Malissa Has a Real Estate Challenge… Can You Help? 77


I have been watching your posts and reading your
emails. You think I’m too busy to do that, but I’m
not. I make it a priority to read as many as humanly
possible because I know you are crying out for help
and looking for direction in the world of real estate
investing.

I’m doing something today that is a bit different. You see, I’m
posting an email from Malissa (actually spells her name that
way too) from Austin, TX.

Malissa has some questions that I am interested in YOUR FEEDBACK to help her combined with mine. I thought you could encourage her a bit and it might just make her day. Plus you would be a servant to her and she would greatly appreciate it. I just know it.

So here is what we’re going to do.

I want you to read this email and leave Malissa your candid and positive responses on helping her get on track and get a new perspective. Be encouraging, but be real too… cool?


Thanks again for serving Malissa.

Dear Cory,

I am one of those people who have been at the same job almost 13 years and don’t want a J.O .B.

I have such a passion for real estate but not sure that i would want to become an agent. Seriously considering it at this point. I’d much rather just be an investor.

I have spent lots of time reading Robert Kyosaki and many others like him. I have gone to his training seminars and love everything about the business. I tried my best not to miss any of Than Merrills Flip that House shows….along with any others I could watch. My inbox is full of invites from investors to conference calls and I try to listen in as often as possible. There is always a product to buy, which I understand and believe in. I dong always buy though.

Even with all of this book knowledge I still don’t know how to start taking action.

If anyone asks what my favorite past time or what do I like to do to relax…. I would have to answer “driving neighborhoods and stopping to look at every for sale home on the way” I know there has got to be some way I can use that to my advantage. I think I know a good deal when I see one.

I assume you are using investing in some way as your career.

Would you mind sharing?

I live in Austin. I see so many good deals. I’ve only lived here a year, so I have barely scratched the surface. I just bought my own personal home. So that was my first time to go through the process. My husband freaked out about every little mishap, but I knew what to expect and I loved it.

Thank you so much for your time Cory!!

Malissa


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77 thoughts on “Malissa Has a Real Estate Challenge… Can You Help?

  • Chan

    Hi Malissa,
    I'm having in the same shoes as you are. I'm passion for R.E. investing and approach to the learning is identical. You have the advantage and there as I've been disabled since 2007 and have nothing for start up capital. The books, seminars, there are knowledge is good but not tell you everything. We need to be in the trenches with an active successful investor because the rules of this game change so fast it's hard to keep up. I would highly suggest your next step to get a Mentor or someone who will guide line you steps by steps.

    All the best,

    Chan

  • sheribmcbride

    Hi girls. I have a small mentoring business and have been an investor for 25 years. I have 2 students right now in TX. Let me know if you are interested. The buddy program is a great idea! Learn together. Sheri

  • Tammay

    Hey Melissa, here are a couple of steps you may want to follow; but since your in the presents of Cory your in good hands. Cory is the way to go!

    1. The first step is to get a mentor who has been making money for at least 7yrs. You will find one at your local REIA.

    2. If you take time to listen to a webinar; purchase the products it's worth it, pick one because they all work together. You will have chance to purchase them all. That's a good way of staying informed of the new trends .

    3. Take action and Go for the No! Expect to hear at least 100 no's before you have your first deal. But when you “Go for the no “you will get the yes.

