The Journey to Freedom

I told you it was only a matter of time. Keep doing what your doing and you will have to much success to keep up with. XD
Sorry, I haven't been around much. I did get your message. I have been busy to say the least. I don't want to post about me here but promise to update my journal soon. I need to crack the whip on you, partner. Your slacking..lol jk
Keep doing what your doing.

You know I believe in you. The Edge event is getting closer!! Woohoo!
It is starting to look like you will be retired from your J O B and a full time REI by then. Dream big Cathy and as long as you don't limit yourself you will make it happen.

Scott

Ps. Don't forget to update us on the daughter, Germany, etc.

Today is Saturday, March 13, 2010.
I'm in Rock Falls, IL for a Rotary event for my daughter's foreign exchange program she is doing this next school year-her junior year. It started Fr night and all day today and I think it wraps up at about 1 pm Sun. So not a whole lot of time for REI but this is real important. We may not know until like June what part of Germany she will be going to. It's exciting though and I know I will miss her dearly as she is my only child right now. It's very good there are some inbound students (kids from other countries studying here for a year) and that's been nice to talk with them.

As for an update on REI: there was an REO that dropped in price that I had put offer in (it may have been a short sale the first time I put offer in) but I asked realtor to resubmit the offer on that one and then the house I took a second look at last Wed I offered $38,000 (not quite the half way mark but after running numbers I thought this would be the best offer). I'm not sure if realtor has actually submitted these yet.

Then this duplex that I'm partnering with someone we finally accepted the offer but it's in the partner's name but I may have to finance it from her so have to work on that and we'll put it in a LLC in both our names I think.

I am slow about getting these flyers out and such so I need to advertise for the lease option house. I would like to assign the $38,000 offer if accepted but not sure if good enough for buyer or I may fix and sell, time will tell I guess because the offer may not even be accepted so we'll just have to wait and see.

I haven't had time to contact lawyer even for lease option contract so that's a must on Monday and call cafe about posting flyer.

You are amazing Cathy; keep up the good work.
Cathy

Thanks Kristin for visiting and posting on my journal. I really appreciate the tip about private lenders vs. hard money. When you speak of private lenders are you referring to family/friends or anyone?

Scott-what to say to someone who's always encouraging me and uplifting me. I've missed hearing from you but knew you're traveling and moving and such so knew you would be busy. Thanks for the post. We can all do this. Please know I jsut wanted to make sure you were okay and doing well.

God Bless you All,
Cathy

I mean anyone at all who has some cash to invest, including friends and family. People with cash are afraid of the stock market, CDs and money markets are paying garbage for interest (maybe 2-3% if lucky) and desperately want to earn more on their money. If you can offer them anything more than 6-10%, even if for a short term purchase and then assignment, they'll be happy and maybe come back for more. This may be the way I get started and it is worth a shot.

The hard money lender I spoke with was very nice and helpful, but it was 6 points up front, short term of 6 months with possible extension (for a small fee - of course) and interest at 15%. Ouch! There wasn't enough in the deal to support this financing and I let him know it would not work at this time but could I contact him in the future if I had another deal.

Kristin

Kristin, thanks so much for the help. I just read Matt Larson's new journal where you can ask a question and he kind of explained the same thing only using your own 401k. I just have to get out there and ask. Again thanks for the tip and help. I have people all around me but not sure always how to approach but you just have to ask and get out there and take action.
Thanks again. I love this DG family.
Go Get those Deals Cathy

Hi.
I am excited but yet uneasy because I'm on the edge (no pun intended with the Edge event) of like 3 deals all at the same time. Not sure how everything will work out. On the one that I placed offer of $34,000 and then I did go up to $38,000 after redoing some numbers it will work out but the seller's realtor asked if I would go up to $40,000. I called a mentor in my area that's part of my investor's group and he drove by it plus looked inside as a door was open and he said I should stick with the $38,000 and tell them that's my best and final offer. I haven't called yet about it though; maybe later. Next is the duplex that I'm partnering with someone. And third is the lease option purchase; I have to take contract to lawyer; and I think I finally got it (understanding the lease I mean). Well I guess that's about it for now.

