OfflineHi, my name is Bill Pohl, my company is TrustPoint Financial Group (TFC), and I have found Dean and DG.com to be a breath of fresh air in the real estate industry. I ordered his books in March 2010, even though I saw his commercials for months. After reading his book and visiting DG.com, I had an epiphany. I decided to rewrite my company’s focus by stripping away all of the negative energy that had accumulated over the last 10 years and begin anew. I didn’t take this endeavor lightly.
I have been involved with real estate since 1981 (can anybody say Carlton Sheets) and had some successful and creative purchases. However, I always kept real estate as a side business, spending most of my time operating my 3 state (OH, KY and FL) public accounting practice. As my accounting practice grew, I found myself spend less time with real estate and at one point had sold everything I had accumulated over the decade from 1981 – 1991. However, I also found myself unhappy simply doing accounting and tax work and I was fortunate enough to sell my practice the following year, in late 1992. I took the next couple of years off and contemplated what I wanted to be when I grew up. My focus was going to be just working by myself. To meet this expectation, from 1994 to 1999, I did a little consulting but I spent most of my time daytrading the equity and options market. I had a great time during this period, but as a daytrader, you spend so much time looking into a computer screen, it starts to consume your soul.( I can’t explain it any better but if you daytrade, you know what I am talking about)Everything started to take a back seat to daytrading. I even started to trade foreign markets just so I could trade. It was at this point that my very being seemed to no longer be mine. I had to quit to get myself back and I did so as a full time trader on 12/31/99. I took the entire year of 2000 to reconstitute my life (again!) and I decided to focus back on real estate as it was always good to me. I incorporated TFC in Jan 2001 and haven’t looked back since.
I focused on lease options (actually sandwich leases) as they were the easiest to do, they quickly built up a portfolio of homes, and it allowed me to talk endlessly to people about something in which they could relate.
While I spent a lot of time in Ohio (my home state), I was lucky enough to be involved with the Florida RE market while the market was flying. There was a point in time where my portfolio of homes included homes in OH, FL, NY, SC, VA, GA, KY and HI. I was like a kid in a candy store holding multimillions of dollars worth of homes. However, when the market turned (and it really did turn on a dime), my company’s net worth dropped over 2 million dollars while I attempted to reduce my exposure to the vicious teeth of the recession.
I survived. I decided to start the rebuilding process in 2009 and used most of that year to finalize and stabilize my company. 2010 was the year that I started to build TFC 2.0. To that end, it was the reason I ordered the book. Along the way, I jettisoned a lot of company baggage. I am down to 2 offices (Cincinnati and Orlando), I have reduced the internal people I do business with to 3 trusted individuals who get it, and I have streamlined my marketing, my portfolio and my thought process. My goal is to use this unique time in history to grow my business to a large regional real estate firm having annual revenues of $25 million by 2014. It will take some smart work, some awfully good networking and great business plan. I think I have all of those.
I am starting this journal as a way to interact with the members of DG.com as I feel that DG.com “gets it”, and it was also an interesting way to hold myself accountable. I have also set up social networks on LinkedIn, Facebook, Twitter and Blogger to relate my progress to people with whom I will be involved with during this process. (I invite everybody to search me out in whatever forum they choose as I would be happy to interact)My websites are in flux with some of them updated and some of them in the final process of being updated. I just completed a rework of my email system. In essence, I have taken the last 6 months to plan my work and work my plan.
Lastly, some personal notations: I'm 56, I love life, I have been married for 36 years, I have 3 kids, and I don’t believe in the no-win scenario. My pet peeve: stupid people. As you get older, you’ll understand how much life they try to suck out of you.
Anyway, here goes nothing and wish me luck!! Today is the first day of TFC 2.0.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Most people think that an accountant's life is miserable in April when all the taxes are due for individuals. But that's not the truth. Most public accounting firms are the busiest in January as there is a scramble to get all the 1099s and W-2s completed and out the door on time PLUS all year end accounting for companies PLUS quarterly reports for employer's payroll tax PLUS annual payroll tax reconciliations PLUS the early birds with personal tax returns. It never ends in January. Why am I mentioning this?
