MBEHRENS Investing Journal

Matthew, you have strapped on the after burner. Im totally impressed with your journal and thankful for you sharing the infor with us, and I wish you the very best. You are very inspiritional and show us what can and will be accomplished if we make the decision to do it. My question is how do you trac all of these projects, or should I have said how does Cherise do it. Lol Go get Mighty Matt.

Steve

I know you said it was a FSBO - was it listed in the paper or did the lead come from a bandit sign or ?

Thank you very much for your kind words! I just have an excel spreadsheet I use to keep track of the addresses and or MLS numbers of properties I have seen. It is true, I hope I can become living testiment to what can happen when you get out there and DO IT!!

The 17 unit was FSBO, I actually am putting in a contract on it today! I will tell you where I found it once it is locked up =) Current value is 280k based on NOI and nearly 500k on assessed value from November...

I just met with my partner and we have all the funding for the project lined out!

BIG MOVES brother! I am yet once again blasted away from the progress you have made and what you have in the works! You are doing well and I hope the best for you Cherise and Kaileen. (I hope I got the spelling right on that!) You are going far with what you have and you WILL succeed no matter what!! Keep it up man.....keep it up!!

Best of luck to you Matt -- you have a solid game plan in place and continue to tweak it until you succeed. ( Which you are already successful ! )

Here's wishing you a prosperous 2011 !

Randy S.
Elkton Maryland

Your spelling was correct on both names and Randy thanks for your comments and encouragment!

Ready for the good news? Oh yeah btw this is my entry for 2/7/11...

I am BLOWN away how God works in our lives and has totally blessed my family!!!!!

Well this apartment complex I have been talking about is taking shape, I have secured financing for the property with NO MONEY OUT OF POCKET and also found out that the assessed value on the enitre thing is over 500k. I plan on trying to wholesale it and see if i can get any bites as I don't know if I am ready for the landlord bit but if I don't get takers then oh well, several hundred thousand in equity and 3000+ per month in cash flow I think I will make out fine. I am driving to Nebraska on Weds to sign contracts and do my physical DD on the property and I also have my GC who is coming along with!

Second bit of news today is a partner of mine and I put in an offer on a townhome with an ARV of 95-100k and needs about 20-23k worth of work. We picked up the property for less than 40k and that was just accepted and we found financing for it! There are two other REO units in the building and we are going to see what we can do there but we are shooting to get all three hopefully and single handedly raise prices in that area. The building is just a single building with 6 units in it and is not part of a complex!

I also just got 5 counter offers on various properties that I offered on from last week today and have yet to look at them due to how much I have going on today (boy is that a great feeling!)

Can't wait to see what the rest of this week brings but honestly my goal is to get 5 deals in the works or closed by this month...

Going up to Neb to sheck out the complex in the morning, due to weather she cancelled everyone that was supposed to see it tomorrow so we will be the first and hopefully the last... I have contracts in hand for her to sign. Again, I have secured the financing to keep it and I have almost 10 buyers interested in taking it for 180k which would net me $70,000 in the next two weeks!!!

Now for the second property in Lakewood...

We have sent out the 14 page prospectus to some lenders and should have the financing ready to go for the property hopefully tomorrow. We have a counter from the bank at 40% ARV so we will be sitting with about 35k in profit on this one. I had my GC go in today to give us a bid and all looks good! It should take 40-45 days for full completion and I already have a bank lined out for the refi so we can turn it into a rental!

I am blown away, dare I speak too soon, that I could make $85,000 in CASH in two deals within the next 45 days!!!

I have countered 5 offers today on REO's so we will see what comes of those as well!

GUYS GO OUT AND TAKE ACTION!!! THIS REALLY WORKS!!!

2/9/10 was an amazing day! I got the 17 unit locked up UC with absolutely NO MONEY DOWN!! Took the 10 hour round trip to Nebraska and got it locked up. The numbers look amazing and this is a deal of a lifetime which I am going to wholesale...

While driving back I found out that we also got a verbal yes from the bank for financing to do a rehab on a townhome and then will refi and bring in a tenant. That will be a 30-40k deal plus monthly cashflow of $250-$400 a month!

I can't believe the amount of relationships I have built and the amazing contacts I have begun to accumulate!

GO TAKE ACTION!!

Congratulations Matt good job keep it up.

Well the rehab deal fell through because our deposit came in literally two minutes after another investors but if he can't close in the next 4 days we get it back. I view this as an opportunity to find an even better deal!

GREAT NEWS: I am coming very close to finding a buyer for the 18 unit building in Nebraska. I already have 3 people willing to put up 5k in EM by Monday and have put together an entire package for the buyers including going as far as finding a GC that will do the work and a property manager to get the thing re organized! I won't say anything until it goes down but I think I will have a buyer by the end of the weekend!!

More meetings today, another set on Monday with a Private Money person. I am going to take a much needed day on Sat for some administrative work with my business and take Sunday off with the family...

Good job

You must be a young guy with alot of energy and a lot of motivation. Keep up the good work. I am looking to get started in this stuff. It seems like you have fun also.

Dean Hunt

Yes, young and alot of determination! My family is all worth it. I actually caught up on sleep today. No idea I could take a five hour nap! Dean, go get started, stop thinking about it! This works and IS alot of fun!

Continuous marketing for my property in Nebraska is paying off! I have added 15 new buyers to list in the last two days alone! Calling every CL ad that has to do with an investor trying to sell their rehab. I have two deals that have been accepted from last weeks offers, doing some more research etc and getting my buyers in front of them. I have 13 more properties to look at for tomorrow. Our rehab deal in Lakewood came back around because the buyer most likely will be unable to close so that may be ours by Thursday! Been a great few days...

Take Action!!