Jack and Michelle, New to the Game GET SOME!!

We try to make sure we take care of the vets, we both have a commitment to be helping others. Yeah things are going, of course we wish faster but as long as we are moving forward and making things happen we are going in the right direction. One of these days we'll be down in MB and we'll get together! MERRY CHRISTMAS TO YOU TO!

Life has been wide open, some of you know my daughter got in a bad wreck a couple weeks ago and now we have my grandson living with us for a few months while she goes through rehab and gets back on her feet. So I guess you could say I have a new foreman, at 3 1/2 years old, he pretty much lets me know how I will be planning my days right now. HA HA I am loving the time with Ki and hope my daughter Keisha is well soon.

Our flip is done and we have had steady showings the past week. Got a call from my realtor this morning about a verbal offer, we countered with a little change, so we should have a written offer later on today. We hit the sale price but we were over on the rehab so the profit will be less then we had hoped for. But profit and learning is a good thing. We partnered up with Michelle's ROTH IRA on this and our cash, so now we know how all that works. Closing should be March 13th on it!

The live/work townhome has been a story and a half, the day we purchased it we went by it and noticed the trim was wet, we were told they fixed a leak from outside. Well they didn't, not only that, we had the worse type of mold in the walls. So the GC that was doing the rehab, who is also certified to do mold remediation took care of tearing stuff out and the HOA's GC ripped up concrete in front of the townhome and found where the water was leaking in through the foundation. This after weeks of him trying to caulk all over to fix it. Now we are waiting for a big rain to make sure its good before we seal it up and rent it out. Hope the snow tonight is enough to test it out. We have several folks interested in it for rent but no one has signed the paperwork yet. Fingers crossed we'll have both the top and bottom rented out soon.

Buyers for our land backed out so we are back marketing it and hope to get it sold soon.

Looking for the next rehab!

I did not know about your daughter. Prayers going out for her quick recovery and thanks that she will be OK.

Grandchildren are such fun! I have three with one on the way Feb 25th!

You need to change the title to your thread. You are not new to the game anymore!! Although we all learn something new everyday, you are a pretty experienced investor!

Congratulations on all you two have done(I know Michelle is the boss!)and hope to see you at the EDGE.

Michael

Yeah Keisha got in a bad wreck, black ice into trees in NY State. She was pinned in her car for over 45 minutes with her arm stuck out through the window with skin pulled off and bleeding out, lower left leg crushed with compound breaks, car crushed around her like a cocoon, and she was awake the whole time. They had to cut trees away before they could use the jaws of life to get her out. They told us they didn't know if they could save her leg, luckily her surgeon was a combat doctor from Iraq and Afganistan and had seen injuries like hers and was able to save the leg. The police officer that was first on seen told Keisha's mom that he was sure she didn't make it due to the injuries on her left side, blood loss and being trapped without help for 45+ minutes. I flew up there and made sure all was stable and then decided that I needed to get my 3 1/2 year old grandson away and in a stable environment while Keisha goes through her rehab. Her mother is up there to help her with all that. She has a few issues and may need more surgery so any thoughts and prayers are appreciated! THANKS

I hope that your daughter is recovering okay....have sent many prayers her way!!

I know you're enjoying time with the grandson! I keep (help the wife) our "adopted" grandson who is 4-1/2 now. We have kept him since he was about 6 mos old, and are very close! One thing for sure; he rules the roost!!

Good luck with the sale of your rehab and getting the rental leased. I know it will come through for you two soon!

Today is a good day, sold our latest rehab today and waiting on word that its been recorded and we can go pick up the check. We partnered with Michelle's IRA on this one so half goes to the business and half goes to her retirement IRA. Not as big of a profit as we'd like but whenever you can make around $20k in 3.5 months, its a good deal! Still trying to sell the land we have, pretty confident we will be able to sell and score big on it this Spring with the weather warming up. Several folks interested in the townhome, some for just the upstairs, some for just the downstairs, and one interested in renting both. We need to get these rented asap, I do not like making payments!

Michelle and I were asked by the President of our REIA if we would take over a subgroup in our area and tonight is the first meeting. We are fired up, we have one of the top investors/hml coming to speak to the group.

We are also working a monster(wholesale/double closing) deal from an absentee owner letter sent out last year. This will be our first wholesale deal and it involves 8 townhomes(4 duplexes) All 8 units are rented. We may try to keep 2-4 of the units for us if we can work that out. Michael M, I may call you for some consulting on this one, We'll work out your fee in it!

Sounds like things are rolling right along for you. Have been watching updates on Keisha and the new mini boss on FB. He is certainly a cutie pie! Still praying for Keisha.

Are you guys going to be at The Edge?

Karen

The plan is to still be there but it might just be me or we may bring my grandson and then tag team between sessions so Michelle and I both get something from it. We'll see how it goes as we get closer. Keisha has another surgery in 5 weeks to take the hardware out of her leg, then she starts rahab so we are not sure how long my grandson will be with us.