I have to look at more properties and I still don't have website yet; and I have to do more marketing especially for the lease option house.

Have a blessed week.
Go Cathy Go!

Today I heard back from my realtor and the $38000 was accepted as long as their are no contingencies. So I think that will work out. Now I have to figure out what to do with the house (assign or fix/flip it). It would be nice just to assign to have that first one under my belt but we'll see.

So I'm in the waiting to get contracts approved and signatures and such.
Can't wait for the future; this is the year for change for me. My poverty mind is out the door and now I'm ready to welcome the abundant blessings the Lord has in store for me. This is my year for wealth and get out of debt; and FINANCIAL FREEDOM here I come.

I can't wait to share the good news at my REI meeting tonight. My friend in the group is doing great now too and on a roll. The good life of REI!
You Go Girl!
Cathy

It's hard not to mix what's going on in my personal life with my daughter right now and the REI. I went to the investor's meeting tonight and was smiling, happy to report about all that's happened in the last couple of weeks and such; felt great to share my first deal details. Although still have to figure some things out but that's okay.

On another note with regard to home daughter came in to my room to talk about a matter but it was like 10:40 at night and I really didn't want to talk then but she was persistent (why do we lose that when we get older but maybe it's just me that lost it). And I knew it wouldn't turn out pleasant. Now it's 2 am and who knows when I will sleep although my heart is heavy and aches beyond belief.

My JOB has been difficult but will improve after these last couple weeks of March so at least I know it will end.

Cathy just know that this too shall pass. You are loved. You're doing the best you can do.

Cathy

Congratulations on your offer being accepted I'm interesting in hearing what you decide to do with the house.

I'm sorry things are difficult these days but you are right - this too shall pass.

Take care,

Lea
SPR Property Solutions, LLC

Great job getting that first one approved. However you decide to proceed will work out just fine for you.

I can understand your concerns with your daughter since I also have one a few years older at 22. Still difficult at times, but then I always think of the good times and how I am trying to secure her future so she doesn't need to struggle like I have in the past. You will find a way with your strength and faith to succeed, for both of you and she will thank you in the near future.

Kristin

Thank you both for your visits and encouragement. Today she acts like nothing happened but my heart yearns for a different relationship and I know that it will be fine. If I can be full out honest on this site and in this journal- I really didn't even want to be on this earth anymore but I know better to do something stupid so don't go thinking I need more help; it's just you give all you have to this little being you cared for in your womb for 9 months and then they grow up--LOL. But you forget they're not a little child anymore. Ah.

There's a slight delay in getting the papers signed as my realtor called last night and had to go out of state as her dad wasn't well and today she sent text; he passed away last night. She gave me another name that will call me so it will work out.

Just thank you so very much Lea and Kristin. I will have to go update myself on your journals; I just haven't had a lot of time and sleep is something I know nothing about much these days.

Take care and God Bless.

Agenda tomorrow is to go with my niece to some appointments and also to call lawyer for sure to make appointment about lease option contract to sign and such.

Work was better today; finally got some stuff done.

Even though I don't personally know everyone on this site I think of you as my family and wish you the very best of everything.

Cathy

P.S. Happy St. Patrick's Day

Hope you get a good nights rest soon, it will help. I remember reading somewhere that successful people have a balance between work, God and exercise. Remember there are a lot of people here who care and are pulling for you.

Your DG Sister,

Lea
SPR Property Solutions, LLC

Thanks Lea. After I posted my one before this I thought I should have waited; it's the way I was feeling Tues night/early Wed morning. You are so right about that balance and I haven't found that yet. My job keeps me on my feet quite often but I don't really exercise or eat properly. To me everything works together and if you're out of balance in one area it affects many others. In one of Suze Orman's books she even correlated (not scientifically or anything) that debt and overweight went hand in hand. And when people started getting out of debt they also loss some weight. I found that to be interesting and I think true as well.

