hit roadblocks, so whats next to keep moving forward***unofficial journal***

Lets see, good day..Celebrated sisters, and nieces birthday today...had to take off in the middle of it to check out the house been wanting to for the last couple weeks...So anyways,

Decent place...not my favorite house, mainly cause I would do different things with it than they did...Going to put an offer for 130k, asking 150k...If excepted, we plan on assigning it hopefully...It def needs rehab, and I wrote down all the things it needs...Nothing major, but mostly painting, new carpets, trim needs to be done, things like that...It does have updated kitchen, which is nice...Its 3 beds, 1.5 baths 1302 sq ft...In my area, most houses are 250k and up...Many much more expensive...Of course, if offer gets excepted, we will do the comps and run all the numbers...

Avg. listing price: $385,513
Avg. sales price: $331,168
Avg. price/sqft: $127

Of course just the average for the area the house is in, so doesn't mean anything necessarily...But according to the avg price per sqft, it would put the house at 165,354.00...But I would not pay 150k for it...so we shall see what happens...

Hi,
So, I finally got a few minutes together and read through to catch up with your progress. You are definitely plugging away. Does the seller know what the bank said about the down payment. Could you talk to him, get a contract together with him for the down payment and have him pay you the money now? The contract can state (between the two of you) what the money is for and if the deal falls through he will get his money back, maybe with a little interest. Talk to your attorney about this and see what he suggests. (Maybe he is great, give him a chance!)
Angela

Now who's AWOL? You yelled at me for not keeping up with my journal. Now it's my turn. It's been 4 whole days! LOL

No seriously, I'm just wondering how things are going with you. What's going on with your multi? Where are you on that? Did you put that offer in on that house you mentioned in post 91? Anything new going on?

Just keeping you in line

Thank goodness somebody is...You, Richie and Angela have to keep me inline...

Multi is going ok still...Few bumps, but I think we are back on track...HOPEFULLY...

As for the offer from post 91, still waiting to do that...The agents mother ended up back in the hospital, so kind of slowed things down...It happens...Hopefully we can catch back up with things when things get better on his end...We have bout 4 offers still waiting to go in, just have been waiting to do that...And hopefully can go check out a couple houses on Sat and have a couple more offers to go in...

So just kinda a waiting game to make sure things are ok on his part, and then hopefully go from there and get these done...

Sorry to hear about your agents Mom, Glad to hear that the multi is still going forward. keep looking and making offers. who knows ,maybe you get a wholesale done and get some extra money in your pocket to work on the multi, or put down on another rental. good luck.
Richie.

Here is the link to the Secretary of State for CT and the form to complete for an LLC. It will cost you $60.

http://www.ct.gov/sots/lib/sots/commercialrecording/allforms/articles_of...

Anyone can go to their states Secretary of State and find out the details. Easy. I found yours in 2 minutes.

Hope this helps.

As far as the leagal question, I am putting my faith in the addendum to allow me to assign, and escape if necessary. Perhaps a double closing? Banks don't like that on a short sale but otherwise may be fine.

Wendy

Haven't been on to much lately...Billys mom still isn't doing well...Been in the hospital for, and hes been there a lot...So other than the multifamily house been working on, thats about it unfortunately...I don't want to push at all, especially at a time like this with what he is going through...

Still bumps occurring, but aw well...As long as it gets done, I don't care...I have found a way around them all so far...

So there is my update...Nothing special at all...

last night, found out Billys mom did pass away in the morning...So not good at all...She was in a coma for at least 3 days...So it was rough for him...

anyways, working with another lender...Chris ended up not doing what he said he was going to do...So trying to figure out things with another guy...Kinda just feeling everything out, to see which way we wanna go...So have a couple options atleast...So things are still moving...Trying to make things work, which is important...

