Donna's road to Success

January was a good month. We closed on 2 houses and have started the rehabs. It is the first time we have done it but we found a contractor to rehab 2 of the houses. This is a huge step for Dan. He always wants to do it all himself and he just can't. Besides he needs to be looking for deals instead of swinging a hammer.
Our Ohio house is moving slowly, at lease to me.. patients Donna. Painting finally starts tomorrow.
WE went to a REIA meeting and have had a number of calls from potentinal buyers, mostly new investors. I like sharing my knowledge with them, I don't know much but I will share what I have.
Things are moving right a long for us. I am still working on my Realtors license so that is slowing me down. I made an agreement to get it done ASAP for our company. Our plan is to manage other investors rental units and I have to have a licenses to do so. It has been good knowledge but it slows me down. I need to get back to the DG education. But I have to get that out of the way first.
I have made a few offers this week but it seems like nothing interesting is out there right now. I am wanting to find out how to assign an REO, ya know wrap it up in an LLC. Can anyone point me in th right direction with this?
Oh while back I was asking for information on how to involve my son. Well that little turkey, him went and found himself some private money! Now how awesome is that. So I am working on finding a deal the we can join forces on and splint the profits with him. I am so happy that he wants to pursue real estate. Our daughter just wrote her first purchase and sale agreement. I am so glad my children are part of this. More later..........

We found some more money!!!

One of my co-workers has offer to us 50k to invest. He does not care what we buy. He told me if I like the property that is OK with him. This will be short term money probably 10% for 12 months. 2 points up front. And I will try for no payments until we sell. Yipee!
Our second bunch of money comes from another co-worker who wants us to find properties for him. He has 200k to invest and will pay us 2-3k for a finders fee on each property. I am surprised and amazed!
The third bit of money my son has found. I do not know how much yet. His private person wants to fund 100% of the deal and splint it 3 ways when we sell. no payments until we sell and no interest, just splinting the net profit. Between, me and my husband, my son and the private money person.
It has been a good day
tomorrow i will be making more offers from the MLS and connecting with a few FSBOs.

good work Donna

I will call you in a day or so

Take care Fred E

Thank you

I have been talking about our business to my co-workers for years now and I guesss people are finally realizing that I am seriously investing.
The lesson learded here is tell everyone what you are doing, share your success stories with them.

Talk to you soon

We have 2 accepted offers! I have made about 15 offers since our last deals. So, now I have to get the financing lined up. Wow, all of this is so exciting. The first deal here is where I need some help... please
The deal is a bankruptcy. the offer was is not assignable, and it say it is a cash offer, private money, The accepted our offer 30% off FVM.It is a very nice house in a nice neighbor hood. The house need some cleaning and appliances. It is cute. 1400sqft. I have been repeatedly offering on this house. I got them down from 155k Not too bad but not enough discount to keep for myself. I have a buyer. I don't know how to do the rest.. My private money people will charge 6 months interest. I need some ideas Please.
The second house is a 4 br, 1400sqft house REO, need 5 to 8k to fix up We will fix it and sell it. This one The bank accepted my offer of 90k ARV 165k.
On both of these I made multiple offers.
We have 3 rehabs going on right now and all progressing nicely.
they should all be on the market In March. We have had some activity on our listed houses nothing solid yet. My business partner keeps telling me "Nothing is proven yet! We better be careful. We are over leveraged as it is".
Have a nice weekend.

It has been a long time since I have been on the website. Not that I do not miss it It is that I was consitrating on gettting me realtors license. And I did! We will see how that works out.

Not a whole lot has changed. we are still working on the rehabs. 2 will be in the market in a week. The other will be by March 31st.
I feel I am at a stand still. got to get back in the game.

Nice to see you back in the trenches again. How do you think that RE license will work out for you?...Jan

Jan,

Thank you so much for responding. I am in need of the encouragement right now.
To answer your question,I am not sure. But in order to manage other peoples properties I have to have it here is Washington. So we will see.

I had been focusing on REOs but it has been hard to find buyers. Our market, like everyone elses I am sure, is saturated. And I can't buy everything myself ha ha ha ha!
What I have been neglecting is utilizing Deans Success Academy. But that is going to change, cause this investor is going to get busy!

Donna, keep up the good works You really inspire me to get going my down fall is the internet I DON'T know it so it's a little difficult for me God Bless your Daughter. I am very happy for this DG Family. Especially people like Rina, Indiana Joe, You and ALL .Donna,
Keep us posted. Vee.