I know I have a whole family here. I did go and sign the offer contract tonight and another realtor is filling in for my usual one as her dad passed away. Anyway I asked this realtor if she is an investor and she said not yet but is very interested. I told her about our REI group and will send her email and I will also include Dean's website or let her know I will invite her to join here.

Work is better. My daughter and I apologized and for now it's good again. That's one thing about the bad times we seem to dwell on them but they only last a short time. Instead now I try to just remember the fun times. Life is a blessing. I just know that I will be a real estate tycoon and create abundant wealth beyond my imagination. I can't wait to be like a Matt Larson or Rina, Carol, Lea, Laura, Louisa, Joe & Stacey, Chip & Andrea, and I know there are hundreds of others. That only means anyone can do this.

Goal now is that I have 3 properties and one I'm not sure will go towards the 5 but I'm partnering with someone on that one and I was the one that found it and we are putting it into LLC with both our names.

On the path to financial abundant freedom!
3 down 2 to go. I am in a war with Dean to get my money back. I just started a little late but I started and took action. We will just have to wait and see what happens.
Cathy

Haven't been on here in awhile; daughter's been using computer alot for some school work. I read Matt Larson's Challenge and to be honest there's probably far better deserving people than me. Besides I really struggle as it is with everything: spiritual, daughter/family, work (job, REI, housework, etc.) and exercise I really don't know what that is LOL. Although my daughter is leaving late July or by Mid August for Germany which will leave me with more time and hopefully I will explode in REI and stay focused. I really have to start disciplining myself and increase my reading time and such.

As far as REI I did sign the papers for the property at $38,000 and closing is April 30th. I have to get some rent rates in that particular neighborhood and take some pictures hopefully Sun to pass onto some contacts I have. I'm very nervous about another property that will be a sandwich lease and finding a tenant buyer. I know this will get easier but truly is a challenge and I will get past it. I just don't have all the answers yet and I know that's okay; you have to take a leap of faith. It's getting late and so have to go do some reading and dwell on my goals and dream BIG!
You Can DO it!
Love you girlfriend,
Cathy

I was starting to miss my Cathy Journals! Congrats on getting that deal signed for $38,000. Now they'll just get easier from here.

Finding time to fit in everything you are expected to do each day is totally exhausting in itself. Just concentrate on what is truly important for you and your family right now and get to those things first. If exercise is getting passed over, try squeezing it in when you can, or once your daughter goes to Germany you can tweak your schedule a bit to fit it in if you want to. Once you get a rhythm going it will somehow work itself out for you. I found that being a master of creative scheduling is one of my strong points and even though I try to get everything done, many tasks slip. Like housework... But I have better things to do with my time than housework and it will get done eventually!

Kristin

Hang in there and keep up the good work.

I'm just so excited. Finally. The house I got under contract for $38,000 I was able to assign it to another investor for a fee of $1500. There's much more to it than that. My investor's group was a huge factor in this deal and the investor I assigned it too as well. the counter was $40,000 but talked with my good friend and investor, Greg, and he helped me to see that I needed to hold at $38000 plus another investor, Molly agreed, whom I talked to both on the phone. Called my realtor and said I needed to hold at $38,000. If I was by myself I probably would've accepted the $40,000 because to me it didn't seem much more but in reality it was huge. The seller accepted on the fact that there would be no contingencies. I was fine with that.

Next I did have my realtor add and/or assign to agreement. Next contacted a I buy Home ad in craiglist and sent email to another investor in my area. Come to find out this investor had bid on this same house for $38,000 but didn't get it. How ironic is that. It was a great feeling to know I was in the right ballpark with my numbers but I did feel a bit guilty that I got it and he didn't. It just goes to show you sometimes it's just your timing and the seller's motivation. Also I think with 2 offers at the same price probably sent a message to the seller that the house's value wasn't what the seller thought he should get.

I did ask for $3,000 fee but because of repairs and value the investor offered me $1,000 fee and thanks to this site and Dean and all those that have told us you just need to ask; I asked for $1500. He agreed. Yeah! So at closing I will walk out with $1500 and no money out of my pocket. And that's the exact amount of my half for the edge event.

