
|

|
Questions & Answers About Real Estate Investing:
Q: I work 60 hours a week, how can I get started as a real estate investor?
Q: What if I am nervous about having to deal face-to-face with sellers?
Q: When should I start to accumulate rentals?
Q: How can I really enter into this business with so much competition?
Q: How can I motivate my friends and spouse to be supportive?
Q: Is your course really that different from other stuff that I have?
Q: I need to make money by next Thursday. Will this work for me?
Q: Dave, How much money do I need to start in this business?
Q: Dave, what is your return policy?
Q: I can't get loans! Is this business something that I can do?
Q: Am I going to have to do stuff that is going to make me feel stupid?
Q: Dave, is my market saturated with your course?
Q: How do you ship the course? How long will it take to reach me?
Q: Why is this course more expensive than other courses I have seen?
Q: Dave, I am in a very expensive market. Will this work for me?
Q: Dave, I heard that you only buy X type of property. Is that true?
Q: Is it true that real estate investors have better golf games?
 |
I work 60 hours a week, how can I really get started as a real estate investor?

|
 |
This is a very common question. It seems that we have less time to get everything done in our lives, and the thought of adding anything else can be overwhelming. When I started as a real estate investor, I owned and ran a growing real estate law practice. My partner and I worked a minimum of 60 hours a week. We had a ton of stress, and I felt like I never had a chance to see my wife, or enjoy my life because of my work.
I decided that my options were to keep doing what I was doing, and lead this hectic lifestyle for the next 30 years, or do something about it and follow my dream to be a full-time real estate investor, which I had held for years and years.
I determined that the only time I had was about 2 hours on Saturday, and 2 hours on Sunday. I made it a point to block out this time to work on my real estate investing career. I drove neighborhoods, learned market values, and soon began to make offers, and acquire real estate.
Eventually, I was able to walk away from my law practice, and lead the life I always dreamed of. I definitely do not work 60 hours a week now EVER. If you are challenged on time, you must devote whatever time you can, on a regular basis, to get started. Even if that is only 2 hours a week, just do it. The other thing to do is examine how you spend your time currently. When I was getting started, I noticed that I was watching an hour of TV per day, or 7 hours per week. I gave up TV and found the extra time to launch my real estate investing career.
The point is that you can get started with little or no free time. Just devote a small amount of time each week. Make this time an appointment that you MUST keep, and you will succeed. Eventually, you can dump the job or career that is eating up your time, and have a better lifestyle if that is your goal.


Top of Page
|
 |
I have always been nervous about having to deal face-to-face with sellers. It is keeping me from really taking action. Help!

|
 |
It is common to feel a little nervous when you are talking to sellers for the first time. This is how we grow, doing things that make us uncomfortable. Eventually, it becomes easy. You just have to go through a few of these face-to face meetings before it becomes old hat to you. There are a few tips and tricks that can help you:
1) Don't believe for a minute that you have to cold call --
I never cold call on the telephone. I am much more a believer in marketing for real estate. I mail out my Magnetic Marketing Letters, and wait to be called by sellers. I have them leave a message, and call them back once I've had a chance to do a little homework on the property that I wrote them about.
2) If they call you, they want to talk to you --
Once they call you, they are really chasing you to do the deal. They have read your material, and feel comfortable enough with you to invite you into their homes to discuss the most valuable asset they own, their home.
3) Remember, these are people just like any others --
When you meet with sellers, remember that they are people with interests and hobbies, just like you. If you can find something that you have in common, from gardening, to living close by, to having kids, your job is easier.
4) Think of yourself as helping --
If you feel like you are going into their home to swindle steal their home from them, you will have a harder time. I think of myself as helping them. They know that I am not going to pay full price for the property, and that I am there to make a profit. In exchange, they get an easy quick closing, and the sum that they need to proceed with their future plans.
For more information, check out our free download on some real deals that we did. Also review our real estate articles for information on dealing with sellers. |
 |
When should I start to accumulate rentals? I don't have much if any extra money in the bank right now, and owning rentals makes me a little nervous.

