Rina's DAILY JOURNAL: Chapter One - The Beginning

Rina, I sent you a few pics...check your personal email, K?

Luv ya!

Dawn

Your last posting in the Journal was on 13th May 2008, if I am Correct. you must have done really well during all this year since then. Read all your previous entries, it great to let others now, how hard & busy you had stayed 7& the kind of problems you encountered, so others can learn & take benefit. Your husband's stress & Migraines must have been better by now, with all your latest successes. its all very Inspiring, I live in Vancouver Canada, just read Deans book twise, its amazing, seems like a great adventourous & prosperous path to go. all the best, Sincerely, Barjinder.

Hi All.
I just finished college and also finished reading Dean's book.

My goal is to buy 1 or 2 homes and then rent them out.
However, I only found techniques mainly for assigning and selling equity.

What are the techniques used to buy a property and then keep it and rent it for the long term?
Thanks for any help!
MayJean

Good Afternoon Rina,

I enjoy all the information you share on the DG site. I have been trying to learn more about the DG site, such as what all the user symbols mean and how do you get each symbol. Also, I see a lot of the top users have symbols such as "DG Superstar or Inner Circle." Can you please explain these levels and how they are obtained. Thank you for your time and have a great day. - Indiana Joe

Just popping in to say sorry I haven't been in here the last couple days. Working on a project w/ my husband. He's off for 3 days (no DG addiction time for me. lol) Am anxious to correspond with you!!

Love,

Rina

Hey girl! I tried to call you, your mailbox is full...I really NEED to talk to you. Please call me when you get a minute....I'm freaking out here.

Dawn

Glad we had our "emergency talk". lol
Hope all is going well, sis!!

Rina

Barjinder,

Thank you for the kind words. I really enjoy sharing (and I grow so much myself by reading all the journals)
I think the last post of my own stuff in here was #493 3/26/09. Of course I've been posting about my current deals out in the forums (I think I left links here, too, at different points).

update...

I'm meeting with the local investor this coming Monday (the one I met at my last open house). We chatted yesterday. He is looking to buy upper-end short-sale props in the area (he's looking at a 1.5mil propr right now). He will pay a referral fee. While I don't want to limit myself to "referral fees", I can tell I will learn a lot from working with him and can possibly do some assignments since the ones I hold are lower-end priced. SO, here's to "another new relationship"!

I am SOOOOOOO looking forward to my WA investor and his wife coming next week to visit and see their properties in person for the first time!!! Maybe I can get them to take a picture with me to put in here or on Facebook. (What'ya think, guys?)

And LAURA, as soon as that closing date is set on your property we are gonna PARTY when you come!!!!

Have had TONS of calls on the house I currently have FSBO. Can't wait to get that $ back into play! (Too many wanting a lease/option though. Not to be greedy, but I want cash for this one)

Well, the EDGE event was another turning point. Talk about a POWER BOOST!! And then having so many of the same people get in here and join forces with the support in the DG family, AWESOME!!!!!!!!
(btw, I learn so much from Anita's boldness. Even after being here so long, I actually felt shy at the event. How dumb, huh? Anita thank you for being so great with people and for laughing at me when I need it!!! lol.)

Well, I know there will be much more to post after my first double-close this coming Friday (it's looking good! Friday, 1:00pm). And then on to other deals!!
Have set another goal too. Skydiving! I'm thinking June/July sometime. YIKES!!

Rina

Hey, welcome to the DG family.

Buy & Hold, my favorite!! That's a pretty broad question you've asked.
There are a lot of ways to acquire properties. Of cours, the most traditional is to get conventional financing and purchase a property outright, and then rent it out. You can also lease/option from someone and find a tenant, or get seller-financing and do the same. There are a number of great threads in the forums conatining info on buy & hold or being a landlord. You may have already come across several since posting in here. Try a search. I will look too, and try to get you a link or two.

My favorite properties are the REOs. We buy them as-is, fix them up and then rent them out. We have done several re-fis to cash out afterward and have multiplied our $ to reinvest in more (haven't done any refis yet THIS yearthough. we'll see if they've indeed gotten more difficult)

I wish you well on your RE investing!

Rina

Indiana Joe,

I have been appreciating all your posts on the site! You are very encouraging and have brought out so many great old blogs and posts. Thank you!

