Rina's DAILY JOURNAL: Chapter One - The Beginning

Sure is an adorable baby, can already see him as a handsome young REI.

Best wishes from our family to yours.

cactusbob

Hi Rina!

I wanted to congratulate your daughter and you as well on the little bundle of joy! Don't you wish sometimes, this stage would last longer?! And they SMELL so good! At least when they are clean! LOL

Almost missed your big excitement.... since I'm way too busy right now and barely come to post anything here. I have about 30 to 40 deals I'm working on right now. And a lot more coming my way in the next week!

Last time I told you about those dirt cheap rehab properties, I think you said Dawn wanted to know about one of them. But before I even had a fighting chance to put them up on my website these were already gone.

I just posted the new ones on my GROUP site (WHOLESALE DEALS - all 50 States). These

properties start at $3,500 and are sold as is.

Can you believe these prices? Nothing in WI (in this batch) though, but there are tons of them coming my way. So keep looking at the group site (or email me).

Enjoy the time with your little grandson, and if you need a house in Tulsa soon.... you know where to look, right?! LOL

Best,
Conny

Hey Rina,

When you have a chance, I explained the HUD deal options I am looking at right now in my journal. Do you think these are feasible?

Thanks,
Lonnie...

Do you use Dean's Automated Foreclosure Finder? If you do how has it made your job of finding forclosures?

Anne

While the AFF system is an awesome tool, I have not yet pursued using it because I have more than enough deals/leads for the pace I have set for myself at this time. I would certainly encourage you to try it, though, if you are looking to deal with properties in the foreclosure process. I believe you can get a free trial period.

Best wishes,

Rina

The numbers look good and you've got some good ideas on how to pursue it. But you said one thing that might make me hesitate. "a 3br/1ba house in poor area"
I guess I wonder what you mean by "poor area". Bad neighborhood? To me that's a biggy. I know some investors aren't so concerned if the numbers are good. Do you have investors already lined up that would be ok with the area? If so, great! If not you might want to investigate that a little before offering. Also, if there are families that might be wanting to buy a house cheap in the area, or if there are incentives through your local housing authority, that might be a path to look into as well.

Hope that helps.

Rina

P.S. I love your quotes.

You guys are too funny. I can't wait to see what they put together for the infomercial. Anything Dean does is awesome, but hopefully whatever I had to contribute (I have no idea what they used) was a plus, because I sure want to represent Dean well, I'm so grateful for all he and his programs have done for ME! Hopefully we'll all be adding some great home video on Deansmedia.com. Now that I think of it, what's up with nobody uploading any videos?
Hey, I'll give a reward to the first person brave enough to go put something on there! Yeah, there are enough students here, we should all be joining dgadmin's (Jason's) group on the media site. So, there ya go. My challenge.

Go to www.deansmedia.com and join the group and post a success video. It'll be fun! I'll see you there!

Rina

P.S. Thanks again for all the congrats.

Thank you very much for the warm congrats!
And yes he DOES smell good. And the best part is, when he DOESN'T smell so good IT'S NOT MY RESPONSIBILTY! haha

Conny, sounds like you are REALLY, REALLY busy! Awesome!
Can you share how this has been working out for you? Have you been able to do a number of assignments, or bird-dog deals? Just wondering about some of the details. I'm very excited for you!.
Good job, sis!

Rina

It is in a poor neighborhood but is surrounded by mainly owners, not a lot of renters so is still a decent neighborhood. This is the first deal I have had to even take to the list of buyers' so we'll see how it goes. I will be using the 2-4 wks of closing time with HUD to try to get a solid buyer. Thanks for the input.

Lonnie...

Well Rina,

I made the call and joined today. I am scared to death and excited about the possibilities. I hope I can do it.

Lonnie...

CONGRATULATIONS! I know your last sentence was supposed to say "I KNOW I can do it"!

You'll enjoy it, and you'll grow faster than you ever dreamed. Just put some confidence and action in the mix and you are ON YOUR WAY!!
Looking forward to your first success story (and the progress leading up to it, in your journal)!

