CS No Money Down - Posted by Troy

Posted by Tim H on December 11, 2001 at 14:13:30:

I also have listened to CS. I am ready to make some deals. Anybody want to network ideas?
Central Coast.

CS No Money Down - Posted by Troy

Posted by Troy on February 19, 2001 at 23:05:06:

I just received the no money down course on valentines day. I’ve already finished reading the course. Some areas I’ve gone over more than once. I think I’m ready to get out there and do something. Like it says in the handbook, it’s fear that is keeping me from going forward.

My credit sucks…but is steadily improving and I have a wife and 4 kids to care for. Not that I plan on quitting my job or anything. I’m just afraid of failure like most people are. It would calm my fears greatly if I knew there was someone in my area, or someone that I could correspond with to calm my nerves. Basically, I’m looking for a unselfish mentor.

So, if there is anyone in the Colorado Springs area or someone willing to correspond with me, it would be greatly appreciated.

My email address is: Tkmorgan@aol.com


Re: CS No Money Down (Honesty=No Fear)READ THIS! - Posted by Scott Milford

Posted by Scott Milford on February 28, 2001 at 22:47:06:

Hey gang, like many of you, I’m just getting started myself. I’ve come close many times in the past to pushing myself beyond the fear but only until last October (2000) have I been able to finally do so. In the hopes that this will make a difference for you all, I offer this advice: Be honest and be yourself.

Many times in the past I’d busy myself with all the activities that made me feel like I was a real estate investor…everything but the hard stuff (calling people, making contacts, and making mistakes). The reason for this was I had two misconceptions. One, I felt that I had to act like a professional investor in order to be taken seriously…you know, talk the talk. While there is nothing wrong with this, it was hard for me because I knew there was a lot I still didn’t know and so I avoided it. Two, if I was a big real estate tycoon, I could NOT make a mistake or otherwise make it known that I was a newbie pretending to know exactly what I was doing.

This is where I think a lot of people go wrong. Last fall, I decided I had had enough. I took a long hard look at what was stopping me. I decided that I’d just be honest with myself and others. I began telling realtors and sellers that I was looking to invest in my first investment property right up front, that way I could ask a question if I wasn’t sure about something. It was totally a freeing experience. I ended up finding a realtor who was very familiar with methods of creative financing and he said he could structure a deal and work around the fact that I had very little money to start with (no money, really).

As a result, I found that many realtors and people in general are happy to help you along. And if you find the ocassional one who isn’t, just move on. You don’t need them. Personally, I will be closing within a week on my first property (Large single family home converted to 3 apartments) which is occupied and will produce a positive monthly cashflow of $400.

Honesty is the best way to move past fear and learn more quickly. You can do it!! Good luck to you all. Feel free to email me if you want to talk more about just starting out and how to get past fear.


Re: CS No Money Down - Posted by eddie b.

Posted by eddie b. on February 25, 2001 at 21:12:47:

hi guys…reading your posts is like listening to my own thoughts.i bought the cs course about 6 weeks ago and have been thru it a couple of times already.but, as you all know, i am having a tough time actually jumping in.i’d like to keep in touch with you as a support group.maybe we can be the encouragement that we each need. i’m in central california. thanks

Re: CS No Money Down - Posted by Robin

Posted by Robin on February 20, 2001 at 11:38:51:

Me too! I am listening to the CD’s in my car wherever I go. I am half-way through the 12 CD’s (second time). I have been looking at the Sunday paper and there is a great real estate channel I watch. It gets me excited and I want to buy, but I am afraid I won’t know a good deal when I see one. I plan to go to open houses to increase my comfort level.

I live in Phoenix, but I thought I would let you know you are not alone. I believe this is a great opportunity. My fear lies in not qualifying or that I will forget something I learned as important in the course and it will cause me to go belly up since I am a beginner.


