Milwaukee-Steve's road to success!

Repost from 11/25/2012

Hi DG family,

In continuation I'm still working on my Buyers Performance Goals. Yesterday at 4:00a.m. I'm driving around the city ducking cops and business owners placing ghost bandit signs anywhere I can. BY 9:00a.m. I had to be at a first time meeting with a real estate attorney and I must say it was great he added fuel to my fire. We talked about so many things I don't know if he even know that I'm a newbie. We talk about assignment contracts and how much he loves to do double closings don't let me forget he owns his own title company and he says he charges a cheap flat rate. So let me tell you something funny. When I got home I see 2 massages from my bandit signs. Now I'm going to wait until the first business day to call them. But the funny part is one is due to me placing bandit signs in front of abandon houses. Can't wait to call!

Repost from 12/29/2012

DG family,

I'm still motivated it's been over a month and now I think I'm ready for the next step. Here's what I've been doing. Working on a cash buyers list and also I have an L.L.C. too. My cash buyers list needed to be up to 30 investors and now it is time to find an investor friendly real estate agent. So first thing Monday morning I'm calling Remax, Coldwell Banker and Keller Williams looking for investor friendly agents. I will also have 25 bandit signs ready and post ghost ads on the free online classifieds you have to keep your list growing. Then I can drink the night away bye 2012. IT'S TIME TO GO HARD FOR 2013!!!!

Repost form 01/29/2013

Hey Guys,

It's been a month since my last post. I thought I found a rock star agent but let me bring you up to date. Working with my wonderful coach she taught how to put a offer together so let me tell you the steps.

1. COMPS = 6 of the same type houses that's sold in the last 6 months, in a 1/2 mile radius, same sq.ft. + or - 300 and you want same year + or - 5 with a max of 10 years.

2. FMV = 6 comps of the houses sold. You take the sold price and divide it by the sq.ft. and this will give you a cost per sq.ft. So you do this with all 6 and you take highest and the lowest one and trash them. Add the other 4 and then divied that by 4 and you get your average cost per sq.ft. Multiply that by the sq.ft. of the house you want to make a offer on and you have your FMV.

3. Double Close Formula. ARV times % buyers purchases of ARV-Repair=Investors price-your profit$-Transactional lending$=Preliminary total times 3% closing cost=MAO. But don't give this to your agent go like 6k less for negotiating room.

4. Tell the agent your offer and let him know that 3 days upon acceptance you will have earnest money and a 14 day contingency clause for a good inspection is a must. ( We need the time to call our cash buyers. LOL!)

So I did step 4 thursday the 24th and I did'nt hear from him so saturday came and that's the day I talk to my coach I told her what I done and she said good job. But when I told her I have not heard from him she said call him because your suppose to sign forms the same day. So I did and I asked for a new list to make more offers. He responded by email saying he think the house been sold and when he finds out he will submit the offer and send me a new list. WHAT! I need the list now. So my first offer went bad and I think I need to find a new rock star agent. Cheers to making my first offer! LOL!!

Last nigth my offer was faxed to me and I signed papers. Wow! So this is how it goes. To bring you up to date I never called my first agent back so I started looking for a new agent. While doing this I'm still putting 25 bandit signs up a week and placing online ghost ads.

So I finally found a new agent good. I was so fustrated because I know that I'm at a point where I need to make offers and the ball just stop. Then I get a letter in the mail that breaks my heart. No my wife's not leaving me yet but if I tell her this she might start soon. I'm not going to tell her but I lost a credit card. Yep my debt to income ratio caugth up to me and you don't want to hear her drama. These are the not to do things.
1. Don't tell my wife.
2. Don't watch the news
3. Don't read the paper.
Get it! Ok this new agent is really new only been an agent for about 2 years so I have to teach her and be patient but she don't know that she's really teaching me and I hope she's patient with me. So the the ball is back rolling and I'm not sad about my card I had for about 5 years. I just have to stay in the game and things will be great. 25 signs and online ghost ads.
25:1 with 24 to go!

