Ron LeGrand Lease/Option Success!
It's time I told my story....
To all those that helped me get started back a couple of months ago when I was a Newbie: Thank you, thank you, thank you. You know who you are...gals and dudes that were real cool with their time and experience to help me with some questions I had to get me started.
Thanksgiving 2001... received my Fast Cash program from Ron LeGrand, I subscribed to Nightingale Conant and LeGrand got ahold of their mailing list so I sent in for a free tape, and the rest is history.
Got interested in real estate investing.
Took December to really see if this business is for me...post questions, read books, talked to experts...found a way to win.
Christmas...big time present for myself...I DECIDED to go forward with this business and DO SOMETHING!
New Year's Day...start of something grand in my life with the launch of my real estate investing business. Ordered marketing materials: bandit signs, cards, flyers.
Continued to learn this business every night. I made a promise to study the boards and read and understand this business at least 1 to 2 hours each evening. I learned from people and I gave whatever I knew, mostly encouragement to Newbies. You cannot keep getting good stuff/advice without trying to help someone else, so I posted a response to a question when I had a question I wanted to post.
I looked at this business and realized that Lease Options fit my style. So I went forward with only focusing on Lease Options. I figured there was no need to know about everything in Real Estate...just Lease Options. I wanted to cover every angle I could about lease options, because it was the way to go for me. No money down needed, no credit, no risks (almost), fairly easy to do, no fix up needed, and I would deal only with pretty houses.
So I got ahold of almost all the courses on Lease Options. You name it, I probably have it. Learning and driving and listening to audios of Lease Options in my car, posting and learning, over and over again, brainwashing myself to build my knowledge base.
BINGO!!!! Won the lottery!!!! When you keep at something you really want, the universe answers your requests.
I figured the fastest way to be an expert an anything is to know what the experts know, beyond the audio programs and books. I looked for a mentor to guide me through this initial learning curve. I found an experienced lease option investor in Florida who was willing to help out this young ambitious investor. He said, "All I need from you is effort." And that was a no-brainer. We were Rockin’ and Rollin’.
We had an arrangement of a 50/50 split. Fantastic decision. I make money, he makes money. No risk to him besides his time and no risk to me because I did not fork out $3,000 to $5,000 for a mentor. He would guide me on my first 1-2 deals, and we covered every angle of Lease Options. There would be days sometimes when I spent 1-2 hours at a time asking questions and getting coaching. (I am forever grateful for his time, patience, expertise, and help.)
We work on the leads coming in from the marketing.
NOTHING HAPPENED for a month!!! I placed 150 bandit signs, and all I get are weak leads and investors calling me, a total of about 7 calls. Just a little worry since most gurus say that bandit signs are VERY effective for them. They all tell me to be patient and "you only need one to make all worthwhile." I hold my breath and take their advice and press on.
So I get proactive, and I call ads in newspapers. Nothing there either! Good practice though. If you want to learn this business, cold call, it is good practice. I do not cold call now, but I needed to in the beginning so I could practice my lingo with prospects, sellers, and tenant/buyers.
Flyers. I tried passing them out. Seems like a dumb thing to do because it was wasting my time. I tried looking around for High School kids to do it for me. No luck, so I paused that campaign for the time being.
I also went to Real Estate Investor meetings. Good networking opportunities to share and meet fellow investors. Some possible alliances that could help my business and good relationships forming for me at those meetings.
I give a cool message when I go. In the Baltimore meeting there are about 200 investors and attendees. I stand up and say (I’m Asian), "I did not come here to make an announcement about Real Estate but did anyone order the Shrimp Fried Rice, the Hunan Lo-mein, how about the General Tao’s Chicken????"
I usually get a good laugh and then I fish for leads by announcing a fee of $500 for referrals from Bird Dogs for FSBO's, tired landlords, pre-foreclosures, expired listings, and houses with no equity. It never fails. I usually get about 4-5 bird dogs calling me after a meeting, not to mention a person or two wanting to learn about Lease Options. Good lead generator.
