Kiel's Investing Journal

Hey everyone! Since my last post what has happened was I have been doing lots of studying my town. I have gotten to know my area and zipcodes and nicknames for different areas. Still need to memorize that. Also what I have been doing is going on Zillow and craigslist looking at deals and seeing whats out there.

I started taking notes and found that right now in San Francisco there are houses being sold every couple of days. What I mean by that is there is a pattern of houses being sold in the months of March April and May. I am expecting this to continue through the summer. I don't know if this is a common thing to happen only in the summer but it's getting me really excited. I need to still find a RE agent. Also I was looking at the FSBO's through Zillow and one thing that I found is these sellers are pricing there houses almost 100k above what the FMV should be. The comps in that area could be as low as 200k than their house! Not to mention the work that seems to be needed in some of these houses.

Looking and finding these deals has really got a burning inside of me. I have not stopped thinking about REI since I really started to take action. Have to say though for some reason me trying to find an agent and mortgage broker and everyone for my team is still slightly terrifying since I still don't feel like I "know" what I'm doing. But I guess the only way to get over this is to do it! Because I know I can!!!!

Kiel

If you think you can't, you wont. If you know you CAN, you WILL!!!

If someone says you can't, you must!!!

Today is a breakthrough day for REI and me. I put up one ad on craigslist(though I have no properties on contract) and put an attractive headline. Today I got three emails back all of which were investors who are representing a network of other investors!!! One guy writes to me saying "send me whatever you want to sell. If the numbers work, I'll take it!" WOW. I was so afraid to take action but now that I have I am having so much fun. Taking action isn't scary, it's a load of fun. The other two guys who emailed me haven't responded yet. One of them wants me to call him...but my phone just died. Now I am about to be on lunch break from work and I have to sprint home to get my charger and call him! Also today I emailed some realtors. I don't expect a response yet because it's the weekend. But one of the realtors said in his bio that he owns a few business' and has invested which is soooo promising. He left his phone number online so I will give him a call soon! I am having so much fun finally doing something and not just reading. My passion for REI has grown exponentially in the past couple of days taking action. Thats all for now!!! I need to go get my phone charger!!!

Thanks for the support everyone!
Kiel

So today I spent most of the time researching my area and then found some amazing deals. I have someone who lives near by who is working with me and showing me the ropes right now since he knows a little more than I do. We plan on keeping each other accountable and hopefully do some deals together. He is having his REA submit an offer on one of the deals I found since I don't have an REA yet. We are asking about 70% off the FMV because the house looks nice and all but one room needs to be completely gutted. Major leaking. I have a cash buyer, couple of them actually, who wants any property I can get my hands on. So when we get something back from the seller I'll let you know.

This week my goal is to get both an REA and a mortgage broker. Right now what I am thinking is getting one here in SF then both in Berkeley and then both in Richmond. This is because a lot of the things that I am looking at are across the bay and it would be nice to have someone who specializes in all those areas. My "partner" is going to help me out with those since he has most of his team assembled. It feels nice to be finally going somewhere with this. So those are my plans for this week!

Also, along with assembling my team, we (my partner and me) want to help each other submit at LEAST 3 offers EVERY DAY! That means 90 a month and out of that we better be getting some freaking deals.

I am dead serious about REI and my 2 year goal is to have bought 20 properties, and have done another 20-50 assignments. I know I can do it I just have to keep myself accountable for it. Also I want some of those deals over the next 2 years to be in places like Phoenix and Las Vegas.

That't it for now!!!

"If I know I can't I wont. But if I know I can, I WILL!!!"

Hey man That is a great goal and it will come to term. I have same just like yours and I want to get to an area like Idaho and branch my area out.

Thanks for being the first to finally post on my journal! Idaho is a great area, check out Nampa Idaho. I believe there is a lot going on there. As far as development goes anyways.

Hey, I noticed you mentioned Zillow as one of your research sites. They tend to be a bit "dated" on their info.
I always go to totalview.com first & then usually go w/ the lowest estimate. At the very least you'll get a $ range that you can work with.

Good luck.

Z

Vonny- when I say academy I mean success academy. My school will pay for It but I hope to have done my first deal by then and in that case I will use the money I got for it.

Z- I use zillow because in my area they show tons and tons of property. Many people in my area list their houses there. So what I do is look at properties their then evaluate them first try to figure out fmv myself(because its a good skill to have) then use totalview.

All the best to your REI efforts!!!!!!!!

Here are some updates. I am now working with a partner and were both trying to put in 90 offers this month, so a total of 180. And with our first couple of deals or two we plan on splitting the proceeds just to help each other get on our feet.

Also met someone in San Jose who is in the Success Academy. So him and I are keeping in touch and it feels really good to have some companions.

Now I am just really tired and confused. I have been working so hard on this, but right now I'm not sure how a RE Agent can help me. Let me explain, I want my first couple of deals to be assignments(as most people do I think) but I don't understand how the agents makes money. So is there even a point to have one until I get going on buying properties?

Also I want to get in touch with a mortgage broker because the forclosure market in the SF Bay area is huge! So I plan on doing multiple lease options and getting some renters who plan on buying. Also if someone can help me figure out how to locate the owners of homes in PFC. Is that where I go to the county court house? If I find a person I can help should I have those buyers who cant afford a down payment in place first?

Hope someone reads this and answers my questions!

Happy REI

Kiel
"If you are told you can't, you MUST!"