Lea's Journal

The SS we are working on with Richie has given us a run for our money this week. But in the end is coming together the way it should. With the exception of one difficulty (the saga continues) ..

This property was listed with an agent who was going to do a SS for the owner but never submitted SS paperwork to the bank. The owner has been through an awful lot this year and signed paperwork to get out of her contract with this agent after discovering his failure to start this SS on her behalf. Well we found out yesterday that the REA didn't sign the paperwork for the owner. He is non-compliant. You can't tell someone you are doing a SS for them and NEVER submit paperwork to the bank. This contract with him was started back in January. So Richie will be contacting the agent on his cousin's behalf to get this resolved. If the agent doesn't take action immediately to correct this Richie will be contacting the Board of Realtors. The home owner is recently widowed and grieving and doesn't need (or deserve) the aggravation she has been through. All of us involved in this transaction are in agreement that the bottom line is to do right by her so she can heal and move on with her life.

There is so much to learn about REI but one thing I know for sure is that trust and communication is the key in REI as well as all relationships.

Yesterday I got a call from Shane It was such a pleasure to get to talk after all the posts on this website. It came as no surprise that Shane has an upbeat, postive, I can do attitude.

We received a call from a gentleman who wants to do a SS on his property. I sent him some paperwork to begin the process and our partner is following up with him.

He called in response to a recent letter we sent. He owns one of the properties we found driving around last week. Whenever we receive calls from folks I note the source of the lead. This tells me what is working and what isn't. It also lets me know if the caller came from a referral and if we'll be paying a referral fee after closing.

Lea
SPR Property Solutions, LLC

Are you guys having fun yet It has been an interesting ride so far on the SS train, we are like the little engine that could. We never give up and find a way around the obsticles that we faced.
keep working hard and you will make it.
Richie.

Richie, this has been an interesting train ride. But hey we stopped it from becoming a run away train

Lea
SPR Property Solutions, LLC

with a call to our partner and Richie and then I left a voice message for the homeowner of the SS we are working on together.

Richie, Denny & I are starting to market this SS property.

Today was a sunny and breezy day, a beautifl day for a convertilbe drive - that is if we had one LOL. We drove through 2 counties along the beach looking at waterfront properties. We found some run down/vacant properties and are researching them.

Lea
SPR Property Solutions, LLC

finally got a chance to read through your journal. i like how often you post. you are so busy and doing such a great job. i hadn't been to Florida for years and then my son was at Eglin Air Force Base for EOD school (bomb squad for the Army). he just graduated in March, but i did go down for Thanksgiving and spend 4 days with him. that was huge since he's been stationed in Iraq and Germany for 5 1/2 years. now he is stationed in Fort Knox, KY until he deploys to Afghanistan in January, so i will get to see him more than i have in 6 1/2 years. love the snake story too. when i lived in OK it was nothing to have them in the house with us. GROSS! i keep a flashlight in my car all the time so i need to be sure and take it into every house with me. you are a brave soul!

You must be so very proud of your son. I'm glad that you are able to spend more time with him now - it's been too long for you both. God bless him and all of our service men and women. I will keep him in my thoughts and prayers.

Glad you enjoyed the snake story. This time of the year as the weather is warming we see them frequently. We have never had them in the house but years ago had one in the screened in porch (not poisonous.) I discover it because I could hear our dog was excited about something and found her checking it out. Fortunately she always listened well and got inside quickly. I was too un-nerved to get a broom and chase it outside, saved that chore for brave Denny when he got home.

Thank you for taking the time to read my journal. I enjoy reading your journal and am following your journey. I wish you great success!

Lea
SPR Property Solutions, LLC

thanks for the thoughts and prayers. he loves what he is doing.

can't wait to hear more about your deals! i'm heading to look at the apartment complex tonight and that should prove interesting. not sure there is a deal there, but the practice won't hurt.

