David's Journal

This is not so much my first day going as i have been pushing hard for 2 months. I want to start some were though on my journal so here goes......

This week i bought the edge course and started to redo the academy since i just moved to hawaii. I want to get things in order for the new state, i still however push deals and offers in Oregon/Washington which i just came from.

I finally got some buyers, 3 to be honest the first one is just a guy looking for a home and willing to put down 100-300 thousand which is pretty much a condo or a small home in the Honolulu area but its a buyer !!!

I also have 2 others that are investors that just want good deals, i am trying to find some bird dogs for these guys as they are willing to put up as much as 600k if the deal is worth it.

I sent them both forms on interviewing an investor as i got from the course work from the academy and have a perfect idea of what they want and what they would consider a great deal.

My main goal this week is to find an agent or too, didnt have much of an issue with this in Oregon but i am finding in Honolulu i getting laughted at A LOT. One agent said "Investors come with cash, not dreams" this made me laugh because i know it can be done with out. I ain't giving up i sent out 2 more emails today to both century 21 and remax in search for an investor working agent.

Well thats enough for today

Take care

David

Today was a slow day for me as it was almost 100 in Hawaii....i felt lazy
However i did set up a 800 toll free number with extensions to cover everything dean teaches , well from what i have learned so far. I also set up a web site..i Guess college did pay off a bit..ha...

Today i finalized what my 3 buyers really want as well as their money limits and property types so now i know just want i need to bird dog or flip to them.

I have a meeting with my first agent out here in Hawaii tomorrow which i am excited about she is the 5th one i have talked to i believe but she seems really motavated to get things going and was excited when i talked to her about the 25-1 plan so this might be good.

I didnt make any offers really, but i did put one through a few days ago for a house in Oregon with my agent there. I finally took the chance and put in offer in that is 50% off of asking price, but the house has been on MLS for over 120 days, so i think my chances are better then normal.

Well thats all for today

Take care

David

Today I found a bumpy road as i had a meeting with my first reality agent in Hawaii. I explained to her how i wanted to do things and she contradicted me with reasons why it would not work to an extent. I found near the end of the conversation she said the opposite of what she said at the start and we started to get on the same page at that point.

I guess i have mixed feelings about things and i started to let it get to me and start to laze off on this. I know hard work pays off just depends on what you put that hard work on so i am going to push a bit harder and go with it.

I finished my toll free number messages today so the messages are up and good to go. I also sent my sister flyers in Oregon to give to a Pho restaurant that i used to go to that puts up my flyers. I am going to give the probate a try and start advertising that as well.

Well it is the weekend now so i don't plan on getting to much done, i do plan on finishing up the reading to Dean's print out i got with the probate program and maybe one or too parts in the academy.

Till then

David

Howdy,

Well Monday for me was a waste when it comes to investing as i did nothing, i really feeling lazy on this. I also feeling stuck as i have found 4 or 5 buyers in the Hawaii area but not so motivated to find the great deals. Tuesday I am going to punch a hole though that laziness and really push it.

I also want to get a PO BOX set up so i can set up a LLC in Hawaii and start my business credit line. I am still waiting on my edge package but while i wait i am reading other things on the site as well as reading up on the academy material to better ready my self.

Due to this frustration i am having with Hawaii real estate i starting to push harder in Oregon and Washington area just because the deals are crazy I just having issues finding the buyers in the area.. Ha..everything is backwards for me in this..but giving up is not going to do much so here goes...

David

I know this is early to write but i feel today i got enough done to call it a day. As i have said yesterday..rather today with my late post that i was feeling fairly lazy and i decided to push my self to turn that around and i did. Today i set up my PO Box and am going to start today on my Hawaii LLC set up so i can get the business credit and aspect going in the next few weeks.

I also found 4 possible buyers in the Oregon area that are very motivated to move into something so i emailed an agent i am working with in Oregon to see what he has sitting around to make these quick flips or lease option deals.

I also had my sister in Oregon send out new flyers to places that were holding my material for advertisement i figure i would try something different and see the results or responses of that..

Well that is good for today

till then

David

Well today has been a great day in the real estate world for me. Today i did about nothing as in looking for anything because i got my edge course in the mail today. I have already whipped through the first too DVDs and am feeling good. I learned a lot today about LLCs on the course and today filed for a LLC under my name and talked to a few banks about starting up a business account with them. I plan on doing what Jeff talked about and open up 3 banks and start working on my business credit as soon as i get my EIN.

In the terms of progression i found a condo today, i have little information on it as in what it cost retail wise or if its a great deal. It looks good so far though the guy is willing to sell finance the home for 10k down and is willing to work on the 10k and he wants 1245 a month. I also have a guy that wants a place in the Waikiki area so i might have a sandwich lease coming to me. I feel though i need to work the terms better because the 10k is not going to come from the buyer, he can only fork out about 5k which is still better then nothing i believe i can get a family loan to cover the rest. I feel the rent is to much though were i might make little to no profit if not negative. I have been thinking it out and I also am going to call the advisor line to double check but i am going to try to do it were i pay the full 10k up front as he wanted but instead of the 20 or 30 seller finance that he is offering ask him if he will go just 5 years and lower the monthly rent. Make sense?