    Stay Blessed,
    Tammay

  • D Gleason

    Malissa,
    You have picked the very best time to get involved in real estate and you have done some things to get a great start. You have listened to many peoples' webinars and maybe have purchased some products. Driving the neighborhoods is a great way to get first-hand knowledge of your farm area. Now, I might suggest, you select what has caught your attention the most and who do you identify with the most? These are critical issues to narrow your focus and really establish a business and not just an hobby. You need to set up a business entity. Your are in Texas, as I am, so you can go to the State of Texas website to get the information necessary to establish your entity. January 2010, changed the location for reporting to the state, so go to the state website and pick the correct office. Now, you need to establish the type of identity to protect you assests, tax reduction, and applying for business credit. I would suggest that you not do all of this by yourself and get some good qualified advice. You will probably want to select an LLC for wholesaling and one for buy and hold, because of tax consequences. (NOTE: I AM NOT AN ATTORNEY-SEEK QUALIFIED ADVISE). I am just trying to give you an heads-up to get started. You may want to look into a Series LLC; however, there may be questions about establishing business credit with them, since they are so new and all states have not have accepted the use of them; should you decide to invest out of state. Select your business name. There is a number available with the state where you can call to check availability, before filing your identity name. You need to have 3 names available when submitting your names. It is first come, first serve. Then while you are doing your paperwork, start networking in your local area. Introduce yourself to the local REIA. You will be able to get many names of other investors and people to build your team. Go to Facebook and friend Cory Boatright and a couple others you would like to follow. Go to twitter and do the same. Really start networking with the people in the area(s) you would like to specialize. Start in your own area and then you can expand to other cities or states as you become more proficient. Hope this helps. Darlene Gleason

  • Collins

    The Masters are out there. When the student is ready, he will contact one of the masters & get to work. ; )

  • Joseph

    Dear Malissa;
    As far as I can see you are doing the right things. You have some doubts as most of us do in this ever changing enviornment. You are reaching out to the people who are teaching and navagating these changing waters. You are very intelligent because you understand that there are things you don't know and attempting to obtain the help you need. You will do fine. None of us are mistake free. We learn more from our mistakes than from our successes.
    Joseph

  • Rosanne Cellini

    Hello Evagirl,
    I don’t have cash buyers specifically in East vallies of AZ but that does not mean someone would not be interested on my investor list. Why don’t you email me at rcellini@gmail.com and tell me about the deal so I can see what we can do.
    Rosanne

  • Sue

    Malissa as a new investor, having a mentor to coach you along the way and help answer questions that come up as you move through real estate leads day to day is so crucial. I enjoy real estate investing as well however I do find myself frustrated from time to time because I can only pursue this on a part time basis because I too have a full time JOB. I think I am getting part time results as well and that is why it seems to be taking longer to get a deal done.

  • Thesolutionsgroup

    Malissa, You are precious. You have the enthusiasm of a child and the discipline of an athlete. These 2 qualities are found in your heart and in your character. Both are of great value. What you think you lack, is already in your hand.

    It is your desire to learn. All good growth comes from starting, starting something you have never done before, starting something before all the pieces are clearly seen, Starting with victory in mind , but most only believe it is only available for others.

    Here is what I think. I believe in a God who wants us to prosper, who has told us “ For I know the plans I have for you, plans that will not harm you, Plans for a good and expected end ”.

    This same God, has also told us that he has provided everything we need for Life both here and in Heaven; He tells us to Ask, To Seek and To Knock. When we fall down, to get up. To expect blessings and pursue them; To recognize that we will meet resistance but guidance is available at every decision point. That He will neither leave us nor forsake us, that help will come if we ask for it.

    He has told us that if the Promised Land we seek is on the other side of the river, we must get our feet wet. Effort is a key ingredient in success.

    Malissa, as you see, I believe in God and am constantly looking for guidance from both God and Man. I believe Cory does, as well. When we do this, it brings blessings in many ways, including our real estate transactions and our relationships.

    I believe a good real estate career can only be stable if we build it, by building healthy relationships. This means we must acknowledge the importance of partners. We must choose who to use, who to avoid, who to learn from and who to trust. This will effort.

    We can’t all be bankers, realtors, attorneys, trainers, consultants or hard money lenders; But God has put each of us in an assigned territory. We are all given 2 eyes, 2 ears and one mouth; We are to take in more that we put back out. But through the power of your mind, you can bless many from what you hear and see, from where you are.

    You can bless others and yourself financially by telling others what has value , from where you are. And you need not wait for any other courses or events. You are ready. Now.

