From This Day Forward-Kareng's Journal

Thank you for posting your 2 ad's. I like the 5% down because that helps you to screen out the tire kickers. I love your posts and thank you for your positive comments and encouragement to all the DGer's.

Best Wishes!

LOLOLOL!!!! Yeah, like THAT'S gonna happen!!!!!

Karen

Thanks so coming to visit! Always nice to have some new friends.

That's what I thought about the 5% notation also. They don't just expect to show up empty handed.

I'm glad I finally was able to share a little more than "atta boys/girls"! (Even though they are important, too.)

Karen

Hi Karen I stop but nobody home for three days

You are so funny! At first I didn't "get" your comment, but then I laughed out loud!

I needed the laugh, for some reason I have been in a funk... Gotta get over it.

Karen

Today I contacted the closest Keller-Williams. I explained I was an investor and asked if I could be referred to an agent who worked with investors. She connected me with a nice guy who has been an agent since '88 and even teaches REI at UCLA.

When I explained what I wanted to do (wholesaling and lease options) he said he didn't think that was something that would work for what he did. But that he would send an email blast to the 130 other agents in his office to see if anyone would be interested. I'm not holding my breath.

I went to Homegain.com and did an agent search sending out Matt's letter and I got back seven responses. Of those, four were very open to working with investors, so I am going to contact them and talk with them further-see if they walk the talk.

I researched escrow companies and found the one that got the best reviews-of course, I know they can write them themselves-but when I called them asking about doing lease options they were not very receptive. She did give me the name of a real estate atty that they work with.

I am wondering if I am going about this wrong. Should I be telling them (agents and escrow) up front that I want to do L/O? I know that everyone ays you have to go through a lot of people to get the right ones. Just want to make sure I am asking the right questions or saying the right things.

I would appreciate feedback on this.

Thanks!
Karen

Hi Karen I see you made it home. Thank You for visiting my website and your comments.

in IN most REA's don't have a clue what a L/O is. despite being an REA myself, right now i'm focusing on FSBO's because of that reluctance. i thought once i get a few deals under my belt, then i have more credibility. in CA you might not have many FSBO's; i don't know. every agent i have talked to here is petrified of a L/O, even though they are very similar to a land contract and they are very familiar with those. i think part of it is that they don't think they will get their commission. well, a L/O is not a sale, but you could tell them that you will give them a dollar amount or percentage of the option consideration up front, then they will get the rest of it at closing. it is the seller's responsibility to pay the commission, so if you pay part of it up front, that needs to be credited to you at closing if you are doing a sandwich L/O. i may be not making much sense trying to type this up. i will try to give you a call tomorrow sometime. i'll also send you a PM with a recommendation. talk soon.

Your website is beautiful! I loved looking at the work you and yours have done! You are a talented man.

Karen

I really enjoyed our talk yesterday. It is so much fun talking RE with other people who share the passion!

Hope you all are able to make it safely down to Fort Knox before Jared ships out.

Take care!

Karen

I have been researching RE attys here and also researching different sources for NOD lists, how they are laid out and best pricing.

Have to have a land line installed here. I haven't had one for a few years, just using my cell, but I want to be able to use my fax machine and headset for all the calling I need to start doing.

Going to repost my CL ads. Usually get a couple of good leads on those each posting.

Karen

I think you should definitely be up front about it. I am a Realtor (part-time now) but I would want to be told you intentions from the get go. Your main priority is going to get the homeowner down for it and let them tell the Realtor that they want to do it. The Realtor works FOR the Seller so if they want to do it, there's nothing they can really do about it.

What you may want to do is still offer them a commission (perhaps 5% or 4%) when you actually do sell the property, that may be a year from now, but shoot it may take them that long to sell the dang thing the way the real estate market is right now.

Another option is offering her to manage the property for 10% (hopefully you are still cashflowing) and then maybe only 3% on the sale. That way the Realtor is getting paid monthly but if the toilet breaks or what not, they tenant is calling them not you.

Just a few suggestions, remember, Realtors are not your enemy and in fact can be your best ally in investing. They can tell you a lot about a property that would take you a long time to find on your own.

Jonathan G.
Vintage Ventures

Great job continiuing to TAKE ACTION Karen. I am a agent in Ga. and I would want to know up front. Once you tell a agent you want to do a L/O some will and some will probably say they prefer or do not really want to work with L/O buyers. As Linda said agent do not get paid until the deal closes. However, I have writen a few lease purchase contracts were 1/2 the deposit money was split by the 2 agents and that helps a little.

You what, perhaps find a new agent or even better a older part time agent and partner up with them. Tell them this is what we are going to do together and make a team with them. That will work when you find the right agent for you.

Also, you WOWED me thank you so much for taking the time to post to info. in my journal. I truely appreciate your kindness, time and your Quotes .

Continue to TAKE ACTION!

Best Wishes!

Good morning Karen

It looks like you have been very busy,thats great keep moving forward.

Thanks very much for visiting my journal and offering some input. I appreciate your suggestions.

Good luck and welcome back anytime.

Karen

Thanks for stopping by.

You are very welcome for the links and my quote offering.

You always motivate me when I read your journal. Good luck and keep up the good work.

Karen

You know, too, that you are always welcome here.

You even have your own chair.

By the way, do you have a journal? If so, I certainly don't want to be neglecting it.

