R-E-I Really Excited Investor Journal

I am in a writing mood today, so I will continue.

Okay so although I started in August and started with the blueprint and 30 days to Real Estate Cash book, I saw this as not that I had to accomplish this in 30 days, but hey if it is 60, 90 days, or even a year, I will keep going. So far, so good.

Well I didn't do a deal in 30, 60 or 90 days, but I saw people jumping in and someone who wanted me to join him, but later found him yelling that he was getting sued. Yes, there is always risk, but I wasn't going to jump blindly in. There are few things one needs to learn. Now am I saying it can't be done in 30 days, no, but I knew I had better have more knowledge or an attorney if I wanted to minimize my risk, which is a safer risk taker. I mean contracts must be legal and you shouldn't think as a newbie you can know enough to just to get by.

I also had as a newbie the upcoming holidays, where as someone who isn't established there is delays. I mean this not as an excuse but as fact. There was Thanksgiving and Christmas and people on here said it would slow down, so I resolved to take it slow learn as much as possible, and pick up in the New Year.

Well that is basically what happened. I found a partner in February and I progress in that I learned a lot, although the partnership did not work out. I have spent the last 3 mos feeling close to a deal, but they fell through.

So now, I am starting fresh again. And I have another partner I met in my state, and hoping to work out a better partnership, but as others state maybe the whole business should not be a partnership. I will have this slow 3 day holiday weekend to find my direction.

My motto is just to keep moving forward, and I feel that now. I have recently read almost all of Dean's books, and I have of course read many books on real estate over the years.

Dean's programs is the first one where I felt enough guidance to finally really jump in. This website is awesome and free to use. So although I have spent money on Dean's books, look what I have in return. Thanks to all of you who contribute to this site.

Wishing all the best to everyone! Til next time... I am again 9 mos into my REI journey!

I am not always really excited in that I am happy, because this has been work, and I have felt burnout. But I am really excited for the possibilities, and will keep on pursuing and doing the work to make it at REI!!

Tammy,

All any of us can do i keep working at it and it will happen. Thanks for sharing.

I agree with you. Just keep plugging away and work as smart and efficient as we can we are bound to get there!

I've been doing REI about the same amount of time....still plugging away ever day to get a first deal. I too have come close, but no ringers yet! Oh well, on to the next potential deal is what I do. I don't let it get me down for much more than 5 minutes or I'll lose momentum. I have dreams where I finally get my freedom! I really look good in those dreams too! I want it, i'll get it....sooner or later!

Happy journey!

Linda

I have come very close too, but they fail through. I am not discouraged, and have invested more to keep this ship afloat! LOL!! Thanks, for stopping by!

And thanks for stopping by. Your always so chatty! LOL!

I am still trying to decide in which direction to go. I am trying to partner with someone here in Arkansas and I have also just bought a new software system.

Today I am reading, "Investing in Real Estate with Lease Options and 'Subject to' Deals", by Wendy Patton. I have been so busy this week setting up a couple new websites and trying to decide if this is the right direction. I may phase my old website(s) into this new one(s), or eliminate the new ones, and keep the old one. Busy, Busy, Busy!!

I have been reading the book listed above and learning my new software. I have also been looking for a good lawyer/attorney. I added a number of new cash buyers to my list by using the new software I bought.

Hoping for things to really start moving along. I have a couple ladies who want to help me sell a house, but that I am just not sure about at this time. I have lots of very motivated clients, but some of them it does not seem that I can help. I hope for a smooth transition from my old partnership. As of now I don't know if I will be partnering and exactly how I will be partnering if I do so.

I especially want to thank Lori Hill and Valerie for all there help. Mike D and Karen as well.

you both have more knowledge than you realize i'm sure of it. sure of it because i've done the same thing, but until you get over the hump and put that knowledge into action everything will be the same for you. i've found speaking for myself at least that even though i knew all this stuff, when it came time to implement thoughts into action i was petrified and felt as if i didn't know what i was doing. i knew the questions to ask but didn't. i couldn't find the words until i hung up the phone, or stammered in front of people so bad i looked like what i was... a rookie.
i said that to say this. you can learn and learn from books and reading, but it's the actions that'll make your life better. it's the actions that with repitition will come easier and easier. i'm still working through my own hangups so don't feel like you're alone. i used to not like new things rocking my world, but stepping out of my uncomfortable comfort zone is exactly what we need. we need to look forward to it. we need to embrace it. life is good, but we can make it great. it's all up to us. now get out there and keep making progress.
keep moving forward, rob

I am trying to heed your words. I finally found an REI club and got a response, now just to clear up some confusion on dates and times that seem to be incorrect.

I am sending my contractor out to a house this week, and contacted my re agent again. I am still actively trying to get my paperwork together.

I have worked through most of the training on my new software and really moving along. Happy the the software seems to offer so much.

