Skye's medicine - here we go

Congratulations for taking action and starting your journal today. You should be proud of yourself that you are taking action. There is nothing wrong with reading and research because it is a great start. The information and knowledge that you gain today will benefit you for future deals down the road. Try to gather as much information as you can and learn your local target market area. Also, try to network with others in your area and see if there is an investment club close to your area. The more you network, the contacts you will discover. You can do it! Believe and Achieve! - Joe

Thanks Joe. Interesting - noninvestment - sideline. Shot an email on an ad looking for field inspectors in my area, spoke with the company owner this afternoon, he is supposed to send me info tomorrow on getting started. May not pay lots, but anything is something (this is becoming my motto I think) and may be a good way to keep an eye out for props while I am out on runs. We will see how both prospects go and I will keep all informed. Remember $1 may not be much, but when you don't have any $1s add up. Can't affors to pass up any opportunities, you never know how the small ones may lead to something life changing

T

Just wanted to post some info on my thoughts on the call tonight. Hearing the success stories gives me hope. I can relate to the DG member who suffered with clinical depression. In June of this year I ended up in the hospital, 1 step from dead, after a suicide attempt. My financial situation was so bad I thought that my 50,000 life insurance policy was of more value than I was. Wow - did I make things worse. Now I have all the hospital bills, the shrink bills, the bills for the ortho and the therapist for the damage I did to my shoulder when I collapsed. I don't want to say that this is my last hope, that is my family - my husband and my daughter. But I see this as a way to make my life easier, and hopefully not struggle for every day for the rest of my life.

On a investing note - located the name of one of the busier Investment LLc operators in my area. He works from home, so I am going to drop a line by mail and see if he might be interested in either mentoring or investing on properties that I lock up. Still waiting to hear back from the field inspector position, I am going to call tomorrow and follow up. I already sent a follow up email thanking him for the time on the phone and in advance for the info. Cross the fingers.

Last night after the call I was doing some research for REI groups in my area. Found one based with a local real estate school and saw a posting a video on one of the success stories. Just out of curiosity I shot an email to the guy explaining my situation and asking for any advice he might have for a beginning investor. Got back a very plesant reply, including an offer to assist me with finding expired MLS listings in the area and to help me with calls or putting together comps. Wow - all this form a blind email to a successful investor. Granted he is in another area of the state, but that is what email and phone are for.

Moving in the right direction. Every step forward takes you closer to your goals!!!

or as more of you would say, Happy Halloween. Getting my daughter ready to go to the town trick or treat, and just wanted to post my accoutnability. I have been finding some buyers in the area to contact - 5 on the list so far. Only contacted one so far - waiting for the owner to call me back, large investor/rent to own firm right over the state line. Fount my local we buy for cash franchisee, have them on my list as well as several folks I found off of property sales records. Gonna start calling Mon.

Really need to get started here. Went to get groceries and found the checking was in the red. Hubby starts back to work mon after being out for 3 weeks on workmans comp, so more money WILL start rolling in. As for me at least another month before I get to go back. One small step leads to a mile!!!!

LOL - just realized my "Thank you DG" thread made the front page - WooHoo

Got a message today from a woman down the street who's house I have been looking at. They were planning on coming down to work on the house this weekend but weather is not good today so they stayed across the bridge. The fact that they called me back is a good sign. Haven't talked any numbers yet, other than their asking price of 145, but for cash i should be able to get that down for a 10,000 profit for myself and investor, I would hope. gona keep in touch and see if I can get on an option for a decent price.

Working on getting my buyers list up, getting things in place - fighting trying to set up a database - I am crap at that.

Hopefully some good will come of this one. Will keep all updated!!!

Trish

Just read your journal. Thank you for sharing your story. I wish you much success in REI and all that you do.

Looking forward to hearing how this property goes for you.

Take care,

Lea
SPR Property Solutions, LLC

Did some research today on the property I have been talking about. In looking at comp sales/tax assessments in the area the property should really be somewhere around 127 she is asking 145. The house does have tons of improvements and I am not sure how that factors in to the end FMV. So in order to make anything for me and an end investor I would have to get her to drop about 45 on the price. Not likely, but I may see how long it sits and go back in a few months if still hasn't moved and see if I can talk her down.

Been putting together a list of landloards and investors in the area that i want to contact. I have been crossreferencing rentals with the tax assessors info and checking for "frequent flyers" on property sales, as well as multiple property owners using the same records. Now just trying to figure out how to break the ice and contact these folks. Letter, phone? What to say? Talking to a seller does not scare me, but talking to people to sell to does. LOL - and I have been in retail for years?

Well will keep this updated as it goes on. Quite a few vacant and distresseds in my area at the moment. Gonna keep looking!

