Laura J's Journal

It will work out, look at the brite side,the 20th is only 9 days away. And since they really want the house, something will get done one way or another.
Oh the jersey homes i have been looking at, some are from an auction site i belong to. I look at property all over the U.S. I sent Rina one to look at I thought was a great deal near her.( I forget the area). Don't know if she looked it up with all she has going on already.
good luck
Richie.

First - I'd like to say that I have been spending alot of time reading and posting on the site - and its so exciting how many new DG members are taking part in the forums and sharing their journeys! This family is growing by leaps and bounds!
So here is some updates on my deals:
First- the closing mentioned in the blog was delayed as I said above. No new word so I am counting on closing by the 24th at the latest. Not the biggest deal, but it had me scrambling to move funds around and cover payments that I was planning on just paying the debt off completely after the original close date of the 9th. Plus I need that cash for my next deals too.But it WILL all work out!
Second- Moving forward with the assignment from Rina of my second income property in Wisconsin! When we were in Phoenix Dean actually signed the assignment form for us! So naturally a COPY of that will go to closing! I've enjoyed the original since then- just seeing DEANS signature as our witness is amazing! But I am going to pass it on to Rina. For all she's done to support and help me in my journey she deserves to have that priceless memento
Third- Another DG member from south jersey contacted me a while back - Mike. He had seen me in Profit Right Now book and noticed I was from a nearby town. We emailed each other, then connected by phone. His goal to start out is assigning properties. So i told him my criteria and low and behold he found a great deal outside of Philadelphia! So that deal is moving forward nicely as well.
So it looks like I will have two closings coming up in the next several weeks!
(Another reason I MUST close on my flip!! Thats where my $$$ is)
Fourth - Besides all the rain flooding the east coast here - its raining deals for me! The house Richie and I looked at that went under contract while we were doing our due diligence has come back on the market!! So I will be running my numbers intensely this weekend to see how I can possibly manage to swing three deals in a month. Oh my gosh - THAT would be craaaaaazy! I got goose bumps just thinking about it.
Guess I better get out that calculator and get started!

great job that is all very exciting to hear!! good things happen to good people!!!!......oh yeah with action!! excellent work glad to hear the miracles are happening after all the hard work!

Just came back in to post that I was going to attend my first real RE group meeting Monday night! Mike, who is assigning me the Pa. property told me about it. I'm very excited and motivated to attend - and also meet him in person! Hoping to see Richie there too By the way Jay - do you have a journal going?

Laura, that is awsome that you are flooded with deals. good things happen to good people. I remember when you were getting frustrated trying to find a great deal after your first flip, that seems like neons ago! I know you are spread out all over the place lol, So don't worry about me, do what you need to get the others you are closer to finishing done, If it happens than great. I don't want you worrying about getting a deal done with me. It will happen soon enough.
good luck and I hope you feel better, we have a meeting to attend MONDAY!!

yes but i havent posted since nov 11 been working 7 days a week 10-12 hr days.its under jbtoggs journal and i believe u posted in it a when i first started it.i know u r busy so u prob forgot as i do.i cant remember what i did yesterday as it gets so hectic!! thanks for reminding me i have to post in it.i get on this site every free minute at work when it rains cause we cant work on electricity when its raining.sometimes i just read on subjects and try to look at a few journals and yours is one of them .thanks for all the encouragement and inspiration.keep up the momentum laura!!
jay

I am going to go find it and bookmark so I can keep up with you too! There is so much to read on this site and so many new members every day its exciting, but also makes it harder to keep up things...thank goodness for bookmarks. So keep making entries - I'll be checking

Laura,

I enjoyed seeing you in that interview with Dean. You appear to be a very genuine person and I like hearing how you and Rina are working together. I wish you all the success and prosperity that God has promised.

Tim

I appreciate your kind comments. Dean, real estate and the people on this site have changed my life and its so exciting! I wish you all the same success and prosperity as well and look forward to reading about them here!

Hey Girlfriend! I left a post in here earlier this morning (..thought I did?). Anyway, just wanted to say "You are on fire!!" Fun! Fun! FUN! to watch you go!!!
Just think back.. SO amazing what one humble (yet phenominal!) man on a 1/2 hr infomercial can do to our lives, huh? I know how it feels to BE the person affected, but it is so exciting to watch YOU from a distance, and so many others. Makes me so proud to know Dean now, and be a DG family member! Woohoo!!! And now you and Richie teaming up. Just a matter of a short time, my friends and we'll be reading about THAT rehab.

Oh, and you don't have to give me the assignment contract.. It'll just make me more determined to get something bigger! LOL

Love ya!! Glad you're feeling better!

