Investing requires more than excitement!


Real Estate Investing is an exciting idea for many people who want to create a solid financially free life with freedom and flexibility.  The unfortunate part of the excitement is that most often the person or people thinking of becoming investors have no money.

A few weeks ago I met with 3 very smart young people who called me up, told me they had purchased and flipped 6 properties this past year.  I began to ask questions and just knew there was more to the story.  After 20+ years in this business of real estate and investing I've learned a thing or two and I was certain this story had more to it... I decided to schedule the appointment with the group to see how I could help guid them.  They arrived promptly to the appointment and settled in to our conversations. As they became comfortable they revealed the following facts for me to work with as a realtor.

1. We (none of us have a job)
2.  We don't have any money
3.  On the 6 properties that we did flip we made NET a cumulative total of 13,000.00 (to split 3 ways)
4.  Nobody was willing to loan these 3 anymore money to "flip"
5.  2 had no credit and 1 had excellent credit (reminder... no jobs)
6.  All were below the age of 24 years of age.
7.  All were students in college
8.  Each expressed how motivated they were and wanted to find a "good deal"
9.  They wanted me to find them "good deals" to wholesale to my clients that were qualified.. (keep this in mind, we'll discuss)

Upon uncovering the "facts" I explained that it was nearly impossible for them to become investors with the set of facts provided.  Keep in mind I'm a very creative person typically I can give a solution that has some possibility but given the above my solution was not received with any warmth of serious consideration.

MY SUGGESTION:

I explained that I do not as a business model offer "wholesale services".  When a person wants to wholesale a property they find the property for "under market value" and enter into an agreement with the seller to purchase the property, the buyer then assigns the contract for purchase to a qualified buyer asking for money in exchange for having secured the property.  (Could be 2K, 3K etc.... whatever they choose)

I suggest that you all get jobs, create a history of income.... well before I finished my suggestion they decided that I was just negative, was not wanting to earn my "commission"....

Misconception:  Realtors don't earn money helping you "wholesale", they earn money representing the buyers or the sellers (absent some other creative strategies that we are NOT discussing here.)

This situation made me laugh... Thought I'd share :-)

Fresh Start- Rebuild ....

Fresh Start

by

Tonja Demoff

An exciting series of 4 Books and training programs will be offered by the Virtual Consulting Group in San Antonio TX beginning in 2016.  Tonja Demoff is presenting this series along with 3 other programs.

1.  The Entrepreneurs Edge Training Program

2.  The Resilient Millionaire Training Program

3.  The CORE Training Program

Each of these programs  have been designed by Tonja Demoff from actual experiences in her own life, the lives of her business partners, experiences with clients and assistance from many professionals as well as friends and associates.  This program promises to be real, exciting, helpful and informative. 

Now that I've gotten the formality out of the way let's talk about this program and the benefit it can be to you and why.  Most people at one time or another feel that they are starting over, perhaps its from a divorce, the ending of a relationship, the changing of careers, termination of a job, loss of a loved one, foreclosure, bankruptcy or some other seemingly unpleasant experience.  The feeling of starting over can bring up many emotions from fear, hurt, frustration, anger, sadness, overwhelm, excitement and the list goes on.  

Fresh Start Training Program provides a system and a step by step process to take control of the situation, identify the issues that you face, implement a strategic and action oriented plan to move forward. 

 Fresh Start has a separate component for Wealth Rehab, designed specifically for those that are recovering from economic loss.

I, (Tonja Demoff) am going to share my personal transformative life events with you in a "let's get real approach".  If your ready to confront your situation, I'm ready to help you move through it 1 step at a time.

Registration for this event will begin in November, in the meantime get on our mailing list at www.virtualREconsulting.com, like us on FB, save this blog to your favorites and let's start thinking together about changing your situation for 2016.

Financing In Today's Real Estate Market

I'm often asked the question "do I qualify"?  My answer is most often ... It depends and then I go through a series of questions and call my trusted loan officer to get the answer.  What catches my attention about the question is that it is typically asked more as a statement and a disbelief because the person doesn't think it's possible that they do qualify, or they  have no idea what it takes to qualify to own there own home.

Here are a few questions to ask yourself in preparation for a pre-qualification conversation with a Loan Officer.

1.  Are you employed?  Typically you must have a job (there are some circumstances that will qualify a person for a home loan without employment).  How long have you been at your job?  If you changed Jobs recently are you doing the same or similar type of work that you were doing?
2.  What is your annual income before taxes- The lenders will use this number  to calculate what is known as your debt to income ration.
3.  Add up all of your monthly "minimum payments" for your debts.  This will be important in calculating the debt ratio's used to determine qualification.
4.  Do you pay or receive  any additional income such as child support? (have this number ready).
5.  Do you have a "side business", that you either claim income from or show losses on your tax returns?
6.  Know your credit score. Lenders will use your middle score as the number to qualify you so look at all three credit bureau scores and determine which is your high, middle and Low.
7.  Are there any derogatory comments on your report that do not belong to you?,that if removed would help raise your score.  Sometimes if you dispute an item it actually lowers your score instead of raising it.  Discuss this with your loan officer before you contact the credit bureau.
8.  Have you had any foreclosure, short sale, BK's or 30 day late payments? (just because you have had these doesn't mean you don't qualify, just be prepared to tell the loan officer when they were i.e. 7/2011 or 7 years ago etc...The more detail you can provide the better.
9.  How much money do you have for a down payment?  You can consider sources such as bank accounts, 401K, IRA, TSP, other retirement and investment sources.  If you don't have any money for a down payment do you have a person who will gift you the down payment?
10.  How much of a  monthly payment will you be comfortable with?
11.  If your a veteran  tell your loan officer as there are many state programs as well as the federal VA loan programs available to you.

