OfflineHi all,
Today is my first day posting in my journal. I decided to use this forum because i ahve been reading about so many peole who are doing so well with the encouragment form members. I am not new to this site. I have been affiliated on and off for two years. I'm back with a new found desire to be successful. I actually have bought two books from Dean.I thought I had lost thie first one so I bought another one I have read and re-read several times and lately, I have referred to it for questions that arise.
I am a Liscensed Real Estate Agent who has been inactive for years. I have a great foundation from which to build,but I do lack the experience with creative structuring.I am the mother of three with one grandchild,so you see, I have to be able to provide for their future.They are such motivators.
I have made money on one deal. I am convinced that i can duplicate the process with proper guidance.
Let me update you on what I have done so far:
1. I pulled my credit, discovered I need to fisrt work on No money down deals until i can fix my credit. (it wasn't a dissapointment,I needed the reality check"
2. I selected an agent (more on her to come)
3. I have researched and selected 30 properties to submit contracts on.(waiting on agent)
4.Placed an ad on this site and Corkin.com
5. Made an appointment with closing attorney who did the last closing. I want to bring in all the forms for his review to make sure that they are clear and cover my ankles.
6. Made contact with contrator to help with repairs
7. Spoken with a Commercial broker who pays for deals
hoping to find properties for him at a fee
8. Composed my sellers list from FSBO,For rent,and several websites.
9.Developed buyers list from website :"I Buy Houses"
sent over my first five properties to be assigned or to leverage the equity.
10. Drove around to update sellers list from nearby neighborhoods
What I need now is to make sur I am on track and not disjointed.If I have forgotten any asoect please let me know. I do need clarity on what forms are necessary for an assignment or for sell of equity.I tried to locate Release of Fund document,but was unable to findit I remember seeing in on this site.
I've been up since 8:00, picking up fruit to deliver for my son's band fundrasier.
8:30-10:30 Got on this site, researched deals and checked messages
11:00 Drop my daughter off at High School
11:30-12:30 Coloring paages with my two five year-olds, don't want them to feel neglected. Lunch
1:30-2:30 Place more ads for properties and make flyers for the five properties.
As they day goes on I will be on this site to hear from you. From what i understand, i need
1.Purchse and sale agreement
2 Assignment of Contract/or Release of funds
3. Inspection Cotingency
Am I on the right track? If I am working with an agent and a bank, do I disclose my assignment plans or do i secure the contract w/or assigns first. Once I find a buyer, how do I back out of contract with getting stuck with having to close first with them and then doing a second closing? What about a Letter of Proof of funds? Is there someone who would help me for a small percentage? I need your guidance as I don't want to seem inexperienced!!
Until later,
Patrice
"I can do all things through Christ who strengthens me" Phillipines 4:13
Keep it up, with your past experience, it really shouldn't take you too long to master the concept of creative Real Estate Investing.
Looking forward to keeping up on your progress.
Rick S.
..."Oh that you would bless me and enlarge my border, and that your hand might be with me, and that you would keep me from hurt and harm"
1 Chronicles 4.10
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My Success Journal:
http://www.deangraziosi.com/real-estate-forums/investing-journals/35813/...
Thanks Rick for commenting and encouraging me. I think I am so close,yet I do not want to make rookie mistkes. I wish you every success that is already your!
Patrice
Hi all,
Today is sunday and when most people ar relaxing and taking it easy, I am determined to get some work. So today, I went on line to order business cards and I also made my flyers to be distributed tommorrow. I still need to post other ads on the internet. I decided to search for free classifed ads. It takes some time,but I know it will pay off. I spent some time in the how-to articles to find out more about assignments. I would love to know about the "ninety-day clause" apparently, some investors have ran into bankers who require you to hold the property for ninety days before you sell. Obviously, there are ways around this. Thanks to those who responded to my journal. It means so much to have support. I also am working on comleting some on-line classes to further my education. You can never give up on your dreams. My goal is to finish my Masters within the next year. I kow I can do this!!!
i'm off to get more work in, I am excited about getting another deal this week.I just feel it. My realator is dragging her feet, so I am going to contact people and submit offers on my own. If she brings a buyer, i may pay her a commission. I'm not sure she totally understands what I am trying to do.