Hi Marc,
Just wanted to say things have a funny way of working out for the best. When things for me are out of my control. I shift my focus on the long term goals. As long as we keep moving forward, things will follow. Keep the faith. Much success always........
Sincereley,
Lubertha

Today, I am hoping to get together with Chris...We have a bunch of house that we know are for sale, and we want to get the addresses...Also going to talk to him about when things get better for billy, how we want to approach things...If we are going to keep it the way it is, or switch things up a little bit...We have to make up for some some time since the last few weeks have been really slow...With good reason though...Hopefully will talk with billy over the next couple days, and figure things out...We have some offers still needing to go in, plus need to get updated with where I stand on the multifamily, and some other stuff...Since the meeting with "ANSUN" in NY(great to meet the other 8)I have to talk with chris about what he missed, ask him about joining in on the emails, and the idea about setting up a parent company...So even though things are slow right now, still working on things...Even though I feel like I am slacking, I am still trying to do something...Things will pick back up soon, I have faith...

Hi Marc,
All that matters is that you keep the focus on moving forth. Everyone has there own path to success. Even if sometimes you get a liitle side tracked. You know how to get back! Continued success...........
Sincereley,
Lubertha

I am sorry to hear about Billys mom.
But keep up on that multi so the guy knows you are still interested. hopefully things will get back on track soon.
Remember,ups and downs are part of the business, so don't get discouraged.

so many ups and downs...So right now, things are back on track a little bit more...Billys doing better for the most part...Multi is back up and going better...New Lender...Oh you have no idea...The other lender just, well, oh god...I don't even know where to start...Just say, he was great, then blew smoke up my butt basically to put it nicely...

Anyways, things are going better with this lender...Billys known him for forever too, so that makes things easier...Gotta get the W2's, Tax returns, pay stubs and all that...

So gotta wait for the lender to send that stuff back...And according to the broker, he is sending them out tomorrow...I hope since I backed out(told him I lost the deal, instead of telling him I am goin with another lender)(but to many problems with him so had to)that he isn't going to pull any BS and take his time...I NEED THAT STUFF ASAP...

Now just gotta get Billy back on track with all the other stuff...Plus I am looking into another property that I can possibly get Penny's on the Dollar if it is still available...I posted about that in another forum asking for some advice...If it is, this one deal can make me a very very nice profit...More than 3-4 years worth of pay at my job I'm at...

You are really moving up the real estate ladder. Continue the success route. All the best to you.

Sandra

When all of these deals come through for you can I add you to my HML's Buyers List?

Angela

If they all come through, heck yeah!!!And I won't charge interest or anything...Ill just let ya borrow the money...And you can pay me back when you make the millions...

I am trying so hard...Wanna get things back on track, but since they are a little off right now since still waiting for billy to catch back up with stuff, chris and I are taking a little different route...And I think we may stick with this route, including when Billy gets back to being on track...

So wish me luck with everything!!!So much on my mind, and want to make it all work...Off to work in a minute...Hopefully I won't be saying that by next year...

It is great to read about your updates. In regards to agents and offers, I always feel the "squeeky wheel gets the grease". Therefore, feel free to email the real estate agents and call them whenever you want. The way I look at it, the more property you buy the better it is for them because they are making more money too (realtor's commission). It is a win-win for everyone. So, in theory, by calling to check on the status of a deal, you are only trying to make the real estate agent more money. Good luck on all your deals. Believe and Achieve! - Joe

Hey Mark. Glad to hear things are getting back on track.
Keep up the good work and it will all fall into place.
I have faith in ya.
good luck
Richie.

Checking in to the site and of course looking for your updates.

How is Billy doing? Hard for him to get back on track I am sure but it seems as though he is making strides in the right direction.

I have been wondering about Chris too what you guys are up to.

I owe you an email I will get around to it soon.

Good Luck with everything!
Hopefully by this time next year you won't even be giving that job a second thought!

