Minnich Journal - Success academy 2/16/09

Ok people, I have decided that I have no choice but to make this work. In turn, I have invested as of today basically the last of my savings to be coached one on one. The nervous excitement is unbearable, I can't sleep, I can't eat, but I am determined to build this business. REI has got to be the most gut wrenching thing I have ever done. I would even compare that to being in overseas conflicts in the military. There was always a fear of letting down your comrades in the heat of the moment but it is something entirely different when it applies to the future of a loved one. I will keep you updated as I forge ahead on this journey when I can.

Good luck to everyone,
Lonnie...

I almost cried catching up on your journal. Your mother is blessed to have you for a son, and I know for certain with the one-on-one coaching you're about to receive there will be no turning back. You will be a new person and be moving full-speed ahead as an REI.

I hope your first deal is swift and great. You'll get those credit cards paid off and be on to retirement.

Good luck, my friend, and be ready to work hard. Good things are coming.

God bless, and I will be following your journal like a hawk. lol

Rina

it gets a little overwhelming but I am back ready to go. Thanks for the kind words, as usual Rina, always a ray of sunshine. I have to say too that I would love to be a success story not just for me and my family but for all the DG family that's out there having a hard time and trying to make this dream a reality. I want to be in a position where I can help and boy can i be a cheerleader. They really work on building a strong voice in the military so i am already set when it comes to that.

Can't wait,
Lonnie...

Hey Lonnie congrats on investing in the academy, I am sure they will help ease your anxiety. I would have to differ with the REI being more gut wrenching than being in the line of fire lol. I have not heard of anyone being shot at doing a deal .
any way thanks for serving our great country and good luck on your REI journey.
never give up.

Richie.

I think about my friends out there still putting it on the line for us everyday and it is a little humbling to know that some I will never see again. And here I am whining about financial problems. I can't wait for the day when I can give back to the military family in a big way.

Program progress:

I got my first to do list today to get done before the one on one coaching on Monday. Here's the progress:

1) Put out the craigslist ad: I saw that I got an email on that this afternoon while I was out so I will call her tomorrow.

2) Put out 9 of 21 signs

3) Only found three "for rent" signs in neighborhoods while driving around, called on them but only ended up with one lead sheet. Hopefully, tomorrow will be more productive in that area.

4) Left a message with a realtor I use to request an mls search for me. Haven't heard back yet.

5) Found 5 laundromats to put up flyers in. Will do that tomorrow as well.

Today, I was out and about and here is the progress:

1) Have placed 9 more signs to make it 18 now

2) Came across 9-10 for rent signs, called and now have 4-5 lead sheets

3) Heard back from realtor and he emailed the list I requested this afternoon, nice

4) Called back on email from craigslist ad and she is retiring from landlording but doesn't really need money, we'll see how this one works out.

That was basically it today, a lot of driving though.

Here's a little tidbit for you. If you are driving or expect to be driving neighborhoods. The best times are from 11am to 4pm. But why Lonnie? I'll tell you. As your driving around, keep an eye out for the mailperson and don't forget to stop by and ask them if they know any vacant homes, distressed homes, for rent homes, and for sale by owner homes on their route. Not only can they give you exact addresses but also most of the time they can give you some of the background of the owners' situation.

I realized this today and they really hooked me up!!! Go Mailcarriers!!!

Until next time,
Lonnie...

with some sellers today, looks like a got everything done as requested:

1) Put remaining signs up (20 ttl)

2) Called on 22 for rents

3) Have 8 lead sheets from calls (4 buyers and 4 sellers)

4) Posted 3 flyers (of the certain type of place i was requested to look for i only found three in the areas i am interested in)

I do apologize for the anonymous nature of my posts but after consulting with the coach i will know how open i can be with these steps, thanks.

Lonnie...

Okay, so I followed up on one of my leads I got from a for rent sign and it turns out he is selling and needs to sell actually all four of his props by September because he is moving down south for a new job.

He has all of them paid off but one (small 9k note) and understands that he will have to take a hit to get these sold.

......

So that was where we left off over the weekend. Today, I meet with Matt, yes the one and only, and mystically this same guy sends me this very long text saying how he was just told that his training for this new job starts in July!!

Ok, now i am salivating a little, sorry, i have to clean off my comp as i am writing this............. Anyway, he says that he is a very motivated seller and he will work with me however he can to get rid of these, woohoo!

We are meeting tomorrow to discuss how much equity he is going to give up, just kidding. I swear Matt must have been a rabbit's foot in his past life, lol.

More later,
Lonnie...

with the seller and got him down from 50's to 30's so far. The good thing is that i might be able to make 10k each property, so 40k, with the selling prices at 35, 35, 35, and 35.

So, I basically offered 25 for each and his lowest possible was 35 each. Now at this point, I told him that if he wasn't willing to give me a little more room I wasn't sure we could make this work and he should probably go with a realtor. (knowing darn well his timeline doesn't really permit it)

(Just so you know, I asked him earlier in the conversation if he was going to need the cash from these houses to use to buy his new place in Georgia and he said no. So I knew he really didn't need the cash, he was just haggling.)

Anyway, I then told him that after I had a chance to look at the comps (which I already looked at) and if a couple of the homes turned out to be worth a little more than i originally anticipated, would he consider working with me. He said yes. I said, well, i know two of them will still be only 25k but the other two might have some wiggle room, say to possibly 30k each. I then said, if that's the case, would you be comfortably with that? And he said yes!!

Sweet, now I know this guy has agreed to 25k, 25k, 30k, and 30k!!! And I am pretty dang sure that I can sell the first two for 40k, the third for 45, and the fourth for 50k, in a couple weeks.

I'll keep you posted,
Lonnie...

P.S. In the meantime, wrote up more bandit signs, will post them tomorrow, got names and addresses for buyers and sending out letters tomorrow for 39 of them. Also, I posted two more craigslist ads and will identify a list of banks to qualify for tomorrow. Peace.

Ok, today we are signing the contracts this afternoon to get these four props locked up at 31k each. I couldn't keep him at the 25k each, like i said need some work on the negotiating part. Tomorrow i will be calling all buyers on this one, "calling all cars". Anyway hope to share some better news soon about this deal.

Lonnie...

Can't wait to hear the exciting "calling all cars" chapter! Great job, Lonnie!!

Rina