Rina

I was just reading YOUR journal...and love the idea of going back to the beginning and reading the start of my journey, and then making a list of all those initial goals and fears and compare them to where I am today. What a great thanksgiving idea! Now to find the time I'm over the flu, thank God, and going to my first RE meeting tonight and meeting Richie and Mike (the other DG member who is assigning me a property) Really looking forward to it! Still working on my flights to come out for the closing...

Glad to hear your feeling better Laura, I have my maps and am ready to go.
I think its a 25.00 fee to get in, am i correct?
I think I found a monster hold property, I have been following it for a while, It will have to stay on the back burner,but if i read into it correctly and my numbers are good, it will be a great cash flow, Its a big step because its commercial, but we can be set up really well if it works out they way i think. I will give you detail on it tonight. Right now my focus is on the other house.

Richie.

Wow - sorry we didnt have much talking time last night as the meeting got right under way. Do tell more about this commercial property. We should explore all options as you never know which ones going to come through. I like the meeting - and I think getting there earlier next time will be my goal. More time to actually meet people and network. Funny that you beat us there and I got lost haha. Talk to you soon!

Yea that was kinda funny when you called and asked me where the exit was lol, I kind of envisioned me calling you for direction. I followed my maps up to a point and then for some reason listned to the GPS the rest of the way, and it took me a different way which made me nervous, at one point it said recalculating and i was like oh noooo, but it did get me ther after that:)

I guess Steve told you about that commercial property i found and have been following. The numbers look unbelievable which makes me wonder why its still on the market, but who knows, cover all bases and due dilegence and see what comes up. If i am correct,it could cash flow 6k a month safely,probably more. I always go by sec 8 numbers because on that type of building. I told Steve it is a big jump, but what i really would like to do.
Here it is, its a mix property, bottom is rented to a pharmacy, which i like because they will never go out of business, it has 7 2-bed apt and 1- studio. empty lot next to it can be purchased with it and it has a 99yr lease with a co i think for a phone tower with yearly increases. It says apts will be delivered vacant, and that they need some renovations.
I would think HM would have to be the way to get something like this and refi it with a commercial loan asap. That scotsman guide is a good resource for that as i have seen lenders reply to people looking to do it without seasoning. Problem is getting the HM first. I actually have a game plan in my head for that building.
We can meet and chat about everything when we both have time, either i will take the ride and meet you guys for lunch or visa versa. I'LL tell ya this is getting exciting:) .

talk to ya soon
Richie.

Laura, I am so excited to read your posts along with B.C. I hope you guys land this "big one" and are really successful. I left a post on B.C.'s page about a commercial property that my friend owns that is very successful. Keep working on landing this one. I would expect that it will be very profitable.

Tim

We definitely need to set up a meeting and plan to just talk business and details. As I said about the HB house - the realtor is away till Monday - but my paperwork is in order to put in the offer. I'll look forward to hearing more about the commercial property too - price, monthly overhead expenses, taxes, etc. Oh, by the way - do you have the listing on HB house with the taxes? I need that info to put into formula. Email me if you do ok? Looking good for that though....now just waiting on John. The holiday week will probably slow things up a bit next week too - but I'll push as hard as I can.
Talk soon!

thanks for your comments and encouragement! It is exciting to take action and get close enough to your deals to 'taste' them Just gotta keep putting lots of irons in the fire and see what ignites!

I agree with you Laura, if you just keep trying you will succeed.
I can't believe how lucky I am to have befriended people like you and Rina and a few other people here. I always feel people are brought into your life for a reason.
I hope that that HB deal goes through so we can both move closer to our goals. I can't thank you enough for working with me, I hope this becomes the first of many deals we do together.
your friend
Richie.
p.s. did you fill steve in on our road trip lol

1. NJ Flip House: after two delayed closings - it is now set for the end of next week! Hoorah!
2. Wisc. assignment from Rina: This was supposed to be the 30th, but because of the above delay it was delayed. So as soon as I close on Jersey - I will then close on my investment house from Rina the following week. Yeeha!!
3. Assignment from DG member in Pa.-unfortunately this deal is not going through. My fiance (and investment/rehab partner) and I sadly broke up last week. So I was forced to use hard money for this deal, and the numbers did not work out. Thankfully Mike (who was assigning it to me) has a couple of backup buyers so he will still be able to complete his first deal....but I lost out on a good rental prop. Dang.
4. The offer on the NY house with Richie is on hold. The realtor called me today to say they accepted a different offer, but ours was 'runner up' so to speak. If the other offer doesnt complete their contract and show the money in one week it will spin off to us. So....that would be awesome and I'm sure hoping we get that call! (Dont worry Richie-Steve will still do the rehab on this deal)
So thats whats new with me. Have a few other potential offers out there, but now I am looking to build new relationships with contractors for rehabbing. But its just a bump in the road.
Wishing all a fabulous Thanksgiving!

