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

Welcome back Marc, and don't you dare disappear on us. I agree with Jen, bankruptcy is not an option, and I hope you do not have too. This will set you back. You have what it takes to ride this wave, you are a fighter. Do not take the easy way out. There might be nothing to this, do some research, get a good lawyer, investigate the situation, and if it come to losing your house or car and you have no other options, than bankruptcy; you may have no other choice. Make that the last resort. You are in my thoughts and prayer. God Bless Marc.

Sandra

You have had your ups and downs this past year. You are young and you are strong and you have accomplished so much! When things get tough and 'knock us down' so to speak - you strike me as the kind of person who gets back up again even stronger than before. From all the posts to you it's easy to see you have a lot of people who care about you and who are rooting for you.

I will keep you and your Mom in my thoughts and prayers.

Lea
SPR Property Solutions, LLC

Just wanted to say THANK YOU to everyone...I have been reading your post when you guys have been posing...but haven't had much time to reply...

I MADE SURE that my house and car are going to be ok no matter what...those TWO things were my biggest concern...and even if I file, both will be OK...so thank goodness...

as far as the attorney saying that it is my best option, it is cause
1-don't have $10,000 to fight it
2-they could attached my wages from my job to get money if they win
3-they could attach a lien to my house
4-the amount of money they are going after is ridiculous

and if I do file, it clears my name and says I have no money at all, so they can't go after me...and they wont be able to touch my car or house or go after any money...

it is an unfortunate thing, but if my credit is the worse thing that it hurts, then maybe it will teach me how to get by without credit...how to manage money better...maybe how to make money without money or credit...lots of other people can do it, why can't I...maybe its harder, but that's life.

I got my butt moving this morning...I emailed about a property today that needs a total rehab...so hopefully they will get back to me, and I can get an offer in with the assignment clause...well thats my goal anyways...It may be bank owned(which I think it may be) but unless I ask, I won't find out..so wish me luck there...

also am checking into other properties as well...feels good again...looking on the mls for properties that need rehab...so hopefully can get some offers in and assign some...

have about 8 properties i want to throw offers in at...some bank owned, but aw well...if I get no's, I get no's...not a big deal...can't hurt to make the offer

Good to hear your active again. So you are going to try wholesaling, that is good, I am doing the same thing, I am house hunting this weekend( Sat ) in the am then back to family chores later in the day I have specific houses I have to find for my investor, no MLS, he wants vacant homes any condition.
Let me know how you make out or if i can help you in any way.
good luck Marc
Richie.

ok...time for update...have bunch of properties I want to get some offers in on...

emailed an agent...have a meeting set for wednesday after work...told her about how I want my offers, and she didn't seem to have a problem...I told her I would like to explain what I want to do, and where I stand...

so basically, hopefully things will work out...time to make the coming months moving forward...the 2 month set back wasn't cool...but like I said somewhere else, cant change the 2 months I wasted...but I can change today, tomorrow and the coming days...

and I think matt has an awesome Idea, so here is the link if you haven't read it(letter to myself)
http://www.deangraziosi.com/real-estate-forums/everything-else/37803/let...

the meeting went very well...very nice agent that I met, and will be having some offers going in possibly today...if not today, very soon...so I am very excited for that...

Hi Marc,
I'm Scott. Love your journal. Thank you for sharing all of it. You are inspiring the rest of us.
I had an idea. Near the beginning of this journal you spoke of needing a lawyer to look over the assignment contract etc. You had problems finding one, but you didnt give up and you found one. You should go back and reread the first few pages of your journal. That would help you in more ways than one. I suggest you contact that same lawyer again. You already have a relationship with him, so that's a start.
Think outside the box. You need a no money down lawyer. Maybe he would be willing to work in trade for a percentage of your next deal instead of cash. If not him maybe some other. That may not be what will work but you know what I am getting at. Think outside the box.
I know if you put your mind to it you will find a way. I am not just saying that either. Will it be easy? Of course not! WIll it be hard? Yeah most probably. That's your speciality isn't it?
I have seen in this journal that when you hit a obstacle especially the tougher ones you get discouraged then get mad at yourself for letting it get to you, which motivates you and you then run right over through around or under the obstacle, laugh at it and leave it behind forgetting it excpet for what it taught you.
Make it a POSITIVE thing. Maybe you were getting to relaxed, things were getting to easy. Maybe you needed a new obstacle to get you motivated again. When you surpass this, and you will, we all know it including you, how will you feel? We have a mutual friend that said something about making obstacles into challenges(BARM). How would anything be without challenges? Challenges is what keep us going and give us the oppurntunity to learn, grow, improve, and be proud WHEN we meet them. We have another mutual friend that says something like believe and achieve. You got this! BELIEVE!!!

Scott

thanks alot...I appreciate you taking the time to write that..def got me to think again...it is fun to have problems, and somehow find a way around them...sometimes I forget apparently...

I got this from an agent after meeting with her, and telling her my plans...I had a bunch of properties that I wanted to get offers in on, and she emailed me this...she was all for it supposedly...any suggestions how I can get over this with her...or should I just move on???