Lea,

i have a few questions for you. hope you don't mind, but they have to do with earlier posts.

i have magic jack and haven't used it much. you mentioned using it for a business line. how has that worked for you? i have a home phone # and would probably use magic jack for business, letting voice mail do the work, then retrieving the messages. i've had it about 2 years.

this is a silly question, but how do i put smileys in my posts?

you mentioned something about a "new thing" your RE agent did to give you access to the MLS? could you fill me in on that or even PM me?

thanks!!!

I wish you the best with the the apartment complex and am looking forward to hearing the details after you see it tonight. You are right 'practice makes perfect'.

We are happy with magic jack. It sends an e-mail anytime someone call so if they hang up or don't speak clearly you can call them back. Plus I know when the magic jack line rings it is someone calling in response to our marketing.

To make a smiley you can type : and then ) with no space beteen them and you'll get a smile. Below the box you are typing in when making a post you'll see 'Textual smileys' in blue writing. This is a list of all the different ones. If you click on it when making a post you'll lose your post so you could print the list or cut & paste it to a word doc.

Oh, the 'new thing' probably isn't new and you may be familiar with it, it's listing book messenger.

Lea
SPR Property Solutions, LLC

You guys are incredible. It seems like you have been building a tremendous team there. That's something I need to do. I'm hopefully going to my 1st REI meeting tomorrow night if I can get off work on time, but you two are just blowing my mind. So this is how it's done,huh? I need a LOT more work. IT sounds like you're on the verge of exploding into deal after deal. I hope it works out like you dream it will and you can get those diamonds, medals, wings and things like I've seen on some of the other journals. I'm not quite sure what they all mean, but they look like badges of honor. Good luck with everything. I'm sure you'll do well...johnnym66

Thank you for visiting my journal and for your kind words. It's nice to follow other folks' journals to see what they are accomplishing. Everyone is working hard to reach their goals. People like Rina, Carol, Joe and so many others (too many to name) are a great inspiration and share so much of their knowledge to help us all succeed.

I have a lot to learn but am learning a little bit more all the time.

I am keeping good thoughts for you to get to go to your 1st REI meeting tomorrow and am looking forward to hearing about it, how exciting! Will check your journal to get the low down on it The meeting I went to recently was fun. I could feel the energy in the room. This group has what they call the Deal of the Month. The 'winner' gets to tell their story about this deal. I enjoyed hearing about how the winner overcame obstacles and seeing the joy and excitement he felt when he got the deal done.

You are off to a grand start and I wish you tons of success!

Lea
SPR Property Solutions, LLC

This is Bimal it has been 10 weeks since I last visited DG site. Since the loss of job I have not done much, but seems like you are doing great and have also teamed up with other DG family members.

Today in New Jersey there is a free workshop by Dean Graziosi and I am attending that just to invigorate my dormant spirit. Not that Dean will be there but I guess there will be people from his Success Academy.

Wish you all the Best, hopefully I can get into RE market soon.

Regards,
Bimal

Glad to see you back Hey, that's great news that you'll be attending Dean's free workshop. Good for you - go Bimal! Please share your thoughts and experience about the workshop. I would enjoy hearing about it and bet others would too.

I'm so happy to be able to work with another DG family member.

Dean opens doors for us.

As always Bimal, I wish you the very best in REI and all that you do.

Lea
SPR Property Solutions, LLC

I just finished reading your journal, you are a great inspiration to us. It is amazing to see you mastering SS, they are so complicated. I really don't understand them, but would like to learn more about them. How do you make money on the short sale, how do you get paid? This has to be a great market in this economy, and you and Denny are right there to help people get out from under there debt and move on with there lives. You must seem like angels sent to them to help them out. It is amazing that there is so many fantastic people on this site working to help so many people out of what must seem to be hopeless situation to them. Keep up the good work and may you keep finding the deals in your area, and those in other areas across the country, like you are helping Richie.
Thank you for writing this journal so we all can learn from you.
Kolby

Thank you for taking the time to read my journal and for your kind remarks. I appreciate it. You and Judy are doing amazing things with the properties you find and rehab. I'm always sooooo impressed with how creative rehabbers are and how beautiful these run down homes become after a rehab. Giving a family a beautiful home to live in It seems the rehabbers I've met take great pride in their work and are looking out for the folks that move in and the neighborhood in general.