|
 |
My advice differs from many gurus on this subject. I don't think that it is smart for people with limited financial resources to own rentals. Instead, they should focus on doing flips. Once you have money in the bank, that's the time to consider buying rentals.
A rental property is really like a new business. Each one will make money over the long haul, but they really are money losers for at least the first 24 months. The reason for this is that if you are buying a property for a cheap enough price to rent it out for a profit, the house is probably neglected. Unless you are putting a large amount down, a reasonable figure to hope for on single family homes is $150-$200 month positive cash flow. If you buy the property, paint it, pay 2 or 3 payments while fixing it up and renting it, update the appliances, and replace carpet and make other repairs, your $2,500 +/- of positive cash flow per year is really gone. If you have a serious repair, your cash flow may be eaten up for an additional 8-12 months.
There is no glory in having a huge net worth from rentals, but not having enough money to pay your light bill. In my opinion, and increasingly in the opinion of many lenders, you should have enough money in the bank to cover 6 months of expenses before you buy a rental property. That cushion will protect you from long term vacancies, an ugly eviction, or unexpected expenses.
When you do buy rentals, please take the time to consider what type of property you want to own. In other words, if you are not comfortable hanging out in economically depressed areas, you have to consider that, and look for properties in areas that you are comfortable with. You will be spending time at the properties showing them, doing minor repairs, or meeting contractors. As you slide down the economic ladder, you will have to collect more rents in person as well. |
 |
How can I really enter into this business with so much competition from other investors. What will set me apart from the pack in getting deals?

|
 |
When I am out in public, it seems that everyone is jumping into the real estate investor game. Thankfully, however, they seem to be jumping in the wrong way. 99% of the people are doing the same things, and looking for the same easy deals. It's like looking in a creek bed for a gold nugget and not turning over any rocks. You may find something on the surface, but you'll probably have to go a little deeper.
I have made it my philosophy to break out from the pack, and try to market my services as a buyer like any other professional would market his services. I believe that people want honesty, and fairness, which I deliver. There is so much real estate investing misinformation out there, with crazy no money down techniques and tactics that my approach will seem like a breath of fresh air to most sellers.
The other thing to remember is that as a real estate investor, you won't be doing 100 deals a year. You won't need to. Pick your deals so that you'll make $40,000 on each one, do five per year, and be in the top 2% of earners. Even if every investor out there was killing themselves to find deals, once they have made their quota, they will be done for the year. I have tossed aside many great deals that I was just too busy to handle. With more advanced marketing techniques, you will not face competition that will deny you the income that you desire.


Top of Page
|
 |
How can I motivate my friends and spouse to be supportive? I have tried various types of businesses, and I think they will scream if I announce that I want to become a real estate investor. Any suggestions would be appreciated.

|
 |
Hopefully, your friends and spouse will be supportive of your activities, but they may not be. As for your friends, I would not tell them your plans until you have actually gone out and successfully done a property. It's unfortunate, but people get nervous when those around them begin to strive and try to achieve. Perhaps it makes them feel bad about themselves, that they haven't worked harder on their dreams. In any event, such friends may try to hold you down or discourage you with totally irrelevant stories of people they knew that failed as investors, or "tease" you about your past failures.
I believe that you should always be honest with your spouse about your plans. If this is something important to you, you should tell your spouse what you want to accomplish, and why. Communicate your desire to spend more time with the family, and have more free time in general. Explain to them that your new career will only be part-time at first, and that it will not mean that you will shirk any of your duties around the house or at work. Tell your spouse that a marriage is a team, and that if you and your spouse could work together, this would mean a great deal to you. If your spouse can take on helping you in this business, perhaps you could take on a chore that is usually done by your spouse? The trade is well worth it. Once you have done a money-making deal, your spouse will be all over this business, but until then a little bribery never hurts.
Most spouses are threatened that your new activity will somehow affect them negatively. Find out what their concerns are, and reassure your spouse that this will not cause any harm to any aspect of your life, and may in fact be the start of a great new life for your family. |
 |
Hi Dave. I have purchased tons of courses on real estate investing over the years. I really don't want to spend more money, but I still am just not "getting" this business the way I want to. Is your course really that different from other stuff that I have?

|
 |
It absolutely is. I have bought almost every course out there (and continue to do so), so there is nothing that I have not read or been exposed to. I can thus tell you that my course is very different in process and content from what you probably have purchased in the past.
I have spent literally thousands (upon thousands!) of dollars on courses, and I do it to make sure that I am not missing anything that I can apply in buying and selling homes, and that you always have the best information possible. Education is a lifetime process, and I continue to try to gain education, both in written form and in the field to best serve my real estate business and hopefully yours!
I would also like to emphasize that I offer a full 12 month unconditional money back guarantee. If you don't like it, send it back for a refund. You risk nothing here. |
 |
Dave, How much money do I need to start in this business?

