Dawn_Dean's Journal

Don't you give up.
Get another estimate. Sometimes a little competition may get a you a better rate. And even if not, at least you'll know for sure. I read in an e-mail I got from a company for funding flips/assignments that they required wholesalers to get 3 repair estimates AND 3 property managers willing to take on a property before they would fund a deal. Though I won't use them, it made sense to me. So a couple of repair estimates would'nt hurt.

And then make the offer. The worst they can say is no, right?

with you all the way,

Rina

I think another estimate would be a good idea. I know it only cost us $6,000 for a new roof last year. (good ol' hail damage) I may offer MY "services" when assigning since I'm here and my investors are from outta town and don't really have an interest in "managing". I may just make the offer low anyway & see what they say. Another "little" house in in forclosure now, it has been listed with a realtor since they "fixed it up" and haven't been able to sell. I will definetly put an offer in on this one too. Heck, maybe on the duplex's too. If for no other reason, it will make me feel like I'm doing something positive. Having kind of a bummer day, must be the weather or something. Think I'll pack it in for today and start fresh tomorrow. (heavy sigh)
Be back later....

You're really making headway here. I'm so proud of you! I agree with Rina, get a few estimates before you decide. You can even assess the repairs yourself by knowing the costs of what needs replacing and then times it by three for labor... LOL! Sounds crazy, but I learned that from another guru. (No names, out of respect for Dean.) But it's best if you know these things anyway so they can't rip you off on future rehab costs. The main thing is DON'T get depressed. Each problem is an obstacle you CAN overcome, you just need to find the solution. You're NOT defeated unless you accept it.

You guys are great! I really appreciate the words of encouragement. I'm feeling much better today, it was temporary depression, thank goodness!!Guess I just need a kick in the butt once in a while!

I saw a thread where Sissy (I think) made up a book for her rehabs. I think this would help, I know absolutely NOTHING about pricing materials but I'm Pretty darn good on the Internet! I'll work on building a "book" for myself. Thanks for the tip Lena!

I emailed my "Realtor" last night & asked her to run comps on 4 properties & told her I want to make offers. This should be interesting....LOL!!!
And Rina, I WILL be calling the coaches today BEFORE I make these offers.

Thanks again Sisters!!!!
Dawn

I still haven't heard from my "Realtor" so guess what? She's fired! I am interviewing a NEW one tomorrow! Looks like he has worked with investors before and works a large area, this is good. I would do it today but I'm taking the day off, It's my B-Day. (I just couldn't stay away from "the Family" this morning!

Later......

As I said in my previous post I FIRED my realtor. I just interviewed another and it looks good. We'll be meeting with him & the business owner on Wednesday night to discuss our new relationship. I'm so excited! Feeling kinda giggly right now.
Although "JD" has never invested he has worked with a couple investors and wants to invest himself...hmmmmm (I smell a money partner) I guess taking a day off was worth it huh? AND, He's getting me the comparables I asked for too! FINALLY, someone who GETS IT!! (Heavy sigh)

Wish me luck...I'll keep you posted!

Your smilin' Sis,
Dawn

Happy Belated Birthday! I'm sorry I missed it. But I'm glad you had a good day, and sounds like a NICE present (your very own Brand New realtor. lol)

God bless,
your sis,

Rina

Yup! He's all shiney new and come complete with instructions!
This present is just part of the BIG PRIZE I'll get with my first deal!!!

Dean & I went to look at a Duplex last night. The owner is an agent but has invested in several properties including commercial. He refinanced for his son (who lives in Washington) to get a better rate (had an ARM)so he's trying to sell. He says he wants to sell, but dosen't have to. He is willing to "work" with us on this one....Asking 105,000(assesed=102,500) & owes 72,000. Good shape but could use windows,5,000 credit for roof too. Good cash flow (1140/mo) but I don't think enough room for my investors to profit, we'll see. Not sure I like that it's heated with space heater either!

He has another duplex in Baraboo he said he'll let go for what he owes!(92,000) WhoooaBaby! This one looks good, I kina touched base on a possible "subject to" sale. Like CBR said, he didn't know what that was! LOL! We'll go look at this one too. If we didn't have to finance ourselves (until later) we could get this one for OURSELVES! I have to call the coaches today & get all the poop on how this would work. I'm so excited! He sent me the spec sheets on both and said I can contact him anytime. He even told me to be sure there is a contingency stating there has to be full occupancy! This guy's cool! I made a new friend. I'll have my brand-new realtor run comps for me....Somebody pinch me!

Your DG Sister & future Millionaire!!
Dawn,

Yeah, my "brand new" Realtor is passing me off to another. He said he would give my information to another in the office & they would contact me. Well, where are they? No call yet, and this was on Friday! Is this an omen or what?
Guess I have to get back on that bull and find out what's (or not) going on!
I get so frustrated, but watching Dean's newest blog gave me the kick I need.
Today's goal is to FIND A REALTOR!!! Ugh!

3 out 5 kids are coming for Thanksgiving, my 2 and one of Dean's. I have to get ready for that, they are coming tonight and staying until Friday. I'm excited for that, it's great to have them here! I will have a housefull, 6 adults, 1 grandchild and 2 dogs...kinda sounds like a circus!
It will be great!