Things to do:
1.See lawyer, go over contract and tweak where needed
2.distribute flyers
3.Build my buyers lists
4.Research other properties
5. Target FSBOs
^. call other agents to generate list of possible homes/investors
7. Call the court house to find out how to search for forelosures/probate
8. Ask about Lists
9. Locate invesment clubs/attend a metting and network
10.Find women entreprenuers clubs
11.Check free national ads
12.Look into buying a lists of people interested in buying or selling real estate
13.Check on local auctions to attend
14. Design a post card for mass mailing
15.Purchase a car sign to advertise business
16. Check with locall retailer who will allow me to leave cards behind
17. Talk with friends,family and others about possible leads
18. Send a mass e-mail to those on my contact list
It may seem like a lot but I know I must complete these steps in order to analyze where my business needs to grow!!
Until later,
Patrice
Hi all,
Today is tuesday and i still have so much to get done. Made contact with lawyer,but did not finish and establish a working relationship. I really feel that it is crucial to my success to have solid paperwork that is fool-proof. has anyone adapted the purchase contract to say"Earnest money will be paid in fourteen days,etc?" or similar terms? How are you all handling it? I have no money to put up,yet, i don't want my contract to be rejected because of it. I know if i make changes, it should be in an addendum, right? any thoughts? I need help with Instant equity Properties, by assigning them to others!!!
I do have a website, though and have ordered my business cards. I am prepared to write 8 offers, but need some guidance Help!!!!!!!where is a "sample contract" online? Waiting for an answer!
hi all,
Today, I am writing four contracts to be submitted at once. I am a little nervous, but I know I have to push through. I research short sales and i am convinced that I need an experinced agent or mitigation team to do short sales. I need money right now so i plan to target FSBO and try to deal that way. I have some valuable info on short sales and I was glad that i researched the topic. My current delimma is that I need an investor or buyer who will gift me funds to show proof of funds. I will pay a flat fee of 3% of saleing price. If you aare out there, plese send me a PM. I am in eorgia and I want to close quickly. Help!!
I am making arrangement to meet with lawyer and interview agents who have done successful short sales!!!!! My team is growing,however, i still need:
1. Contractor
2. Appraiser
3. Inspector
4. Lawyer
5. Funding Partner
6. An agressive agent, maybe more than one,
i still want to have some input about Partnering with funding? Oh Yeah! my agent asid she would have to submit two contracts for a lease purchase? I've never heard of that. what could she possibly mean? Is this a tactic for her toearn two commission? I'm lost!!
Until later,
Patrice
Yes, that's what I'm feeling today. Hi, everyone, i am back online posting to get some feedback. I am in need of a little encouragement. I was working w/an agent and have not heard from her since Dec.18, I believe that their is so much to do while others are "Hoidaying" If i sit back, I feel like I am missing some great deals before the year's end. I do need help with finding properties. I have looked and looked online, newspapres, word of moun, and I am advertising through an online article, but I still feel that their is some areas where I have "untapped". I would like for my business to be automated in a way that buyers come to me and sellers are knocking my door down. Anyone out there w/ and automated website where you offer something,in turn for "REAL PROSPECTS" I want to be sure that the people who contact me are trully interested ing buying or selling Real Property. I am also needing guidance w/Commercial Property. Most sellers want to deal w/ and only pay Agents. How do we overcome that challenge? I have research many potentials, but then I am stuck w/ the possibility of the Listing agent getting the commission, since they do not reveal the seller.If you can help me, I'd like to submit multiple offers, but I am running into FSBOs, who use an Agent as a screen, so I'm left looking for true FSBO.I am looking to assign, bird dog, or sell my position.Any qucik tips on how to get leads? I've seen many websites doing the same-type deals-calling it;rent-to-own,lease/purchase,and also the we buy your home sites. Many oof them are now selling books, audio tapes and e-books!!!! Is that the way to go? I feel that I'm so close,but yet still far away.I'm pressing onward and upward though, knowing that ALL THINGS ARE POSSIBLE! i am open to any advice and mentoring that is available. Thanks so much for your support.