I have to add this; I shared with my daughter the news. Her text was as follows: SHOPPING SPREEEEEEEEEE (she's a teenager).
Now I have to go get some more deals! Lot to do.
You Did it! You Go Girl!
Cathy

I wanted to include this in a seperate entry. Molly is the partner I'm purchasing a duplex with and we are going to do the inspection this week. So that's exciting as well. Can't wait.

The one thing I'm very nervous about is the lease option house. But all things will work out. I didn't really get it at a deep discount but hopefully someone out there will be interested in it.

Love you girl!
Cathy

Just so much to do. Inspection on duplex on Wed morning. Work has picked up and we're starting a new contract on Thurs in the same town I work at now so that will be a challenge. My daughter asked if I could take her and a friend to Chicago Fri and stay the night not sure with work and all. This is the first time I Can't wait to retire from this JOB. If I work hard when she's in Germany and do my very best maybe I can retire and do REI full time and just do OT as PRN work when she's a senior and be around more. Lots of listings were automatically sent to me today so have to go through them and make a game plan to get tenant buyer for lease option house. Also my daughter told me I could live wherever I wanted for the year she's gone but I have to make sure I'm back here for her senior year. Hmmm where would I like to live for a year? Probably stay put to be honest, haha. Can't wait for REI meeting to tell them news about the assignment deal.

Just Do It! ACTION! ACTION! ACTION!
Cathy

That $1500 is going to feel like a million bucks in your hot little hand! Great job and keep up the good work. My daughter would have already spent that money too.

Kristin

Thank you so very much for your support and visiting my journal. I need to catch up on yours and some of the others; I really haven't been on here too much lately. Again thank you for everything.
You Go Kristin and make some deals!
Cathy

I feel like I know so many people on here, but can't wait to meet you in person. Am booked for the EDGE and already have my flight too. Just got to get the room paid for. That's where an assignment or two would certainly help.

Look out deals, here I come!

Kristin

I need to get some RE things done tonight for sure. Last night Took a walk because stress was overwhelming me between work and my daughter blaming me for missing notecards for her research paper. I just needed to release the tension and walking truly is the best medicine for that. Then I was able to help daughter to no avail. But this am a handwritten note outside my door on floor for an apology to me as daughter found her notecards on her dresser. I'm just glad she found them. Anyway didn't get much done in RE. But when I walked I found some empty houses. One found out from some children outside that the house was broken into along with another house right down the road from me (and I haven't always locked my house up during the day). The house near the kids was a rental home but now they are going to sell; not on market yet so I should prepare and send a letter. Next I found another foreclosure but not on market, it still had listed the owners even though unoccupied. Came home tonight to find that some auction signs were posted so drove by that house and looked it up on the county assessor's page and lo and behold it's owned by a bank. Auction isn't until end of month so maybe I will use Stacey and Joe's approach and contact this bank to find out more; maybe they'd be willing to sell prior to auction. Anyway so not too bad. I really need to make calls to FSBO homes. I did do some drive by's in the afternoon yesterday but not the best neighborhoods. At least I'm doing something.

Oh I went to home inspection after work last night and one this am. Didn't realize how long they take and we had a foundation check today on the duplex as well as the house inspection. Definitely worth the foundation check; requires some steel beems for better support. Well after I typed all this in I guess I did do quite a bit of RE yesterday. This journal really helps for you to see all that you're doing as long as you don't forget to put it in here, LOL.

Just Keep At It!
Just Do It!
Cathy

You did get a lot done.

We often live in our own little isolated world and don't realize the opportunities are truly out there. Just by chatting with a man and helping him out, my boyfriend and I have been given permission to try and sell a home for this gentleman and anything over his asking price of $269K is ours for the work. We also heard from a friend of a friend (this is where talking to everyone really helps) and he is trying to sell a multi-family in a nearby city to make funds available for himself for a project on his own home.

People need and use real estate every day and by paying attention and tuning IN, we can see the chances to make money and help folks all at the same time. Gotta love it!