Because I am reminded of this as I am starting my year end accounting PLUS beginning of the year tax form production. (Do you think the employees would complain if they didn't get their W-2?) It would be easy if I had a simple life, but I don't. So many LLCs, I feel like I have my accounting firm is back again. Uugh!!!
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Tell me about it, a VERY unfriendly state indeed. Just to have an LLC here it is $800 every year in taxes, whether you lose money, break even or make a profit. Hate it! Looking to open an S corp in WY or NV (which do you prefer, btw?) beginning of this year; but I've built my business credit under my CA LLC.
Nothing is business friendly here!
Checking out that link now.
Even if you open the LLC in another state, you LEGALLY have to register it your state of operation as a foreign entity. You still get hit with the taxes but now have to file in two states. The only entity that can cross state lines with ease is you as an individual. (NV would be my choice btw, to answer your question, but I don't think it will do want you are trying to accomplish)
Always Looking to Acquire Houses | Always Looking to Amaze Investors
CA is definitely NOT the Golden State anymore.
The weather is great most of the time, but then it pretty much ends. I won't get into the negatives because I try to stay positive, but there is a pretty big list. CA thinks they are their own country.
I have actually been toying with the idea of moving back to the Southeast. Time will tell.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Sounds like you are going to be tremendously busy!
Hope you will still have time for us.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
How would it be possible for me not to have time for you?!
Always Looking to Acquire Houses | Always Looking to Amaze Investors
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
A great offer indeed, Bill. Wish I was more aptly positioned to take advantage, but I'm commenting because it's encouraging to see active good will and good intentions alive in the business.
Matt
The weather is great most of the time, but then it pretty much ends. I won't get into the negatives because I try to stay positive, but there is a pretty big list. CA thinks they are their own country.
I have actually been toying with the idea of moving back to the Southeast. Time will tell.
Karen
Hey Karen,
Just couldn't resist...you know you want to move back to the "Promised Land"!
My sister has lived in the LA area (Long Beach currently) for more than 35 yrs and you would never know she was raised in Alabama. Can't remember the last time I heard her say "y'all". Nice place to visit, but..........
John
Quitters NEVER win - Winners NEVER quit!
"P.U.S.H. = Persevere Until Something Happens" Dean
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas A. Edison
Check out my Road to Redemption journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/88171/...
www.windfall-properties.com
thanks for taking the time to post your journal. This lets people know that you can accomplish your goals even if you have to restructure ocassionally.
I appreciate your comment. Please enjoy this site as their is a lot of knowledge here
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Bill is the man.....DG should sign the website over to you and let you run the coaching program!!!
With the truest sincerity.....God Bless You!
Thanks for keeping my hope alive that there are still good people out there!
Bernard
SKY Real Estate Services, Inc.
Thanks,
Bernard
SKY Real Estate Services, Inc.
"Money Doesn't Grow On Trees, But It Does Fall From The SKY!"
Here is a little story that just happened.
About three weeks ago, I made an offer on a house that is in Orlando. My offer was fair but the owner called me this weekend and is going to hold out for a slightly higher sales price. Not a problem as you can never win all of your offers.
However, my offer was so detailed as to market demographics, alternative ways that I could do the sale, detailed comparatives, etc.; that the owner of the house recognized that I knew what I was speaking about. In fact, he said he had never seen such a good presentation and may revisit with me regarding the sale in a couple of months.
Then he went on to say that even though he isn't ready to sell me the Florida home, he is ready to invest with me some of his funds in my projects.He said he will commit $50,000 by month's end and will make preparations for another $200,000 by summer. This was unexpectedly good news and is as good for me as if I would have bought his house.
Therefore, the lesson learned is to always treat everybody with respect as you never know what may come of a relationship down the road.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
You got that wright, I still get people call me up from 15,20 years ago that I did work for and they want me to do more.
