Real Estate Investing Students
Success Stories
The Mentor Financial Group is proud of all our students’ residential and commercial real estate investment successes. The following is a small sampling of real-life success stories and testimonials we have received from just a few of our satisfied Residential and Commercial Mentoring Program students.
John Pena, an ex-CPA and entrepreneur from Washington state, is shown here in his garage (a.k.a. the rent to own sign-making company). John’s first purchase option deal was a lease option investment that created locked-in profits of over $35,000. And by the way, the signs you see him putting together in his garage generated over 80 phone calls from perspective tenant buyers. That just goes to show how easy it is to find tenant buyers when you follow our proven marketing and real estate investment strategies.
Chris Schoelle, a Residential Mentoring student in Idaho, is shown here in front of the upscale home that he bought from a motivated seller. Chris made the ultimate mistake when buying this house - he showed it to his wife. Chris’s wife fell in love with the house and decided that rather than sell it to a tenant buyer, they would move their family into the house themselves. Chris structured this deal with less than $500 down using owner-carry financing.
Peter,
Just a quick note to say thanks again for your great materials. This is a check from my closing today on a house we purchased “subject to” the existing financing. We spent approximately $19,000 on repairs and had to make up a few back payments, but all said and done we netted about $43,000. Not bad for 5 weeks work.
Mike Wilson
Indiana
Margaret Utley, shown here on the telephone during the original San Diego Challenge, makes phone calls to “For Sale” and “For Rent” property owners in San Diego. During the course of the three-day challenge, Margaret and her teammates made hundreds of phone calls to local property owners. After setting up appointments with over 25 property owners during the three-day challenge, Margaret and her teammates picked up ten properties worth over $1.5 million dollars with just $37!
I want to tell you about my first deal. A seller called me off of a business card that I had left laying around. They live up in the mountains west of Colorado Springs. The elevation (9500 feet) was really aggravating the health problems that they both have. I met with them and arranged an 8-year lease option. The sellers owned the property almost free & clear. They were willing to refinance out most of the equity so that they could buy a home in Texas where they’re moving. I was able to acquire the property for $97,500 and the appraisal for the re-finance came in at $151,000! The sellers have voluntarily done all sorts of work on the property in preparation to move – painting the entire interior, including taping, texturing the basement, replacing a broken window, etc. etc.
I’m amazed at how easy it was to put the deal together. I still can’t believe they’re willing to walk away from so much equity. I’m glad I was able to help them move on with their lives and get to a place that will improve the quality of their lives.
This deal has changed my life in several ways. I now see myself as a bonafide investor. I have the confidence to know that I can sign up deals where both parties win. I know that it is possible to buy houses creatively. And I see that I’m on my way to my dream of financial freedom.
Heather Kubicek
Mentorship Student
CO
Eric and Sara, two mentorship students from San Diego, are shown here as they graduated from their Intensive Training class several years ago. Soon after leaving the Intensive Training, Eric and Sara signed up an eight year equity split deal on a two-bedroom condo in San Diego. They locked up the property for an option price of $102,000. Currently, the condo is worth over $240,000, and they have four years left to go on their option.
Dear Peter,
My tenant buyer just left and I can’t believe how easy it is to make money with purchase options. The techniques I learned on day one made finding this deal like looking for a bonfire at night. The seller was thrilled that we would take over her payments, and the tenant/buyers were excited to get into a purchase option so easily. I used the agreements and just filled in the blanks like you told me to. I’ve spent more time filling out forms to buy a car than I did writing up this deal.
Total profits from my first purchase option are $13,844.00. I just added up the hours putting this together and I don’t even have 8 hours invested. I’ll let you do the math, but I’m fairly certain that this pays better than my $7.70 an hour job at the ski shop.
I now know that going to the training event was the right decision. The chance to model your ability to create wealth while living a balanced life was an additional plus for me.
Sincerely Yours
Dan Harrigan
Dear Peter,
WOW -- I did my first deal for $1.00. So here it is. I found it on the Internet for sale by owner. I feel pretty lucky because it was in my first 15 calls. The deal went like this: asking price was $70,000; they owed $65,000. We ended up giving $68,000 with $3,000 up front for moving costs - and got a FOUR YEAR OPTION. Tenant buyer came in with $5,000 option money and a option price of $88,000; we gave the sellers $3,000, still leaving me with $2,000. Deal will net $25,000 for my first DEAL.
Going to the Intensive Training camp in Denver in October 2001 was the best investment I made in my life and for my family! My goal is a five-year plan to be full- time investing in real estate. And what would I say to anyone wondering if they could do what I have done -- First, find an honest mentor plan like Mentor Financial Group and Two, Have the confidence in yourself! Thank you, Peter
F&G Real Estate Investments
Frank & Glenda Baldissero
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