I have been really busy learning this new software and reading. I have been working with several people and so I stay quite busy and feel the progress. I am sure hoping to do my first deal soon. I continued to learn new things as I progress and can see such a difference than when I first started.

Each step, whether working with a partner or whatever has helped me to advance. Now with the software I feel more confident in gathering information and moving on my own.

there was a young man who in the late 1940s loved music and bought all of his favorite songs on 33 lp records. However, he was told that they would sound better on 45 records so he went out and bought them. Just before he started playing them, he was told that the fidelity was much higher on the 8 track format. So he waited and bought everything in that manner. But right before he started listening to them, he was told that listening to cassettes was the way to go because the music was much fuller. So he opted to go that way. Just as he was getting ready to pop one in, he was told that having his music on CDs was the best way ever to listen because everything was digital. It took him a while but he bought all the CDs, but while he was waiting, he read that having everything on audioDVDs gave the widest listening experience of all time. So he is in the process of buying those.....but the hard cold fact is that he still hasn't heard the music. Don't be like this guy.

It's a pretty long story but with a point. Sometimes Tammy, you just have to go out and do it and stop planning. Reading books, working on new software, even writing and reading forums here have their limitation......you aren't making money. And the biggest factor is that I think you are a pretty smart cookie. I've talked to you before and I can tell. The first deal is always the hardest (for most people) but once you have accomplished it, you will be fine.

I hope you accept this in the spirit in which it was meant because you have it in you to be a winner!!

No, I didn't take it the wrong way, and glad you have faith in me. I am really trying to pull the plug. Guess you are saying I really just have to pull the d&()Ng plug!! LOL

you can do it!!

I've watched this post for weeks and I finally have to do this...I cant take it any longer-

@Tammy...P l e a s e edit this post title and spell "EXCITED" correctly, you did so in post #2 ...I too know you have it in you to b a winner!
Focus on deals

@Bill...exactly

I don't want to exit yet, especially with you guys telling me I can do this. I really appreciated it coming from you both Bill and Mike! Excited! Excited! Excited!!

Ughh! About sums it up. I feel like I am dragging my feet! Yes, I am avoiding making offers, because, 1) I keep worrying about what that lawyer told me, that assigning is illegal. 2) I asked another lawyer, but haven't heard back from him, 3) I was told to get a line of credit and just purchase the houses outright.

I know Michael M has already scolded me on this, but if someone that is a lawyer tells you something is illegal, then you get kind of cautious. I was now thinking instead of putting under contract that I will put my deals as an option to purchase and then if I find a buyer assign the contract. Yes, it is still assigning, but I am not tying up people's property and backing out. I think this is what the lawyer was worried about, however, she did say that I would be a straw person and it is illegal. Hmmm, so today I am looking for that line of credit.

I can't give up, but just how I am going to proceed is the question.

Lets see what I come up with by days end. Update! So, I have been looking for weeks and left emails, but still no lawyer. I either can't reach them by phone, they are on vacation, or in the case of one he hasn't answered my email.

So, I tried one of the places I contacted before, still not in. Called another one and he doesn't even have a voice mail, so I left a email message at a new place.

The reason I am looking for a lawyer instead of a title company is because this is the way Matt says he does his, and also because I was told assigning is illegal here. So I figure I better use an attorney and not always be fretting about the deals I do. I sure hope I get a call or email soon. Here is what I wrote:

I am looking for an RE attorney. I am a new investor and would like to know if you can do the closings for my deals instead of using a title company. I would also like you to hold funds in escrow. I would like to know that I have an attorney to represent me. I am wanting to know your fee and if you are paid up front or at closing? Since I am new I am looking for new lines of credit; I would like to start out wholesaling properties. I would like you to handle any contracts that I may assign to an end buyer. I thank you for your consideration and any advice you can give to me as a new investor in real estate. Thank you. Tammy Watanabe

I would likes>... @/@

Yesterday was the beginning of summer! My how time flies. Today I talked with my REA to verify my comps on two homes. I also scheduled a time to see the homes with my contractor. I also did the paperwork for my LLC. It was a slow day otherwise.

Last night I cancelled my new membership in the software, because from what all I read I did not need to pay an expensive monthly fee to get what I can get for free. Now one good thing about the software was that everything was in one place, my buyers, sellers, contracts, marketing material, comps, and websites.

However, what I found by using it for the trial period was that I could use findcompsnow.com like Mike D said and get the comps. That is the main thing I liked and used about the site, so why pay for it. As for their websites, I had little control over the website and did not like it. As for buyer leads, not the only way to get them. For buyers signing up on my site, I found that they were only wholesalers and wasting my time. As for sellers, I still referred to my notebook where I have them organized. I didn't like the marketing material so much and while the contracts were great to generate, I can also get them right here.

So I decided to keep $200 dollars in my pocket per month and not throw it to the wind.

