Day 11 (plus recap of Day 10)

I was away doing viewings all day yesterday and didn't get a chance to leave a blog entry.

It was a long day.

It was my first foray into the real estate paradise. It went well overall. I was just shocked at the state of some places and the fact that they still have such value! Why on earth has it taken me so long to get into this business, when I've always felt deep down that real estate was a perfect fit for me? Fear can really set illusions in one's mind. Thankfully, I've sent fear and procrastination packing!

I was shown an unexpected amazing potential deal which is just outside of my buyers' price ranges. It wasn't a rehab but perfect for rentals or a resale. I wanted to make an offer, but one of the properties is bank owned and they will not accept an assignment deal. I'll find another way.

I know that for yesterday's plan, all I needed to do was to just get into the game and start viewing and bidding in order to move forward with my training. I am hard on myself and felt "cosi cosi", but I know that I did it, I got through the day, achieved my objective of viewings and talking about property- and I didn't bottle it. I must remember that I've only just begun! I'm that person that wants to make a deal on day 1 and sometimes forgets that I'm barely 2 weeks into this world.

To sum up yesterday, it was a success. I was 10 days in and making progress. There are deals bubbling and I am learning how to correctly evaluate property after a viewing as opposed to evaluating on paper, pre view. Another great thing that came out of my first day of views is that I am still confident that I can make real estate work for me. My intuition served me right about a realistic purchase price for a property even though the bank hadn't moved from it's high price for 2 years. I stated that I was interested and would offer an amount much lower. On paper, my offer was ludicrous, but I believed it could be accepted. My REA said they'd never go for it. Well, I had a phone call this morning stating that they had lowered the price substantially. Just knowing that I was right and the "expert" wasn't in this case, boosted me no end.

I just wish I had the funds to lock this property up. It is a potential goldmine.

I have an interested seller looking at a property that she is very interested in this weekend.

I approached her on Craigslist as I can help her. I have access to exactly what she is looking for. She is a cash buyer. So far so good with my recommendation. It is all down to her liking it when she views and my REA partner turning it into a deal.

Today I have been looking into transactional funding and escrow. I have also followed up with buyers and informed them about the properties I went to view that suit their requirements. I have had 2 positive responses.

I've been little overwhelmed with terminology, but I am a fast learner so I shall crack on. I am checking out real estate websites and online forums to learn more.

I am keeping the faith.