Wow, its been a long time since I have updated my posts. Keisha is doing great, Ki is back with her down in Alabama and Mama and I are looking for more deals. Since the end of Feb we have loaned out on another flip to a local investor, rented the top and bottom of the live/work townhome and are seeing decent cash flow there. We subdivided our 2.5 acre lot into (2) 1.25 acre lots and sold one last month, and have the other under contract to close in 2 weeks. The land deal will be the best % profit so far I would say. We purchased it for $20k and with closings and subdividing we have another $4k into it, we sold the first lot for $25k and the one under contract is $28,500. We also have 8 townhomes/4 duplexes under contract that we are hoping to wholesale. We have a letter of intent from a big buyer and we sent them the purchase agreements yesterday, so hopefully everything will go goo with those. Sent out some absentee letters last week and have gotten 6+ calls in the past couple of days that we need to research on, so life is going, never as fast as we want, but like another post I saw on her, as long as we don't stop.

Finally got the lot sold. We bought 2.5 acres for $20k in May of last year, 2013(got the deal from a wholesaler). We spent about $2k to subdivide it and stake it out. We spent $250 to get it on the MLS and a couple dollars for bandit signs and For Sale by Owner sign to have around the neighborhood. We walked the property a few times with potential buyers, so we had about 4 hours in the deal, $2k for the surveyor, $260 for signs and the mls listing. We sold one lot for $25k about 2 months ago and sold the other lot this morning for $28,500. Yes it took longer then we wanted by we more then doubled our money in around 14 months for doing next to nothing. We plan on taking some of that profit to pay for a part time assistant to start handling marketing and setting up deals like Dean and Matt talked about on Wed evening, plus we also bought the program Wed evening so we'd have Matt's videos to train the assistant. Love this stuff! We are told by our JV partner that we should have earnest money and signed purchase agreements on the 8 townhomes, so hopefully we'll be able to get that deal closed by the end of the month. GET SOME!

You go boy! You two are rocking it, I had never read your journal at least not recently & i love it. Soo glad to hear your daughter is well thank God, He kept her alive & well! So amazing to hear of your deals, even though you have had had heartache & struggle you are pushing through I love it. I want to get the prog too if it is still available just working out budget issues right now, but working on my end too to get deals & should have one too, just got some leads in from KC & San Diego from a buyer of mine & a wholesaler. God bless.

Little by little we're getting this aren't we? I do believe the deal they offered the other night is golden if you can get the videos still. Dean said they were good for the first 50 folks, so I'm not sure. We thought they would make it so much easier to train an assistant and could really jump our business. We'll see. Keep going bro, work those leads!

HA HA its been a while since I've written an update, we haven't done much since the last update but we keep moving forward. We have done a couple more loans with our IRA's. We are getting 3 points and 13%, we have one still out there and looking at a couple deals now to loan on, possibly be a partner instead of just a lender, which would be sweet, it would be more money. We are in the middle of our next rehab, it is a major rehab, we bought a townhome that some hoarders lived in. It took 4 people, 5 days, and 5, 40 yard dumpsters to clean out. A major part of the sheetrock was cut out, all flooring, bathrooms, kitchen, and the subfloors in the bathrooms. They had pets that we don't think they ever took out, so the pets used the bedrooms for bathrooms also and the subfloors were soaked through. We are 1-2 weeks from it being completed, its the first time with this new contractor and we have had a few issues but its been ok for the most part. We'll post the numbers for that once its done and sold.

We have a contract on our first wholesale deal where we should make $12k.

We have our next buy and hold under contract, supposed to close in 2 weeks, it was an estate sale and we had been watching the property but didn't want to hurt the family bad with our offer. They called out realtor multiple times to get us to make our offer, so after months they called her again on Wed and asked us to put it in, they want the property gone, so we hit them with our offer, they countered at $2k more, no brainer, so will close in 2 weeks now. With purchase and some repairs we'll be in for about $50k and rents should be $700-725.

But now here is the latest, and craziest thing to happen. It all blew up this past Tues. We own a commercial property, its a live/work townhome and a salon was renting the bottom and a couple is renting the top 2 bed/2.5 bath. We have the electric in our name since there is one electric box for both units, then we send the bill to them and they each pay half. Well, we haven't received the electric from the salon since Dec, no rent Feb and Mar and she has not returned calls, texts, emails, certified letters from us or our lawyers so we were starting the eviction process. We kept driving by the place thinking maybe she was just planning on moving out and hosing us over and since her lease was up Mar 20th, we were hoping it would happen any day.
We drove by Sun after church and there was a new sign up for the business so we thought no one was moving and now we would definitely have to follow through with the eviction. Michelle talked to the lawyers Mon and then again on Tues and we had a suspicion that someone maybe squatting in there now with an illegal sublease. Michelle headed over there Tues evening and walked in and asked for our contact, the lady in there said she wasn't around anymore, she left months ago and asked if she could help, Michelle said no and left and called me. I was getting off work so I drove over there and Michelle called the police. Then the police, Michelle and I got together with this person in the shop and all talked. They had been sending the original lady the rent money and thought she was sending it to us so she was shocked when we told her we haven't received any money and we had no contract with her and there was no legal sublease for her. She was upset and crying thinking we were going to kick her out but she was just a victim of this lady also and wanted to stay, so we worked out a deal with her and she will be signing a lease tomorrow with us. The police said what the first lady did was fraud and they put a warrant out for her and her partner and they would work on getting the new lady her money back but that we were going to have to go to court for our part. We got home that night thanking God for this, yes we were going to lose some money but we had a new tenant just like that, and we wouldn't have to spend money on an eviction, getting the place back to where it was before all the mirrors and new lights, and crazy salon paint, and also waiting on a new tenant now. The new salon folks were already in there and loved the paint and how it was set up. Within 30 minutes of getting home the first tenant that hosed us sent us an email and said she wanted to square things away with us, someone must of tipped her off that we called the cops. We sent her an email with what she owed us and Michelle talked to her in the morning and they deposited our money in our account that day. So now we are made whole in what she owed and we have our next tenant already running her business and paying.

