derrick
Screen Name: Derrick08
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Points: 69
Memphis, Tennessee
United States
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OFFLINE
My Details
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About Me
Born and raised in what turns out has to be one of the country's best places to be an investor right now-- Memphis, TN. Of course, prettty much everywhere is a great place to be an investor right now. After high school I attended both Xavier University of Louisiana and the University of Memphis where I earned a business degree and set out to set the world on fire. Well, not exactly. What really happened was I wound up working a slew of corporate jobs that I hoped would lead me to a place I thought I wanted to be at the time --the corporate fast track. Ugh!! Twice the money but 4x the responsibility trading hours for dollars ... what an illusion I was living. Thanks but no thanks. I am much happier now.
When I am not working, I enjoy reading, hanging out with my family and friends, cycling (as in 120mph cycling), basketball, watching The Sopranos, and my favorite weekly drama since I was a pup, The Dallas Cowboys (don't hate the playa, hate the game, baby!!)
It seems funny now, but there was once a time when the word "workaholic" made me cringe. Now I can say that this word might be used to accurately describe me. It's funny how when you do something that you love (like work for yourself) there aren't enough hours in the day, but when it's something you hate (e.g., work for someone else) you can't get out of the door fast enough!! I realize that being "married" to your work may not be a good thing, and I am seeking to incorporate more balance into my life on a daily basis...lol. Maybe it's just me, or maybe some of you can relate. But real estate for me is an addiction. As I write this I had been telling myself that I was going on a mental vacation thru the end of December. Well, that lasted about 1-2 days, I think. There's always seemingly so much to do. Yeah I know--- systems right?? But first I have to learn the system so that I can "develop" someone else to do it. I have yet to read The E-Myth and The Four Hour Work Week. Maybe reading those two books will help to change things a bit. Anyone reading this feel free to contact me if any of this sounds familiar and you wish to offer advice. The good news is I love this business and I do know the things I must do to make it easier, simpler, and less time consuming.
When I am not working, I enjoy reading, hanging out with my family and friends, cycling (as in 120mph cycling), basketball, watching The Sopranos, and my favorite weekly drama since I was a pup, The Dallas Cowboys (don't hate the playa, hate the game, baby!!)
It seems funny now, but there was once a time when the word "workaholic" made me cringe. Now I can say that this word might be used to accurately describe me. It's funny how when you do something that you love (like work for yourself) there aren't enough hours in the day, but when it's something you hate (e.g., work for someone else) you can't get out of the door fast enough!! I realize that being "married" to your work may not be a good thing, and I am seeking to incorporate more balance into my life on a daily basis...lol. Maybe it's just me, or maybe some of you can relate. But real estate for me is an addiction. As I write this I had been telling myself that I was going on a mental vacation thru the end of December. Well, that lasted about 1-2 days, I think. There's always seemingly so much to do. Yeah I know--- systems right?? But first I have to learn the system so that I can "develop" someone else to do it. I have yet to read The E-Myth and The Four Hour Work Week. Maybe reading those two books will help to change things a bit. Anyone reading this feel free to contact me if any of this sounds familiar and you wish to offer advice. The good news is I love this business and I do know the things I must do to make it easier, simpler, and less time consuming.
My Business
I started investing in real estate in Jan. 2004. My next door neighbor and i were chatting one late summer afternoon when he showed me a book that he had on rei. I don't remember the title--- just thumbing through it i saw a few topics that looked familiar as I had researched rei on the Net before. Long story short I went inside that evening, did another search, found a link to my local real estate investment club (only one at the time), attended the next meeting about 10 days later, and the rest is history! I contracted to buy my first deal the following December (we closed on Jan. 8th) which was a rehab-to-rental and quite a challenge (tough neighborhood), but netted me $14k on a cash-out refi at 70% LTV, and to this day cashflows some $250/mo., every month on a 15 yr. mortgage with a long-term tenant! I fired my boss after my first deal.
Since then I have bought several single-family residences for passive monthly income, a few fix and flips, and more wholesale deals than I can remember (especially this year)! I plan to continue with all of the above, as well as explore sub2's and lease options a little more (mainly because they should be a cake-walk in this market), and ultimately land in the commercial arena starting with a fairly large apartment building then maybe something like office/warehouse. There's so much oppurtunity!! I realize that focus is a good thing, but I kind of follow the great Ron LeGrand's philosophy of why limit yourself to just one strategy?? That's one of the cool parts about this business: there are no limits!!
Since then I have bought several single-family residences for passive monthly income, a few fix and flips, and more wholesale deals than I can remember (especially this year)! I plan to continue with all of the above, as well as explore sub2's and lease options a little more (mainly because they should be a cake-walk in this market), and ultimately land in the commercial arena starting with a fairly large apartment building then maybe something like office/warehouse. There's so much oppurtunity!! I realize that focus is a good thing, but I kind of follow the great Ron LeGrand's philosophy of why limit yourself to just one strategy?? That's one of the cool parts about this business: there are no limits!!
