Charisse's Journal

Charisse ~

Keep remembering those words in the Subject Line, and you will forge ahead !!!

(And that's going to be a lot of jewels around such a big big big neck, too !!!)

I'm really just writing here to support your JOURNAL -- because I noticed it was a little ignored (so far). Not for long, though, because you really do have what it takes. I can tell from talking with you off the site. Hang in there, k ?

Your ranch / clinic plan is a good thing to hold you over, I think.

Overall, you can do it. We can do it. Rah-Rah-Rah. Got confetti?

~ Sherri

Here I am looking over some Documents and I see, Charisse's Journal. I think to myself, what? My mind is taking over, finally I am cloned! I looked at a 6 unit apt building this morning. It pays out $3000. plus laundry, a month and they are asking $350,000. its been on the market for 6 months with no offers. I am waiting to hear if I can, or my buyer can assume the loan. We would love to figure out how to keep this one.

Next, we looked at a house that is empty and the people who own it want to find another lease to buy person. It was a little scary. It needed paint. The paint was peeling off in strips in the back and there was a major water leak. I hope for the owners sake that it doesn't have a broken pipe inside. Also I received a buyer who wants to lease to buy today. She has worked for the school system for 5 yrs. and her husband has worked for the PO for 15 years and they are cleaning up their credit. I put an ad in Craig's list and they answered it.

Next, My relator was telling Vic and I that if it was her she would just match retail buyers with Wholesale investors and let the two parties find the house and work out the details, that way no one can sue us if they end up unhappy with the house they get. What do you all think about that? Match Buyers to money, not buyers to houses ???? Its something to think about.

Can not wait to hear the news tonight from dean at 6;00. I wonder if it will be costly?

How do we find the owners names on expired listings? Please I am on a roll, my plans today is to send out 30 letters but I have come to a screeching halt.

Thanks, Charisse

Look in Property Trends to get Owners info. Thanks, Got to go!

I did 32 letters to my expired listings yesterday by the time I was done, finding the addresses and save, print, save as, # 32 I was drunk with exhaustion. Next I am going to go buy some colorful, non business envelopes and mail them all out. Then, I am going to Go to www.justclicklocal.com (THATS A GEM OF A SITE) and ask to see all the FSBO listings. Then I will send them out the letter. I am also going to put a ghost ad on three different sites looking for buyers. Then go to goggle and type in Buy Houses. This morning we went to our first auction only to find out,... IN CA. They do things different! Once again, The auctions are in Bakersfield. Yesterday we called the Court House in Bakersfield and they couldn't give us any regular times that Auctions are held. Ca. doesn't make it easy! But I won't be stopped!

Also I had this great idea about putting an ad at the local prison. There are 2,500 employees there. We were told not unless we are a retired or current policemen, etc. could we place an ad. Sooooo, I had Vic call his mate, Ken and we told him if he places the ad in there for us, we will give him 1% of anything that we sell that was advertised to their employees.

I think I am on a roll, in the next 90 days,... .. Watch out world. (WE ARE ALWAYS LOOKING FOR CASH INVESTORS)

SO this is for everyone who has a family member who really loves them and is afraid they have lost the plot with what we are trying to do and doing with Dean's info. My Dad who I love dearly, and loves me dearly, did not come up to the rodeo, mountain festival this weekend as planned. I had to tell him through my step mom that if he loved me he would let up on all the input he gives when he comes to visit. My dad means well, but expects us to do things differently. He has a way of letting you know how many properties in his life he has bought and sold, flipped, and rented, and he thinks we are insane and are going to lose everything. He is 80 but still very sharp. I guess I should feel bad, but I needed to stick up for my life. He will be gone for three months and in that time I plan on having some deals in motion and completed.
You got to walk your talk sometimes before the people you love believe in you. Just remember, they love you, and are worried that you will not be O.K. because you are not doing things the way they know, and they don't see it as safe. But once you show them, they will back off and not worry,... as much. Then you can get back to having an even better relationship then you had before. How old do you have to be before you take your own life into your own hands? I like one of Dean's comments at The Edge 2010. He said, " when ever my dad or family member thought I had a crazy idea, I thought YES! I am on the right track." ME too!