After much effort and hustle, a motivated seller finally called me from my bandit sign. A wholesale deal. I put a Pure Option Agreement on it and fished for investors by placing an ad in the Sunday Post. "$35K Instant Equity, Rehab Special, phone number.” And the phone rings off the hook!!!! It’s a madhouse and my REI machine is working!!!! Almost too good to be true. Those experts were right. Man, flood gates opened!!!
I also called Internet FSBO ads back in January and after about a week and a half, surprise, surprise, surprise. A prospect was buying a new house and was open to a Lease Option, so she called me back and wanted to move forward with the Lease Option program I offered to her.
Funny thing, nothing happens, and then it all starts to roll for me. I SIGN TWO DEALS ON THE SAME DAY, Martin Luther King’s birthday (February 18), and I get two contracts signed!!! I’m in business. A wholesale flip contract with the seller and the Lease Option with the other seller. Total money out of my pocket is $5.00 for the wholesale contract and $5.00 for the Lease Option contract (to make it binding). Two houses!!! YEEEE-HAWWWW!!!!!!
I collect a cashier’s check on March 7th for the wholesale deal to an end investor for $5K. YEEEE-HAWWWW!!!!!! again
I collect a cashier’s check for $6K on March 21st, right before my flight to the CRE Online Convention in Atlanta. YEEEE-HAWWWW!!!!!!
BOOM, BOOM, BOOM. I’ve been busy since.
The coolest thing is that I am still learning, but I feel with those two deals under my belt, I am very confident of my system and process. I came back from the Atlanta convention with about five colleagues that want to team up with me to do a couple of deals together.
I have a deal in the works that will net me $20-30K due at the end of this month of May from an investor friend that went to Atlanta. So for those of you that did not go, you missed out on some good learning and some great opportunities.
A couple of months ago, I was hustling around getting answers to my questions. Now I have bird doggers and mentees (if you want to even call them that) calling me asking for advice.
It’s almost too funny, but I tell people who are interested in this business that they can do what I do. Some believe me and others don't, but I’m not here to convince anyone. It works for me and that’s all I needed to know.
Most people never get started because they are stalled at the starting gate. (Fear.) If this is you, get over it and do something, and the fear will disappear. ACTION IS A FEAR KILLER!!!!
I did not start this business with a boat load of money or knowledge, nor did I know a single person in Real Estate, but with time all things are possible.
Go ahead, ask me how good life is. The money I made so far sets me straight, covering my expenses and marketing costs for a couple months, and I already have lots of other deals in the pipeline that will manifest in the upcoming weeks. Especially that sweet deal that will net me all that green. So the good news is it only gets easier.
I’m flyin’ baby!!! Life is absolutely beautiful!!!
My advice: Have faith in yourself, work with a mentor, always continue to learn, help others if you can, and just chill baby ’cause this stuff works if you want it to!
Much wealth and success to you my friend!
Even though this is not my forte', I found it extremely inspiring and hope you did as well.
It was one of the most inspiring articles I read. I could identify with everything you said. I am still in the learning stage, like you, I am doing all I can to learn and attend courses, networking, ads etc. but have not done one lease option. I look forward to the day when I can write my accomplishments as well.
I am still looking for that mentor. I am attending anothe real estate course next week and hopefully I will find that mentor to help me.
Thanks
Planb
First, congraduation. Second, any suggestion on how I can find a mentor. I live in Oahu (Hawaii) and I will be moving to Iowa in August. Any advice is appreciated.-Kham
Hey Kham,
Glad you enjoyed the article,
You can start by attending some local real estate investors meetings or look in the local paper and call all the (we buy houses) ads and inquire there. (I assume you re looking to birddog for them, right?)
But Kham, why on earth would you want to leave beautiful Oahu for (ugggg) Iowa? need snow in your life? rain and unpredictable weather conditions, tired of the waves?
Did someone tell you that Iowa was the place to be, does Iowa have it like that?!