It is so nice of you to say such nice things. You can master the internet. It takes time and practice.Again thank you I appreciate it soo much. Sometimes it is lonely.

It is so nice of you to say such nice things. You can master the internet. It takes time and practice.Again thank you I appreciate it soo much. Sometimes it is lonely.

My husband and I have spent the last two days putting the finally touches on a house. I am so tired. We have been spending every spare minute working on one of our 3 rehab projects for the past 3 months.
Our first house is not selling. We purchased that house months ago and fixed it up.
It has been on the market for 65 days, we had one offer which was very low. If we drop the price anymore we will lose money. I think I will do a lease option or just rent it out. We just have a lot of money tied up in it. Please advise.

We are as broke as we can be. When I signed up for the academy I planned to be on a fast cash track and have most everything paid for by the new year. That has come and gone. I need to focus and get back on track. Today I am overwhelmed. But that does not mean I am giving up because that is not in my nature. WE have one house done and 2 to go.
I still need to improve my buyers list.

I have been reading Matt's and Carols journal and they are helpful.
I appreciate the inspiration from everyone here.
Thank you

I have been working at the hospital today which isn't all bad. Lots of contact there. spoke to my most recent private money guy today who is now telling me he wants to purchase some houses and in a few months he will have more money to invest with us.. ;0)
I am working on lease optioning our house that isn't selling I placed an ad craigs list and I have about 10 calls to return tomorrow.
We heard back from a bankrupcy deal today we are in first position and we should know with in a week. another offer we made we are in back up positon both these deals are offers I am making for another co-worker of mine. He is a doctor and want to purchase 5-6 houses in the next few months and is willing to pay me a finders fee. So fash cash I am looking for you!
tomorrow I will be
1.following up on my phone calls
2.showing my LO house to potential "owners"
3.Placing new ads
4.complete at least one ITS chapter
Have a great day!

Hello Donna

we need to meet

sooner the better

I can help you with all this overwhelming stuff

I was a REALTOR once and i have lots of valuable information that you can use just ask

we can work together on this stuff

Later Fred

Thanks for the offer Fred. What do you have in mind?

As for my goals
Caught up on all of my calls
completed 2 chapters
I lease optioned 1 house for 4000.00 up front on a 2 year contract!
placed all ads 2 ghost ads and rental ads
rented one unit to an acceptable tenant

I am getting a great response to one of my ghost ads and nothing from the other one.
Working on my buyers list. found a new buyer today.

Happy Easter everyone,

Working at the hospital today. I kind of look at as networking
We successfully signed up another private money person this past week at a 9% rate for 12 months.
I am working on a deal with a local bank for 100% financing we will see what happens..
I finished another chapter yesterday.
have a wonderful day

yesterday My duaghter and I developed a on line scheduling calendar for property repairs and tenant requests.This should help with communication.

I finished 2 more chapters and off to work I go.

Have a great day everyone

We got an offer on our first flip! It went on the market a week ago. We have a full price offerat 125k If all go well we will net approxiamaitly 30k. We listed it about 10% under market.Just like we were educated to do.
We will see what happens.

I will focus this week on trying to find properties for my doctor buddies. A on calling FOR RENTs to find buyers.

I had a blow out with my project manager. He didn't like my selection for back splash.. Well I thought he was taking to long so I did it myself. Really erks me that he doesn't think I am capable.. but what I remembered is that My time is better spent finding and negotiating deals, not manual labor. It still hurt my feelings though because all of my spare time I have spent working there. So basically I have received a gift of time

It is snowing here today.. crazy spring weather

We got a back up offer on our first flip. The other agent was mad because it they weren't first. Thanks To everyone for the encouragement.
Almost have our second flip on the market a few more days and it will be ready. I dpn't think we will take on so many at the same time again.
I have new ads on Craigs list and have been getting TB calling and emailing me. Finished 2 more chapers of ITS training.
Have a great week everyone.

