KEB'S later years

congratulations Keith on your two deals! that is awesome that your Ohio sixplex came through without a dime out of your pocket! amazing deal!!

Learning and progressing every day,
Valerie

Thanks girl. Are you ready for the training on Saturday??? I will see you Friday night...

Good Week yup!!

The deal fell apart that I was working on in Taft and Bako with the bank on a SS. The bank said that the guy makes too much money and the they will not do a SS or a DIL. The property will go to auction on monday which is not enough time for me to get it done. It's ok because I have several others in the pipeline. Also, this weekend (SF)Val and I will be going to a short sale training class (REIC) with a guy that runs circles around me. The class is in Santa Maria and if you PM me I will let you know the details and time. They only have five slots left as of last night... So, if you live in california and want some good training on SS let me know and I will pass it on...Sorry for the plug but good training is good training...Dean still rules..

We are on the road in five minutes to training that our locale reic up on at a locale hotel. It is nice to finally meet Val and talk about what she has done in ohio with our team. It will be a full day of SS info from a man that I watched do 50 deals in two years so I know I will learn alot.

The training that Val and I received was great. A ton of great stuff which I knew it would be. We had the opportunity to network with several people from out of the area. Found a money source for my deal in Lompoc that I am waiting on. We spent over an hour on subject too's which is the area that I want to work. Thanks Val for spending five hours to drive here to come to the training and meet the people in my REIC. Have fun in Ohio next week and make sure you meet everyone on your power team!!!
Read an email from Megan at dean's office inviting me to enter the 2011 contest. I was hoping to enter my story here (my journal) in the hopes that it would push someone else to move forward. If i was to win it would be great but to be in the top five would give me the opportunity to teach or train with other like minded people which is my end goal.
One of the locale school teachers has ask me to come teach her six grade class(only a small part of it) about stocks and how they work. She said that the school allows her to have a group of eight to ten kids in advanced math learn outside the box. I think this is great and I will love showing them how stocks with dividens can help them retire quicker. Are you smarter that a six grader....I hope soooo wish me luck on that one

In the morning I will be going to an investor mixer with the trainer from the class I just went to on Saturday. This will be in Orange County Ca. and will be attended buy some big money players. There will be a pro ball player there (?) to look at investing in real estate. He will have people all over him so I will not look at that lead but all the other that no one is talking to because of all the hoopla over the pro. Got to work smarter not harder.... we be a long day but should get me some more buyers on my growing list..

The DG guy in Tx that I was trying to work with flaked on me. It is a shame for him because if he would have done his part he could have made some good money. I had worked the deal with the owner of the house down to seven grand (yea 7k) and the DG man was to do the work and collect the rent. Money up front, middle and at the end in two years... He just vanished after I did all the work..The deal is still there so I know he didn't backend the deal...Oh well what do you do??? You know the saying ..horse water and so on...

Keb,

I just noticed that you were writing here right before we left to the seminar-at 6:27am! it was such a joy meeting you in person and your beautiful family! It was a long trip, but so worth it to meet other investors there! I'll be back in January for the next seminar! Wow- you're going to the Orange Cty meeting! that is awesome!
Yes, I'm off to OH next week! so much to do! so many people to meet and talk to! watch out OH- here I come!
I think you're smarter than a six grader... just watch out for the questions!
Good luck!
Val

Hi Val
I hope the weather is kind to you while your there. Tell everyone I said hi and that I will get back in a buying mode as soon as I get this six plex all wrapped up...Save some rents for the edge because we are going this year...

Keb-we are definitely going to the Edge 12!! I am so looking forward to it!!

Dont' care about the weather in OH- I'll just put on a coat and some rain boots if I have to! I'm going there to buy a house, not to sunbathe
I will say hi for you! next week I'll be there!
Val

I just got back from the LA mixer with dana and the group. Long day.....Lots of money people there...Will talk to you about it later..

Going to Santa Barbara ca mixer in the morning with REIC from Santa Maria. The Lady (?) that write and produces the realty411 magazine is hosting the first time event on the central coast. There will be lots of buyers at this event as well as some pro ball player? As the crowd pulls to him I will work the people away from all of the hoopla...Will post after to let you all know what happened.
Working a probate deal with another DGer. Family out of state and the house is full of everything (good full not bad full). The kids want it all gone and we are set to offer the house and all that is inside in one price. I have found out a few things on this and will post if we get the deal...