Kristin

Thanks for all of your support. I see you are doing great things as well. Keep it up!
Cathy

I didn't realize the date is automatically posted. Oh well! Here goes a to do list for me tomorrow hopefully I will have time. Might have to drive quite a bit tomorrow and have long day at work so this list will be ongoing.

Calls: Mortgage loan officer, lawyer to make appt, seller to have home inspection on lease option house, home inspector, academy (I always feel foolish calling though so I don't use them like I should), I'd like to follow up with a couple that have some rentals and may retire or sell some of their properties as they become vacant, newspaper to place an ad on Sun, call a nearby FSBO house, bank about a REO that's going to auction end of month

To Do: modify/change craiglist ad for lease to own house, continue to make flyers, I just got Dean's book, Totally Fulfilled, from library and can't wait to start reading it, review some more REO properties

Like I tell others just do something, one baby step at a time. I do need to practice making calls and talking to people on the phone. I can do this and will do this.
Love you Cathy

Well didn't get everything on the list done. I did call seller and she has a name for possible renter but I will see. Changed craiglist ad for lease option. I still have to call lawyer and home inspector for lease option house. Send investor email regarding the assignment house to make sure it's still good to go after home inspection. Rewatched the assignment contract from the academy. On here reading other's journals; it's really neat to see all the successes; just keeps you motivated that it's possible.
Love you Cathy
Go For it!

Just looked at 7 properties. I was shocked to find such nice REO and HUD homes. It was lots of fun. Just have to do my numbers tonight and get moving forward. The assignment deal has been interesting to say the least; didn't realize the minor details involved. I have to go for now. You are doing Great and I love you, Cathy

You know as you look at these properties you never know what else you might find. But as we left 1 REO I saw next door that the house looked vacant and so I went and took a look in window and sure enough it's empty and had really nice hardwood floors in LR. I looked on the tax assessor's page and found it's owned by a bank. I will contact on Mon. Even the one next door is bank owned and had the name of the co. posted in kitchen I think. Can't wait to check on both of these homes; they looked nice and for the right price who knows what can happen.

Also I viewed the 2 empowering DVDs I received with Chad and Bill. Very good and I already watched Chad's twice. Keeps me motivated to know this does work and for anyone that has the desire and passion.

Interesting thing happened with our duplex deal that I'm partnering with Molly. It did have some roofing and foundation issues so we went back to the seller (REO) to renegotiate the price. We asked for $5,000 off the price we originally accepted. At first they went only half way but we decided it was worth asking the additional $2500 off and they accepted. So that's exciting. I am learning ask, ask, and, ask. Don't cut yourself short.

The assignment is coming along as far as I know; many minor things had to be worked out and I called the academy a few times about it. The realtor I'm using doesn't know alot about assignments and I knew a little but not all of it so we're learning as we go I guess.

My day JOB has been a bit crazy. I'm a program director for therapy dept (small dept) and switched to a new building that our Co. just started contract with on April 1 so that's been a new challenge is what Dean likes to call change and I'm working on that. Well I had a lot to get off my mind tonight.

On top of that I'm to help my daughter to do research paper on Germany no less than 12 pages long and half is due by an event on May 1. So lots to due just have to schedule it out I guess. Whooo! I can do it. I can do all things through Christ who strengthens me. Phil 4:13
Go Cathy Go!

Well. Interesting today. The house I was going to buy on lease (sandwich lease) caught on fire. I just paid 1/2 of what I was going to pay the owner and I did receive that back today. I got the call as I was driving home looking at a house on outskirts of town. So no deal there. I did tell the owner that I'd be willing to help her sell it after it's repaired and such. She did have it insured but current tenant was in between insurances as she was buying a house and closing this week.

Also in my assignment deal if you look back at post 107 I didn't mention the investor that I'm assigning it to but I should because he's well known on this site and he's helped many on this site so here goes:

A SHOUT OUT to MATT LARSON (cbrpower)!
Thanks for helping me.
Cathy