    You can be the ground troops that do recon to bird dog great opportunities for a team of other professionals. If you see clearly, and present what you hear and see precisely, you will be able to attract team members who will complete the deal. They will mentor you and be happy to do it. You can be the springboard for changing lives far beyond the borders of your town.

    But the starting point is to step out of the boat; Get your feet wet.
    Establish a plan to pursue one deal within the next 2 weeks. Consider yourself as the quarterback for a small team that will win a touchdown. You may pass the ball to someone who knows short-sales; You may pass the ball to someone who brings hard money to the table, or someone who has a commercial buyer in the wings. The “who” is not important, what is important is that you decide. Decide to get your feet wet. Decide to do it now. Decide that touchdowns don’t happen on the first play or every play. Decide that you can attract good partners and enjoy good teamwork based on who you already are, and what you already know. You must choose to be successful. It is a process that gets easier, once you step out in faith. God believes you can do it. So do I.

    Your brother in training Timothy Gidman

  • C2j2

    Hi Malissa, my name is Carol. Like you I have just signed up for Cory's course. I love real estate! I've been fooling around with it for years (I'm older than dirt!). I have been down the road you have been following – tried various courses, most of which are preaching systems which are now against the new laws – due to so many people using faudulent practices and fleecing the sellers. I can truthfully say I have never done that. I always ask the people caught in foreclosure, “Other than selling your house, what do you really need.” Some times it is just to get out from under the payments – nothing else; and sometimes the guy will say: If I had $800. dollars I'd be out of here today –or All I need is $1,000 to move my stuff. I always give them what they ask, if I can, or $500 to $800 cash. They leave without resentment and telling their neighbors how I cheated them. But to do many of the deals the Guru's recommend, I think one needs some experience in Real Estate. ……so why am I signing up for the course? (I have a whole bookshelf full of books that I know by heart). Because, if these guys have it
    worked out with a worthwhile system, I won't have to reinvent the wheel !
    There are probably a hundred ways to buy and sell real estate – but I believe that those are the old ways. I get a “special – hurry-up offer” every day. One of these bright fellows undoubtedly has the online bugs worked out.
    Possibly we have found the correct one. Ya think?
    The hardest part is just to get started. The safest way is probably to go to
    real estate school and get licensed. At least then, you know the correct way tto sell and that gives you confidence that you won't be fined or go to jail or something.
    I've never been able to stay out of real estate, tho what I really do, I'm a
    Registered Investment Advisor. (since 1980) Licensed by the State, the SEC, insurance licensed, Real Estate Broker,( since 1973) and I just let my mortgage license expire , so my next step is a business on line.
    Jump in! Good luck,
    Carol

  • Bob Schleicher

    Aloha Malissa,
    I suggest you start by talking to some friendly real estate agents and let them know you are interested in investing. They will probably ask you what amount you want to spend and how you want to do your business, ie rehab, flip, buy rental properties, or what. You may have to talk to several to find one that will be helpful. Then ask that agent to start sending you properties that might be appropriate. I have done 4 deals so far, one is a rental and I have about $400/month positive cash flow, plus the value has increased about 15% in the year I have owned it. This was short sale and my agent did all the work for me. The renter was already in it. It was a cash sale, using my home equity from the house I am living in. My agent showed us another house, said it is the best he has seen, well cared for, ready for a retail buyer. It was a bank owned home, nobody in it, very nice community, etc. Price was ok and we had enough capital left to buy it. Immediately after the purchase I asked the agent if he wanted to sell it again, and of course he was very willing. Paid 85k for it as well, and first offer came in within 2 weeks, buyers lender had a problem with seasoning, so got another for more than asking price, closed within couple weeks, for cash. Then I had capital I could work with. Had trouble finding another good house so went to auction, bought one for 96k, sold it within 4 weeks for 113k. Auction worked best for us except had to have cash to do it. Could take immediate possession and begin selling house. Trick for me seemed to be the good agent with high motivation and who really knew the area.
    Interviewing agents is free, no commitment, a “safe zone” for us newbies. Am now doing some work on my 4th house, expect it to be on MLS within 10 days.
    You can do lots of agent research online as well as looking at areas with homes you can afford. You might look at private lenders for financing, but it is expensive. Cory has lots of great resources. I used Foreclosure Radar to find homes that were REOs, foreclosusres, and get a handle on prices in areas. Trulia, Zillow, cyberhomes, all have good area prices for recently owned homes in a particular area. REO Miner is another good one. I listen to lots of webinars, spent money on courses and programs, but big thing is to do your reasearch, find an agent who can do most of the footwork for you, build a good buyers list, and feed them houses. You already know all that. Sorry to be so long winded, but it has been a very educational trip for me and my assistants working in the Phoenix area.
    Bob Schleicher,
    Honolulu, Hi

