Paula's Journal

Congratulations on your mile stone! I'm looking forward to hearing about the convention should you attend. Thank you for sharing your story. I wish you much success in REI.

Lea
SPR Property Solutions, LLC

Congratulations on taking action and starting your journal. Each day can be an adventure and if you learn a little each day that will move you closer to your goals. Try to determine an action plan and based on the real estate market in your area, try to determine the strategies you may want to implement and the local target marketa areas of the greatest interest. Good luck with real estate investing. Believe and Achieve! - Joe

The Saturday after Thanksgiving my husband and I took a drive to a town nearby that he would like to invest in. We spent about four hours driving around getting phone numbers from the signs in the yards. It was painstaking. I was yelling at him about his driving so he stopped and let me drive. That was better for me. lol We couldn't agree on which numbers to write down. OMG, I had enough after this length of time. It was all good though. We got through it.

So, Monday, Nov. 30, I called these numbers. Found out some were way over our heads (like in the millions). Some were short sales. I made an appointment with a realtor for Tuesday to look at this one house.

On Tuesday, before my appt. I drove over 70 miles around this area to 'see what I could see'. Took my digital voice recorder (not for EVP work) so I could record the phone numbers and other information quickly. It worked. I spent about 3 hours doing this and it was time for appt. to see the house. I met the realtor there and found out I already know her. She's the one who handles our house now that we rent. Anyway we went inside to take a look around. Wow, it is small inside, 1469 sq ft, two stopies. Needs a lot of work. Mostly cosmetic. Except for the kitchen. The cabinets need pulled out or totally rehabbed. The floors upstairs need new carpet or wood vinyl. AND a LOT of cleaning. It's curb appeal? It stuck out like a sore thumb in this subdivision. Just think about a spanish style home in the midst of plantation houses. That's the comparison, not the actuality. Doesn't really fit. It would need some fixin' up, some paint, and landscaping. It would be a nice buy-fix-sell property. But we can't do it and the buyers I have on my list aren't interested in these. OH,let me give you the numbers. Now I went through my study guides/workbooks on figuring out the FMV etc... This is how I worked it (could be wrong, but it's a learning process): The asking price is $85000. The FMV is $137,380. After subtracting the fees, costs, and profit the max offer amt. came out to be $95,000. Then I remembered the realtor told me the owner would take $79000 for it. In this neighborhood, you could probably get $105,000 - $110,000. The house next door sold for $102,000 a few months ago.

Yesterday, I started going through my guides and workbooks trying to figure out what my next step was. I studied these for about six hours. My head was spinning and I couldn't do any more. I talked to my husband and he had questions. I had questions. So I called our Advisor. Found out that at this point we are looking for buyers to assign contracts. We need to build our buyers list. Not an easy task. How do you find buyers/investors? A few of the ones I have do not return messages. Are they for real?

Anyway, I started my ghost ads. And by the way, I don't feel comfortable telling anyone that I have property, WHEN I DON'T. OR, that 'EZ Qualify and no down pmt" can get you into your next home. I don't have any financing options for them. To me, it's deceitful. I'm not condemning anyone else, please believe me when I say that. It's just not my cup of tea.

So, I asked, 'why can't I just advertise for investors/buyers/rehabbers?' Why can't I just say, 'hey, I need a buyer'? Anybody out there?" LOL Well, I was told I could. So, I changed all of my advertising ads. We'll see how it goes. My next strategy is to visit some local REI clubs, chamber of commerce meetings, etc... I have joined a couple of REI clubs online and reviewed their forums and chat rooms.

Today, Friday, I'm taking it easy. Letting things sink in, do some housework, feed the pets, make some calls, some leisure activities. It's Friday afterall.

Til next time...

Well that's what I've been up to this week. See ya next week.

Hey Paula... Seems like your overwhelming yourself. Please take it one day at a time not giving yourself more than what you can handle. You sound like a go getter and I give you much credit for that but unless you're o.k. with it. "I studied these for about six hours. My head was spinning and I couldn't do any more". Don't hurt yourself, I want to here more about your adventure! Have a good weekend Paula!

Way to go Paula, fight back! Don't let life take control you take control of life. I also look forward to hearing all about what you all learn at the conference. Take care and keep pushing forward.
lbrown

So the holidays are over and a new year is upon us. We can finally get back to it (whatever 'it' is).

I've been struggling with some things dealing with the 'academy' course. When my husband and I were approached by a representative from the academy, we were told certain things would be a certain way. Well, they haven't been as delivered. Now, we're discouraged about this whole thing AND we're stuck with a monthly payment for two years unless we we can pay it off early. This monthly payment is a far stretch for us since I've been unemployed as of Dec. '08.

Then, to top things off, my husband has decided that he's not going to 'share' in the responsibilities of working the business with me, as promised in the beginning. So, I'm on my own now. I was counting on him to take up the slack where I lack.

I'm on the computer everyday doing research, studying, webinars, etc....

Back to the academy. I've become so disappointed in it that I quit doing it. But I'm still paying for it. I am not a sales person and I don't like deceiving people with signs of having a property, when I don't. I'm sorry, I'm just not that way. I guess that's why I don't 'sell' anything.

If anyone has a better idea for bandit signs or classified ads, it would be appreciated.

Also, what on earth do you say to them when they call about a property you don't have? You tell another lie? Can someone help me with this issue? Uggh!

So that's where I'm at today. Very excited to begin with, now just dulling.

Gotta go make dinner. Til next time... Paula