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10
At the beginning of the year, it is not unusual for people to reflect upon their past activities and performance. At least I know that I do. One of things that I have noticed is the fact that I have slowly built up my blogging and forum times on various real estate website, including this one, as a networking method, but also a way to help other people that are just getting into the business and want to learn. I am now up to 5 hours per day combined.
I know that I enjoy helping people that are sincere in their thirst for knowledge and have done several personal calls to different investors helping them understand some complex transactions or just giving them a sounding board for their idea.
But I've decided there are a lot of people that I will not help going forward and I want to lay out the simple parameters of why. On this website, there are a lot of new investors who buy a book and immediately thing they are the God's great gift in Investing. I think that is a fantastic attitude but your lack of knowledge precedes you. Listen before you speak. Learn before you talk. There are too many questions being asked that could be found by simply searching the forums on this website. Your lack of being able to do basic research tells me that you really don't have what it takes to be a RE investor. So from this day forward, I am not wasting my time answering your posts.
Another group of investor wannabes cannot even complete their profile. Everyone here needs to recognise that this website is about building relationships first. No one can take you serious unless you are willing to complete your profile. At least I know I wouldn't partner with a person unless I knew some basic info about them. Would you? So from this day forward, I am not wasting my time answering your posts or PMs if your basic information (at least name and location) isn't completed. My time is too valuable to be working with folks that aren't taking RE investing serious.
Lastly,I want to stress that I am happy to help people make money with their quest on becoming a real estate investor. But also remember that I only have so much time in my day. Most of the time I help people on a pro bono basis. Othertimes, if the project is complex, I may suggest a joint venture if my expertise can make the difference of having a successful project. But I am not interested in funding deals or buying assignments when the final risk is going to be borne by me. I have internal resources that creates my in-house opportunities and research with which I depend upon currently.
However, that doesn't mean that once we work together I won't be more receptive to your deals; it just means that as an unproven person, I need to see how you work first without compromising my company.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Bill,
I just finished reading your journal-thank you for sharing. I also check people's profiles to know who I'm 'talking' to, and I too find it pretty annoying when people are asking for advice and don't take the time to write a little about themselves.
Looking forward to subscribing to your journal.
(I'm also from the 'unfriendly state-unfortunately!)
Regards,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Bill,
You are quite accomplished and I am astounded you give so much time and detail to your posts. Whenever I have some free time to get on here and read I do...You are on all the sites I click on. Very valuable information and well written. Great deal on the homeowner/investor you just signed...amazing! Thank you for all that you share...On another note, I know you said you were into day trading at one time...well I just picked up this book in Borders on real estate day trading have you ever done that before? I haven't read too much of it yet, anyway it looked interesting and I like to learn anything to do with RE.
Great Journal I will be sure to keep reading along with your ventures...
Barbara
Your latest post (#76) is spot on! (borrowed some of your terminology!)
I could not agree with you more! I know I have not completed a deal yet, but I have spent SO, SO many hours studying, reading and devouring any information that you much more experienced people are so kind to share with us. And then when I see these idiots (sorry, but many are) come on and say, "I flipped through my book, what do I do first?" It drives me CRAZY!
I completely understand when Elix gets so brash with them! I have also replied sometimes to questions for them to fill out their bios if they want to be taken seriously, checked back a couple of days later and it is still blank...(?)
I try hard not to be one of the idiots and try to research before I ask questions.
I appreciate tremendously the time you give to help here. I know it is not something you "need" to do and there are many of us who work very hard to learn so that we can better our lives and insure our futures and are very grateful.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
a Southern Belle who just happens to live in the crazy state. I always appreciate your kind words and you do post a number of thoughtful posts to help others as well. I think it is hard to do deals in CA because of the environment there, so don't be so hard on yourself. (I know CA residents will tell me how I am wrong, but us midwest folks just don't understand CA antics) If I can ever help you, always feel free to PM me and I'll be happy to call you.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Thank you so much on your kind words and I may very well take you up on your offer.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Bill you keep talking like that she's going to think your expecting her to bake you a pie.