Well all is looking well on the six plex. All that remains is the paperwork for his LLC to me. He has three properties in it at this time so he needs to remove the other two and I need to make sure the LLC is clear of any law suits and taxes. Once I know that this is the case I will put all my ohio properties under it as well so that I am covered to some degree anyway. This place will be a blood sucking property for about one year and then it will be in the shape I want my tentants to live. The five year plan is to get it paid off or way down and build another six plex on the property (1.25 acres). Walking this one with caution to make sure all the i's are dotted and the t's are crossed.
Another DG member who I met at the Orange county mixer knew who I was and was talking to me about this site and the fact that he has a hard time pulling the trigger on a deal. He was telling me about a lady that died and then her husband died five months later. It was sad to hear but I ask him what the family was going to do with the house. He went on to tell me that the kids live in another state and wanted nothing to do with the house or the stuff in it...I looked at him and said are you "kidding me" there is your first deal right in front of you.. It turns out that the house is full of everything you can think of to include a 1250 lb gun safe. I looked at him and asked if he knew if the kids where here when the man past. He told me no. So, as I am starting to **** my pants I tell him that the safe is full of guns and more because he took the combo with him to the grave. As it turns out so far I was right on all counts. The family wants him to make an offer on the house and all the items inside within the next two weeks once the court gives them the house. I will bet my last dollar that the safe is full and that he will make a ton of money on this deal. This is killing me not knowing if I am right on the safe. The house is free and clear so I told him to have them carry for a year or two so that he can market the house and sell the items off for some quick cash. I am sad to know that one day this will happen to all of us in one form or another. You work all your life and build a life with stuff and then it ends up being someones yard sale...It's not right in a way hun....

I received my video camera from dean's office (thanks megan) so that I could film what I have done for the up coming send me away contest. I thounght at first is was just regular email from the DG site but as it turns out it was an invitation. This will be harder than I thought to do. I am not a camera person but if it is something that I know, then I will talk your ear off and help you learn it if you want to put in the time and energy. Oh boy, so I will film this (will take a few times.lol) so that others can learn that it can be done and that Dean is for real. So, in the morning me and the flip camera will cover one hell of a story with drama, theft, success, failure, buy holds, flips and the subject too's.
Note: Parents it is holloween week so please spend time with your kids because they will be gone before you know it. I did a 5k run with my new kid today dressed as a super hero (yea cape and all). The pics are priceless which I will post on facebook... What a great feeling...Looked like a fool but who cares....

Just got back on Sunday from a weekend in Taft repairing several items and talking with contractors about their bids on a upcoming project. We fixed three doors, replaced a wall heater, pulled permits for project (reroof) and finished working on setting up the trailer to live in. The contractor started on monday morning with the roof and if that goes well we will us him on the inside as well. We have finally gotten to the point that we can hire out some of the work while we are home to make things move faster. This is a duplex with 2/1 on each side. Should take two months and then bring in $900 per month.

I have decided to flip some of my ohio home to investors. I will market them as follows: Turn key properties in Ohio, renters in place all repairs done. Property manager take care of all. Great ROI... I will sell them for 45k each with the tentants and manager in place then turn around and do it all again...I am moving to the buy and hold on multi-unit now and selling the single family homes.... I have it set up to pick up 60 more units if this works out well....wish me luck...

The roof and porch are done on the duplex which went without a hitch. The city will look at everything on monday and sign it off so that we can move on to the windows and inside of the house...Things move fast when others do the work..wow.

I have been working with an older friend here in town that wants to learn RE. He just hit a home run right out of the gate. Two short sales that the owner will sign over and that the bank is willing to discount by 50% to get them closed...Take about being in the right place at the right time. I will walk him though the whole thing and see what falls in his lap next...

Spent the day on the phone with the short sale company's owner. She told me that if all goes well that I will made 1/2 the commission that the agent wound have been paid if she was using one. That's $1,200 for putting two people together and helping them both out. Man I love this crap....
Spent the rest of the day (12-5pm) driving for dollars with my mentor Dana Klaft. Learned so much it was not even funny...We went to a few homes that I had told him about and went right up to the door and knocked...empty but people around the home gave us a ton of info and contact numbers for the dead owner kids!!!! As we pulled away from that house I noticed that the house accross the street and four down was empty as well. Ran the house and found the owner one block away...He was home and what do you know I use to work with him at the prison...Wow small world...House is free and clean and they want to get rid of it.. I will multi offer on this so they think they have a choice in it... Then we looked at several reo's and called up the profile on them... Then drove up to my house on moonglow and saw a rainbow from the rain that just stopped... I think that says it all....I will get one or both of these deals...

Well it's monday and I am hitting the ground running. Have a FSBO to call and try to work a deal out on her house that is empty and has been on the market for over a year now (priced to high). Short sale paperwork (from people above)was faxed in this morning and looks to be an easy $1K for my work. I think my buddy will get the condo for 30-35k. Great deal for his first....It all comes back ten fold people.... Have to run profiles on ten homes from last week so that I can mail letters out. We call kids for the south side house (parents passed)and see were the probate is at this point. I will make an ofer for everything in the house and the house. This is a great house but it is ugly on the outside because of weeds,dead plants and trashy back yard. Well know what is going on with the other probate at tuesdays reic meeting. Just a whole lot of stuff in the fire right now...Which is good....

I looked at a fsbo today. It is free and clear with all the work complete on it. It's a 3/2 that she is asking 215k for in a 150k comp area. Now I have to figure out a way too lock this up at a good price and resell it to one of my home buyers. This will rent (in june) for 1,500 all day long. If I can talk her down to 175 or 180k then I can offer it as follows to one of the ten home buyers on my list for 200k with 20k down and 1,800 per month for one year. This will complete my side of the deal with the owner and cover the insurance and taxes. We will see how this plays out...

