pressing on...7/1/2011

With independence day coming up I thought today was a good day to being documenting my REI progress. This will force me to stay on track, tuned in to the DG family, and find the success I'm seeking in REI.

I've had three short sales deals in the works over the last two years. All three were referrals I gave an investor RE broker I worked with when buying my own first two rental properties a few years ago. He agreed to pay me, at the time, a 10% referral fee. I have since begun working with a new Investor RE agent who has agreed to pay me a 25% "marketing fee". This 25% is the same percentage RE agents give to referring agents so the second agent had no problem offering me 25% of a deal she would not have had otherwise. I met this agent at one of the local REI clubs I attend.

So far we have one deal in the works while another just hasn't gotten off the ground. This second one, is challenging me. I know I simply haven't talked to the right people to form the presentation and offer I'd lilke to make, independent of using a real estate agent. However, in working with an agent, they agreed to build my fee into the deal. ($5-20K) depending on if the price makes sense. Unfortunately the cash buyer lost interest and I don't have a solid presentation which would really make the deal more desireable. Anyway, I'm limping on this one.

I've stirred up buyers and FSBO sellers using networking at REI clubs, craigslist and newspaper. What I have not had enough of is match ups!! the right deal for the right buyer - yet!

Meanwhile, my son has graduated from middle school so we are on to the next hurdle of high school. That plate is spinning nicely!

I've also enrolled in RE school. Yes, I'm getting my RE and Broker license simultaneously. (Can do this in California) Great education for me and cheaper to do both at the same time. Maybe it would have been a better investment to sign up for DG success academy. Hopefully all will be helpful to my RE future.

So, today...what am I doing to continue on this path?
Posted a few questions here via PM. Looking for some direction. Will do the same on my local (san diego) REI club site. Took lots of notes from last nites DG call and plan to install the info into craigslist ads.
Stay tuned...