  • eva ang

    Hi Rosanne,
    I saw your post here to Malissa and was wondering if you happen to know any cash buyers out here in East vallies of Az? I am scouring to get my 1st deal done, and want to have a solid list of buyers…or do you know anyone interested in props out here?

  • DeLawrence

    Hi Malissa,

    I am an investor in the Hampton Roads and Tidewater Area of Virgina. I started in real estate about 7 years ago and had the same feeling you have now. I had a full time J.O.B that I actually enjoyed but my desire was to work for myself. I saw Real Estate as my way out …. I have a long story but I'm going to make it short.

    One day out of no where I was released from my job. I could not believe it. Because I was now jobless I put all of my energy into Real Estate. I guess you can say I was forced into doing it full time.

    What I suggest for you is to start contacting the owners for these houses that you find. Make sure that your numbers are good and make offers. I've read most of the comments on this page. Everyone has great advice. Real Estate is a numbers game. You must know your numbers and you have to make as many offers as possible to make money on a consistent basis.

    That's the short and sweet version. There is much more to learn I guess that's why people write books and have seminars. Hopes this helps out.

    Happy Investing

  • George

    Hi Malissa
    There's never going to be a great time like this in America. The entire country is for sale and you must grab your shares in the Real Estate Investments. Don't get your feet wet, jump in & enjoy the swim.
    With professional guidance, all you need is a DEAL to get going.
    I am swimming already and it's share blessing.

  • Jeff guido

    keep a daily log. or better yet a “things to do list” write down 5 things your going to do today for real estate. examle: 1. look in the want ads for distressed sellers, key words '”below market” “seller financing” etc 2. call them! find out: WHY they're selling WHAT they think it's WORTH how much they OWE what would they ACCEPT. negotiate for terms & price. your price-their terms. their price-your terms. make 3 calls a day 3 times a week , you'll find a deal 3. attend local REI clubs, get to know the players, who buys for cash, start to build your team 4. use the web, county property assesors office research property history 5. believe in yourself. know that it wil happen & it will

  • Mary Pautz

    I wo uld strongly recommend you find a mentor. Even the most successful people have mentors. There is continued learning and growth in this industry and you will want to position yourself with someone that can help you along the way. Another suggestion would be to choose a niche. Do you want to wholesale, rehab, offer lease options, buy and hold? Start out with one niche and see what you enjoy or works best for you and build from there. Hope that helps. Good luck to you! Mary

  • Kevin Shipp

    Malissa,

    Just like most things in life that are worth a grain of salt, this will take work, perserverance, and trust. Any person that has ever taken a risk in their life knows that there are huge rewards and also there can be heartache and disappointment.

    The question is are you going to let those obstacles' be a hinderance to your goals or a motivating factor to help you succeed. Anyone can move through life and look back and wonder what could have been, its those that take action that change the world and build a legacy..

  • Cory Boatright

    Sheri

    It's true if you don't make any offers you won't make any money in this business, but I think Malissa needs to go to a REIA meeting or two to learn some more information on the investing side. I also agree to have an “escape clause” which can be “Subject to satisfactory inspection” in the Additional Provisions section of the contract.