Never Give UP!!!! There is an answer to everything if you believe in yourself and WORK.

Well today I took another step - created the base of my website. So far it is just a freebie, but it does give the basics. If anyone would care to take a look and give me some feedback by PM I would appreciate it. http://skyesmedicine.yolasite.com/ Also was searching one of the REI networking sites and ran across a local guy I have known for years who is just getting started as well. We are going to get together and chat see if we can pool up resources and knowledge.

I think you shouldn't buy a house thats already fixed up. Think about it like this, what will be your profit. Have you ever thought about a partnership with someone?

Signed up for a few REI social networking sites and have a few leads on local buy and hold investors in my area. I sent out emails and am waiting on replies. Went to look at a "fixerupper" yesterday. WOW burn the place down!!! Guess you gotta look at a lot of trash in this business. Good thing is on the way back I saw a vacant that exterior at least looks in good shape. Going to try and make contact with the owner. Decent location - may be able to get on the cheap. No phone # available so I am going to have to send a letter to the address and hope the USPS does its job.

Been a busy one today.

1.Sent out letter to the homeowner on the property I was looking at.

2. Sent email to all the landlords on the local college's off campus housing site

"I saw your posting on the Salisbury University off-campus housing list and I would like to know if you would be interested in acquiring some additional properties in the Salisbury/Princess Anne area. My name is Trish Saunders and I'd like the opportunity to speak with you about the types of properties you may be looking for. If you are not currently in the market please feel free to keep my email for your future needs. Looking forward to hearing from you!"

Got back one response already - 3 he has listed on MLS, with built in tenants with leases through May. Told him about negotiations I had going on - most general terms - and slightly exagerated. Asked for specifics on what he was looking for etc... - possible buyer 1

3. Posted a BUNCH of free classifieds online - both properties wanted and investors needed.

4. Signed up for a couple of downline marketing sites. Not sure how well those will work but we will see.

OH.... And hubby lost his job today. Gotta get this rolling, now!!!!

How have I missed your journal up until now? I know I've been super busy the past few days and stepped away from journal-land, and you just started it, but MAN WHEW!!! YOU GO GIRL!!

You just joined the site on 10-25-09 and you already have badges and WINGS, WINGS, I tell you!! AWESOME!! It took me a few MONTHS to get WINGS and I was THRILLED the day I got them. I ran around the house cheering to my husband "I have WINGS!!"

You are taking action in big ways...keep plugging...you may miraculously wind up with just enough money soon to buy Dean's books....job or no job!

DREAM BIG!

Can't wait to see where you land with all of this! Stick with it and keep us posted!

Cheers,
Louisa

LOL - don't really know what the wings and badges are, but they keep showing up. Thanks for the wonderful comment Louisa. I am waiting to see where i end up with all of this.

Update on the email responses ...

Coincidence of the century. LL 1 that I talked about above with the 3 properties avail, well LL 2 sent me an email looking for the exact property that LL 1 had listed max price 2k over what LL 1 wants. It is currently MLS listed so I am not sure if this guy has just not seen it or what, but I am meeting with the sellers agent Monday to take a look. Most of these folks don't handle their own repairs etc so it is possible he has not been on the street to see the sign.

My plan - offer 117 (approx 95% of asking)with a max of 118.5k and try and lock it in with a financing stipulation and then assign the contract over to LL2 at around 122121 - a bit below below current asking. I have one of my fellow Newbies that I have known for years that is going to look with me as a "financial partner" - presenting a "financial partner" right off the bat might make the reassignment clause a bit more agreeable. Not looking to make a fortune first time out, but the coincidence is too much to pass up, and even a few k would let me get some much needed bills caught up.

Thanks to everyone on here for your support and to the 2 social networking REI sites I belong to - couldn't do it without you all.

Alright - how do you get over the cold feet of approaching the first deal? I want this one, the #s look doable for turning a small profit - not looking to get rich on the first one out, and i have letters out to several vacants in the area, but all of a sudden I am doubting myself. An I doing something underhanded? Is this process reqally legit? Do I have what it takes to turn real estate? I know these are just my way of underestimating myself, But I don't know. I don't want to fail

It's normal to be uncomfortable with things that we haven't done yet - maybe it's fear of the unknown. Dean said to find your 'why.' When I'm really nervous about a step in REI I ask myself what is the worste thing that can happen? Even if deals don't go through we learn along the way and are more prepared for the next deal.

When we started talking to RE agents many of them said assigning properties is illegal in FL. It isn't (per our attorney)illegal in FL, just not well accepted by RE agents.

Take care,

Lea
SPR Property Solutions, LLC