cash flow experts and lines of credit

General Real Estate Investing
1

hello all, i am a new investor…working my way to my first deal…

does anyone have any reviews, heard of anything regarding cash flow experts. biz or have any input as to if this is a decent way to get unsecured lines of credit?

i have visited sooo many websites that offer help to “get your business growing” etc, usually charge at minimum $500 for their products…and i am just looking for a straight forward method of making my business grow. I don’t mind paying some price of course, because most things do cost, but after awhile, it just seems like somethings aren’t worth the money.

can someone please give me some input.

Thanks in advance and happy investing!!!

2

What type of investing are you looking for? I think you’ll have to have some of your own cash in most RE deals. Unless of course you can get a deal where it’s an owner finance/ no money down type situation. You’ll also want to have reserves set aside for the unexpected costs. As far as cash flow management is concerned, you’ll need to detrmine if the investment can stand on its own financially AND give you a profit. I personally don;t like the websites/programs that charge you for things that you can learn for free. Give some specific information on your stiuation we can give you specific advice. Good luck

3
i have visited sooo many websites that offer help to "get your business growing" etc, usually charge at minimum $500 for their products..and i am just looking for a straight forward method of making my business grow.

I can tell from your post that you already know the answer to this. There is no secret to getting your business growing, other than learning the business and WORKING HARD! All the other nonsense you are looking at is simply this “guru” or that “guru” who is indeed an expert - AN EXPERT AT SEPARATING NEWBIES FROM THEIR MONEY!

If someone is promising to do everything for you or is promising that you will get rich without a LOT of hard work; without any money; or with terrible credit - THEY’RE LYING! Unfortunately, that is not the reality in the real world.

Good Luck,

Mike

4

Investornewbie7 - why are you looking to grow your business if you haven’t even started yet? Aren’t you work on your first deal? I would focus all my attention on that first deal - read all you can about it, do your analysis, etc… Once you do your 1st one, and stabilize it, then it would probably be time for growing your business.

This is my approach right now. I am looking for my first deal. I am focusing only on things that will help me get there:

1 - I am researching how to open an LLC - I want to have it ready for my first deal.
2 - I am working with my wife to reduce our monthly expenses in order to have more money saved up.
3 - I am activating my real estate license on July 1st - already found a broker that will hire me.
4 - I created a spreadsheet that will help me analyze my first deal - I can change assumptions like % for down payment (from 0% to 100%); interest rate for the mortgage; term of the mortgage; $ for rehabing; estimated rental; etc. The spreadsheet helps me calculate my estimated cash flow and ROI.
5 - My wife and I drove around some of the neighborhoods that we believe we want to buy - close to hospitals and/or universities. We believe this will help find good tenants - we are even considering maybe do a furnished rental (following furnishedowner’s tips).
6 - Started putting together a business plan - simple one that I can show prospective lenders and will help us stay focused.

So in short my suggestion - focus all your attention on your first deal. Then I suggest you think about how to grow your business.

Just my 2cents… Good luck! Please keep us posted.

By the way - I am new to this thing also. I haven’t done my first deal yet… So take my advice with a grain of salt… :O)

5

Hello all,

And thanks so much for your advice…and you are all right…i do need to get my first deal done…duh! And, NO i don’t need to spend money on something i can get for free… I guess I am just jumping the gun a little. I am just soo ready to do SOMETHING but fear has got me stuck…which strategy to use, am i going to find the right matches of sellers/buyers…where do i start…all those questions…but i did take some action to “settle my mind”

yesterday i started collecting possible buyers (rent to own-lease options) but now what?? i now need to find properties that fit the criteria and so on and go from there, so that’s my next step but on that too, which avenue do i take?

My business right now is a dba, so yeah, my money is connected to my business, but I haven’t made anything yet, so for me this is the cheapest way to “have a business with a name”…

so in using that, i have a website set up, with an 800. on my website i have a mailing list sign up which has gotten me last i checked 4 inquiries within 6 hours, which for me is awesome…because it shows that it does in fact work and gives me some motivation. :biggrin

So, now i am am working on locating properties…so

does anyone have any suggestions as to where to start this process?? should i do the public record venue? drive around my city to see what’s available? there is a fsbo sign posted down the street, and i am just wondering…

what do i say to the seller??

and most of the houses for sale have the realtor listed so should i shy away from those or…what?

i will be attending my local investors meeting this thursday so what should i bring up there??

I am sorry to be all over the place, but these are the things running around in my head…and sittin here at work is making me more anxious to do this, because I HATE THIS PLACE. :evil

thanks again to those that have replied thus far and to those that hopefully will have even more input.

6

Since it sounds like you’re starting at square one, I would suggest buying the Carleton Sheets course. It is an excellent beginner’s course and covers everything from A to Z in a well thought out format. You could buy it on e-bay cheap if you don’t want to spring for a new one.

While you’re waiting for the Carleton Sheets course to arrive in the mail, I would suggest spending hours and hours reading the archives on this forum (use the search button) as well as the current threads. The sad truth is that the VAST MAJORITY of newbies in this business fail in a short period of time. You can’t afford to follow in their footsteps, so you must understand this business before you buy anything.

When you go to your REIA meeting, your priority should be to meet and make friends with the SUCCESSFUL investors in your area. If you’re planning to sell on lease-option, then you need to make friends with the landlords, because you will be a landlord.

Don’t spend your money on anything else until you’ve educated yourself a little. You certainly don’t need an 800 number for a local rental property business, nor is a website a priority.

Good Luck,

Mike

7

Since Propertymanager is too modest to plug his own book, I’LL DO IT FOR HIM!! :biggrin. Seriously though, his book is a must read. It gives you a look at BOTH good and bad aspects of RE investing. Just click on the link at the bottom of his post… There are some other good books that give you a good start.

  1. “The Millionare Real Estate Investor”, by Gary Keller ($20)
  2. “The ABC’s of Real Estate Investing” by Ken MKelroy ($20).
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thanks to both of you…lol phlemboy for putting his book out there! and the other ones as well. i will def. check them all out.

propertymanager-I did check out mr sheets’ course but at that time guess i wasn’t ready for it…is it up to date as to current ideas on creative re? i have been reading articles and books for almost 6 months now, also got the “intellibiz” software which explained a vast majority of ideas on what to do, and how…but after so much reading i just feel the need to get my feet wet some, you know? I am going to do more reading of course, just to keep myself familiarized with the lingo and such…there is a mentorship program happening here soon, and after researching that, then hopefully i will be on my way…thanks soo much for your input. where are you located anyway?

and the reason for the 800 number/website is to attract as many ppl as possible for buyers esp. or investors…AND for me to feel as if i am actually runnin a business…it helps to some degree. :cool

9

Investornewbie 7,

Read the “Overcoming Fear” post. You are not alone.

Furnishedowner

10

Just want to thank everyone for their input. tonight is my first investors meeting so i am sooo looking forward to meeting some seasoned investors finally! yeee haaaaa!!!

Thanks again, everyone…i truly appreciate it.

j