    Thanks Sheri!

  • Isanty

    Hello Malissa you are not alone in your quest i call mine my lifes journey it is like a book you can change the out come or just allow it to happen on its own and it it not happening by chance we all have a path a perfect one and we get to choose the challenge is we do not know that we do not know what we realy want if we never had it we can only imagine how that feels you did answer one of your own questions you said you just wanted to be a realestae invester and not a realtor that is a starting point can you clarify what you are looking to accomplish some things look simple and even when we have the knowledge we just sit on our hands and do nothing and wish it would just happen i recently had a wake up call in my life as well and found that there has to be a purpose or it is just not as important to accomplish as it should be you can have what you want you have most of the pieces in front of you the rest will show up when you move in that direction it is a god given gift make your plan where do you want to be or what do you want to have i know you have heard so mayn people say just write it down that is part of it you do have to keep score as to your effortes to get there it is like keeping score how do you know if your team wins if you do not know the score a must have piece write your plan make it simple title top of page i begin and on the bottom of the page completed fill in the gap stare with love because love is the most powerful tool to move you forwared with purpose every day when you wake up ask your self what do i want to complete to day write it down you will have to do it every day it will allow your mind to find the answer what ever the mind can concieve the body will achieve hold true att night close your eyes 15-20 minutes befor you go to sleep and see your self where you want to be and ask the universe prayer meditation but ask share your world and let the world share with you you know what you want now ask move forward and recieve each time you write it down every day even when you think you see nothing new in the beginning it its just opening you mind so write it down every new piece will start to get you to closer to completing the puzzle one goal at a time if you have to many choices you just confuse the process if you must chose write them all down and chose only one to work with and complete it one at a time and keep focused on the main plan know what the end looks like and go make it happen on purpose to day it is show time From Isaac

  • rissakc

    Hi Malissa,
    There is some great info in these comments for you, and you CAN DO IT. I've been doing this for over 30 yrs, can't get enough of it Still! We have a free mentoring website you can join, in addition to the other great suggestions, everything helps. I don't think this lets me put my site in this post, but you can google “keystonecrew” and we should be the top one there. Maybe this will post the site on my contact info. Cory is great, you should definitely friend him on Facebook & Twitter, & listen in on the webinars(you don't need to buy everything even though you will want to), there's some great free info, & listening & studying these mentors online will help you decide whose programs to go with when you get to that point.

  • Owendixon51

    you don't swimm if you don't jump in the water. so jump in if you can;t swimm you start waving your arms and you make it to shore, so if you are not sure of what you are doing find some one that knows and ask step by step but you won;t need to do that because you already have a lot of knowlage don't think aadout all those seminar's they're only out to get youmoney that;s now they becomme rich if you get 3 thousand people @2 thousand per person you do the math and what eer don't stop doing what your doing, be encourage and pray

  • Parealestateguy

    Hi Malissa

    I guess you and I are in the same boat. I've bee to many training events, trainings and I've done the books, drove the neighborhoods… and still no progress, no profit, I can attribute most of my lack of success to fear, plain and simple. If I stay stuck in the fear, I don't DO anything. So what I have begun to do is take action. Do something– anything ! As long as I am moving forward, something will come out of that. I leave myself an escape door in case things don't work out, do my due diligence and make offers! I read that if you aren't ashamed by your offer, you've offered too much. Here in Philadelphia, I am always worried about looking in the wrong areas; that no one will want the deal; that I'm gonna get stuck in a deal that I don't have the money to do. So many “what ifs”. If I get out of my way and just do what I'm told, I will achieve success. So, if you get anything out of this , let it be: TAKE ACTION!!! I hope this helps in some small way and I wish you much success.

  • Maureen Otto

    I have been in Real Estate for over 20 years. We have recently opened an online real estate course for members at interactive-media-network.com. It is A-Z commercial and residential and we have monthly questions and answers. Hope to hear from you.