Yesterday we had a phone call about a house we made a crazy offer on and now they say O.K. They were asking, $169, The FMV is $200, after fix up. We offered $147, and asked them if we could wait an entire year to pay them? Then we have time to get in there fix it up and find a buyer. Its kinda scary that they said yes because what happens if we don't find a buyer after a year? We will lose the house with our money and time that went into the fix up. I YIY YIY! Then I mailed out 32 letter to the expired listings, two of the most expensive houses called me back to tell me that they have dropped the price $30, to $40,000. Really nice places! But I don't have buyers yet. I YIY YIY! I have some buyers, so I will get to hunting. One of the houses is a short sale now. Also I have one investor toying with me. Another house we wanted to redo has been dropped, 100,000 but he was hallucinating on the price before. MONEY MONEY MONEY MONEY,..... MOOOONEEEY! And I am still figuring out the 6 unit deal.

things are happening! on the first house you mention in your post #7, is that an REO or FSBO? just wondering....

Hi Linda,

Neither, both places have realtors. Neither owe on them. One the man made a mistake and paid all cash before it was comleted. The other a probate. I will have to offer less then $147,000 cause when I received the expired listings the other day, I looked at the competition. Its an ugly house in comparison.

I got yelled at today by a realtor that told me he was a member of the board of realtors and that agents take a code of ethics and a short sale is not in the best interest of his clients. I tried to explain the benefit compared to a house going into a REO but he wouldn't listen. Well, at least I am turning over a lot of rocks looking for a deal. I'm feeling a bit lost though, I keep getting more pieces to the puzzle but without money I can't put these deals together. I found a few buyers with specific criteria but the deals I have been finding don't match. My husband and son are depending on me and I feel like I am letting them down. I'll meditate on it tonight and see what I can come up with. I wish someone could take my hand and say,.. "Here now do this, and this." and then a deal would all come together. Well, I better get back to the books for more information. I hate being the leader sometimes. I have also had a few more people contact me about the expired listings and I am going to two time my realtor on Wednesday. I don't feel good about it but I have to see about this one she sounds aggressive. The Buyers list is SOOOOOOOOOOO IMPORTANT! Without it your hands are tied!

Well, I two timed my realtor yesterday. I told the other one that there was no way I would close with info from one to the other but business is business. Also I asked her if she wold be interested in investing in a fixer upper and she said, perhaps. Her husband is no longer able to do that kind of work but he use to. So we will see?
To be honest, I am feeling a little hopeless these days. I have been working at this for a while with out seeing any fruit from my labor. I feel like giving up at times, but I don't know what else I would do? We have put all our eggs in one basket, committed to make what we learn from Dean happen, but I am getting tired of not being able to put it all together. I look forward to distractions.

O.K. I worked through my ho hum and new opportunities are presenting themselves. My mom who is almost a retired realtor, and lives two hours away, had an email come through to her that told of a short sale in our area, 4 plex, bringing in $2,400. a month, that is valued at $244,000. They want $180,000. We will see it tomorrow. Next, the meeting I had with the other realtor found us a possible fixer upper, marked way below FMV and we put an add in our private community monthly news letter and we had a call from a possible investor. He asked a ton of questions, I told him about Deans site and he asked if we were modeling Dean. I told him, "we were." He was afraid we were doing some kind of pyramid scheme. It was good he asked so many questions. Next I had a call from someone who will get in touch with me on the 22nd. She gets all short sale info in our county and southern Ca. before they go to the realtors. I have a buyer who is looking for high end foreclosures, so we will see? And my last journal entry, the distractions was just what I needed to relax, unwind and see all the possibilities in a new light.

glad to see you came through a moment of discouragement. we all have days like that, but you pushed your way through. sometimes it takes a while for a deal to happen, then you go like gang busters because it starts to snowball. you will get there. go ahead and two-time your realtors. you have not signed anything that makes you exclusive to one realtor and if one doesn't do what you need, get another one. some investors have 2-3 realtors on their team at the same time. it's all about business and you have to treat as such. and, yes, a short sale can be in the best interest of a seller. as far as that realtor goes, NEXT!