Initially we hadn't planned on getting into SS's but it made sense to go this way. They take a lot of patience. Our partner is the negotiator for the SS's (he has done 65 in 3 years and usually has 40 or so going at a time.) He has a great understanding of the SS process, is extremely organized with the paperwork, knows what the banks MUST have, when they must have it, how to approach and handle it, etc. Everything must be organized and precise. I've learned when the bank says jump I say how high? LOL. It's a slow process and I'm looking so forward to the day that we complete our 1st one. Then I'll be shouting it from the roof tops .

We met our partner when he responded to a CL ad Denny ran. We split 50-50. He averages 10K per SS, some higher & some lower. He is honest and upfront with the homeowners and the banks letting everyone know that he'll be making a profit at closing. He does double closings on these properties and now has a tremendous and strong buyers list. He also has a REA working to move these properties.

One of our leads (the owners of the 'snake' house) is dragging their feet and time is moving on. They are the ones that drove here from Miami (a 2 1/2 hour drive) on a Sunday at 5:30 pm to give Denny & I the keys to their property and get the SS paperwork. If he doesn't get everything to us this weekend the bank will begin foreclosing on Tuesday. I am hoping he takes action on this to avoid a foreclosure. Him & his wife worked with someone who never actually did the SS but lead them to believe it was complete. After that they thought the bank had already foreclosed. This has been an emotional rollercoaster for them. I've had many conversations with him this past week. Not only do I want this to go through for us but for them too. A SS is better than having a foreclosure.

I spoke to a gentleman who called at 10pm and he is slow moving on this too. It's up to them and all we can do is help them if they want our help. We are willing to work hard for them to get done.

Our friends that we are doing the SS for have 2 other upside down propeties and are behind in taxes on all 3. They are considering a SS on one of their other properties. On Friday my friend and I ran around at from 3:00-4:30 (after she got out of work from her part time job) getting more info that the bank requires for their current SS. I had to get this to our partner before 5 pm so he could get it to the bank on time. Maybe SS's will burn some calories too LOL This property just happens to be a very desireable location.

Many of the people that call us are ashamed of their situation and my heart goes out to them. I wish I had the words to make them feel better. Most are not upfront about how many payments behind on their property and some say they aren't behind at all when they are many, many months behind. Others have no idea how far behind they are and don't even remember the balance of the mortgage or their monthly payments.

I'm so happy to be working with Richie on the NY SS. It's great to be able to work with him and he is working very hard to get this done.

Again Kolby thanks for stopping by my journal. I wish you GREAT success and many fantastic deals!

Lea
SPR Property Solutions, LLC

i love to hear your kind heart. you are and will be blessed.

We have been getting more calls from sellers this week and have been averaging at least 1 call a day from them and sometimes 5. I've begun counting how many people I talk to every day before someone asks for our help. Many of them are just plain angry and distrustful of investors. One lady asked me to put an offer on her property but wouldn't give me her name or address and hung up. I know that I have to get a lot of these calls to also get the folks that want our help.

On Thursday night one of the folks that called is a gentleman who owns an upscale home and wants us to help him with a SS. He paid 1.7M for this property and it is now worth 740K. He is educated about this process and has contacted his bank this past week to negotiate a SS on his own. He called us to see what we can do that he can't already do. He has an excellent understanding of how this process works already which is great! Our partner followed up with him yesterday and will be meeting with him next week.

The owner of the 'snake house' got his paperwork in on time so we are moving forward with this SS.

An update on the SS we are working on with Richie. The bank wants more than the property is worth. Our partner is negotiating with them and is willing to do this one for free to get it to close if he has to. I like his ethics he isn't ALL about the money.

There are a few interested buyers waiting for the property we are working on for our friends.

We added 3 more cash buyers to our list this week. They all want to meet with us. One we met yesterday and he is a fellow DGer We discoverd this during our meeting. Another buyer wants to meet in the evening at a restaurant on the beach. And finally one has a property he purchased for $50K that is worth $100K. He's a rehabber/flipper and wants to show off his 'baby.' He'll be putting 15K into it and then selling it.