Rina

Congratulations on the birth of your Grandson!
I've been a too busy lately to be on the site but I have been missing everyone here and thinking about you and your daughter a lot. I find I am very attached to members on the site and miss them when I am not here! It really is a unique site to be involved in.
Angela

OK, this week my coach reminded me to use PDCA. Plan. Do. Check. Adjust.
I feel like I am learning to do that very well. Especially the adjust part. Transactions up here can be so bizarre and unpredictable, that I am very comfortable now with “going with the flow” and just shaking my head at the end results. Lol
Here’s a little update for my journal, interesting turns of events...

1) 1st short-sale prop: the “flood” at the first short sale (3/2 w/ garage, beautiful yard, great location) has been cleaned up, some new plumbing, brand new furnace and some ductwork, altogether about $10K by the insurance company, plus a one-year warrantee if the water heater fails. All again from furnace going out, pipes freezing/bursting. We’ve signed the final offer (still $50K) and it’s off to the seller’s bank for approval (crossing my fingers).

2) 2nd short-sale prop (3/2, yard, garage, great location): owner has accepted offer of $50K, has been sent to the bank. Guess who the bank called to get a BPO last week??? lol. Guess what it came in at?? lol
Looking good.

3) Prop# 3: Sisters and court dragged their feet on the 3/1.5 in SS. My final offer was officially signed now end of last week, supposed to close end of the month. In the meantime, the listing agent went back to the house to find that the furnace had gone out, pipes froze/burst. They found water gushing through the house. Major damage. We went to look today. They’ve got commercial fans going, everything is gutted downstairs (down to the studs), and down to the beautiful original hardwood floors (which I’m hoping will still be OK). Interesting thing, though. Gail said the agent was wondering if I’m still interested, might I consider taking a check from the insurance company after they get their bids on the repair (rehab) cost? Hmmm…. Free rehab? I said I’m open to all options. (Just “going with the flow“. No pun intended ) Might include a new furnace, too.

4) Prop#4 I’m meeting with the guy who wants this place very much. He had seen it last summer when it was listed for $110K. Now the sellers have offered it to me for $50K, and have sent me the key. This gentleman will be in from New York next week, I’m going to try to connect him with some good financing. He’s got $ down and a good job, but a large truck payment. I’m willing to be creative, of course. I’m believing this will turn out a win/win.

Last but definitely not least,

“Gain the E.D.G.E. 09”
I got to talk with Dean the other day. It is very exciting to know what is coming up at the live event in April! I am so looking forward to sharing, and to LEARNING from the great people he has lined up , AND FROM DEAN HIMSELF! I feel like I am just a baby REI (even though I have grown more than I could have dreamed in the past year!), I am SO ready to absorb from him face to face.
And looking forward to meeting everyone!

Rina

P.S. One more week of “baby time” until my daughter and the baby are gone back home to be with daddy/hubby. I will miss them much, but glad they’ll be together. Then it’s back to full-time REI. Maybe I’ll have some definite closing dates set. And then ON TO MORE DEALS!

YOU GO GIRL! That plate of yours is gonna break in half pretty soon, better get a platter!!! It's great to see you doing so many great things! Sounds like your Realtor is really working for YOU, she should do all the BPO's up there! I think they need to go back to school here, all the realtors think the houses are made of gold or something!

And you got to speak with "the man" himself! I'm green with envy! Too cool!
Next time tell Dean "HI" for me ok?

And about those pictures....What a cutie!!!! Don't squeeze Kaden too hard now!
It's gotta be hard not to, he's so precious!

Call you tomorrow....(I know, thanks for the warning!)

Dawn

Dawn, it was nice chatting with you this morning, sis. I know you're gonna do great!

addendum:
Here's the addendum my agent wrote up this morning concerning prop#3.
I'll add to or subtract from it and we'll send it back on Monday. I thought it would be interesting to get input from the DG fam on any other creative ways to go about this "change" to the contract. What would YOU ask for?

http://www.deangraziosi.com/ufiles/Amendment_6118_John_Ave.pdf

Rina

Looks like you covered all your bases Rina. Let us know if it's accepted (it should be, it's their bad)! Maybe you should ask for a year's supply of sponges too!

Loved the chat today too, you're so fun! (and helpful) BTW-I sent numbers (cash flow analysis) & more info on the duplex to Mathew...now it's a waiting game! I'm crossing everything I can!