The user names change as you get to different levels of participation. Whenever you post a new forum topic, it is worth 5 points and adds to your "level of participation". Other follow-up posts are 3 points. What's really cool is it turns out the points are worth MONEY. So far, we have been able to use them toward the EDGE event. Dean gave $1 for each point toward the cost of attending. Many of us got to go for free!! DGadmin said to watch for other products/things we can use them toward in the future. Pretty exciting!

As far as the badges/symbols go, you can hold your cursor over them and see what they're called. If you have a question on any particular one, let me know.

Please tell your wife I said hi. Hope to see you two around for a long time, and I look forward to hearing of your success!!

Rina

THANK-YOU! for the talking to! Did you get the pictures? I'm not nearly as nervous as I was thanks to you. You're words are like a voice from heaven!

You have a Washington investor? How did I miss that?!? You are amazing, good luck with that! If you ever get too many to handle, you can always send them my way!

I called Debby & Tom but missed them...when they called back it was the night the kids had the baby. We're playing phone tag now!

Have a great day today Rina! (I'm planting a garden!)
Love ya,

Dawn

PS- LOVE the new picture!

Hello Rina,and Happy Mothers Day to you,and all off the mothers, and mothers to be on this site,and beyond.I took a little hiatus from investing but managed to raise a little bit of money in the process.I am looking into an Reo to move into and flip after the market rebounds,but i am a little stuck on structuring and presenting the offer,and i was hoping you could lend some advice if, or when you get a chance.I posted the details under http://www.deangraziosi.com/real-estate-forums/buying-foreclosures-reos-... And this would be my first offer on an Reo, so i figured why not ask the Queen .Oh yeah im reading deans book "Profit from real estate right now" and i read your testimonial.I think congratulations are in order ,talk about star power.I hope i dont sound too cheesy, but i just think what you have allready conquered, and continue to accomplish is great.This site is great, and i hope all you mothers out there have a Great Mothers Day!!!!!!! Clovis M. Ps. In hindsight, I hope i did'nt jack your journal page,maybe if i have another question i'll just p.m. you.Sorry,let me know if so.

Hello All,

Like everybody else, I was having an insomniac moment and came across Deans' commercial on TV. To be honest, I kept seeing the commercial for the next month, constantly, on Daytime, evening and night time programming. Finally, while at my job, completely unhappy and wanting more for myself and of course my family I started researching the various SCAM websites trying to see if Mr. Graziosi was as true as he seemed on his infomercials. Several sites I visited had Dean rated up there as one of the most "REAL" people out there at this point in time with keeping up on the CURRENT market deals and techniques. I'm just about done reading Deans Today's Market Book and am about to embark on the Be a Real Estate Millionaire next week. Dean has laid everything out there literally in Black and White as far as where to look, who to talk to and build relationships with etc, etc, etc, (as we all know being on this site now). I have a decent job making $14+ and hour and also have a small chunk of change sitting in CD's from a house that sold from a failed relationship (wish I knew of this book before....ugh, the possibilities!!!!)

I believe i'm crippled with FEAR of failing....after reading the book i've realized that I have a personal friendship with a Mortgage Broker, have a RELATOR with ties to my family, credit score in the mid 600's and that chunk of change making a measley .995 percent over 3 and 6 months.....but am again so reluctant to "PLAY THE GAME" whith what would amount to be my savings for the kids college (which wouldn't even cover 2 years at a Community College....crosses fingers for scholarships) LOL. You people on this website have some extraordinary stories!!!! and maybe i'm overanalyzing due to my time at the title co. with having all these stipulations and what not with properties as far as termites, questionable chains of title and just overall tightened restrictions with title co's and lenders....(oh yeah, and I know a title co. agent too) It's frustrating to me to see that I have probally 60% of a team (potentially, we'll see their reaction after the "TALK") and the local area marketing and BANDIT SIGNS. I'm currently renting with my GF (with an option to buy at a later date, it's her parents investment prop.) and i'm just looking to leverage my money and hopefully provide a more then excellent life for myself and my family......Does anybody out there have a similiar situation to mine that has since started the game and got out of the "RAT RACE". IF so i'd love to hear you out, can email me at CORONAKID76@**** and i'll be sure to check it out and who knows, we could become eventual associates at some point...

Thanks for the any help / advice or what not.