Re: CS No Money Down (Honesty=No Fear)READ THIS! - Posted by Kenny Bentley

Posted by Kenny Bentley on March 21, 2001 at 20:19:01:

Scott,your thoughts on fear where just what i needed to hear.I truly felt I was alone on this one and you said it for me.
I would like to thank you for your encouraging words and I will attempt to keep them in mind.Honesty is the best policy,especially when I’m dealing with me.
Email me sometime,I’m still a little shaky.

Re: CS No Money Down (Honesty=No Fear)READ THIS! - Posted by Judith

Posted by Judith on March 21, 2001 at 01:15:31:

Your message is very encouraging. Thanks for sharing your experience. Congratulations and best of luck with your first property!

Re: CS No Money Down (Honesty=No Fear)READ THIS! - Posted by Chad

Posted by Chad on March 15, 2001 at 23:12:07:

Just wanted to let you know your post was inspiring. I also am just beginning and just cant push myself over the edge to actually do it but I’ll try what you have mentioned. Thanks.

Re: CS No Money Down - Posted by M. Drabek

Posted by M. Drabek on February 22, 2001 at 01:53:57:

I can totally relate to you guys. I have the course I am not finished with it yet. I was looking through the newspaper and found a few adds that had motivated sellers and one that said flat out “no money down”. Although I haven’t finished the course I believe I have enough knowledge to start(I have read several other books on rei as well as the wealth of information on this site). However, I talked myself out of calling any of them. I kept telling myself I didn’t know enough about real estate yet. My biggest fear is that I’ll somehow screw something up and end up having to pay for it out of my pocket, which I can’t afford to do since I basically live paycheck to paycheck. I know I have to overcome these fears the problem is how.

Re: CS No Money Down - Posted by Troy

Posted by Troy on February 22, 2001 at 17:01:18:

I think a lot of us are facing the same fears. Robin and I have been emailing each other fairly often to keep track of each others progress. We also let each other know when we’ve learned something that may be beneficial to each of us. If you wish to join in our little adventure then you are more than welcome. So is anyone else who may have something to offer or needs support.

Re: CS No Money Down - Posted by Tyrone

Posted by Tyrone on February 26, 2001 at 07:46:24:

I have been reading all of your messages and I didn’t realize how many clones of myself were out there!
I have had the CS program for over a year and now I have relly got enough courage to try an endevor.
Although, I have a unique situation at hand. My mom-in-law has a duplex that she wants to get rid of and I have talked her into selling it to me and my wife. She wants me to write up a contract and have given me a copy of the appraisal. She has stated that she would sell the property to me for 20,000 below the appraised value. I have a gem in the hand, can someone give me some hints so I won’t drop the gem down the gutter!?
I would also like to get into your support group. Thx

Re: CS No Money Down - Posted by Stew

Posted by Stew on February 22, 2001 at 21:17:17:

I would like to join your little adventure if you don’t mind. I just purchased CS a few weeks ago and would like to share with others in their endeavors.

Re: CS No Money Down - Posted by Judith

Posted by Judith on March 21, 2001 at 01:32:32:

Hi Tyrone: it’s kind of fun to participate in a real life case study. Before you draw up the contract, you should figure out what yours and your mom’s needs are. Are you planning to live in one of the units in the duplex? Or do you want to keep it as a rental? Would your mom be upset if you flip it for a profit? You’ve got to come up with the terms before you can draw up the contract. How much does your mom need to be paid per month? How much can you afford to pay her and how much can you rent the duplex for? All these factors will impact the financing matrix. I’d be glad to help you with the number crunching aspect of the financing if you can be more specific. Think positive. You will not drop the gem in the gutter. You will take advantage of this excellent opportunity to get into real estate investing!

Re: CS No Money Down - Posted by Sandy

Posted by Sandy on February 27, 2001 at 12:45:37:

I’m a newbie but here goes. From reading all of the posts on this site there are two things you can do. Your mother (in-law) can hold the mortgage and you and your wife will pay her every month or you can buy the property and sell it at the same time with you buying it below market and selling it at FMV. You will walk away with a tidy profit and you and your wife can invest in what you want.

For the pros reading my advice, please comment for both our benefit.