  • Rk750

    Hi Malissa! Let me introduce myself. I'm formally Richard ,you as a fan of Cory can refer to me as Dick. My thoughts are very close to yours. I get about 150 emails each day with all kinds of offers. 2 or 3 times a week I have to clean my hard drive they slow my computer down so much. Most don't give an opt out site. But their favorite phrase is “for those ready to act” we have reduced our Price from the $20,000 to $997 for those 10 ready to take action. I don't buy, my favorite word is FREE. You see they give you some much stuff that if you studied it you would never have time to find any deals.

    You”re right the webinars never give the street smarts so that you get a feel of your potential client. I only had one do an actual call with a real estate agent regarding a short sale deal.

    I could go on but I love real estate but my hands on goes back a number of years ago. Good luck and keep in touch invite me to you million dollar party.

  • Ken Paar

    Your story sounds almost like a carbon copy of mine. My high tech company, semiconductor equipment manufacturing, laid me off from my JOB in late Nov 08 so I decided then and there that I was going to remain self-employed and move into the B & I cash flow quadrant. I actually signed on with Rich Dad Education last February via the Wealth Institute Academy (now Tigrent Learning) based in Utah. I took 2 courses late last summer: (1) Wholesaling and (2) Advanced Foreclosure. I've never closed one wholesale deal yet, but I still have it as a part of my business plan. I'm JV partnering right now with a Northern California man (1 and 1/2 hr drive from Milpitas, CA) using DC Fawcett's VSSI/VIP program since my partner is a VIP Plus member (I'm acting as his realtor). We are targeting short sale luxury homes ($1M to $20M) in my local RE market (South Bay area Zip codes). My other business ventures include buyer's mandate for cash buyer of bulk REO tape in CA, direct sales (Evolv Health) and internet network marketing (SFI, GVO, Viral URL, etc.)

    Stacy Kellams lives and invests in the Austin area. He would also make a great mentor because he networks with Cory and DC Fawcett, among other RE investors/mentors. I'm currently working with Gabe Shirey, one of Cory's partners, to establish my business credit, but I'm having some difficulty meeting the basic requirements to obtain business credit. For investing in Texas, I'd look at Houston and then anywhere in Texas. You can contact Richard Barrett of RBS Homes for investing ideas and properties in the right Houston area zip codes.

    Your investing career begins with the proper mindset. If you haven't read the classic motivational book, 'Think and Grow Rich' by Napoleon Hill; I'd highly recommend it to you. Of course, I read the Bible on a daily basis to align my will with God the Father's will for my life.

    You can network with me also on social media sites like LinkedIn. Twitter and Facebook. My user name is Par Excellence or some minor variation of that on different sites.

    Ken Paar
    AKA Par Excellence

  • Pamela

    Hi Malissa,

    I understand your enthusiasm and passion, but feel that you may have some difficulty, as I have, with a spouse that is a Nay-Sayer who really does not understand all you do about Real Estate, and they won't join you in your search for personal financial freedom … I have a spouse that my J.O.B . (which, I feel means that I am “Just Over BROKE!” – is more secure than investing in Real Estate.

    Although you seem to have a good beginning foundation – by reading and driving, you really need to find a MENTOR to help you get in the game NOW. I would suggest that you find a local Real Estate Investment group in Austin, and attend their meetings – don't miss one and always be prepared with questions that are relevant to the business. Make people realize that you are SERIOUS and would like a little help with your first few transactions. When you do this, you will surround yourself with positive and productive people that have the same goals in life, and will have people to call for advice – even 10 years down the line.

    Go with your instincts … IF you would love to work with Real Estate, go for it, but do it right and get consistent help in your area.

    Best Wishes on your Success.

    Pamela

  • Ryan hard money lenders

    @thesolutions
    I guess the “who” is also very important because you have to choose the lender, who can understand your situation. What if you need quick funding and you dont have a good credit score? Can you imagine going to a conventional lender in this situation?