Karen

I started my ridiculous odyssey of getting a land line installed at home yesterday! I have high speed internet thru AT&T so I figured "Easy, just call them and have them add my land line". WRONG! Or at least the easy part....

The first moron was very nice but told me they would have to disconnect my internet for seven days before they could install the land line/internet bundle! WHAT!?!? Not happening! I calmly explained I cannot be w/o my computer for that long, I will have withdrawal. He wasn't buying it.

"Look, I work on my computer. I can't not work for that long."

"Sorry ma'am. That is the only way we can do it."

"Ridiculous! Ridiculous! Ridiculous! If you were ordering a phone installed and they said OK, but in order for us to do that you must take off work for a week, would you agree?" I am not sounding as patient.

"Let me connect you to the office that sets up business lines..."

While I am on "perpetual" hold, I am cking the difference in pricing on my internet line (that he did not disconnect yet) and, as I thought, the biz line is much more expensive. Hang up...

Call back to get someone smarter. "Yes, no problem, we can do that."

"You don't have to disconnect my internet or anything, right?"

"No" Quotes me higher price.

"I was previously quoted$--"

"That's only for new customers"

"SO I am penalized for having been a loyal customer for five years and deciding to add additional services?"

"Well, I guess so." (sigh) Puhleeeze! This is not happening! We finally "agree" that I am paying the lower price, go thru all the info exchange and when we should be all finished, she says "Oh, you are in a fiber optic area. A different department has to do that. I will transfer you and you will have to start over." I sat on hold for 10 minutes and hung up....

Today, I decided to try again. My irritation has subsided some.

When "Heather" answers I am very nice but taking control.

"Heather, I want the bundle w/internet and land line, unltd calling, local and long distance, that costs $49.95 and I am in a fiber optic area so if you are not the one to help me, pls connect me to that dept. And by the way, I cannot have my internet disconnected for any longer than five minutes to do this."

DONE!!!! I am a happy girl!

Karen do not let anyone sit in my chair,and where ever I lay my hat is my home.

Karen,

Couldn't help but laugh at your story (not at your expense though). Sorry you had to go through those "trials". I had a similar situation with Charter. Isn't it amazing that this day and age; with all the technological advances, that it can still take you two days to get a phone order completed!! Having a job as any kind of CSR must really be a miserable thing...don't think I could do it.

By the way, your optimistic attitude is very infectious and enlightening. I really enjoy reading your journal and other posts.

I have ordered some of that yellow police tape to wrap around your chair to keep it on reserve.

Thank you so much for reading my journal! I actually think the experience is funny now, too! Even though at the time, I was not amused!

I am a firm believer in the Law of Attraction and have cultivated the positive attitude in myself and my children (now grown). Every time they would complain to me about something while growing up, I would say things like, "Yes, that teacher may seem tough now, but later in your life you will probably realize that you learned more from them than any other." or "Yes, you have to work and your friends don't but you will grow up and be so much more responsible and appreciative."

The youngest had a new boyfriend (she was 16) and after awhile he told her, "You are the most positive person I have ever known! It's great!"

She rolled her eyes and in a disgusted tone said, "Its because of my mother!"

I thought it was hysterically funny and told her it is the best gift I could have ever given her.

Karen

PS I have also been trained as a Motivational Speaker and am one of only about 600 people in the world certified as a Dream Coach®, which helps people reconnect to their life's dreams (desires) and life purpose and develop a plan for getting there.

being positive really does work. my son said to me last year that he never plans to fail, never has a plan B. he believes what he wants will come to pass and he totally expects it; and it does happen for him. i love how teenagers react to being positive. years ago my middle daughter was very irresponsible and God told me to start telling she is responsible. she yelled at me that wouldn't work. it took 4 years (her last year of high school) but now she is one of the most responsible people i know. don't you just love it???

I talked to Ranger16 (Brian) for over an hour and a half tonight! I love talking to other REIs! It is SOOO motivating!!!

Brian has been so busy doing his CA L/Os! He has done at least 30 since he began in June and has several others in the works! Also working on a big assignment deal! Amazing! He is very excited and so am I! I hope he doesn't mind that I am bragging on him, but he hasn't posted in quite awhile and I know we all get excited over everyone else's successes.

I have 11 potential L/O buyers on my list right now with anywhere from $5K-$60K to put down on a property. Next step-locate properties. Got some tips from Brian and I am even readier than I was!

Karen

Yes, I DO love the positive thinking! It flat out works!

It's like that quote from Henry Ford, "Whether you think you can or think you can't, you're right!"

Karen

Karen

That sounds great,I am very glad you are making head way.At that rate you will be passing the pack before you know it Keep Up The Good Work.

Now on another note!! looks like someone has been sitting in my chair,and WOULD LOOK AT THAT THEY THREW MY HAT ON THE FLOOR!!!!

I"m outta here

WOW....lots of flyers. That is one thing I have not been so good at! Try posting them on a bulletin board in a store, laundromat...etc. Put up the one with the tear off phone # at the bottom. Make sure you tear one off before you put it up.

Bandit signs work great too...another thing that I have not been great at doing all the time.

Great journal...keep it up!

Karen You are doing great, I see you got your hallo to go with those wings.

Hi Karen . Yes that is the proper thing to do , is to tell them be honest . But be prudent about the timing . If you don't you might make them upset enough that they will not work with you on anything . Found out the hard way .