I'll be back...
Dawn

Enjoy your Thanksgiving Circus! lol Sounds fun.

Well, I hope you find your "permanent" realtor pretty soon. Are you on the Realty merry-go-round? (jk) Don't give up. Try sending an e-mail to a bunch of them so you don't have to wait around for one at a time. Then decide who will get the honor of working with you. Remember, YOU have a LOT to offer!

your sis,

Rina

Yup, still riding the not so "merry" go round with the realtors. I haven't heard a word since last Thursday. I wanted to put in a number of offers and nothing! I'm getting soooooo frustrated with the realtors here. Maybe I should look out of town. More travel time with contracts and all, but geeeze!
Someone has got to work for me soon or I'll bust!!!! (like at Thanksgiving!) There are tons of REO's that have been on the market for ages here...need some rehabbing but a few are rent ready. Maybe I should just put the offers in myself WITHOUT a realtor! UGH!

I'm ok....feels good to vent. Think I'll call the outta towners today....
Wish me luck! (I'm gonna need it!)

Dawn

You said it. Try calling the listing agents on the properties you're finding, and put some offers in through them. It will give you some more exposure and maybe you'll find your realtor that way. (Actually, that's how I found mine)

Wish you well.

Rina

I will do that Rina, thanks for the advice! I hope I get lucky like you did! A couple of the props I found are listed with the FIRST realtor I tried to work with....I'll let you know what happens, if anything.

Dawn

I spoke with a realtor the other day & told her what I will be doing. When I asked her if she had time to work for me she said "I'm not really busy now, to be honest". I THINK WE HAVE A WINNER!!! I asked her for comps on the Baraboo property and she got them to me the VERY SAME DAY! WOW! So that's how it's supposed to be done?!! FINALLY! A realtor that will work for ME! We are supposed to get together either today or Friday and discuss my "plan" (which is to keep her very busy)! There is nothing holding me back now!!

Tonight I'm looking at an FSBO in great condition & desirable low tax neighborhood. They are selling to move closer to family. I don't think they're in a hurry to sell since the sign has been in the yard for a while... but maybe they would be willing to do seller financing. (No mtg on it) Asking $170,000 and the neighbors sold for a little over $200,000. Ya never know until you ask, right?

I'm feeling like things are finally coming together! Yahooooooooo!!!!

Dawn

I got an invitation to attend a REI meeting with guest speakers tomorrow night. I'm excited!! The organizer is a member of the REI club I go to and learned from the Neauve Rochae program... I have never heard of it but many of the members learned from this program. They looked at me like "HUH?" when I told them about the DG program. Whatever!!! Anway, Ginger is going to introduce me around before the meeting, you can never do too much networking now can you? I'll keep you posted, should be an interesting night. One of the speakers has over 8 million in RE in Madison...he's like Matt!

On a more sour note, one of my investors told me he's holding off and not buying now. (IS HE CRAZY!?!) This after I sent him a great deal hoping to get a finder's fee too! So I sent it to another investor for a peek! Take that!!!! If he doesn't want it, OH WELL! There will be many more...I hope!

So, that's all I have for now, this will be my year if it kills me!!!

Dawn

Dawn, you are too much! I love your enthusiasm!

Have fun at the meeting. Don't let the year kill you! I really want to meet you. lol

Crossing my fingers for your finders fee,

Rina

Can you cross your legs and arms too!
If all goes well, I just might make the trip in April after all (without having to hide in your suitcase!) LOL!!! I'd love to meet the rest of "the gang" too! I may be calling you sooner than you think for a little advise or just to chat! Talk soon!!

Your favorite WI Sis,
Dawn

I would love to chat...
Did you know I almost went past your house last week? But because of the storm I went another route. I-35 thru MN. Still ended up with 200 miles of snowstorm. Boy was I glad to get through THAT!

Rina

P.S. Don't worry. I would have called.

That's kinda taking the long way around, don't you think?
You can get lost in my neighborhood anytime!! I think in this snow every road FEELS like it's 200 miles long too! I know my back has had enough and we're just getting started with the storms! Can't wait for us to get wealthy enough to move down by Lena!!! LOL!!!!

You'll hear from me soon...

Dawn

my 2 1/2 day trip was over 2200 miles of driving. Ick. Got to check out neighborhoods in 2 , well 3, cities and 3 states on the way, though. So THAT was fun. VERY glad to be home, though.
We might go to WI Dells this month. We'll have to meet up if we do, ok?

Yeah, and Lena better watch out if we keep getting weather like THIS all winter. She'll find us floating in her pool one morning. Face UP, of course. LOL

I'd LOVE to meet up with you. The Dells are just a hop, skip and a jump from me. That would be great! Give me a call!! (I'll send you the cell number too)
The Dells will never be the same! LOL!!

Face UP is better than TRACTION!!! Wonder if she would make us one of those fun unbrella drinks? Lena? Makes me all fuzzy inside just thinking about it!