It does in my head and seems like a total win-win-win thing were he sells his house gets money a lot faster then he though, i get paid in the middle and the buyer can get a home now because his credit is pretty bad and cannot qualify for anything right now.

I know this is long im sorry, i wonder if people read this. Ether way it helps me and it puts pressure on me to do something because if i dont i'll have to write a Day # and put "Today i did nothing"..who wants to do that? Not me..

take care

David

Whoa... a full week and not giving up !! Today was a pretty good day, i talked to the owner of the Condo today and really found out everything i needed to know as in why you wanted what he wanted per month and found out his terms and conditions to make the deal work. I also talked to the buyer and he is excited and thinks the numbers will work. I think i have a match, the only flaw is i am going to have to come up with about 5k down payment to help out the buyer but i figured i can put it on the sell price and win.

I have found i am going to get the money as a 3 to 5 year loan with about a 3k add on to the lender, i think thats a great return compared to today's market. The numbers seem great though as it is going for 110k i am thinking about 125k ish for the buyer and about 50 to 100 month positive cash flow.

I find this deal as my first good one and win win as the seller gets his asking price, the buyer gets ownership at a good price *he was about to pay about 200k for about the same size place* and me i make about 13k profit in 5 years and a 50 to 100 a month cash flow. Not bad for first deal in Hawaii.

Today i really sat down and figured out what is going wrong with my work in Oregon and figured its time to change things up because the old style is just not doing it. I also talked to my agent about new searches for what to look for as well as changes to the contract to help us do more offers.

Thats about it for today, i am off to find more great deals before bed

Till then

David

Howdy,

Today was a all out real estate day for me even though it was the weekend. Today i knocked out disc 5 of 6 on the edge course which was fun. Today i talked to my sister to help me in my business since she lives in the town that i am buying in. I think this is going to be a great move as it helps family which was one of my goals and it helps me get moving along faster. Today i set up a package for her to interview buyers and sellers and started teacher her the ways of real estate. I have also set her up on my LLC as CEO for my LLC in Oregon which works out and motivates the hell out of her.

Today i set up my spare room as an office and noticed i am already getting more done, i think the fact my normal working spot is in my bed room i get lazy and tend not to do to much, this has already changed.

Well that is it for today, mostly just cleaning house and getting my family aboard the project.

Till then
David

Hello,

I am a day behind on my journal so I am making it up today. The reason I missed it was not because i am lazy but i have set up too deals that I am excited about. My first one is here in Hawaii I am working out a sandwish lease options on a condo which is going to cost me about 5000 out of pocket which i am getting loan, this amount will come back to me in 12 months when the buyer takes over. I also have a deal in Oregon which came back with a counter offer, which i believe is a pretty shady yes and im excited. I already responded to their counter and am now waiting on a response.
The only other thing i did today *Yesterday* was build up on my buyers list, I am starting to see why it is so important to have it and now I am just building it daily till i find a strong few that i can just keep using over and over.

Till then

David

I am falling behind on these and mostly because i keep forgetting to write them. I am doing my best to keep up so again today I am writing for yesterday's events. So i went to show the condo to the guy im trying to do an assinment with and it didn't go so well as he did not like the place. Also the seller kind of killed me as in told the buyer his side of the numbers so it cut me out of the loop.. I see i need to learn to better handle that but I still have the guy with me so I am going to try to find another deal for him.

I also heard back today that i got a counter offer on an REO that i am getting for about 40 cents on the dollar, we have been back and forth about 3 times and looks like we are coming to an agreement I am now just waiting on the final OK and its flip time.

Till then
David

Hello,

Well today i did really nothing, thats right nothing..it was my some what day off from real estate. I will keep this short since i didn't do to much. I got a counter offer for the house i am trying to get in Oregon and we finally agreed on a price I now am waiting on the final ok to start the buying and selling process. I also started up the paper work to put in an offer for too houses in Hawaii, the way real estate works out here is so much differnt then the main land so i got some learning to do for sure..

well till then

David

Howdy,

Today i got all my LLC work done as in getting my EIN and opening up a business checking account. I have also set up an appointment to start working on lines of credit so i have it there when i need for rehabs or other reasons.

The house the i have locked in this week is in the works as I sent off a busness offer to my family for a loan which will give them a 20% return, not bad eh? I also am putting together another offer now that i plan on bird dogging, the property looks more of a fixer upper then anything which doesn't seem hard to bird dog off with all these investors looking for them now.

well till monday take care

David