Hi Marc,

I spoke with my broker as well as with our board attorney and he said that I would basically be wasting your time, my time, the other agents time and the sellers time writing these offers this way. The minimum deposit accepted by these lenders is $500 with offer and an additional $1000 or more upon acceptance. NO ONE is going to accept $10 as an initial deposit. They are also going to require a second deposit right away. My broker said that the chances of me and or them getting paid is slim on so many Assigns. Even though you have a hard money letter, they will want to see something right away from the assignee (that's if they even accept the assign). Where do we go from here? I think my hands have just been tied!

I am in the process of having a few things going on...I had a possible owner financing multifamily property, but they decided not to do it...but ya never know, maybe they will change there mind if they still cant sell it...haven't even checked out the home...just know its a 4 unit multifamily home, same town as my other multifamily house I bought, on a river, and needs some work...nothing major as far as I know...found it on craigslist, and figured what the heck, why don't I email this person and just see what happens...she sounded atleast interested, but wasn't sure exactly how owner financing worked...Apparently never did it before...but who knows whats going to happen...maybe I will get a surprise email from her.

also, I see a bunch of potential assign properties popping up on the mls...Trying to find another agent that is willing to put these offers in...Billy didn't work out unfortunately...still running into agents that don't want to do the assignment deals...Either way, gotta get these offers in...the agent I talked to(the post up above this has to do with her)isn't going to work out...

meeting with chris today, and we are setting up a plan of attack as far as a few different things...so hopefully we can get things rockin very soon

Hey Mark, 10 pages wow!! It seems not long ago you started this journal.
Well I am glad to hear your moving along, the owner financing unit sounds exciting, hopefully she will get back to you and you can work something out that will put her mind at ease. sorry to hear Billy didn't work out, but thats part of the biz. I am focusing on FSBO so i dont need an agent right now, I think I will look for one down the road. you can just put offers in with the listing agent instead, you don't need a agent to put the offer into the listing agent. As a matter of fact the listing agent will like that better because they won't have to split their commission with your agent.
good luck dude!
Richie.

Thanks...I agree as far as with billy not working out...part of the biz, and just move on...No big deal...

I have started looking into more FSBO(craigslist and stuff like that)I think I am going to make it a goal to contact atleast 1-3 FSBO on craigslist a day just to see what happens...Owner financing, lease option or whatever...Cant hurt to contact them and ask...

I was also thinking along your side of finding the listing agent for whatever properties, and put the offer straight through him or her...It may take longer, but if it gets the deal done, then great...in fact, it won't even take longer...as long as the offer gets put in, that is what matters...

Just checking up on you to see how everything is moving along. I have been catching up on your progess and I see you are having issues with a realtor. I wanted to let you know what I figured out on craigslist last night. Go to the housing wanted section and start looking at all of the people that need houses, renting or purchasing. You could possibly do an assignment contract where you would not even need the realtor, or you could do a sandwich lease option, which again you will not need the realtor. Hope this helps with the realtor issue.

I hope this helps you, because it seems to be working good so far for me. I found a ton of people that need help, no I just have to find the perfect home for them.

Jen

Jan 8th ?? your getting as bad as me with keeping up with your journal.
just stopping in to see how things are going for you. I have been busy building my buyers list and finding homes for my clients, my only problem is the owners of the properties are not replying to my letters. I can't go see them because i dont know where they live as the buildings are abandoned and not on the mls. oh well I just sent out follow up letters today, Rina reminded me of that strat.
well good luck and never give up.
Richie.

s'been too long - Richie, Jen and I have been peaking in to see how you are doing and looking for an update .... What's the scoop my friend?

Angela

Hey Marc, how has everything been going? Have you had any good leads on craigslist? Keep us posted pal.

Jeremy

time for an update...been dealing with lots of "junk" at the multifamily home...the tenants downstairs in the first apartment are not good people at all...I don't want to be all negative, so i won't get into it...just ridiculous stuff

Nothing great on craigslist has popped up...something was looking good, and moving along, but couldn't come to an agreement unfortunately...woulda been great if it did...was over by my other home...and was also a multifamily...

got deans new book in the mail yesterday, and started reading today...and like all of his books and stuff, flying through like its my role...Def a really good book...

I have been popping in on the site like always, just haven't been posting much at all...

Talked with chris last night, and we are hopefully getting together either today or tomorrow...get some advertisements done and all that good stuff.

Hey Marc,whats going on? I havent seen ya on here in a while. I hope all is well and you got that tenant straightened out. If not, start eviction process. I dont know how long it takes in Conneticut but if thats what you need to do to get rid of a bad tennant then do it. We all know you are a nice guy but some times you have to be firm.
Richie.

Marc

Keep up the great work and don't stop

Marc,
Glad to see all the information everyone is offering to you. You mentioned this attorney may put together a group of private investors at 20 percent interest. That is extremely high ! Let him know you'll be shopping around for good interest and terms, and that you'll be doing repeat business with the right money investors.
I live in California where everything is high and there are plenty of "private money investors" offering lower rates than 20 %.
Good luck! Don't give up and keep on moving!