Investing Journals

9/7/2012
I just finished watching a video from Andrea (and Chip) about having a power team and she suggested starting a journal on DG.com. I think that is a great idea as I have learned from so many others on this site and maybe by me sharing my progress, I will help or inspire others to take action. I have had such a desire to be a part of something bigger and DG.com is part of that. So here is my story so far.

How does a poor paycheck to paycheck husband grow a corporation from scratch?

A 41 year old man with no savings or medical insurance, how will he take care of his wife whose body is full of aches and pains, due to, fibromyalgia,stomach ulcers, and arthritis in every joint?

How will this man change the course of his life?

Can real estate investing truly offer solutions?

Freedom?

I guess it is time to write a journal to see how this journey will pan out.

This is my first post. I have been a part of the DG Family for over a year now but have never posted a journal because I was embarrassed. It has been a year and we have yet to do a deal. We still haven't done a deal yet using the strategies we learned from Dean but as of yesterday we closed on a house using money we grouped together with family and bought a short sale home where the seller fell through for 95k. From the time we made the offer to today, when we officially get the property, the value has already gone up to possibly 130k. So we are considering flipping it. Also, I have been working with a local investor in town and I found him a deal by posting an ad on Craigslist and he bought the house for 67,500, rehab for around 10k and selling for 127,000.

I haven't been on hear for a while because I've been busy making offers and having fun with my family.I put in 5-10 offers a day.I closed 2 deals at the end of July and made $9500.I have another deal that is closing on 9-14-12 ,similar to Rando1,and I'm making 15k.Its a estate sale and their are 7 family members that will be involed in the estate,but only one has rights to sign.We were suppose to close the end of August but its a probate.This the most I've ever made on a deal.I have a great realtor and I hope that all the people who haven't done a deal yet,would JUST DO IT! SERIOUSLY!

I have know for years the Real Estate is the way to go. I tried before to buy, fix and flip. Every time, my backers backed out and the deals feel through. I have seen DG before and joined the site awhile ago and never did anything. I just watched video #1 and 2 tonight and updated my info on the site. Now I started my journal.

It is late and I need to be up a few hours to go to my "job". I am looking to find audio copies of Dean's books since I read slow and drive a lot. I have read others and been to seminars and training before. I have a good basic concept of what to do and just lack the experience to pull the trigger myself.

I also lack the funds to just do buy and flip. I am looking to do wholesale and raise funds and then do buy and hold/flip.

I loved the post on journalling your real estate journey. I hope that my journey provides fuel to others as well as providing a keystone in future success.

I went to the REIA meeting the other night. The most vocal group were the realtors - boy were they Dougie Downers. Whoa is me, whoa is this market, it is going to get worse, blah, blah blah. I was hoping to come out of there pumped and instead felt like I had been doused with negative energy goo. I did get some names of professionals that I might want to use for my power team at a later date. Will I go next month? Yes but I will definitely prepare myself mentally before I go.

I responded to a By Owner ad for a 5 unit building (1-1br, 3 -2br, 1 3br) and owner is very motivated due to age. The building is in a downtown area, no yard, has on the street parking. Owner previous rented units weekly from $165-185, he paid utilities about $700-800 monthly. Currently it is vacant and needs roughly 5k to get units ready to rent.

He's agreed to do owner financing. He suggested 6% for 20 years w/15% down, PP of 85k. As we spoke I asked if he would pay for materials and I'll cover labor (husband), he agreed.

So now its my turn to counter and I'm reading Dean's books & members journals fast and furiously to learn negotiation techniques. His terms are good, yet I want great terms !!

All too often we go about life wondering where, when and how to begin. I arrived at that crossroad a couple of years back and began a search which has led me to my present life circumstance. Recently I found myself at a similar crossroad and decided to give DG’s education a shot. I attended the first free seminar and some lights turned on for me.

I subsequently paid for additional enlightenment and attended the 3-day workshop in El Paso. As enjoyable and as enlightening as that was, many questions came to mind and my head began to spin as B.L.M. described the many different options and combinations there are to do deals.

Yes, it's true!! I had a wild weekend in Vegas at The Buying Summit and now must confess ... I pulled the lever and purchased my first investment! There it's out ... may the world know that I'm now "InvestorGirl5k", obsessed and addicted to finding deals and purchasing RE. Since that weekend, I've been bidding and making offers on properties. There is no end in sight. And to think it all started with one simple action, one that I'm excited to share ... I picked up my pen and signed on the solid line! It felt exhilarating. Can't imagine how I'll feel when I receive my first investment check !!

Thanks for reading my confessions ... am looking forward to chatting with you and doin' a deal.

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