have seen the bank refuse approval even if the C buyer is paying the fee – bank wants all the money, even though they cannot close since we have clouded title by the recorded notice of option;
(3) locating funding for 30 day holds (seasoning)which have reasonable interest rate fees for deals closing above $1,000,000.
Thanks,
Matt -
My top three challenges are: (1) Finding Brokers/Realtors who will do short sale flips. In my area, most are scared and won’t even consider it. (2) I’ve overwhelmed myself with too many training programs. I really want to do short sales as my main business and have bought other programs because I thought they’d be good complements to my short sale business. (3) I need a broader support system, someone to ask questions, help me figure out what to do when I get a deal and I’m not sure what I might be able to do with it.
September 19, 2010 at 4:26 pm -
Seller lead generation
September 19, 2010 at 2:53 pm
Buyer lead generation
Haven’t gotten to negotiating with sellers yet will be terrified
Don’t know how to fill out contracts yet
I don’t have any cash or funding
My job gets in the way big time but I need it to more on to the next level only source of income at this time
No I have a none believing family
and no free time
I have trouble implementing
I need help marketing for leads. -
Josh what is needed is services not training. It is also where the really big money is. Neophytes will stumble onto pre-foreclosure properties and anybody can buy an REO but from there they are lost. I am a one-man band working 100+ hours weekly to run my own business and pull together as many services as possible. If you could produce a cost-effective member driven one-stop shop you would attract tens of thousands of new and experienced investors.
Training people to think out of the box or to be sales people or to technically weed through things like public records does not work for those without that acumen. Mentoring is an answer but it is costly to the client and time consuming for the pro. A web driven service is the solution. A series of questionnaires can direct most members to put together deals. Form sales are great too but the biggest attraction is Private Mortgage Lending. Not how to find it but a non-profit association members only service that links RE investors with folks who need a secure income stream or want secure returns for their self-directed IRAs. Consider three types of members (1) RE investors (paying); (2) Vendors (paying less & getting no services – RealtyTrac, MLS, Title Agencies and purveyors all with a special seal, certification, rating or discount) consider a directory and newsletter with ads; (3) Finance Members (mostly private mortgage investors who pay no membership fee and get things like free association sponsored group trips). These members are sought by Financial Planners and others who can receive a substantial non-SEC regulated commission promulgated on membership and paid when there is Finance Member activity. The commission is to be paid for by the non-RESPA borrower, incorporated into one of several fees that I have in mind.
OK this all said I have prepared a Private Mortgage Plan and listing of a few of our properties but have no time to implement it. The plan calls for short and longer term Transactional Funding as well as Private Mortgage Lending of up to 5 years. The program has 9 built in safeguards including using a land trust (sorry Jeff) with the lender as a beneficiary so that there is never a need for a foreclosure. I also devised a 14 point Key risk/reward Rating System that every RE investor should use at least in part to analyze each investment. I will gladly share the program with you…we should talk.
The association is great conduit to support Jeff’s initiated lobbying effort and later a PAC.
September 19, 2010 at 2:44 pm-
you and I are thinking exactly alike everybody wants to sell something and no one wants to help with all the pieces if we had a community where some did the deals some had the funds some did the birddogging etc what a great setup and how much money and how much benefit would it be for everyone
September 23, 2010 at 12:25 pm-
Josh- Why cant we develop a marketplace concept where people can bring their deals online and the SREC membership can partner and provide value where all the education learned through SREC is put into action leading to revenue? Seems we could open this up in the current forum. We would need standards of some kind and possible diff levels of discussion for diff levels of investor experiences? A marketplace would be the next logical step for SREC to faciliate local.regional, and national deal syndication and assembling the right people w the right expertise to the deal and who share in the profits? Comments- Next Steps
September 24, 2010 at 12:37 am
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the problem out there is everyone wants to sell something nobody really wants to teach anything and everyone is greedy everyone wants their pound of fleshh $997 to $2000 and says only way to show someone is real bull$#% there are thousands of people out there that would like to do this and even more who want to do this but money is the issue so the continue to be in limbo did you see the poverty numbers this morninf up 10% from last year ask a guru to partner and with the exception of 3 they all say we don’t partner so they are all just selling over priced programs and not doing deals why not have a program where you start from square one do a,b,c have it on a multilevel program no charge or minimal charge then guru makes money people make money and overall everyone including the sellers benefit lokk at the book rich dad poor dad what does he say either due real estate or mlm and be the b in an abc situation this would provide all three sorry for rambling but tired of good people being left out in the cold due to greedy individuals only looking out for themselves if you want to contact me id love to talk live around the corner from your offices in strongsville,oh
September 19, 2010 at 2:20 pm-
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sorry i didn’t see your reply i am starting to work on just such a system i know you were at the hotel the other day but didn’t get to meet with you but talked to Francis quite extensively i would like to really meet with you email me and a time that i could call you back
November 26, 2010 at 1:18 pm
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Josh, you hit it right on the head! Day to Day operating cash flow is the main reason that most of us can’t progress like we know we can. Just finding the funds to do all the marketing that is needed is very tough especially when you are cash challenged just trying to pay the bills. Internet marketing doesn’t seem to be doing it for me, so direct mail is the next best thing but takes consistant cash flow to maintain. I have the deal funding contacts, but not the capital to make my business grow as I know it can. I have joined all the right groups (Omega, SREC, OpenRoad, SMP, etc) it still comes down to operating cash flow.
September 19, 2010 at 1:56 pm
Thank you, Jeff Watson, and Greg Clement for continuing to strife to bring us all the tools and coaching we need to be successful! -
Our Challanges are based around Cash Flow and funding issues. We are noticing more lenders are requiring you hold the properties for a period of time leaving the Back to Back closing option unavailable. Finding transactional funding (that is affordable and within reason) for these types of deals are hard to come by.
September 19, 2010 at 12:17 pm
Hello Josh. So estatic to have come accross you videos. I love the quick cash infusion techniques. Great way to break into the business to build a scalable business.
April 13, 2011 at 2:09 pm