Patrice
Yes, that's what I'm feeling today. Hi, everyone, i am back online posting to get some feedback. I am in need of a little encouragement. I was working w/an agent and have not heard from her since Dec.18, I believe that their is so much to do while others are "Hoidaying" If i sit back, I feel like I am missing some great deals before the year's end. I do need help with finding properties. I have looked and looked online, newspapres, word of moun, and I am advertising through an online article, but I still feel that their is some areas where I have "untapped". I would like for my business to be automated in a way that buyers come to me and sellers are knocking my door down. Anyone out there w/ and automated website where you offer something,in turn for "REAL PROSPECTS" I want to be sure that the people who contact me are trully interested ing buying or selling Real Property. I am also needing guidance w/Commercial Property. Most sellers want to deal w/ and only pay Agents. How do we overcome that challenge? I have research many potentials, but then I am stuck w/ the possibility of the Listing agent getting the commission, since they do not reveal the seller.If you can help me, I'd like to submit multiple offers, but I am running into FSBOs, who use an Agent as a screen, so I'm left looking for true FSBO.I am looking to assign, bird dog, or sell my position.Any qucik tips on how to get leads? I've seen many websites doing the same-type deals-calling it;rent-to-own,lease/purchase,and also the we buy your home sites. Many oof them are now selling books, audio tapes and e-books!!!! Is that the way to go? I feel that I'm so close,but yet still far away.I'm pressing onward and upward though, knowing that ALL THINGS ARE POSSIBLE! i am open to any advice and mentoring that is available. Thanks so much for your support.
Patrice
Yes, that's what I'm feeling today. Hi, everyone, i am back online posting to get some feedback. I am in need of a little encouragement. I was working w/an agent and have not heard from her since Dec.18, I believe that their is so much to do while others are "Hoidaying" If i sit back, I feel like I am missing some great deals before the year's end. I do need help with finding properties. I have looked and looked online, newspapres, word of moun, and I am advertising through an online article, but I still feel that their is some areas where I have "untapped". I would like for my business to be automated in a way that buyers come to me and sellers are knocking my door down. Anyone out there w/ and automated website where you offer something,in turn for "REAL PROSPECTS" I want to be sure that the people who contact me are trully interested ing buying or selling Real Property. I am also needing guidance w/Commercial Property. Most sellers want to deal w/ and only pay Agents. How do we overcome that challenge? I have research many potentials, but then I am stuck w/ the possibility of the Listing agent getting the commission, since they do not reveal the seller.If you can help me, I'd like to submit multiple offers, but I am running into FSBOs, who use an Agent as a screen, so I'm left looking for true FSBO.I am looking to assign, bird dog, or sell my position.Any qucik tips on how to get leads? I've seen many websites doing the same-type deals-calling it;rent-to-own,lease/purchase,and also the we buy your home sites. Many oof them are now selling books, audio tapes and e-books!!!! Is that the way to go? I feel that I'm so close,but yet still far away.I'm pressing onward and upward though, knowing that ALL THINGS ARE POSSIBLE! i am open to any advice and mentoring that is available. Thanks so much for your support.
Patrice
hi,
Today is thurday,December 31, and I feel like I have not accomplished what I set out to do. Now i am faced w/the delimma of finding a LLC to partner with me. I am in need of POF letter to use for a few days to fund my deals. I have not formed a LLC yet and cannot afford it on my own. I have agents working to find sellers and buyers that fir my criteria,but still need partnenrs? Any takers? I am planning to submit an offer today with hopes of securing a closing date. I stll am needing some help w/this deal. Please respond if you can help. I feel that I am so close, but yet so far.
until later,
Patrice