My Contacts
My Comments
03/29/2009
Hi, I messaged you a while ago about Leadtackle.com. Just wanted to update you with it as we have over 50 billion dollars worth of real estate buyers/investors signed up to our site for you to network with if you ever are in need! Hope to see you on the site soon, its totally free! Take Care
03/05/2009
ATTENTION MY FELLOW COLLEAGUES:
IF YOU HAVE BUYERS AND CAN'T FIND A WAY TO MAKE MONEY WITH THEM, CALL ME, EMAIL ME....I WORK IN ALL 50 STATES...EVEN HAWAII..YES I SAID IT..HAWAII(NEED A VACATION ANYWAY!!)
I WILL PAY CASH FOR THE HOUSE, THE PRICE DOESN'T MATTER,THEN I WILL SELL TO YOUR BUYER FOR A PROFIT....WE CAN MAKE MONEY OFF THE DIFFERENCE OF THE BUYING PRICE AND SELLING PRICE!!
EXAMPLE: I BOUGHT A HOME FOR $64,000 CASH, WITH LITTLE OR NO REPAIRS NEEDED TO HOME, TURNED AROUND AND SOLD THIS SAME HOUSE TO MY BUYER FOR $89,000...THE HOME APPRAISED FOR $110,000, SO THE BUYER STILL HAD $20,000 WORTH OF EQUITY IN THE HOME IN A BAD MARKET!!(THAT'S SWEEET!!) AND I WALKED AWAY WITH MAKING JUST UNDER $25,000!!
IF YOU WOULD LIKE TO GET ADDED TO MY BUYERS LIST, PLEASE EMAIL OR FEEL FREE TO CALL ME. IF YOU NEED EXTRA MONEY DURING THIS TIME OF REAL ESTATE, EMAIL OR CALL ME ABOUT YOUR END BUYERS, I HAVE A TITLE COMPANY THAT CLOSE DEALS IN ALL 50 STATES
CALL ME EMAIL ME CALL ME EMAIL ME CALL ME
03/05/2009
ATTENTION MY FELLOW COLLEAGUES:
IF YOU HAVE BUYERS AND CAN'T FIND A WAY TO MAKE MONEY WITH THEM, CALL ME, EMAIL ME....I WORK IN ALL 50 STATES...EVEN HAWAII..YES I SAID IT..HAWAII(NEED A VACATION ANYWAY!!)
I WILL PAY CASH FOR THE HOUSE, THE PRICE DOESN'T MATTER,THEN I WILL SELL TO YOUR BUYER FOR A PROFIT....WE CAN MAKE MONEY OFF THE DIFFERENCE OF THE BUYING PRICE AND SELLING PRICE!!
EXAMPLE: I BOUGHT A HOME FOR $64,000 CASH, WITH LITTLE OR NO REPAIRS NEEDED TO HOME, TURNED AROUND AND SOLD THIS SAME HOUSE TO MY BUYER FOR $89,000...THE HOME APPRAISED FOR $110,000, SO THE BUYER STILL HAD $20,000 WORTH OF EQUITY IN THE HOME IN A BAD MARKET!!(THAT'S SWEEET!!) AND I WALKED AWAY WITH MAKING JUST UNDER $25,000!!
IF YOU WOULD LIKE TO GET ADDED TO MY BUYERS LIST, PLEASE EMAIL OR FEEL FREE TO CALL ME. IF YOU NEED EXTRA MONEY DURING THIS TIME OF REAL ESTATE, EMAIL OR CALL ME ABOUT YOUR END BUYERS, I HAVE A TITLE COMPANY THAT CLOSE DEALS IN ALL 50 STATES
CALL ME EMAIL ME CALL ME EMAIL ME CALL ME
12/16/2008
Save the Economy, Buy with Matt
11/28/2008
What brings you to the site?
If you have any questions I can help with send me an email using the contact page on my blog side.
John Corey
www.ChelseaPrivateEquity.com/blog
10/17/2008
Hello,
I am happy to have you as a part of our ever growing network! I look forward to looking further into the services you offer and hopefully we can work together in someway in the future!
When you have some time, check out our program. You can use OUR funds to flip Short Sales and REO's. We will only charge 1% of the loan amount due at closing. You keep all the rest of your profit! We call it "Funds for a Day" and we will also show you exactly how to Find the Short Sales, how to Structure them, and Close them. You will not need to use any of your own money to fund the deal, you won't need a hard money lender, and you won't need to use your own credit. No risk on your part! Just those huge profits!
We can also show you how to sell your houses in as little as two weeks for Top Dollar! I look forward to hearing from you! Stay in Touch!
(Click Here)
Master Home Solutions
www.MasterHomeSolutions.com
www.EnsleyFunding.com