www.qarealtygrouphomes.com

Resilient Millionaire "A Winning Mindset"

Tonja Demoff

Virtual Consulting Group, LLC a TX based company has the exclusive right to roll out the Resilient Millionaire Training Program.  I'm excited to offer this training in conjunction with The Virtual Consulting Group and via the Q & A Realty Group, Inc a California based real estate firm.  Our last real estate economic down turn left many people asking themselves "what the heck happened"? The questions are great, they allow us to reflect but they don't help us make changes. 

 To make significant changes in our "situations" we must change our thinking about the situation and take action.  Most people want to keep asking the questions "why did this happen", "what made me make that decision", "how could this happen to me", "how could I have been so stupid", OR they choose to blame someone for their poor choices and by the way most people only see poor choices when things go wrong, because when they go right it couldn't possible have been a "poor choice" or a "bad decision" because they are usually happy.

Resilient Millionaire Training focuses on taking responsibility for your choices, owning your decisions and seeing the world in a way that only you have the power to keep yourself down NOT anyone else!

 I know its hard to believe that you got into your situation because of your choices but it's true... really, nobody did it to you.  Sure you may have been hurt by the actions of others but you chose those people in your life and you interacted with them.  Yes you may have invested with them or bought a home, a car or loaned them money but REALLY... is it all their fault? 

 If you get real and examine what your part in the equation is you will see that you made choices and those choices were more significant than saying "yeah I got involved with blah, blah, blah" or "I'm a poor judge of character, a push over, I trusted them..."  Both of those perspectives are simply a way of excusing your own responsibility and it allows you blame someone else so you don't have to see yourself and your choices.

Rarely have I seen a person who has lost money not look to another to blame them.  Heck, an attorney, who was my law school contracts professor and my girlfriend at the time invested money to own part of my downline in a multi-level marketing endeavor, she even drafted the agreement for me and another investor and then claimed that I scammed her.  I think she forgot that she was the attorney. The company that we represented (Zeek Rewards) was determined months later to be a scam in itself and thousands of investors lost money.  Rondee, the attorney wanted her money back from me never thinking about the fact that we gave that money to others to invest so I didn't have it.  You see having the others invest helped build the downline, she never thought about me, just about getting her money back.  When I tried to discuss it with her the only mantra she repeated was "give me my money back" and wouldn't talk, she was so offended that I in her mind had scammed her".  

What happens in the mind of a person who experiences financial loss that often times doesn't allow them to see the "facts", calmly discus the situation that took place and work it out?  Everyone of us have "triggers"- financial issues get to the CORE  (another book/training program of mine) of our triggers and can elevate or devestate. 

The universe has a way of "cleaning house" in our life if we will allow it, be conscious of it and prepare ourselves for the dynamic effect of choosing a more conscious path.  The Resilient Millionaire Book is truly a must have in your arsenal of "mental must have strategies" to ensure that your mindset is prepared for the challenges most of us face in living life.

www.qarealtygrouphomes.com

www.tonjademoff.com

https://www.facebook.com/tonjademoffisamazing

Finding A Real Estate Agent

Finding a Good Realtor as  Buyer

How do you know the realtor will take care of you? Here are a few tips that will hopefully help you to think a bit differently when choosing a realtor.

1.  What are you looking to purchase? A home, an investment property that is a 1-4 unit residential, a commercial property or a 5+ Multi-family property.  Knowing your objective will help you to find an agent that has experience in dealing with the intricate details that will be beneficial to you. Once you determine your desires, goals and objectives then you can ask the agent a series of questions such as:

   a.  Have you sold properties of this type before?

   b.  If so how many have you sold?

   c.  How long have you been a real estate agent?

   d.  Do you have good loan resources you can refer me to?

   e.  How long have you worked with your loan officers?

   f.  What will you help me to accomplish in the process of my purchase?

A few basic questions will help you make sure your are dealing with a person who understand your needs.  There are many questions that won't help you if your agent isn't willing to be transparent so you will be required to use your intuition.  Feel out the person with your "gut", listen to the verbiage they use are they positive or negative.  Positive people use words like such as: "you can", "wonderful", "it's possible" and negative people use words and phrases such as "I doubt it", "time will tell", "if you say so...".  

The perspective taken by your agent is important because they will be representing you.  The agent you choose will be negotiating on your behalf to obtain the property you desire.  A suggestion is a positive agent for a positive experience.