Enough writing, I hope all that made sense. Can't wait to be at The Edge this year!

Our rehab is still going, its taking longer due to the new contractor not being organized. On top of that, his mother died, and we had a few snow day, so we are trying to be ok with where we are right now. We are hoping everything except the shower door should be done this Fri and we'll be able to get it listed. Have a possible buyer already, they went in and checked it out a week ago and we worked a deal with their realtor that if he has a contract before we list it with a realtor then we'll give him 4% commission.

We purchased our next rental last Tues, had new electrical run, new plumbing going in tomorrow, and then hope to get a few other things done in the next week and get a renter in there. We have a possible buyer for it that would put at least $10k in our pocket but then we wouldn't have it as a buy and hold, so we are going back and forth on that one.

The buyer for the wholesale deal with the townhomes fell through but we have another new buyer that Michelle is meeting out there tomorrow, if it goes through, we are looking at $15k wholesale fee.

Fired up about THE EDGE coming up, can't wait to see everyone again!

that is awesome & yes it did make sense brother(my sparring partner:) & I love to hear great happy endings like that so nice. yea the lady must have gotten tipped off.

Oh man it is so amazing to get those wholesale fees boy. the largest I have gotten is 5k & man when it comes thru it is sweet, i hope you do get that 15k wholesale fee bc you w/be ecstatic w/you get it right.

I am fired up too about the edge cant wait either i want it to be tomorrow.

I am new to the game same as you were a few years ago. I am beginning to execute the 30 day fast cash book. The book was authored 4 years ago, and although the concepts are the same, technology has changed considerably since then.

I am certain there are more efficient ways to build some of these buckets.

I am in the Matthews, NC area and would love to talk with you. Please email me at Dan.Diener@**** or [email protected]

God Bless You

Dan

Hey Dan, I just sent you an email, glad to see someone close by. If you are looking to execute Dean's 30 Days, it will work! We are not a great example of following Dean and all the successful folks out here, to much procrastination and laziness, but we do get things done. Shoot me an email with any questions and we'll get hooked up soon, you can come check out 2 projects we have going on right now. Read that book, and Dean's others, be on this page everyday asking questions, and you'll be on your way in no time!

I can't wait for that first wholesale check to come through. The rehab checks, rent checks, and loan checks are nice, but to get the wholesale checks without all the money out will be a good feeling. Looking forward to getting some hang time in Arizona!

Fired up about The Edge coming up, we need this so bad, to be around people that have the same dreams and goals.

Good things have been going on, we have a new buyer for the wholesale deal on the 8 townhomes and its supposed to close this coming Wed, $16k profit to be split with my mentor here in Charlotte. He has already told me he doesn't want any of it but we will be writing him the check anyway, he got us the buyer and made this deal happen.

Our rehab is done except that they need to swap out one of the kitchen cabinets, check a leak in the master vanity, and replace the faucet in the kitchen but we had to put the contractor on hold because we put the house on the MLS and its blowing up. We got an email from our realtor tonight saying we have 2 strong possible buyers and she thinks we'll be in a multiple offer situation maybe by the end of this weekend! Hold smokes that would be flat out incredible.

The rental is coming along, Mama Knucks spent way more time babysitting the rehab since the contractor wasn't worth a crap, so we didn't get another contractor in there to do some of the other work until this week. Hoping he'll be done next week and then a paint job and it will be rent ready. We learned a big lesson, banks won't refi a rental right after you buy it if the amount is less then $30k. We paid $38k for the house but will have $10-12K into the repairs but they only refi for 75% of the purchase price(since its our 5th mortgage), which is only $28,500, so now we are out our cash until we hit 6 months, then we can refi for the arv. We will be checking with a few other banks in the area to see what they can do beforehand but these guys have been the easiest to work with up until now.

It looks like we have a short sale that we put in for a couple months back to flip coming up. The bank asked us to resubmit the offer with new dates since those are past and asked for more info, so we'll see where that one goes. Also looking at a couple other possible deals.

Life is good, and Mama and I are ready for Arizona!