Love ya sis,

Dawn

Good luck Rina. I hope everything works out for you. It looks like you have some great deals there. I remember living in Portage, WI and praying for the warmth of summer. Here's to no more busted pipes.

Josh

on the birth of your grandson.
AND the continued success of your business!!

Geez..I have been off the site for a long time..just returned from my first trip to Forida and it was AWESOME although we worked quite a bit too! We love it and I would not be surprised if we end up re-locating there sooner than I had suggestively sold to my boyfriend when I suggested the initial plan. (Did you ever get my pictures?)

It sounds like you are still crazy busy! Is your husband buying into it any further these days?

Wishing you lots of love, peace and prosperity!!

Kate

Dawn~ Girl, you are really moving!! I just read your journal and you are just glowing with confidence! again, whether you realize it or not!
Looking forward to March being a great month for you!

Josh~ Hey, thanks! Do you miss the cold and the snow? lol At least we're rolling into the end of winter. Plumbing issues should settle down for awhile.
Good luck on your REI!!

jem777~ yep, gotta do the homework. And even then there are always little bugs to work out. Hey, I've gotta check out your website.

Kate~ You know I couldn't get those pics to open before, and then I forgot to try again. I went back now and pulled them out to see. BEAUTIFUL! No wonder you're so excited! Yes, things are going very well. Thanks. Give me a call when you have a chance.

#1) Still waiting to hear from the short-sale bank...

#2) $50K accepted by bank today. Woohoo! Inspection scheduled for Monday, we're insisting on utilities being turned on for this. crossing fingers... Closing must be before April 9th (I'm guessing this is auction day).

#3) Moved closing to April 27th. Insurance company will only issue check to homeowner, so waiting to hear the plan. Should have a heck more built-in equity with everything new for the price of the old! Yeah!

#4) Meeting this weekend.

#5) Have a beautiful duplex lined up with seller-financing with small downpayment (trying to get private money for that part), cash flow about $300mo right away. Young investor moving his focus to Florida (where he wants to reside). I'm a little nervous to commit to this one because I feel like I'm taking on too much. (somebody talk me into it!)

#6) Older investor landlord is still unsure of my offer on his duplex (sandwich lease). But wants to talk some more. I told him to keep my offer in mind.

Met with an investing RE attorney yesterday. Have heard good things about him, and was not disappointed (AND he knows Jon from years ago). BONUS: He and his partners have started and own a title company located RIGHT IN THEIR OFFICE! How convenient is THAT! Spoke with the gal in charge. Had my realtor send them the documents for this next closing. I am excited about the possibilities! (yes, they do assignments, double-closings, etc!...)

Loving REI,

Rina

#5) Have a beautiful duplex lined up with seller-financing with small downpayment (trying to get private money for that part), cash flow about $300mo right away. Young investor moving his focus to Florida (where he wants to reside). I'm a little nervous to commit to this one because I feel like I'm taking on too much. (somebody talk me into it!)

I think I can!
I think I can!
I think I can!

If you think that you are taking on too much: You are right!

If you do not think you are taking on too much: You are right!

I think that YOU can do anything, be a great parent, be a (great) grandparent, be the most supportive person this DG family has ever seen and still buy "a beautiful duplex lined up with seller-financing with small downpayment. Young investor moving his focus to Florida (where he wants to reside)"

I know for sure that you do not want to take away that young investors dream of moving to Florida!

Angela

Now THAT'S talking me into it!!! Alright, I think I am taking on just the right amount.
You know, when that deal closes, I will send you your "motivation" commission! (you think I'm kidding?) Hey, are you going to the event??

Thanks again,

Rina

P.S. I think I owe Dawn a bunch of commission, too.

Happy to nudge you 'one' closer to your 2009 goal

Going to THE event?
Unfortunately no.

There are some HUGH issues I am dealing with personally and I have come to the realisation that, at the end of the day, it will only make my success story all the more spectacular! (insert fireworks here!)

Having said that, I do have a little handwritten note right in front of me below my monitor, complete with smiley face: "Arizona in April"

Hey, you never know!

Angela

Rina,

I agree with Angela. It sounds like a good deal as long as you get the financing good for you. $300 a month cash flow is great. Hope everything works out for you.

