All Forum Posts by: Lee Syndergaard

Thank you all for your replies, truly!

The Realtor I'm working with has been a RE investor for about 20 years, has bought and sold many of her own properties, and, as far as I can tell so far (we're still getting to know each other), knows REI very well.

However, you're right, I should get to know the documents, negotiations and process better. Thanks for the homework assignment, I'm on it!

And advice on how to best tackle that education?

One thing comes to mind: buy my 1st property off an MLS listing she sends me (I analyze almost all of them using the BP calculator), have her walk me through the negotiation/purchase process start to finish. I'm willing to get a "base hit" on my 1st property in order to learn the ropes hands-on.

Any other thoughts?

Newbie here.

If I find an off-market property by, say, driving for dollars, am I wise to ask a real estate agent to help me through the offer, negotiation and purchase process? Pros and cons of that vs. trying it on my own?

Arg. It looks like I'm going to have to miss this one. Our little guy got signed up for baseball at the last minute and their first game is tonight. I can't, in good conscience, miss it.

That's two of your events in a row where I flaked! I owe you one. Or two.

Hi James,

I'll give James Wise a look on You Tube.

Although the REIAs will be a lot of tire kickers, I still want to get in front of people. You just never know who you'll meet who knows the guy who knows the guy who knows the lady who either needs my help and/or can assist me in my journey.

Thank you for the reply, I do appreciate it!

Lee

The book "The Power of Habit" talks about gamification as a way to stay on track with business, workouts, whatever. I commend you for taking action to reach a goal. Obviously gamification worked for you, so ignore the nay-sayers.

Next up: find a way (if you haven't already) to gamify REI (hey, that rhymes!). How many properties can you analyze each day/week/month? How many houses can you drive by in a drive-for-dollars campaign? How many offers can you make? Etc. Then, each month, go for a new "high score."

Go get 'em, Ibrahim!

Lee

I like "Let's Get Real or Let's Not Play" which is all about creating win-win situations where both parties benefit. It's a Stephen Covey spin-off.

I work in Edina, live in Mound/Minnetrista, looking to meet up with an individual, or a group, to talk all things real estate. I'm a newbie, soaking up info and education, and want to meet others who have the same energy and ambition. No sales pitches, just good conversation. And yes, I am keeping my eyes out for Meetups and REIAs. 

Thank you!!!

Who's your favorite hard money lender in the Twin Cities, MN? And why?

I'm soon meeting with an attorney who, according to the person who referred me to him, is well versed in real estate investing. As I've never yet had such a meeting:

How do I make the best use of our time? 

What should I come prepared with (business plan; list of questions; goals; etc.). 

What questions should I ask? 

What questions should I be prepared to answer? 

On a related note, for budget planning purposes, what do you pay your attorney?

I'm in the Minneapolis/St. Paul area, FYI.

Thank you!!!

“Be willing to sacrifice everything, but compromise nothing in your quest to be the best.” - Kobe Bryant

What we can all learn from Kobe‘s legendary life and career are in his 10 rules of success:

- Follow your passion

- Elevate others

- Find mentors

- Outwork everyone 

- Have a champion’s mentality

- Learn from failure, don’t fear failure

- Focus on winning

- Have patience

- Achieve greatness

- Inspire others to be great"