Dawn

I had to miss the seminar Tuesday, the Hubby had to plow snow. We didn't get a lot but it was drifting pretty bad. I was soooooooo bummed out. There will be another soon. I'll just keep going to the club meetings & network there!
Yeah, we're getting another 3-5 inches today, that means Dean will be out all night and most of the day tomorrow...told you I'm a snow plow widdow! LOL!

Got pimped out on 2 properties this week, someone beat me to the punch!
A friend of Dean's father is selling his rest/storage units. Originally he wanted a cool million (yeah, right!) but now he'll take anything over $500,000. He owes back taxes...LOTS of taxes! I sent it to an investor to see if he is interested. That's it for today...time to shovel soon!

Dawn

Looks like I haven't posted for a while huh? I've been kinda busy I guess with family stuff and things WERE going a little slow with REI. But I'm back on the wagon!

I found another investor (through Craiglist) who wants to look at a couple duplexes. I sent him pictures I took (when I looked at one of them) and he wants to walk through them with me. He likes fire sales and just happened to know of one available in town. I did a drive by on it & noticed they started rehabing already & contacted the owner, sent details to new investor. The other has been out there since July with no accepted offer! Lowered the price to $68,900 now! Needs about $30-40,000 in repairs, ARV is between $113 & 127,000 but my comps didn't have garages & this one has 2! Both located in decent neighborhoods (not the Ritz by any means though)with other rentals.

Ya-hoo! He has an investor HE works with that may be interested. I will get a finders fee, of course!!! What? Get paid? Seems like I've been waiting FOREVER for something to happen for us! It may not be much but it's a start! I am excited to meet with him, hopefully this week sometime. Wish me luck!

Rina's "Partner in crime"
Dawn

My uncle from Battle Creek MI died on Monday so I've been a little down, but I'm ok now and getting back in the saddle!
I'm going to look at 3 duplex's and a couple SFR's either tomorrow or Saturday (or both). Just waiting to hear back from my realtor. Meeting with investor at noon or so tomorrow on the other 2 duplexes I have already looked at. Seems funny that my new investor is bringing the investors he is bird dogging for with tomorrow.

Still advertising for a partner on CL...no responses yet.
That's it for today, back to property search!

Dawn

I have been having a heck of a time lately. Just feel like I'm spinning my wheels...UGH! I showed a duplex to another investor/birddog and I think he went around me. He's not answering my emails. Live & Learn I guess. I was kinda mad about that but I'm over it now.

Found another Investor to work with. That's the good news. I have got to get something going here. I can relate to Laura, I'm feeling the same way. I am thinking about using Costal just to put in offers on REO's since that's mostly what we have here. I am so SCARED!!!! Guess I'll have to email Sissy to see how exactly it works, I have read the post but where in WI would they do double closings? Guess I just don't get that part, need to re-read the posts too.

Trying to keep my chin up. I applied for 3 more jobs last week, hope to get an interview... I don't WANT a job, I need a job, kinda helps with the bills and I really like my home!

That's it for now...
Dawn

Hey Dawn,
I will let you know how me and Bonnie's deal works out and We'll give you any advice that we learn from it.We are still trying to get all our question's answered so that we can do this right.

I think if you're not comfortable with a double close and the whole HML thing (me Too)We should do what Anita does.She was submitting her offer's with and/or assigns.I fell you can assign REO's without a HML.You just need to get tons of offers out and you'll find one that's desperate.That's what I'm going to do for now on.A HML will cost me about $5000 on a home that's $250K.That's a lot of money taken out of our profit.

Talk to you soon,
Jason

Yes, hang in there! You've got too much spirit to bow to any obstacle!
You can try putting in the and/or assigns on a bunch. if they all come back "no"s, at least you tried and maybe you'll get a lowball offer accepted anyway and be able to double-close. You and Jason might want to ask Jason (Build assets) about double-closes too. I know his transactions were a couple days apart, but technically it was really a double-close.

Any luck with the FSBOs? Have you been going to the auctions and REI meetings to get more contacts? I know it gets tiring sometimes, but just Plan. Do. Check. Adjust. I had someone remind me of that again today.

Give me a call this week. We can have an REI Phone Pep Rally OK?

Love ya sis,

Rina

Thanks for the kind words. I really needed to hear something possitive.
I'll get out there & put in some offers this week, it's DO OR DIE time.

The club hasn't posted the next meeting yet, but I will go when they do. I always enjoy it, though I do feel a little sheepish. (I know that's hard to believe!)

Jason,keep me posted, Bonnie is so cool isn't she?

And I WILL give you a call this week Rina, I miss you too!

Later...
Dawn

I'm new to the site but I already appreciate the support here. If you want it bad enough, things will come together. I'm sure I will start hearing about success stories in this journal soon.

Lonnie...

Thanks for stopping in! I am bound and determined to "make it happen". Just like everyone else, I have my bad days too. I haven't given up, I will be posting a deal here one of these days! I hope to read about your success as well. With all the support we get here I KNOW we will ALL be successful!
I've been letting obstacles get in my way but that's my bad. I have to overcome them myself, nobody can do it for me. I know that. This will be my year....I'm sure of it! See? I don't stay down for long!!!

Besides, Rina won't let me give up, will ya Sis?!!

Dawn