Today, I am looking for sources of money to fund my deals that I am coming across and waiting for comps from my RE agent who said they would come by the weekend. It seems better just to leave the agent out most of the time.

I did the paperwork for my LLC three times on legal zoom, but for several reasons it did not go through, so I have to call them up. I have decided to maybe wait as of course many people have stated that it is not neccessary at this time. So I am just looking for my first deal and concentrating on that right now. Cheers!

to go ahead and form my LLC. I know I could have waited, but I wanted to print up more business cards and have a legal entity for security and tax write offs as well. I think this will be more professional as well.

I also found my line of credit for now; although it is not large in the rei world, it will be enough to get started on a few deals I hope. Pushing forward everyday!

So I printed up new business cards and new signs for my car, as I had to get a local number besides the google voice, because I did not like the way that system worked for me. I also put My new company names on the signs as well. Tammy

Dean said to do whatever it is that you are afraid of, and so I plan to put in an offer this week. I had run the numbers and checked out the house last week, but then the news said our taxes were going up and that homes would be reassessed. Sure enough the home I was working on had actually changed, but the value appraised went down, so I had to reevaluated the numbers. No biggie! Today came around and I started to get cold feet, so I ask someone on here to help me. Still trying to get it done. Where there is a will; there is a way!

REI meeting is tonight. I, however, just read that it will be moved to another venue in a pizza parlor. I am finding this dissappointing as I will not know anyone, yet I will show up and have to figure out where the group is at and try to fit in. So it will be a more casual intimate meeting, and I just don't know if I want to go to that as my first meeting. I did send an email to try and see who I should look for. I don't even know if there are any other women. Hmmm, still debating over here.......

The last two days I have been making a real estate purchase contract, and so now I need to find a lawyer to look it over. I based it off a simple contract online and our state contract. I have a much better understanding about contracts now though.

YOU are writing/creating a RE contract, WOW!!! YOU should be a lawyer.

STOP wasting time on things that dont matter and make offers

As DG Superstar Jan Malek said "REI Club/meetings, the 2nd best thing I ever did"

You have contracts, even the ones that I sent you- use them!
Follow the yellow brick road, the path has been laid out for you

Casual attire to REI meetings is the norm

Yes, I have decided to go. I connect via email with one person who told me to look for him. Thank you about attire, he said he would be in casual attire with jeans and polo, so I guess that I should accordingly. I think this meeting will really help me out a lot, at least I am hoping so.

I have read your entire journal and I am so glad you started. I too am currently taking some steps to get moving...I have been reading and studying for what seems like forever but, my actions steps were not making me any money and not bringing me any deals. SO I decided to get moving.

I am excited (spelled right) LOL to see what is next for you. Keep going and remember action is the only thing that can bring results.

First off; thank you Erika! We are moving! So I wrote about my hesitation to attend the first meeting since the venue changed and it was going to be just some old boys and a more intimate setting, vs the formal one I had planned on attending.

Got there and there was a whole table of people, but not the person who recognized me, and in fact he came late. So I shuffled a table into the group and turns out that almost everyone there was new. Many had attended the fortune builders workshop a couple months back. And one gentlemen and his wife have already bought first property and said they had more than they could handle, so offered them to another guy there already. I networked with him and he told me to call him. They gave me some great tips.

So anyways they thought only 4-6 people regulars would come, but there were those and about 20 other people. I got a lot of name cards, however, most people didn't have cards, so I had them write their info on the back of my cards, good thing it was blank, but used alot of my cards. ARe they smart or what? LOL! Got cards for an attorney and a CPA that I plan to call today. Will make some calls and/or emails to the people I met last night. A lot of people came with spouse or as a group. A couple of people were so quite and shy. The gentlemen in front of me and another lady, but I still got their information, so I will contact them too. While some people were new to the group, they had already invested, however, many where new to the group and investing, but where really in the trenches.

The Disappointment was that the regulars didn't make any effort to connect, but sat at one end talking amongst themselves. The newbies went finally and starting talking to them. I got to one of them, but the others just kept talking and didn't bother. The leader of the group however, worked the rooms, and we had several booths and tables behind us, so while I thought I would get to know him better and all, I barely talked to him either. He also ran out of cards, but I told him I could get his info online, and that he could give his last card to another gentlemen. Glad I went.

I haven't posted for a couple of months and that is because I was in transition for my company. I am now a liscensee at Trustpoint Homes of Little Rock, LLC and working with Bill from TrustPoint Homes. I feel very close yet again to making some first deals. Yes deals. You can find me at Trustpointhomesoflittlerock.com.

I also joined the Insider Elite program and hoping these two things will really help me to get on my way. Thank you to all the people who have supported me, especially Bill, Mike, and Valerie. Well there are many more, but I guess I would be naming a lot of names here. Thank you for those who have supported me here as well on this blog, Rob, Linda, Jean as well.