|
 |
As I have often said, money and credit make everything easier in real estate. The next level down is having money and no credit, or good credit and no money. No money and no credit is the hardest place (no surprise here) to start from.
If you have no cash, there are plenty of ways to get started in this business on a shoestring. That might mean that you substitute labor for the convenience of outsourcing your property marketing. I had a letter from a student some time back to wrote tons of handwritten letters to sellers to save money at .37 cents apiece. A person with money might hire out the printing of postcards of letters. When you have more time than money, you can use that time. The key is to use money that you can afford to invest, and do everything that you can to create a winning outcome. The other factor is that starting with no money will determine the types of properties that you invest in. For example, you are more likely to control a torn up wholesale type property than chase a million dollar mansion for your first deal.
I will tell you that this business is far cheaper to start, in my opinion than opening any other kind of business. You don't need overhead. You don't need employees or complicated SBA loans. If you are sincere about getting started, and currently have no money, all that you need is that first deal. After that you will have money, so many more opportunities will open up for you.


Top of Page
|
 |
Dave, what is your return policy?

|
 |
Return the course any time during the first year of ownership for a full refund. I am really taking all of the risk on this, and have designed my course to give you the best information possible that you can use to make money in real estate. |
 |
Dave, I can't get loans! Is this business something that I can do?

|
 |
First of all, I have spoken with so many students who said this. They were subsequently amazed that they COULD get a loan, that I can't count them on all of my fingers and all of my toes! Loan programs exist for almost everyone, including recently discharged bankruptcies! Hard money loans, as we detail in the course, are always out there. Those lenders are typically not so worried about your credit or a down payment, as long as you can bring them a good property, which we teach you how to do in the course.
Even if your credit is terrible, and my over 100 pages of credit improvement information could not help you, after your first deal you should have enough money to get a loan anyway. Lenders will almost always lend if you can put enough down. You can do that first deal with wholesale techniques and other items covered in our starting with no money section of the course. After that first deal, it is all downhill!
|
 |
Dave, am I going to have to do stuff that is going to make me feel stupid?

|
 |
I hope not! You will probably have to do some things that you have never done before, but we are NOT going to have you doing the stuff that most of those 1970's courses advise you to do that can and will make you feel embarrassed and foolish in the field. For example, I won't tell you to ask for the seller's car so that you can resell it for the downpayment money. (I actually made that offer early in my career. The seller said, "How am I going to leave the house if you have my car!?!" Good point…)
I am not interested in hypothetical weird stuff that you see in some courses, only teaching you what I know is effective and business like. Wherever possible, I give you scripts and detailed advice down to the last detail to give you every feeling of confidence that I can. (For example, ever heard of a real estate course detailing where to park, topics to talk about, what to wear, and whether to accept food or drink when meeting a seller? Mine does, as these details often make all the difference in landing tough deals.) |
 |
How do you ship the course? How long will it take to reach me?

|
 |
We ship via UPS. You will receive a tracking number by email, and most packages are delivered within 3-5 working days. |
 |
Dave, I am in a very expensive market. Will this work for me?

|
 |
The course works great in markets that are cheap and expensive. Working expensive markets is more fun, as you can often mark things up a little more and get away with it, as opposed to investing in cheaper properties. When I started investing in Atlanta, prices were fairly cheap. Now, prices for the ugliest houses have risen to far above what we used to sell completely renovated homes for. I now consider us to be an expensive market. Sellers are the same, and marketing works the same. Getting started in expensive markets is a little harder, but once the first deal is done you will be in perhaps a better position. |
 |
Dave, I heard that you only buy X type of property. Is that true?

|
 |
Probably not. I like to buy any type of property that I can make money on! We recently purchased a lake house to rehab, enjoy for a year and resell. I have purchased pretty houses and ugly houses. You name it, I've done it. I hear all kinds of things from prospective students about what they have heard that I like only this type of property, or that type of property. The truth is that I want your business to be as multi-dimensional as possible, so you will be looking at all types of properties. Plus, in your market you will probably have a type of property or seller group that I detail in my course. |
 |
Dave, is it true that real estate investors have better golf games than other people?

|
 |
No… :o) |
This is a wonderful business that utilizes our creative side, and can also make more money on several deals per year than 95% of the people in this country earn. My wife is excited about the properties, and it is rewarding to work as a team. She handles all the landscaping on the homes, and is a great person to discuss ideas and plans for the homes. This business will benefit your life in many ways, and I thank you for making us part of your process to get from where you are now to your investing goal.
 David Whisnant
Editor, Real Estate Investor, and Attorney
P.S. - If you're still not sure, click here to listen to this unique opportunity then sign up today for our Free Package, or Order The Advanced Course risk-free and prepare to be blown away at what you will learn!

|

|

|