Re: More Info - Posted by TRandle
Posted by TRandle on November 03, 2000 at 19:47:57:
Steve,
I’ll be happy to give some brief details of my experiences, but that’s not necessarily the path to take. Each person must figure that out on their own.
I found CREO in January 1999 while searching for a local REI club. In fact, for the early history, I would reference “Part-Time Newbie Having a Blast” in the success stories. We averaged a little less than one house a month after that initial push.
I used LOC’s, which I don’t recommend for the early stages. We’ve done wraps, assumptions, retail flips, subject to’s, L/O’s, a “trade”, lease purchase, and a L/O into a subject to. We haven’t done any double closes, wholesales, note sales, and still haven’t had a preforeclosure actually close, etc. These experiences lead us to keeping most of the properties and feeling unsure that we could actually receive a chunk of CASH, which we knew was critical to pay the bills once one of us went full-time.
In fact, my wife did a deal after last year’s CREO convention (finally on board, thanks Steph for the help!, maybe Kel will post it someday). I made a deal with Steph that I would quit as soon as I signed up two deals that I could sell for some change. We had wiped out our savings when we started REI, had traded in our paid-for vehicles for newer ones not too long before, and now had a six-figure lifestyle. I was ready to quit, but I had to have some cash to get to get started.
I’m a CPA and a financial analyst and, of course, have many of the traits for that field: analytical, detailed, decisions only after being fully informed, etc. So, my point is that we are NOWHERE near where that person would like us to be before I go full-time, but I also realized that acting against my natural tendencies has resulted in some of my best decisions over the last 18 months. Hope that helps…