Looks like the sun is shining through that blizzard you got today.

No need for the commission Sis, your friendship & guidance is PRICELESS!!!!

And about that duplex....NEVER say NEVER! If anybody can handle becoming a MILLIONAIRE it's YOU!!! At this rate, you'll reach your goals for 2009 in a few short months! Whoooooooo Hoooooooooo! Doesn't that feel great?!!!!

And I'm thinking we should relocate with that "Florida Investor" after the weather we've had!

Dawn

Rina, I firmly believe you can handle anything you put your mind to doing. Go for it and let us see some pictures. Well I am following up on the property in Baltimore. I received an "Intent to Purchase," from an LLC for a price range of $41,800 to 48,800. This was presented to the mortgage company last Monday by fax and the hard copy put in the mail on Tuesday. How long do I have to wait to hear from the lenders, or should I call them tomorrow to confirm receipt of documents. Reason: you know, at time they get angry when you continually call. What do you think. I an anxious to hear their response. Thanks.

Sandra

I agree that friendship and encouragement is priceless! I can take what I read in Dean's books and in the coaching curriculum, and can apply them. I have the knowledge in words to review over and over. (Of course invaluable!!) But truly priceless to me is the "you-can-do-it-ive-ness!!" that the living, breathing, RE friends in these forums provide. Even with all the motivation and determination and confidence I have in myself, the "real" world around me could easily close in and suffocate me if I didn't have the bubble of support always to cushion and protect from the negative. I listen to random conversations when shopping or waiting in a doctor's office and I think "Wow, is it really that bad?" I guess I am creating my own reality, and everything we receive here adds to the positive.

And, YES, Florida sounds great!!

Love ya,

Rina

Sandra,

Yes, go ahead and call. Keep bugging them (in a non-buggy sort of way. lol). The squeaky wheel gets the grease, and sometimes things get overlooked or set aside. DON'T assume that everyone is doing everything they should. Nudging is good.
I'm sorry the offer on your place isn't what you wanted, but hey if you are willing to be open and your goal of moving on will be accomplished, good for you. Waiting can be your enemy. Set your goals and adjust until you succeed. Just think how much better you'll breath and run without a thorn in your side. Here's to a GREAT 2009!!!

And, yes, I will get some pics and share them. I should show you the walk-thru video I took BEFORE the flood on prop#3 (But I really don't know how to put it in. ) AND I have the funniest picture of Gail standing on a chair in the middle of the flooded basement of prop#1, checking out the damage. LOL She'd probably kill me! haha

Here's the link to prop#2. Hope I'm not jinxing the close.
http://www.trulia.com/property/1060440534-6409-Banks-Ave-Superior-WI-548...

God bless!

Rina

Rina wrote:

And, YES, Florida sounds great!! Rina

Hi Rina,

you MIGHT want to reconsider.... when I tell you that here (in Madeira Beach, south FL) it was freezing cold today, and windy as only Chicago is supposed to be! And just NOW, this moment, the local newscast is announcing a "FREEZE warning"!!! Seriously!

Anyway, just wanted to let you know:

I just got another about 320+ dirt cheap rehab properties in! And this time I think I have THREE in WI... but you have to be fast! LOL

(Sorry about last time, Dawn! That one was gone within a day or two!)

And - like before - for most of these properties I offer owner financing: with low down payment and very cheap monthly payments ($200 and up)

These are the states where I currently have deals available, dirt CHEAP REHAB or REO properties (starting at $4K up to approx. $50K mostly):

AL, AZ, CA, CT, FL, GA, IA, IL, IN, KY, LA, MI, MN, MO, MS, NC,
NH, NJ, NY, OH, OK, PA, SC, TN, TX, WI, WV

I'm busy... have to start packing tonight: I'm going to sign contracts to buy 3 buildings in PA day after tomorrow (one commercial building: 4 units and a laundrymat, and 2 more duplexes, next to each other). And the best is: all owner financed, really really cheap, and I have already 5 or 6 renters on the waiting list.... although I haven't even started to renovate - obviously, since I'm still in FL!!!

Gotta go - too many things to do..... Wish me luck!!!

Conny
connywolfram@****