A lot has happen since I last posted.
the buyer on our first flip backed out. my agent called it Buyers remorse. So it is back on the market.
Our house that has been on the market for 77 days not only has an offer but the inspection passed and it is in escrow now. :)I don't want to celebrate too soon.
The spray paint house goes on the market monday. It is very pretty!! And I hope it sells fast.Broke is not where I want to be.
I spent about 45 minutes on the phone with my mentor and she gave me a lot of good ideas on how to sell my houses. One of the good things I received from her was that "we" as investors have to take control and be the aggressers. We cannot sit back and wait for the phone to ring. We have to take action. TODAY!
the second thing I learned was that I still need work on my buyers list I have not been getting enough detail from them to make a good precise data base. This will be my goal over the next week to build this list and get more detail. If any of you have suggestion please let me know. I have a spread sheet but I am missing pieces. It was very reassuring to speak with Dawn. I will be calling and asking for her if possible. We got the offer on our flip just after I spoke to her. So I told her she is my good luck charm
Seems like I should have this down pat but I am still learning.
I have a number of ads running But I seem to be only getting tenant buyers calling me. I will work on new ads this week too. I found a great board to post flyers on....in our post office! I have been in tha hundreds of time and haven't ever seen that board before. I am sure everyone near me thought I was crazy!! I just stood there looking at it all dumb founded.
Another thing that happen was that i called on a FSBO sign and now I have 3 property to go see. this was an investor that needs to get out quick, his JOB is a mortgage broker.hummmm. I wonder where this will lead. Anyway good night all and thank you again Lucky charm.

This has been a busy week. Besides a milestone birthday, I found a new buyer. they have a very large amount of money to invests they are mainly intersted on buying cheap and flipping. I can probably help them out. They want to make 30k on each flip. Tight numbers but can be done. We filled one more rental and I have followed up on every phone call.
I called on a FSBO it lead to 3 houses, none are really good deals but maybe a connection maybe a LO, he is a mortgage broker and an investor.
I have 3 other sellers to follow up with all from calls this week.
I haven't made any offers this week. I am focusing on building my buyers list.

Today Dan and I went back to being investors. we went out of town for some much needed rest. We did rest but we (of coarse) did a lot of brain storming...
One of our deals we have in progress we have decided on a little different strategy. This is the deal where we funded two houses with one private lender. So we have one on the market and one which will be finished Friday. Well we are going to sell the first one and with those funds pay off the entire loan leaving us with a 3 bedroom 1 bath house totally renovated free and clear and with approximatily 17k cash back. We will not have recouped all of our. renovation costs for both of the houses but the house will cash flow about 650 a month. We plan to place a tenant in it and then sell it off the market with a tenant in it for 99k,FMV for the house is 120k. Our thought process was the we wouldn't be in such a crunch with the saturated market and at lease we can collect rent while we find a buyer. What do you all think of that idea??
Only 3 days left of the Buyers incentive. I wonder what will happen to the market after Friday..
I returned calls from the weekend. And I'm working on detailing my buyers list. I came across 5 more I buy guy which I will call tomorrow. I got so busy I didn't call Vee, I'm sorry I will call you in the am.

Lost one of the bank deals today. But am will be making offers on 5 REOs tomorrow. The aution is Friday I will be there. We still have 2 units left to rent.
Our OB house closes soon.That will free up some cash.

Onward and upward. I do love this business.

Well, I guess we all have down days and today is mine. I just went through my monthly bills and I don't know how we will keep our heads above water. We have accumilated so much CC debt that I feel like we are sinking. This time of year is especially bad because of taxes and our insurance premiums being due. If our spray paint house would sell it would help greatily but won't resolve all of our issues. I have been working hard to learn to make quick cash but it seems I am not doing something right. Time is running out I am going to have to go back to my JOB. unless I can figure out how to get some quick cash. I know others out there are worse off then me so I shouldn't be whining. BUT GEEZ! I am tired of worrying about money! I wish I could figure this out!

We have another offer on our second flip, Dover, not full price but we will still net 24k. Great for my company!!!!!

I went and looked at 3 properties and will follow up with offers tomorrow. No screaming deals but maybe an assignment and diffentily contacts.
I found another FOR SURE buyer, Well at lease they check out so far. I believe I have 11 true investors buyers now.On the 1-5 scale I have 7 (1S), 6 (2S), AND 4 (3S). The rest are 4 and 5 which I am not going to count. Probably 3-5 could close with cash. Can anyone else shed some light on this??Do I have enough to start being real aggressive?
Tomorrow;
putting up signs
Headed to the auction
writing offers on at lease 3 REOs and 2 FSBOs
then looking at a few houses later

Sleep Well everyone

Happy Mothers Day to all of the Moms out there.