Even with visitors I am managing to do some of my investors work. Yesterday we looked at a possible fixer upper, way too much! Today we are looking at a short sale 4 unit. Next week I will have to start placing more ads for buyers.

We are close to making our first short sale happen. We found a 4 unit they were asking $225,000. Total View says, $271,000. They will take $180,000. They want 10,000. with the offer. They want 25% down. That is $45,000. We have an investor that will loan us the money for a short term, like 6 months @ 6% We are going to try to show prof of funds with the investors money and then borrow the full amount from the bank and pay off the investor. We don't know how to figure out closing costs, taxes etc. So now we are waiting to hear back from our investor, and accountant. Any words of wisdom out there would be appreciated.

Well we are waiting to hear from our realtor to help us write up these papers. I have this great 4 unit short sale that will give us some steady income and the Cap rate is 14.49 % Then we found another one with a cap rate of 10 - 12% depending on what they are asking and what we would want to get it for. "Man O Man" ! Its like paying $50,000. per building, and making 1,300 - 1,500 per month x2. The bank will get their %5 because the buildings can bear that amount and we still get a decent amount ourselves. Any investors want to play bank out there? Other wise we have a couple banks we are talking to. If we get these two deals done by Oct.? Dean will give us our tuition back. YAY!

One thing though, On total view it doesn't figure out, but common sense tells you that if you can clear, $1,516 a month when a house here in my part of Ca. rents for that before taxes, water, trash, etc. It has to be a great deal!

Talked to our coach in The Success Academy and she said, "Jump on it!" and don't tell anyone the address. My lips are sealed!

O.K. I saw that I was way over my head yesterday with the paper work so I called my realtor and asked for a small fee if she would help me just fill the paper work out. She is a sweetie because she is off to her anniversary week end and she was up at 6:00 am helping me answer the questions and will work with me even though she is going to Vegas. I also think I have a private money lender for the down? Keep your fingers crossed! I feel like I am top of the slid and I am waiting to go down for a big splash into the pool of opportunity. Here is something I learned that hopefully will help some one else. If you are going after a short sale and you hear it was already excepted once before but the other person couldn't get the financing, ask if you can mirror the other offer. That way your short sale won't take as long because the bank has already said yes.

Chow for now,

~C~

Hard Money lenders want at least 10%. That can cut in to your profit if it is not a quick use with a speedy payback. We have been working on a deal, a short sale, and figured a return of a little over $700. a month after all costs. The property had rent returns of $2,345. We thought our private money lender would lend at 6% because of a previous deal. When we finally figured out the facts of the loan with our P.M.L. getting 6%, our private money lender asked for 10%. Taking out another 4% left us a profit of only $283. a month. For that much profit I think we should pass and put less money into a smaller purchase and a higher return. Unless of course we can find someone who is willing to make 6% on a fifty thousand dollar loan, for a longer term then one year. Its better then getting 1 1/2 % on a CD. So that is what we are looking for a medium money lender.

Well we finally got our pre qual letter from the bank and got our paper work in today. Now we will wait to hear. Meanwhile, we have 3 other short sale, 4 unit properties we are going to look into. These are not even listed yet.

That sounds grrrrreat.

Good luck, Charisse !!!

Sounds like you are cooking with fire now, as they say...

~ Sherri

Dear Diary,

Sorry I haven't written in a couple weeks. We have been busy! The 4 unit pre-foreclosure that we made an offer on, has been excepted. Boy, the time frame is sure different then a regular property. Now we have to see if the bank will say O.K. Funding is coming from a private hard money lender. Then we are doing a flex loan and borrowing from life insurance to pay the Hard money back ASAP. We have 3 others just like this one that we are trying to contact the owners.
Mean while we have about Ten, Million dollar pre-foreclosures to assign. Keep your fingers crossed!

Thats cooking with gas, not fire.

~C~