"Work Smarter, not harder!"
"Let your money work for you"

...Rina, It is truly amazing what you've done in a such a short span of time. Things just seem like it's "clicking" for you. (deal after deal after new connections) I'm proud and inspired... yet frustrated right now. I'm stuck with how I should approach the banks with this deal that I'm trying to put together. (The HML...refi) I know it's a money-maker, yet, I'm scared of rejection being that my credit is not so great. I know I should just start out assigning, but I really want to hold this one.

I'm going to take my tail out from between my legs and just DO IT!! I'll tell you guys how it went tomorrow.

Wish me luck.

woke up at 8am- feed my 9month old who is suffering from teething pains *tears* ( I had to go to the ER earlier tht morning since he had very high fevers that would go down- guess what the diagnosis was from the doc?? " we concluded that your son has a fever, nothing we can do just give him tylenol"!!!!!! What a genius, right?

9am I went on DG for more great info-read the latest Dean book and took some notes

10am-12 pm I search the net for info on a property that I am working on -hopefully it will turnout to be my first deal( its 5 acres and its in a GREAT location, the problem?? I will be actually just buying land bcause the property was built in 1850, has major water damage- conclusion it is worthless and has to be destroy)

1-2pm met with an investor who helps people with bad/ no credit to get a loan, the temrs arent that bad -in one program the buyer needs 10% down and needs to refi within 1-3 yrs-basically a lease-option

4-5pm went to the 5 acre property to see it for the first time/ it was huge and the location even better than what i anticipated- noticed a lot of development/ cosntruction of real estate ......so if i can make an offer and a contractor or investor buys it and builds at least 5 house on the land they will make ALOT of profit. I just dont know what offer to make since i dont have buyers that want land-I emailed many and sent emails to contractors so hopefully i well get an offer

A question: should i have them sign a purchase agreement and state i need 45-60 days ? I think that doing a back to back closing will be more profitable and that way seller nor buyer knows my profit. my only problem rigth now is figuering out what offer to make since the property is unique and does not have comps- i looked up land that has being sold in the location and some have sold for as high as 700,000! but when i go to website for my pro value i get $335,000-440,000 but i dont know if the value is for the house itself -crap or does it include the land?

RINA OR ANITA ANYBODY HELPPPP! I ned to make an offer fast so they see i am serious

p.s i felt sooo nervous going i kept thinking " awww they are probably questioning my abilities since i am soo young!!" i hope not.

Darling little boy! Those teething pains are hard to go through.

About the property, there may be easier routes to go for your first deal (SFRs, smal multi-units). But if you feel this could be a great deal, by all means check into it and do the homework. How long has it been on the market? Do you have a realtor that will get comps for you? Have you read through the section of Dean's book about IEE (Instant Equity Exchange)? Start there. If you make an offer, be sure to make it low enough to create plenty of equity to attract a buyer. So figuring FMV will be very important. Also, the cost of removing the house, etc. Oh, and the website value you're finding would most likely include the land and improvements (buildings). Depending on what website you're using, it may or may not be accurate. A realtor you trust is still the best way to find comps if comps are available (sales within 30-90 days).

Good luck, and make sure you're looking at/offering on more than one prop at a time. If the 25:1 is true in your area, you don't want to take 1/2 year to get an offer accepted.

God bless,

Rina

Thank you for the Mothers Day greetings!

Don't be afraid of rejection. Keep looking for that "yes". It takes the chance of hearing a "no" to get to that point. Think of all your options on how to work this out. Maybe approach the smaller local banks firt. (Nathan Biggar has some great tips on this)
http://www.deangraziosi.com/real-estate-forums/financing-and-credit/2048...

all the best to you!

Rina

just got back from showing a house this morning... chanced upon another serious investor, maybe a bit older than me. just lost his family recently (didn't give specifics, but I could see the heartache) and sold it all to move up here. is in the process of buying properties...
I was trying to remember the conversation that led to all this info to put it in here, but I can't. The point is you can quickly get to know someone when meeting in person. People are willing to talk and share if they see that you are listening and care (I think Dean blogged once about "listening")
So, anyway, I told this guy I want to keep in touch with him. That maybe we can work together. He was very open when he saw my confidence and heard the teeny bit of background I shared. We are meeting again later today (after my meeting with the OTHER guy in town) to talk some more and go over the plat book of the area. I have no idea how "big" he is, but I can "see" the potential.