The six plex that I had hoped to have been closed on by now has changed from a subject too (take over LLC) to a subject too land contract (with sevicing company). The seller got cold feet about me taking over the LLC after talking with his attorney and RE agent. I told him that a land contract would be fine which has to be recorded which may cause the bank to call the loan! He stated that the bank has already stated that it would be ok. I told him that I need that in writing from the bank before we close the deal. Waiting on letter..

Went to taft today to look at a few homes that the bank has on file (reo) and check on the work being done at the duplex by the crew. Rained on the way back but the crew did a good job with the re-roof and porch re-build. We saw some great deals on homes from 10-40k. A few just needed cleaning up and 2-3k in repairs.
Will meet with FSBO owner to try and work out a deal on the house. I have a buyer liner up for 200k with 10k down and 1,500 per month. I should make about 15-20k plus $200 per month for two years. I gave her three options to chose from so I will win on any one that she picks. Will post what happens..

The meeting for morning coffee went great. We hit it off well. The husband came with her for this and I layed it all out for them. I typed it up so that they could see it in writing and have something to reference. I gave them three choices to look at which were all the same with a small change in the terms. They were 180k with 10k down for (7) seven years no interest with 1,500 (PTI)per month rent. 185k with 5k down for (6) six years N/I, 1,300 P/M.
185k with 3k down for 5 years N/I, 1,500 PTI. They came back with a few questions about what if they walk in two years. Reply the down is non refundable as well as the rent. They said the balance is due at the end right? I let them know that the balance is minus the down and that is all. They still owe you either 170-175k..Win-Win-Win
Note: I will get getting 1,800 per month and 15k down minus their 10k= 5k in hand and the balance at the end. Like a subject too without the subject...If I can find the right buyer on my list that can put down 30k I am out of the deal other than helping the buyer fix their credit so they can get a loan at the end.... Great way the start a new week!! They will let me know WHICH ONE THEY WILL do on wednesday. That was fun...And they told me they liked how I told them everything and how I liked what I was doing....Cool

I called my agent in Bako and ask her to run a search of all homes under 125k that have had a price drop, are vacant and need repair. Ask her to offer 65% of the asking price on all. She ask for proff of funds and an earnest deposit (copy of check). She knows what I do and we have tried to buy the 18 plex with her and she liked what we did on that offer. She will overnight the offers for us to sign and return. The market has heated up in my area from investors so I will fix and flip a few of these for rehab money in ohio...Man you just have to love this stuff..

Just got off the phone with the owners of the fsbo in Lompoc. Owners stated that they want to just go ahead and rent it out because it's a great investment for them being free and clear. Oh well what do you do but go to the next one....Moving on...

Hi All
Took a short break to spend time with the kid and wife. News for the week: The FSBO is still in play (wow). She called me back and told me that if she can get 215k she didn't care what she had to pay out to close it. Just talked with agent who has buyer with 40k down and they will be ready to look at it on Monday night. This will mean a quick 2,500 or more in my pocket for putting everyone together. I must have walked by this house 25 times before I called the number (bonehead). Always call the number people!!!!!!
Big news: Val and I booked the edge 2012 on black friday. Two people for 1,495 are you kidding me...Rents are paying for it anyway....We are going to stay at the host hotel but I want to share the room with someone else so that we can save some money AND give someone the chance come too. So, it will cost you $90 per night if we have 2 in the room. It will be for sleeping (if your lucky a few hours)anyway so let roll to AZ and have fun....PM Val or me for info...

Had a open house last night and today for the fsbo house. The owner gave me the keys and it went well. The lady with the 40k down came and liked the place alot. She is one of those people that has a hard time making her mind up. Had I guy come this morning from my buyers list and ask if she would take 20k down and a payment of 1,500 per month...OHHHHHHH YeAAAAAAAAAAAAA I think she will do that..This is my guy so I get the full fee of 5k....plus the monthly payment. Sweeeet....He asked me about RE and how he could put his money to work...You have to be kidding me right...An investor too...The day was going to good and I thought something bad was going to happen so I called it a day...WOW..

Hi all
I had a soo soo week. The fsbo is still up in the air. I had a call on some yellow letters that I sent out to NOD owners. What do you know one called me back and said that he had moved away and the bank is taking the house. I ask a few questions and found out that he filed a BK which will stop the forclosure on the house (it did). Then I found out the the house was not in the bk so I am going to ask the owner for the deed outright. Once I have the deed I will call the bank and work a deal out with them (loan is in his name but I will have the deed, no louse if they say no I will just give it back). Fun stuff this RE is I tell you...

I just finished my video for the Send me away contest and let me tell you that was harder than I thought it would be. Take #10 before I could talk right. You really see the real you when you are on film...Hair is gone and need to drop about 20lbs.lol....I hope all watch it when it comes out... I love to teach what I know to others and if I win it that is all I really want.. The vacation would be great but to teach would be the best reward...