Well it has been a busy week since I last posted. I just started making offers in in the name of an LLC. Any informtion on this process would be greatily appreciated. Most of the offers were on REO, and I have heard back for 2 of them. I am pretty sure we can pick up one of them. Our exit stratigy will be to assign/sell it to another investor or we could buy it ourselves. Here are the numbers.
FMV 135k Sale price 120k
repairs 10k
purchase price 80k
holding/finance/closing 7k
net profit +23k
Or I will sell the LLC for 3k-5k thoughts Ideas?
I put out 8 more signs. And I got 2 calls today
Added another buyer to my list and I am still working the 3 FSBO deals.
I am focusing for the next couple of weeks of getting more organized and more systemized.

Sweet Dreams everyone

REO offers I have a deal I want to make and offer on to a small local bank, I am so nervous! They have told me that they will entertain any offer.
This is 3 houses owed by the same bank from the same forclosure. They are brand new construction and 2 are rented out,which rent for 875/mo. The list price is 160 each, which is too high.
My concern is not making the offer but that my credit fair, my debt to income is terrible. Do I have a chance here?
What I was thinking about offering is 100% financing and 30yr am for all three senarios; 6% interest rate with a purchase price of 180K(60k each) or 4% rate with purchase price of 210K (70k a piece)or 3% rate with a purchase price of 240k (80k each. What do you think??

We are getting down to the last minutes on out first to flips!!, But first, does anyone know why there isn't a star in my little comment balloon??
Flip number one is a house we bought and at first planned to rent, then decide to sell incloses Wednesday, Flip number 2 closes Thursday. I am holding my breath!!!!! I will share details once things a finallized.
Well, I have officailly made my first offer to a small local bank on 3 houses that went back to them(thanks for the advice Joe). Now I will wait and see what happens.
I am also working on a REO deal where I have made my offers in the nam of an LLC, with the intent of selling the LLC to another investor. It isn't a screamer but someone could mae 20k or so.
My big house is not seeing as much activity as I hoped for any ideas out there???
Well, today I will be making 3 more offers.
Good luck to everyone in there RE adventures

Yesterday we closed and funded on our first 2 flips!
Deal #1
4227 Ocean Beach-4 bedroom 2 bath; we purchased for 85k terms were private money at 6% for 12 months. interest only loan, and no money down required.
Deal #2
We sold the same house for 102500.00 This sure is not our best deal but we learned a lot. We held it too long. Fixed it up as a rentalinstead of a flip. At the end of the day we netted around 2500.00
Deal #3
3114 Dover-3 bedroom 1 bath purchase price 55k FMV 140k purchased with private money at 9% interest only for 55k, no money down, 2 pts, gaurneteed 6 months interest.
Deal #4
1015 S 5th-3 bedroom 1 bath purchase price 48k, FMV 130k financed in the same loan and deal #3,we purchased them at the same time.
Deal #5
We rehabbed and sold deal #3 for 120500.00 this paid off our entire loan for both deal #3 and Deal #4,we own deal #4 free and clear, and received a check for 3900.00 We will put house that is free and clear on the market and sell it with a potential net profit of 80k after all rehab rehab costs are deducted. This will occure in the next 45 days or so.
Deal #6
3 bedroom 2 bath NICE house purchase price 136k purchased with private money 9% interest only for 24 months,first lender would only do 120k, sencond lender of 30k, we gave him 1k up front,nothing else. We ever borrowed the 2 k for earnest money. it is now fully rehabbed and on the market
Deal #7
4514 ohio Lease option on Deal #6. they are giving us 30k down. on a 12 month contract. 350.00 positive monthly cash flow, sale price 220k. Potential profit of 45k.

Deal #8
1015 S 6th Lease option one of our rental houses for 5k for 2 years, Sale price 120k
It needed 5 k in repairs to move in.Cash flow or50.00 a month..

I cannot say thank you enouth Dean for giving me the tools and the courage to do this. We are not finacially free yet but we are headed in that direction. Without the shared knowledge in your books, from information on your site, and from guidance from your success team I would not have been able to do this.
Again Thank You!!!!!!!!!!

That was an amazing post. You two are going great guns. Congratulations!I am amazed at what you have been accomplishing here. Thanks for sharing it with us and look forward to hearing more.

Cathy