NOW, ladies, I have noticed something that I would like changed. I only know of ONE other serious investor in my area that is a woman (out of dozens I've met). What's up with that? I think that there is no reason the guys should dominate this market (please, no offense guys, just wanting to encourage my sisters. we're kind of in the minority. ). I have learned a lot by watching the men and dealing with so many. I know men and women are made and wired differently (Thank God), but we can use all our strengths to our advantage. So know that you can do it, no matter what your personality type or how big your stature. Build your confidence and be yourself. People will respect that. And, very important, know that YOU DESERVE SUCCESS! You don't have to pass it off to someone else. Soon enough our giving nature can be totally satisfied because we will be so blessed we can give as much as we want!!! Blessed to be a blessing.

Once again, I want to say how much I appreciate Dean! I am every day amazed at the heart that man has. After meeting him in person for the first time at the EDGE event and seeing that everything I thought of him was indeed true, I am even MORE excited about being a part of the DG family (if that were possible) and I cannot WAIT to see the new flood of success videos that I know are gonna pour in from DGers all over the country!!!!

Will post more later. My realtor e-mailed with some props she wants me to see. She's all pumped after finishing BARM, her brain "going a mile a minute with ideas". She's so cute. She's a fireball. We are definitely gonna do some damage this year!

Rina

Thanks for the information about the site icons. My wife and I enjoying reading the information you share. We are so happy to be part of a wonderful real estate investment community. It is very refreshing to read the informative postings on the site and speak to such motivated individuals. Have a great day and best of luck with your future deals. Believe and Achieve!

I've been 'off site' too much! I'm waiting to hear from Gail about the closing....the suspense is killin me Ironically she was in Arizona last week and emailed me that she would call me when she got back sometime this week. Trust me - you will be the first to know when its all set. Just hope they give me enough notice to get a decent air fare out there and time off from work! Man - you are killing it with the deals and contacts! Amazing but NOT surprising. You are a wonderful person that attracts wonderful things to you! I went to a money management/investing seminar today with my accountant. Networked with some cool people - some turned out to be potential investors, one is into commercial real estate and wants to mentor me on that. And my accountant just started working with notes with another client and was surprised when I brought them up. Said this person is doing really well with them! I think everyone looked at me a little funny though - everyone in the room was at least 25 years older than me - and there I was discussing real estate like a pro hahaha. It was definitely NOT a situation I would have imagined myself in before finding Dean and all I've learned. Every day is something new that builds confidence and takes us closer to great success. What a great journey! Enough babbling....cant wait to see you!
xooxoxoxoxoxoxoxoxox
Laura

LOL!!! I just BUST OUT LAUGHING when I read your reply! I immediately said to myself "THERE ARE NO SMALL BANKS IN NEW YORK CITY!!"..... But saying that maid me think of a couple "smaller" banks. Maybe I do have a shot... and if not - assignees and land trust agreements - hear I come!!

I really like this site everyone is so helpful to one another.
Im happy to become a part of the DG family, I have read profit from
real estate right now. I am really excited about getting started.

Before my last message, I hadn't read your other forums, Now i know that 26th March 09, was not your last Journal entry, you have been active in other cites.Your Monday's Appointment with $1.5 Million Investor must have been good,Good Luck with your WA Investor as well, Hopefully by that time Laura's closing date would be settled too, & you Guys must be having Party, its so good to know, all these Mutual sharings of Concerns, Problems, & Achievements , Every body is so Helpfull & understanding, its a sense of Belonging, like a family thing, its a wonderfull blessing.Good luck with your FSBO deal also.Your advice to Ivanessa89 regarding 5 acres is very valuable, reminding him to go through IIT topic of book, to get real FMV & include cost of removing old building, & include cost of Internet Site also to calculate total cost, so Price to be offered to Buyer is calculated, its all useful learning for everybody.Dawn wrote "Your words are like Heaven"I feel it the same way .I wish before your Skydiving thing in June/July, you may have at least 10 great super deals.Personally I would delay for at least one more year{If i were You}By that time you would have 100 more wellwishers, Puppils, Students, Admirers, who would pray together for your Success & Safety in Skydiving & REI both. All the best, pl; keep up your genuine caring for us all. God bless you & the Family, Warm Regards,Barjinder.

Thanks for all the encouraging words! and congratulations on your accomplishments!!

Laura, you are such a good friend. Always put a boost of positive and joy into my day! That's exciting about the group, and the notes. Yeah, isn't it cool to be doing what some don't find til they are retirement age (wait a minute, what age is that??? lol). look forward to seeing you again!