A dear friend of ours is going to visit his wife today. She has Alzheimer's and lives in an assisted living facility. He kept her home for as long as he could but because of his own physical limitations was not able to continue and couldn't afford to hire someone to help him at home. He was feeling a little down because none of their friends go to visit her anymore. Because of my previous 'life with Alzheimers' I understand this and have a high comfort level with Alzheimer's patients and LOVE to get them smiling and laughing (I also know that when he sees her happy he will feel sooooo much better.) It is very rewarding for me to be able to make an Alzheimer's patients day a little bit brighter.

Hope everyone is doing great. Have a wonderful weekend!

Lea
SPR Property Solutions, LLC

Hey Lea,

Boy am I glad I stopped by your journal tonight. Sometimes when we need that burst of agrenaline, when the oppressors of REI success are pounding on you, just reading about the mighty action steps my DGers are taking is just enough to get back that pep in your step.....if you know what I mean. You sound like you have been busy and I admire you because you have always been consistent. No matter how busy or not you may have been, you were always consistently doing something to bring you closer to the REI success you seek. It sounds like you are having fun as you go also, no matter if its the adventures of the snake house or business luncheons on the beach. Keep up the good work, cheers to you and Denny. I will see you at the TOP!

Best Regards,
Shane Gore

glad to see a post from you; i know you've been really busy. just think, whoever buys the snake house gets a free pet. one of the added benefits. you are fortunate to have such a great partner. way to go with the buyers. i'm still working on it. glad you could help with your friend's wife. Chuck's dad has some issues with Alzheimer's and it's hard to know when to step in. his dad is very independent and hates to admit he has a problem. he got lost once by himself; couldn't find his way home. most of the time it's not too bad. may i ask how you know when to get him help or put him in a facility? thanks.

Thank you so much for always being our cheerleader I really appreciate you taking the time out. Yes we are having fun. I really enjoy talking to people, meeting new people and learning from the folks in REI who have gone before us and those who are just starting out and in between too As always my friend I wish you the best and am so glad that you share your journal with all of us. Yes, we'll see you at the top.

Lea
SPR Property Solutions, LLC

Hi and thanks for stopping in to read my journal. I love your sense of humor - whoever gets the snake house gets a FREE pet included LOL Yes, we are blessed to have the partner we have. He enjoys helping us to succeed.

I am sorry to hear about Chuck's Dad having Alzheimer's. My Dad had it too and I took care of him for 4 years (I lost him at the Dr's office once but found him before he got into traffic, we were near a busy road.) Most Alz patients don't realize what they can't do but at the same time it is best to point out to them what they can do - focus on the postive it helps them alot. As far as when it is the right time to put your loved one with Alzhimer's into an assisted living facility, that is a very individual decision. Every patient is different and so is the family dynamics. Many people try to keep their loved one at home until they physically can't do it any longer. It is usually falls that lead to a facility because the caregiver doesn't have the physical strength to keep picking them up after they fall. Please PM me anytime about this. I'm going to PM you some toll free phone numbers that can help. There is help out their for families going through this and nobody has to go through it alone, nobody.

Lea
SPR Property Solutions, LLC

I just tried sending you a PM but couldn't. If you want the numbers please PM me and I'll PM you back.

Lea
SPR Property Solutions, LLC

just sent you a PM. hope you receive it. thanks for the help!

Denny has been posting a lot of ads on CL these days. It is funny 1 week will lead to some great prospects other weeks nothing but as always I say it is definitely worth it.

One of our SS's is getting closer to completion. When this one sells it will be our first SS complted deal. We started this particular SS in early January. Later today I am getting some paperwork required by the bank ASAP (Monday) and in 30 days we'll have an approval. This is the one we are working on for our friends.

I mentioned in my last post about meeting another DG family member last week. He is looking for his first rehab (he has lots of experience with rehabbing personally.) and he'll be checking out our SS property. We are also talking about ways we can work together with SS's or basically any way we can help each other.

We attended REI meeting on Thursday and it was another good meeting. We had fun talking to other investors. We also met some investors who we had spoken with on the phone from CL ads but never met in person. Omar Periu gave a presentation too.