You are doing great. You have a lot of ambition, and you are headed in the right direction.
Can't wait to see what 2013 brings for all of us.
Glad we were able to meet and get some networking done. Hope your wife was understanding about the credit card
Talk soon, and let me know how the deal is going and if you need any help, you know the number.

Keep on keeping on! One step at a time. Good job!

I'm glad that you and Sandi were able to connect.

Karen

I will say this, I have had several people over the past couple years, contact me from Wisconsin area.
And Steve is very motivated. He is doing a great job, and we talk a few times a week. He has been out to my rehab house to see the progress, and he talks and walks investing.
He is going to do well, because he just keeps learning. But he also gets out there and doesn't give up.
He is so excited, that he keeps me motivated too just talking to him. Thanks Karen for telling him how to reach me.
I hope Steve and I will be doing deals together soon.

Sandi and Kareng thanks for your support it's really appreciated. I known I post in gaps I will try to stop. Yes I had a offer accepted friday and today I called it off. There was this agent that told me she had a pocket listing and she told me a bottom price and thats the lowest she could go so I put it under contract it was a short sale so I tried to assign it. I called my end buyers and they came flying but none of them like my price my numbers was good but they wanted it for what i got it for. So at the end of the day I call my agent and she said she felt it was price high also and the short sell people over priced the property. I'm not mad it was a good and fun experience I got to market my first property under contract and my aget is'nt mad she's like let's go find a better deal.

As Sandi said "He is going to do well, because he just keeps learning. But he also gets out there and doesn't give up.
He is so excited, that he keeps me motivated too just talking to him. Thanks Karen for telling him how to reach me.
I hope Steve and I will be doing deals together soon."

As you may know I get a lot of motivation from you. I read all these new and old post of yours and it's hard to keep up with you. Alot of newbies and vets need to find who are on this site and try to keep up also because we're learning alot from you.

I am thrilled that things are going well for you. Your attitude is the main thing. That is HUGE!

I am also very happy that you and Sandi have hit it off. I told you that you would like her. She is great! The girl is determined to win also!

Don't worry about posting in gaps. We all do it. I think I have a gap of about a yr on my journal. I started out pretty regular but not so dependable on there now.

Karen

I'm glad you are getting on this more now, and that you joined FB, and doors will keep 0pening for you. Hope you can make it to the REI tomorrow night, Dan has some good things to talk about.
And if you and your wife want to come this coming weekend to the rehab, let me know. Hoping to have the kitchen cabinets in and hopefully the counters. And the nightmare of the old cast iron tub, dealt with.
There is a Home Show in Jefferson the weekend of the 22nd, maybe you and your wife could come out then.

Thanks Karen for telling him to call me. Steve has so much determination, I hope he will be on DG someday telling his story.
Steve, more people need the spunk you have. You are doing great.

Looks like you are rollin' right along! You seem very motivated and your attitude is contagious!!! Keep the fire burning and don't do like I did....had to keep 'stokin' it. lol!

Keep up the good work!

Kareng thanks for being on site at the right time because if it was not for you no telling when I would find Sandi and Sandi I trying to plan for this weekend but I may be looking at houses. I really like your project I will be back out there. Old Southside you inspire me Monday and post your 1st deal Tuesday funny guy your and good dude. Thanks guys for still being here on this site.

No problem! We all just watch out for each other!

Just cking in on you!

Karen

Hey Guys,

I'm still here just been away from the site because I'm new to Facebook and I'm learning so much there. My wheels still turning but I feel like they have been in the wrong direction. Where I'm at making offers on REO's are not working so I have to regroup myself . I have a good agent that's putting in offers when ever I want but they're not getting accepted. So now I'm looking to add I think it's called tract codes to target areas to place bandit signs and do a yellow letters campaign. Also it's time I get a website that has a CRM. So I'm going for FSBO's and I will still put in offers with my agent but I want to focus on FSBO's to see what I can catch. My mind is made up I'm never going to stop and I have to be patient and keep going till I find my niche and when I do everything is going to blowup. I just want to say I'm still here but I think I'm addicted to Facebook. LOL!

This was inspired by a fellow DGer!