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10
While some would perhaps feel put off by your remarks, I agree completely. I've been very annoyed and have bitten my finger more than once to not respond to a post where someone asks a question that would clearly be answered by perusing the forums and reading the books. You can't go far on this website to hear about all the places to find out this information, so there really is no excuse except for laziness. On another note, I can't seem to bring myself to take anyone seriously who does not use proper spelling and grammar. Most people here have English as their first language and there really is no excuse. I hope this does not offend anyone but if it does, maybe you should look at your own spelling and grammar.
Cheers. 
"Persistence Pays, Procrastination Delays!" - smurfy
"I can do ALL things through Christ who strengthens me." - Philippians 4:13
"He will keep in perfect peace whose mind is stayed on thee" Isaiah 26:3
"Those who wait on the LORD Shall renew their strength; they shall mount up with wings like eagles, they shall run and not be weary, they shall walk and not faint." Isaiah 40:31
View my journal here: http://www.deangraziosi.com/real-estate-forums/investing-journals/59850/...
Jim, I hope Karen does bake me a pie (almost anything but cherry)
Lisa, in business, it is important for communication to be correct. First impressions. My wishlist would be to have a spellchecker for these posts. I have them on other websites, I wish they could be here too.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
My Mother started a tradition in our family. When at Christmas time, we girls first started having regular boyfriends, she would make a pecan pie for them and wrap it in pretty Christmas paper and that would be their gift.
Now that my girls are grown up, I always give their boyfriends (now one hubbie) a pie for a gift along with their other gifts. I use my very best recipe that I have made for many years. It can be found in the freezer section at Ralph's/Kroger's. If you would like, I will see if they would be so kind as to deliver.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Karen I'll stick with my wife's pumpkin pie It's the best I have ever had and it is my favorite. Lately she started making cream cheese pound cakes,they are unbelievable.
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10
Pinch me!!! are we talking about pies here????!!!!!...Jan
My mom makes the best apple pie in the world. Just thought I'd put that out there...
"Persistence Pays, Procrastination Delays!" - smurfy
"I can do ALL things through Christ who strengthens me." - Philippians 4:13
"He will keep in perfect peace whose mind is stayed on thee" Isaiah 26:3
"Those who wait on the LORD Shall renew their strength; they shall mount up with wings like eagles, they shall run and not be weary, they shall walk and not faint." Isaiah 40:31
View my journal here: http://www.deangraziosi.com/real-estate-forums/investing-journals/59850/...
Real Estate vs. Pie... hmmmm. I am so glad we can have our Real Estate and eat Pie too!
Bill,
Last week was the first contact I had with you and so I came over to look at your journal. I am really impressed by how well organized you are in your business. I look back one whole year since I started and I have gleaned so much from everyone! I have to admit when i got started I had no idea that I would be creating a business in order to do Real Estate Investing... but within a week I had that taken care of because someone on this website suggested that I do that.
It's so true that there is a wealth of information on this website. Just reading your new October 1st profile shows me how much opportunity I have to improve my business.
Anyway, nice talking to you last week. I did make an offer on the property I was looking at and am waiting for word on the offer.
Roger Schafer
Jaguar Investment Group
URL for Journal : http://www.deangraziosi.com/real-estate-forums/investing-journals/43293/...
All things are possible to him who believes! ----- Mark 9:23
In the middle of difficulty lies opportunity ------ Albert Einstein
And here I am on a diet trying to lose weight and you all are talking about tempting pies! (Personal favorites are homemade pumpkin pie and chocolate cream pie). I won a baking contest with my cheesecake once though.
(no, I don't do that often anymore, that was pre-kid)
Amazing about the private money you will get off your offer! Great! I am always wanting to include my details of why I make my offer what it is with my offers, as well as comps, but have not done so yet (especially when I tried using realtors in this crazy state
, they don't want to include anything but the offer itself. Blaahhh.
Lets get back to business, I did have a reason for those two questions I pm you about. Still trying to decide if I can make it to Cincinnati this coming week.
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10