Linda's Journal (Team Atlanta)

Today,

I read a few chapters of the DG homestudy book and watched one of the DVDs.
I researched properties in one particular area with a few homes priced in the 40's --nice homes too, hmmmm. Another investor from FL actually offered to sell me a property in this same area. He was selling it for $60,000, said it needed $10,000 in repairs, and said I could wholesale it for $79,000. Now what do I do first...check comps in the area or make an offer before I see it? I don't know. Maybe after I attend the workshop I'll know.

Anyway, I've decided on name options and will file papers tomorrow to set up LLC.

Good night....
Peace and Blessings to you.

Today I attended the first day of the workshop. Great motivation from the instructor Matt. I am looking forward to getting into the meat and potatoes in the next couple of days.

I did not file papers for LLC as plan. However, this probably needs to wait until I complete the workshop training session.

I did establish the reason why I want to be a REI and where I hope to be 5 years from now. I read "Who moved My Cheese" and completed my overview of current resources.

So far, I'm very pleased with the workshop. And moving forward. Keep going!!!!!!

Peace and blessings.

Linda

Check comps first.

Good luck!

Karen

Dear Karen,

Thank you for taking time to offer your recommendations. I really appreciate it. I know our lives are very busy these days and so for you to take time to offer your suggestions is greatly appreciated.

Thanks! And, don't be a stranger.

Linda

Whew!!!! I'm beat! But here I am -- still keeping the momentum.

Today,

We finished the 3-day workshop in Atlanta with Matt Larsen as our instructor.
I acquired quite a bit of information from the workshop and am pleased that I attended. It was worth every penny. I promise to continue my education in real estate investing. I made good contacts at the conference as well.

I did some research about self-directed IRAs. I will continue to do this until I understand my options and consequences before making a move.

I received a response from a rehab buyer today as a result of the ad I placed on craigslist. This was encouraging. I will continue working on my buyer's list. I've received some excellent ideas from other DG family members. Thanks!

I feel empowered. Thanks DG Family.

to be continued....

I went to a REI association meeting tonite and learned a lot. They talked about creative deals. It's amazing to me what can be accomplished in this business.

I have found a Preforeclosure in a very good neighborhood with an equity of 200K. I've check comps online and it appears to be a potential good deal. However, it's going to auction on 4/3. I plan to drive to the property since it's nearby and see if I can speak with the owner. I don't think it's too late. I will call the support line tomorrow for more advice. Any suggestions?

I am not positive, but I would venture to say that if the auction is less than a week out that it is too late to get anything done on this deal-especially being a rookie.

If it were me, I think I would go to the next one. There may very well be others who would disagree.

Karen

Regarding the property I spotted, I decided to pass the information on to another investor. So now I have another buyer to add to my list. I responded to his Bandit Sign located in the same area.

I will attend an upcoming auction to check things out and maybe find some buyers. I will identify the ones bidding on properties in my area and see if I can get their information.

I have a few agents I'm working with to feel them out. I spoke directly with one who seems promising. He provided me with some good information on a property that I called on today. It's a HUD property...don't think I'm ready for that just yet. I'm guessing there will be plenty of bids on a HUD property.

I want to have made an offer by April 15th. We'll see. In meantime, I keep on learning...will attend an all day session at the GAREIA on Saturday. Work the Network!!!!!!

Peace and blessings.

Finally got the website set-up using Dean's free website template and was able to add a contact form and pictures.

Ordered business cards which I need like yesterday! And ordered a car sign for my car to promote my business.

Read over the purchase agreement form provided to us by DG. I will have to read this a few more times to be sure I completely understand the language.

I'm going to another RE session all day tomorrow and then I MUST relax the remainder of the weekend. Overall, another productive week.

Peace and blessings!

Today is 7/23/12...
Currently making offers on properties but without much success. The market in Georgia is very competitive. I did win one bid but had to let it go because there was not enough spread in the deal. Honestly, I think I was just scared to death when they accepted my offer!

Well I'm not scared any more. My networking is paying off and I have several seasoned investors who have offered their assistance. I attend the Dealmakers meeting every Wednesday to listen to their roundtable discussions. I've made quite a few connections with agents, investors, rehabbers and vendors.

It's been an exciting journey thus far -- and I'm still excited about doing my first deal. As of today, I'm waiting to hear if I have won the bid on a HUD property which I plan to rehab and flip.

To all newbies...Keep learning, don't give up and stay focused!
Peace and blessings.

I am very encouraged reading your post! Great networking too! You are off to a great start! Praying your first deal manifest soon!

Mg

I have been networking diligently. I have attended lots of REI meetings and sub-groups. I have searched the internet for homes. I have looked at a lot of houses. I have talked to many agents. I have made lots of offers. I'm doing something related to real estate every single day. And finally, the combination of all these things - and more - has finally paid off.

On Wednesday, I closed on a home that I paid $49,900 for. I had it sold and under contract the next day (a result of networking.) We close today. My profit: $8000.00. Not bad huh? I had planned to rehab the home but since I found a buyer so quickly, why not sell it. I didn't have to do any work to the home and made an $8000 profit. Gotta love it!!

I'm thrilled! But don't get it twisted. It is not easy and will take a lot of time and effort. The hardest part is finding a good deal.

So stay focused. Continue to learn all you can about real estate investing -- and perseverance will get you there! Look at it as a hobby you love to do every day.

Until next time..."Create a Great Deal"

Thank you MG. Prayer does a person good.

Hope all is going well for you.

Linda

OMG -- I'm so happy for you. I agree that perseverance is the key. And you hung in there and made it happen. $8000.00 is awesome. I'm celebrating with you.