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25-Year-Old Does 25 Deals in One Year

by Zack Wiest   

My story starts out in January 2001. I was 25, sick of my job, and hungry for money. I ordered Carleton Sheets, the course arrived, and I completed the course in one day. About an hour after completing the course, I hit the Internet. While searching for the Carleton Sheets website I stumbled upon CRE Online. This was not good, seeing as though I was now obligated to review every last page of this site.

The site was so informative and full of information my brain could not handle it. About 20 minutes into my exploration of CRE Online, I discovered something called a newsgroup [The Main Real Estate Forum]. I literally fell off my chair. WOW! Not only does this site have everything I ever wanted to learn, but I can ask any question and in a matter of minutes get just about any answer to all on my naive questions. Talk about hooked, I was a CRE Online junkie.

As of March 15, 2002, I had completed 25 real estate deals. I put almost $150,000 in my pocket, bought an upscale condo for my wife and me, a 1998 Toyota Landcruiser, vacationed in Maui for 10 days, and was able to help my mother leave her job and start her own mortgage processing company. Oh yeah, I quit my job on June 14, 2001.

The deal I was most proud of was a 4-unit flip. I made $24,000 for three hours worth of work (seriously, three hours, probably less). The guy I flipped it to, a trial attorney for a very reputable personal injury firm, has a $4,000 a year positive cash flow. We are currently working on deal #2.

I do a lot of rehabs. Funny thing is, I swear to god I did not even know what a furnace looked like until after my 4th deal. I used the old "mastermind group" to help me. Hell, I still don't know much about repairs, I pay other people to know that stuff.

I was fortunate enough to attend Ed and Terry's workshop in New Orleans (How to Get Lenders Fighting to Give You Money). I met JP, Ed, Terry and Jeanne down there. I also met Dan Fink, Dale Hensel, and Jim Rayner. Thank you to all of you.

Eddie (or "Hollywood," as my secretary calls you), you are the kindest, most generous person I have ever met. My first million will be a direct result of all of your long hours with me. THANK YOU! I will buy you any wine you want then, what's that stuff you like "Opus." I'll get ya a case.

JP, your interest in what I do makes me want to do twice as much. You are as genuine as they come. Your interest in me helps me more than you will ever know. Thank you!

Terry, you are just amazing in all aspects of life and business.

Jeanne, your welcome in Atlanta was so refreshing. You are one of the sweetest people I know.

Dan Fink, I love ya, man. All of the trips to Baltimore and back, all of your help, thank you.

Dale, you are just one of the most awesome young guys I know.

Jim Rayner, I learn new stuff every time I talk to you. I have no idea what any of it means, but what the hell.

A year ago, all of the people above were to me what Michael Jordan is to basketball fanatics. Seriously, I was in awe the first time I met them. I am actually still a little stunned and get nervous when I see them.

In closing, I want to say that real estate investing has truly changed my life. I am no different from anyone out there. I hate to say it, but I never even graduated from high school. Anyone looking to do this business, please do it to your fullest potential. It is not easy, but it does work. Do your homework, network with others, and never give up.

People will tell you it can't be done and it will never work. I promise everyone, IT DOES WORK, and IT CAN BE DONE. This is only the very beginning for me. Thanks to everyone who has helped me. I love all of you!

 
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