Billy is doing better...Talked with him a few times...He has been trying to get caught up with all of his things he got behind on...so can't blame him there...I emailed him the other day, and basically said as nicely as I could without sounding like a jerk:I know you are busy, but is there anyway we can take an hour or 2 for chris and I to get caught back up when you get the chance...So sunday we are meeting, and chris and I are going to let him know what we need to do, and try and work something out where it can work for the 3 of us...Plus we have a few offers that NEED to go in, along with a couple properties we want to check out...So billy is making a come back from a long month...

Chris is doing well...Talked with him about meeting everyone in NY...Went over everything with him...So we kinda know where we stand for the most part on that...Also, we have talked about when we hook back up with Billy, how we can do thing and make it easier for all of us...And to make sure things get done...Plus Chris really likes Tax Sales, so we are also going to be putting more effort into that as well as everything else...Especially if things ever come up that slow us down again...We made the mistake of not preparing for what happened with Billy...so that slowed us down a lot, so we learned something throughout this process...I have to talk to him bout a couple other things we need to take care of soon, but everything is good...

He def wants to see money coming(me too) in especially since putting all this time(and money) in...The muli family has been a bunch of up and downs which if you have read the unofficial journal, you know that...Plus when things really started picking up for us, billys mom got really sick, then passed...

So another roadblock...But the best thing we can do, is take what we learn from everything, and keep moving...Things will work!!!

also, my new "project" I am working on, here is the link...I started a new forum for it...

http://www.deangraziosi.com/real-estate-forums/everything-else/22209/200...

alright...Still no info on the "new project"

Did finally talk with Billy though...He has/had a lot on his mind...Lot of crap...anyways, we should be back on track for the most part...THANK GOD...

Actually meeting at a house Chris and I want to check into tomorrow around 3 as long as nothing comes up for him...Hopefully everything will go well with that...The property looks nice, and Billy, Chris, and myself think it is def under priced...So we shall see when we see it.

We also came up with a game plan that Chris and i will send him a list of properties by Wednesday(every wednesday) morning, and he will set up times so we can check them out...Plus if we want to make offers without checking into them first, we are good to go with that also...

When we meet tomorrow, we plan on talking more and figuring more things out...

All and all, getting back to what we need to be doing!!!WOOOOOO

Today is a good day so far...FINALLY got my w2's, tax returns, and all that stuff from the bank I was planning on going with for the multi, but unfortunately, they weren't keeping us posted...So anyways,

sending that to the banker that billy has worked with for a long time, and hopefully get things rolling again...

Plus checking out another house and hopefully getting back on track even more with everything else...

Aren't you guys sick of this multifamily stuff???jeez...Been a roller coaster of ups and downs and loops...I really hope everything works out and we close this deal...

Sent all the papers to the banker...He got back to me yesterday with some more curveballs...Did I expect anything less? It is getting to the point where the things they need done are getting ridiculous, and harder and harder...I have gotten over every single thing they threw at me so far, but now it seems as if my options are getting smaller and smaller too...So getting more and more nervous.

Banks stink!!!

So anyways, I am attempting to do what they need, and Billy is working on his side of things...If we can close this, it looks like it won't be until atleast August...Which is fine, as long as we close this...

So a little bit down(cause I am nervous of losing this) but still doing what i can and attempting to knock one of these pitches out of the park...

We have 3 offers going in on different properties very soon.(hopefully today)We checked out a house yesterday, and it has SO SO SO much potential...It is def a property that if I had the money, Id buy it, update it and make a HUGE profit on...It is already under priced, so that is a good start price wise...So we are going to try to assign it, provided the offer gets excepted...

Plus the land out in front of the house, can possibly be subdivided(billy is checking into that for us) so even more money if that is the case...If that is the case, this one property has so much potential, that anybody who has the money to buy, fix and flip is crazy if they don't jump at it...

It has been on the market for a long time too...so that will also help...

Well done Marc. You are a man of action, so things will happen when you least expect them to. You might be thinking August and the good Lord thinking July. All the best to you.

Sandra