I have been talking to a lot of people lately about SS's for their properties but nothing definite yet. Today I'll be returning more calls to folks who have expressed interest in a SS on their property.

The gentleman who paid 1.7M for his property (that is now worth 740K) is undecided as to what he wants to do. He feels a strong obligation to pay this debt off.

Lea
SPR Property Solutions, LLC

HEy whats up Lea! Im still amazed at how you are attracting SS. I mean you know I call you the SS Queen but wow....! Are you hanging bandit signs that specifically offer a SS service. Are they coming from ads on CL that are geared directly towards SS or are they from the letters that you send out to the Vacant properties. Well whatever it is you are "doing the damn thang" so you and Denny keep it up down there and I will see you at the TOP!

Best Regards,
Shane Gore

Thanks for stopping by it's always great to hear from you the mover and the shaker. I enjoy following your journal and love your enthusiasm for REI and zest for life in general.

Yes we market to folks through bandit signs, letters and CL mentioning SS's. We get our best response from letters. We send letters to folks when we see abandoned houses. At 1st I was going to the court house to buy a lis pendens. We were getting calls but no where near as many as our partner gets. He has been so busy with other things that he gives us his list that he purchases and we get more responses from this list. We are ALWAYS tweeking our marketing to get better results.

It's been a long time since we've gotten a response from bandit signs because someone takes all or most of them down. When we met with the local DG family member I mentioned above he told us that code enforcement works on Saturdays and takes them down (no calls or fines.) So now we will be putting them up on Saturday nights instead of Friday nights. Some people leave them up all week and the signs stay up (maybe they know the people in high places.) It's one of those hit or miss things.

One thing I've been working on improving is how I talk to the folks that call. It's hard to explain but their tone varies dramatically from different marketing and I've got to be prepared to handle all in an EXCELLENT way. So I've been working really hard on that and starting to get better results. These folks are angry or sad, ashamed, distrustful, hurt, confused, etc., etc.

One gentleman that I spoke to this week has a home in a beautiful neighborhood south of us and thankfully he is able to keep his home. However, he has 4 upside down rental properties in our town. We talked for some time. For a living he evicts people that are being foreclosed on. He has already spoke with his accountant about the tax implications of a SS versus foreclosure but his accountant told him to speak with his attorney. I'll be talking to this gentleman on Friday to see what he has decided to do.

Our friends that we are doing a SS for are talking about doing a SS on one of their other properties. It isn't uncommon to find people that own several upside down rental properties.

Hope this helps.

Lea
SPR Property Solutions, LLC

Congrats on the deals Lea!! Seems like you and Denny are picking up steam. Your hard work and efforts will pay off soon. I am rooting for you guys to close on that deal if the owner decides to ss that 1.7 home. That can change your life fast if it goes through.
I will give you a call on Monday.
Richie

Thank you so much for being in our corner and our cheering section. I'm looking forward to talking to you tomorrow. I think a week went by and we didn't speak on the phone - whats up with that? LOL!!

Yes you are right a deal like that would definitely change our financial life, fast! I'm learning that folks that own luxury homes are under the impression that a SS can't be done on their property.

Take care my friend and we'll talk soon.

Lea
SPR Property Solutions, LLC

Yesterday I showed our SS property to the local DG family member I've been mentioning. He liked what he saw and is considering this property. He has other properties he is looking at too and will pick 'the one.' Three other people looked at it yesterday too. I would like to see this property after it's rehabbed. It has lots of potential and needs mostly cosmetic work and a bit of landscaping that would run $5K.

Lea
SPR Property Solutions, LLC

I could not have asked for a better response Lea! I got where you are coming from and have so much respect for your work ethic and the way you tweak your system to get better results. You have been steadily on the rise with a CONSISTENT effort and this can bemore advantageous than being up then down. You know "sometimes here somethimes there." I know the sweet smells of success are throwing you and Denny into a trance of natural progression, so you guys, "keep on cookin!" and I will see you at the TOP!\

Best Regards,
Shane