All Forum Posts by: Dee Cee

@Kristi R. - I'm curious to know what others are saying. I've been at this (in theory) for about a 1+. In that time, I've paid a nominal fee to a local real estate investor's association for mentoring; obsessively listened to BP podcasts;  spent hours pouring over blogs; and spent hours more watching YouTube videos on investing...

 Despite all of my preparation, I don't feel prepared to flip (I am working on other types of deals, though) . It dawned on me a few months ago that I would never feel fully prepared; that's just the nature of some things. I'm a lawyer and I can tell you that no matter how many hours I've spent preparing for a hearing, I simply cannot anticipate every curve ball. If I tried to, I'd literally never take any cases for fear of the unknown. I think real estate may be a little like that and I recently decided to just jump in. I'm currently working with a realtor to find my first property to flip.

That being said, there seem to be a few types of calculations and things to keep in mind when flipping. It's been discussed on these boards ad nauseum. If you get a firm grasp of those things I think you'll be ok. But you won't know unless you try. Best of luck to you!

@Drew Dim - thanks for the breakdown. Makes total sense.

@Michael Quarles  - thank you so much for the clarification!  That was the most interesting part of the podcast and I panicked when I didn't understand it. Will look into this ASAP.

P.S. Fave quote "I'm not a passive income earner, I'm a massive income earner!" One for the books!

@Michael Quarles - Podcast 81 gave me some great information for presentation and possible content for my yellow letters. What was particularly brillant, though, was the information on how to capitalize on other peoples' use of bandit signs. Michael mentioned buying two numbers and getting a white page ad, but I was unclear on the directons as to how that can be linked to existing bandit signs that you did not post.  Any clarification would be super appreciated.

@Eldar Manetsh & @Aaron Wyssmann - I just finished listening to BP Podcast 081: Generating Real Estate Leads Through Direct Mail with Michael Quarles and that was awesome! You've got me curious now, so I will be sure to check out more of Michael's shows and #77 in particular

You guys bring up valid points and I will definitely take the feedback into consideration. I'm still learning, so open to any constructive feedback.

@Jeremy T. - What's your main approach?

@Benjamin Packard  - great advice. I may organize an outing with some of my friends to take a self-defense class. It could be useful for all of us!

@Amanda Sutherlin  - I don't currently do anything else, but as I said before, I never go alone.  IMHO, that's probably the best defense I currently (not that it's impossible to attack two people at once) have.

I actually read the comments section under a news story about the realtor and people had some good-sounding suggestions for realtors, such as yourself. Someone mentioned that they only show homes during open houses and they hire staff to work the event.  Another person mentioned that she had a reciprocal arrangement with another female realtor and they agreed to accompany each other to every showing.

@Corey Demuth - not exactly the same situation, but we'd be remiss to not start a conversation about how we, as real estate professionals generally, interact with people we don't know and in close quarters. And yes, it's 2014, but newer doesn't always equal better.  Just trying to gain insight into possible dangers I may have overlooked, or whether things generally go smoothly for others.

Thanks!

@Jeremy T. -  I appreciate your input as you never know what is going on in someone's mind. You don't sound that laidback, though.  But honestly, your reaction is my biggest fear.  I'm sure there is a nut job out there that would act on those impulses.

@Arlan Potter, @Jeremy T. - I have several real estate mentors and they all door knock at some point in the process. I'm sending out letters to homeowners that have a Lis Pendens for a foreclosure action filed against them. If no response, I select a few properties at random to follow up with door knocking. I can't speak to other areas/investors, but I know this has been a highly successful strategy for several investors that I've spoken with. I understand that everyone has their own way of doing things and I respect that. For the time being, that is the strategy I have chosen. That being said, I'm looking for constructive feedback from people that are actually doing the same to see if my fears are well-founded, or overblown.

@Tyrus Shivers - thanks for your insight; I'll definitely keep your experience in mind when weighing how to proceed.