OK, Laura. You can have ONE day to relax and count your blessings! LOL

Actually, look at your post. Did you think just not long ago that you would soon have to NUMBER the deals you're working on to keep track of how many?? How cool is that??

Love ya!

Rina

P.S. again, sorry about steve..

Congratulations on your closing laura!! If we get the call next week i am ready!
If you need anything don't hesitate to give me a call.

I am so sorry to hear about you & Steve. I hope things work out for you.

Richie

Hello My friend,

Just wanted to stop in & see what's new. Sounds like you're keeping busy. Congrats on the house with Rina, and your closing! That's cool! Go get 'em Laura, you're awesome!

Sorry to hear about Steve too...
Love ya,

Dawn

way to go !! keep up the motivating spirit and awesome action taking on your part .i like the many irons in the fire you speak of and igniting!!!!!!wont be long and u will have yet another deal in the bag!!great job laura!
jay

Laura,
I had seen the new blog this week and they were talking about a buyers list and bird dogging/flipping contracts as "the" way to start out in this business. I was wondering if you started this way, by bird dogging and then moved onto your deals. I say or ask this because I think it is very possible to get started in RE without having to be a bird dog as a first step. Anyway I was just wondering how you used bird dogging if at all and if you thought it was that important. I guess the real title of the blog this week was building a buyers list, but that was support for bird dogging deals.

Hope you and your family had a good Thanksgiving!

Hope to hear back from you soon,

Jeff

Hey all, wow - time flies when you're busy! I cant believe how long its been since I've logged in and caught up with everyone here! I expect to be here for hours reading and posting haha. Thanks Dawn, Jay, Richie, Rina for your comments and support - its always appreciated and keeps me going! It feels good to have paid off all the debt from my flip house, and now proudly own another investment property in Wisconsin. Just closed that one today! I had an idea hit me the other day, wondering where else I can find really affordable rental deals. I remember when I was in S.C. in an area with 6 colleges. So I contacted my friend who is an admissions director at one of them, who then hooked me up with a great realtor. So in two days of emails I have a ton of potential income properties with renters already in place! I will making a trip right after the holidays! 2010 is going to be a break out year...I can feel it!

Thanks for dropping by my journal - sorry I havent responded sooner. To answer your question...no, I did not start out bird dogging. I was in a financial position where I had a Home Equity Line to draw from, as well as money from family and friends. So I jumped right in learning my market and buying flip houses here in Jersey, and taking assignment of investment properties from Rina which produce great cash flow me. There are so many strategies, everyone just needs to find the one they are comfortable with. Hope thats a satisfying answer
happy holidays to you and yours!

Hey, I just wanted to congratulate you on the closing on the NJ home. And also on the closing with Rina. 2 deals done back to back!! AWSOME!
And thank you for the copy that Rina sent me to look at.
( you know what I mean).
Keep going Laura, I know you will reach your goal soon enough.
Your friend
Richie.

I've missed you How are things? Are you still working on wholesaling or keeping your eyes out for rehabs up there? Not sure how far that Woodbridge REI group was for you, but I plan on attending the regular monthly meetings so maybe I'll see you there again sometime I hope. Have a wonderful holiday season with your family! Are you getting this snow???? Its like a blizzard here right now, and sadly they canceled my sons flight who was coming in from the Air Force...now he doesnt arrive till Monday...bummer. But better safe than flying around in this weather I guess. Talk to you soon! xoxo

Hey, Laura! Sorry to hear about the flight being canceled, But atleast your son will be here soon. Yea we are getting the snow buy not as bad as you are,we have a dusting. I was in your neck of the woods last week, I took my daughter on the polar express train in NJ, It was on the border of P.A.
Went out early this morning to find some properties for my one good buyer. I found 2 now I have to find the owners. did my shopping along the way home.
You know, I have been kicking around if I should join that REI group. If there is no traffic its about 1hr drive for me. I may join for the 150 just to be a member so I can go when i want to the meetings.
Enjoy the holidays also, and tell your son I said thanks
I will give you a call soon to say hello.
Richie.

Hello Laura, just stopping in to say hello and happy new yr.
I hope you enjoyed the holidays, Well I finally took that trip up to the mountains, I really needed to get a way for a while. I ended up taking my son and his friend with me. Had alot of snow on the mountain so they took the snowmobiles out all week end long and had a blast.
I was able to sit and relax and figure out what to do when I got home. So now that the holidays are over I can focus on real estate and try to make 2010 a great yr.
good luck on your future deals! I will be watching You may run into me at the meetings I am not sure yet,finances are a little tight after christmas.But for now I am going to go to 2 in NY this month.
talk to ya soon friend
Richie.