Just kidding,
Anytime I can be of help,
Clif
Second time reading your story. I love real making it stories. I am very happy for you. Currently I dabble in rentals, but I would really like to spread my knowledge out to other branches of REI. Which lease option program do you suggest was the most helpful? I have been reading about Beaubien Investment Company's Lease Option program. You prefer LeGrand?
Good luck continuing with your success.
-John A
Mr. Vodka
Central NJ
Ron LeGrands cousrse is very informative, giving you about 30 CD's 9 audio cassettes and reading to go along with it.....I met him awhile back and he's very aggressive....
However, you can obtaing the same info. for a heck of alot less right here at TCI. If you're strapped for cash, nosy around in books, audio tapes from the library and listen to the posts here.
Really not that difficult to get started...just have to be persistant....attend some local REinvestment club meetings and pick up some free info. along with seminars that come to town. This should help get started fairly quickly.
Hope this helps.
Clif
Hey pbodys!! How are you doing. I was interested in getting started in Real Estate investing but don't really know where to start. I recieved your story through the tcinvestor newsletter. I must say that it is very impressive and motivating. Lease options sounds like a good way to go for starters. I see you started out with the Ron Legrand system. I don't know too much about him, is his program something you would suggest buying to start out? I live in Iowa(changing weather, no culture, you know the deal) but I am hoping that success in Real Estate investing will allow me to move to either Chicago or Virginia. Any advice or tips you could give would be greatly appreciated. Oh yeah, what is a "bird dog", and where did you look to find your mentor? Thanks very much for your help.
Bill
Ron LeGrands cousrse is very informative, giving you about 30 CD's 9 audio cassettes and reading to go along with it.....I met him awhile back and he's very aggressive....
However, you can obtain the same info. for a heck of alot less right here at TCI. If you're strapped for cash, nosy around in books, audio tapes from the library and listen to the posts here.
Really not that difficult to get started...just have to be persistant....attend some local REinvestment club meetings and pick up some free info. along with seminars that come to town. This should help get started fairly quickly.
A birddog is someone who (contractually) seeks/searches for properties for an investor according to what the investor is looking for , i,e. foreclosures, wholesale deals, ugly houses, motivated sellers etc....it's a great way to get started learning the biz while making $.
Hope this helps.
Clif
Wow...thanks i needed to read this before calling 2 people wo calledme off my nod letter this past week....thanks....C
Hi, my name is David, just started looking into real estate investing this month. I read a Robert Allen book called "Road to Wealth", went to one of his free 2 hour seminars, and was dissappointed when I found out they wanted 3k for a 3 day seminar, part of his making 1000 people millionaires in a short time challenge. Whos making the wealth? At 3k for 1000 people, that comes to 3 mil, so I guess it is Robert Allen and associates. HA! How does he sleep at night? Oh, I guess pretty well on his ill gotten pile of money. However, I am motivated to make a living (and hopefully more) in this business, and don't need to pay R.A. 3k to do it! My wife found this site tonite, and it looks promising. nice story from pbody. I'm in Orlando and if anyone can help me (mentor) I don't even know yet what lease option or subject to is, but I do know some from R.A.s book (finding don't wanters, etc.) Any guidance or help would be appreciated. Thanks
Hi David,
You can learn alot about getting started right here on TCI. Just go to the beginners forum and read and ask whatever questions you may have, someone is bound to answer. You can't find a better group to support your endeavors...
Learn as much as you can about a specific method of investing and stick with it.
Clif
exellent story!! I am currently in the process of rehabbing my 2nd house, and unfortunatly, haven't sold the first house i did yet:(
I've read the conti & finkel book "multiple streams of income" (free from a RE convention)and found it very informative. I would like to learn alot more and give it a try.
do you recommend ron legrandes course? which course did you find to be the best?
thanks,
Rich
I would be interested in learning your lease purchase techniques for the newbie investor with very little cash and bad credit
Dug this article out of the archives
Tear drop..
Inspiration. I'm working soo hard. This is just what I needed.