Sub2 Not For Begginners???
1st. Johns course is highly reccommended and worth every dime,
2nd That sub2 is for the more exper. investor, one has their feet wet and is looking for something new to try.
It seems that somebody new like me with "no,zip,zero cash reserve on hand to cover the unexpected things is stepping in over his head,please tell me??
pktd1072,
Did you see the part about 24/7 email and you get my phone number, you find the deal you call me, you won't get over your head, period.
John $Cash$ Locke
Now sir,
I am going thru with this with your help, but reading the posts here in this forum I was just looking for the opinion of the ones who have tried and have not done well, or try to recieve the point of view from investors that stumbled and wish to explain what happened to them??? No money, no help, forgot to do something, any story that would only be something that we both , well me at least might learn from.
Now I am looking forward to your course, its in the mail now, and I in no way plan to back away from a good thing , but I will ask why others they think I should or why they did, only to learn from it , Sir , only to learn from it.
That Sir is my mission here to learn from both sides , I hope that explains the way this forum was phrased.
I wanted to hear from those people.
[ Edited by pktd1072 on Date 02/23/2004 ]
pktd...I have no cash reserves and just got laid-off from my job. I have til the end of March before my severance ends.
I'm not going to let that stop me from doing deals. (I make enough money to purchase signs and send mailngs) If I get someone that wants to do a deal and wants some cash down...I will look for a tenant buyer to supply that cash to the seller and I will pocket the rest.
I also market to homeowners that want to keep their home (I offer foreclosure workouts and charge a fee for doing so) I have helped 4 people in the last month and the money I make from that goes back into marketing. I have two possible sub2 deals in the works. One has to think it over plus get his son/tenant first. He wants $3500 up front to do the deal (but that will have to change when he is ready) I'm not giving him that much (maybe half and pay him the other half over a period of time (I will borrow the half that I give him)
The other guy has negative equity and wants out of his house bad (if I can make the numbers work I will offer him a modest amount to bind the offer...read John's Manual and you will know how modest
In real estate you have to be really creative and think outside of the box.
John Locke is very helpful and will help you in any way that he can.
take care....
Now dont get me wrong I plan to start with nothing ,becuase i've got nothing , but I do own my own truck, my own business sort to speak, enough to pay the bills and hopefully enough for B-cards and some small marketing, I hope and as you say ,... armed with John's course I will succeed ,....... I have to darn it I'm 40yrs old and got nothing.
Some say life starts at 40, well for me it does.
pktd1072,
I personally find it motivating to hear the success stories people have to tell. Inevitably you will make a mistake, hopefully not big enough you'll get in big trouble. Dont worry so much about the negative. Be confident, Be positve, Think Positve and positve things will come your way. Good Luck !
Rcummings,
Maybe I should have PM'd you about this, but that first deal that you mentioned. I think I have read others doing this, but
can't you said that the seller is looking for $3500 down. Can't you set up the purchase agreement where they will get their money in 30/60/90 days? So when you get a buyer in there, you use that down payment to pay the seller? That will eat into your end, but you will get it with ZERO down. You may even offer $4K for the wait period. If you get $5 or whatever from a buyer, you have got in with 0 out of pocket. Just my 2 cents