OfflineHello everyone,
This Is my Journal and all are invited to join me on my journey. A little about me, humm where to begin, well I traveled alot as a child and always had a big interest in real estate. I'm a former Army brat, and had a typical upbringing. Never rich or well off by any means, But we managed, My growing up instilled a want to never struggle for money.
I'm bordering 30 now and have a family of my own. I work a very demanding job, witch requires me to be away from home for undetermined amounts of time. I didn't plan on being in this line of work for this long, but money was good and seemed to be a means to a end. I'm quite blessed to have a understanding wife. Altho its difficult to explain to the kids why I'm always gone..Well my wife and I worked extremely hard to get where we are now. But were still not rich or well off, but we are in a good position to venture into real estate. I currently have a 800+ credit rating and have paid off our first home. We have a bit of money in savings. So we are off to reach our goals. She will be doing alot of the work in this venture. I do research out here @ work when I get a chance to, but she does the bird doging and visits the court house for info.
We will be going after REO's and Foreclosed homes. Our local market is going down and rent and hold seems to be the strategy for now. We will try rehabbing some and test the waters. But the past year has been bad for many in my town. We live in a Oilfield town, and with the administration change Many ppl lost jobs here. So there are alot of investing opportunities. So here we go....
http://www.deangraziosi.com/content/southcentraltexas
South Central Texas REI Group
Well its new years eve, and once again, i will not be with my family this holiday season, all the more motivation to get the ball rolling with REI. Well most of my time here at work when I'm not busy with work, i would pretty much waste all my time watching movies, or listening to talk radio. But after reading Deans book, he brought alot of things into perspective. While I may not be able to go to the court house and look at records and view properties in my town. I can do alot of real estate related work here from my laptop. While i don't live in a huge town with alot of online resources. I can make due, We have a online paper, tax assessors office, and REO bank pages, and Realtor.com helps with listings. So with my time now @ work i Will be researching and my wife will be doing the leg work looking and taking pics of homes and submitting offers, getting loans, etc.. we are noobs but hope to get experience and learn through the process. We seem to have found a Realtor who is quite helpful, and hopefully he will fit the bill. Only time will tell, once we begin submitting low offers well till next time..
Frank
http://www.deangraziosi.com/content/southcentraltexas
South Central Texas REI Group
Welcome & congratulations on starting your journal. You have a good plan of action and it is wonderful that you & your wife will be working REI together. I look forward to hearing about your journey in REI and wish you the very best!
Lea
SPR Property Solutions, LLC
Thanks Lea for the support
Well Yet another day here away from home, Today i basically read more on foreclosures and reo style properties. Found a really nice home on a banks reo page, I Tried to contact the bank but, unfortunately it was closed. So i sent a letter to the person in charge of that department, and hopefully i get a reply. Maybe I'm being a bit negative, just because it seem kinda too good to be true. Its listed @ around 80k, but fmv in the area for that home is 200k. Wish i would have found it sooner cause since its a REO, Im sure they will send it to a agent here and they will up the asking price significantly. well I got a few more prospects to investigate and hopefully something pans out..
Frank
http://www.deangraziosi.com/content/southcentraltexas
South Central Texas REI Group
Welcome to the DG website family and congratulations for starting your journal. It is great to put together an action plan and sounds like your off to a fast start with those REOs. I wrote a brief summary on approachign banks, it may be helpful so check it out if you have time: http://www.deangraziosi.com/real-estate-forums/buying-foreclosures-reos-...
Keep doing a little each day and the knowledge and confidence will continue to build over time and get you closer to your goals. Your journal is a great way to stay accountable and share your knowledge and insight with other DG members along the way. Good luck with real estate investing. You can do it! Believe and Achieve!
- Joe
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA
Hey Joe thanks for the input, Its a good set basic set of what to do. Well I was glad to see thats pretty much how I speak and ask when I contact the banks Ive spoken to. Well for today not much, no replies from banks ( weekend) and no reply from a local REI group I found online. But I did join a fellow member here on starting a new REI club. Oh yea I did Call a local Realtor and spoke to him about foreclosures and REO,s. He was kinda giving me the whole dont listen to the late night infomercial speech, and that You'll never get those kind of deals down here. But I did thank him for his time and back to searching for a Realtor(s). Its not like I'm looking to get a 200k home for 30k or any thing ..lol. just looking for a deal but would gladly welcome a steal..lol..I basically told him I was looking for homes in good areas that were below market, or had been on the market for long periods. With a minimum of 20k Equity in the deal.. but i guess thats to much for down here.. I'm sure I get something though. Well my wife called me and told me of a few homes she drove by today and jotted down the address. Shes going to look up the owners and send them a letter. Well Thats about all for today from me. and I still @ work..lol..
http://www.deangraziosi.com/content/southcentraltexas
South Central Texas REI Group