All Forum Posts by: Ljay Jones

1. every house needs something have you factored in you fix up cost at min you need paint and carpet.
2. your paying too much for it
3. you are contradicting yourself how can you have the seller carry back the mortgage if they want out?
4.What are you basing comps on , I mean who gave you this information, comp are what has sold not what is being listed FYI

The one thing I would say is you already know how to structure the deal, you just did a bad job of doing your numbers. I think if you keep doing numbers on properties you will be buying soon. The most important thing to do NEXT property evaluation is to remember is to buy at 60-70 percent ARV depending on how much you want to make and your market. I think you will be fine and are doing 100 percent better than most newbies however don't ask for a hard money lender, there is a forum with suggestion and at last resort google it, if you want somthing take your own will and find it yourself, I believe the only question in RE for newbies should only be is this a good deal or not. (after they have read and studied the proper amount.)

bump because somone asked me something side note, maybe this post was taken out of context because I read and see people who ask all the time I want to get into RE and after pring you for information they do nothing but ask more question.

My point is somewhere in your reading and question seeking you have to say screw it and DO. Now I feel reading a course of two and having a few friends as investors is all you need to start looking and if you have sumthing worthwhile you say "hey investor friends is this a deal" they will tell you. At that point you may be on your way.

My whole point in this was I don't like people sucking information from me and they do nothing with it, maybe you guys that give and give actually have people that DO, ,but that hasnt been who I've come across, I've seen mostly what iffers and "I-dont-want-to-stop-watchin-tv-to-make-this-happen-but-I-will-ask-you-20 question-to-give-myslef-an-excuse-later" kind of people

this doesnt sound like a thing of how it sounds like a thing of FEAR, so what are you scared of rejection?

The only thing I can tell you on rejection that may help was what my old sales/marketing boss used to tell us. (we did door to door) He told us when he went to the door he coulnd't WAIT to get a "no" out of the person he did his "pitch" to, the reason why is because the law of averages in our case (door to door) said for every 10 people we talk to 1 will say yes. So he couldnt wait to get 9 NO's because the next one would be the one "YES" HE NEEDED. Now this lady's house may not be for you but there are 9 other junkers that may be and one of those owner could provide that magic YES.

that why there are people called contractors...

http://www.google.com

Ok, if you feel that you can do a foreclosure in the state of Maryland the same way you can in another state you'll be in for a surprise. But since you feel you know more about foreclosures in Maryland than me be my guest rookie, I have experience in that avenue in RE you don't. The funny part about your whole post is do you even live in Maryland why do you even feel that conversation involved you?

What you first must understand is that RE has MANY streets and avenues in it. Meaning that I deal in pre foreclosures (an avenue in RE) and that is what I do and am good at. Some other avenues are a little foreign to me. Secondly I never said pre foreclosures are illegal in Maryland, I said you need to have a license. You need a license to drive however if you don’t have one you will go to jail, therefore not making driving illegal but doing it with the proper license can land you in the big house. Now for further clarification it's not a license per se but like I stated in that post there are strict guidelines. For doing pre foreclosures in the state of Maryland.

So in summary Yunghova knows pre foreclosures (and there is a difference between a pre foreclosures and a foreclosure) RE is a very wide industry there are investor who know lots about stuff like lease options/rehab/notes but know nothing about things like sub2's and wholesaling. That does not mean they cannot give advice on what they DO know.

Now for my rant on TonyS you have been a member of this forum since July and like you said yourself you are new and still getting info on RE, like some said on a post in this board anything past a month of studying your stuck and may never get the ball rolling. I understand you maybe frustrated because things aren’t going you way but scouting the site for abnormalities won't get you anywhere in RE, you time will be better used looking for deals not on what you feel are inconsistencies in post.

you have an email?

Thanks ryan will do

does any one have a valid skip tracing site that gives numbers???

I see why new investors hate newbie’s

If you're a newbie this post may be hard on you, but if you have wondered why investors seem to hate newbie's PLEASE don't think it's is because they don't want you taking up all the properties and running out of business. I look at message boards and attend a REIG meeting and I see these newbie all the time and I hear a few things constantly 1. a newbie asking WHAT IF question on EVERYTHING they seem to have read in the books, the most annoying are the what if's and have you questions like what if this breaks or have you found more lead in the MLS or in the paper? The fact is I do feel that these questions are stupid especially the later because there is nothing clear and cut in RE things and situations change one investors clam to fame may not work in the VERY next town over. The part about if something breaks the bottom line is if you can't afford to fix something if it breaks then having tenants is NOT for you…YET. There are other areas you should look into to build cash reserve. The second thing I see newbie's do is the life story type where a newbie's give you his/her life story about what they are doing in life and what they do and now there on hard times and they just have to make real estate work, now I'm sorry for your misfortune and I'm even sorrier if you've spent countless hours reading going to seminars and now you READY to do real estate but the simple fact is action speaks louder than words, so if you are spending all of your free time reading up on real estate your failing. You should be spending all of your free time talking to sellers and finding deals, that is the only way to get into real estate please have no one make you believe otherwise.

So to newbie’s I have a 10 step by step guide to getting started into real estate

The best part is it’s free

Step ONE

How many sellers have you contacted?

If the answer is zero please contact more sellers

Step TWO

How many motivated sellers have you contacted?

If the answer is zero please contact more sellers

That is it

WHAT???

You said there where 10 steps!!!

Yes I did however if you have not gone past these steps you don’t need more information cluttering you head up. So if you have done these steps and have completed them and need the other steps contact me and if I find you have done these steps you will get the others and they are free as well.