Rasheem, reading YOUR reply made ME laugh. lol. I love it! Have you had any luck with the banks yet? You know you just need to get out there and do it, right? You will only find what you expect to find. Don't limit yourself. You deserve to succeed!

lvstar01, welcome, welcome!! It's good to have you here. Look forward to hearing more from you.

barjinder, you are so sweet. And thank you very much for the encuraging PMs! I am happy to encourage others as they start out in the REI world, and all of us can be there for support when things get a little scary. Blessings to you! And congrats on taking action!!

Rina

Well, I was looking forward to getting to this point! There is so much REI stuff going on in my life now, there is no way I could take the time to write it all in here! It's cool to know this could be ALL of us, and it is fun to watch the DG family MAKING IT HAPPEN!!

The investor I met the other day is the real deal. I now have my local RE mentor, someone I immediately had great respect for and could feel that "sincerity" in (like Dean). I had met a couple others in the area previously, but just had that wary feeling of their character. You know, your gut instinct. Anyway, he is a short-sale expert (among all the other techniques he uses), and that is what he is focusing on right now. We are already partnering up on a lead I had (but didn't realize). He will do all the talking for now, and I will be like his apprentice. I am SO excited about watching and learning from him. And I have all my connections and positive reputation to bring to the partnership. He of course has the experience of dealing with the homeowners and negotiating with the banks. I think our personalities (and character) are complimentary. He is not pushy at all. And he sincerely wants to help the homeowners. I love that.

My first double-close (that I keep talking about. lol) is set for 1pm on Friday. The lender of my end buyer (niece and nephew), and the title company have assured me I don't need any transitional funding in place. The end $ will cover both transactions. So that is cool. (I WILL breath a little sigh of relief when all the papers are signed and the check in my hand. lol)

Well, it's just a few more days til my WA investor and his wife arrive! I am SO excited! I went to see the suite I booked for them the other day. I wanted to give them the best, so the panoramic deluxe suite on the waterfront. Now I wish "I" was staying with them!! LOL. jk Have a whole list of RE and tourist things lined up. It will be a great 2 days!!

Laura, when you come I hope you can be here long enough to do a few fun things together!!
Kate is talking seriously about having that "girls weekend" in FL this winter, too. I'm all in for that!!

Ope, off track a little there.

I've been wondering if my journal is getting too long and I should close it... I'll have to think about that.

Well, love to all. I'll let you know how Friday goes. Expecting smooth sailing!!

Rina

I think I have the house sold that I've had "on the market". And to a young couple it turns out we know the parents of (good people). Young family with 2 little ones and baby on the way, first-time homebuyers. They are so excited about this house, walking through with all kinds of plans! They have been working with a mortgage broker for several months now to make their credit score stronger and are pre-approved for a loan. It turns out the guy they've been working with is one of my contacts. So I put the call in yesterday and we will work together to make this work for them. They will be getting awesome equity and I'll be profiting $20K. another win/win. I really love this!

OK, that's it for now.

Me

If you close this journal (it does take DAYS to get to the end haha) you better open a new one at the same time! There are those of us that need our daily fix of your accomplishments and wisdom to keep going ya know
Congrats on your new investing buddy! You just keep on rocking - wow. I love it, cuz it keeps me on my toes striving to even come close to your accomplishments!
PS Thanks so much for contacting me about the trim in the house! Must be getting close to done-hooray!!!!!
PPS Sorry I didnt call last night - worked really late and just fell on the couch when I got home.....
much love,
Laura

Thanks for sharing your latest win-win deal with us. It sounds like a great opportunity for everyone involved. Good luck on all your future deals. Believe and Achieve!

You rock Rina! That is so cool how you set up your connection with a hotel and tour.
Did you offer to do that or did he request it? just wondering...
At this rate you may be taking that house from anita as a vacation home;)
I am Real happy for you and all your success. You are a great inspiration to us all.

Not to mention you have become a good friend.

You know hat I am one of your biggest fans and that I admire the way you jump into almost every post and are supportive, kind, informative and caring to everyone seasoned/new alike! There is no-one like you on this site. On behalf of the 'old' members and the new members, Thank You! Thank You! Thank You!

OK, so I took a little trip down the 'Rina Appreciation Road' (had to be done, long overdue)

Now, back to this mortgage broker helping out families to strengthen their credit score and to get pre-approved for a loan. Does he have other families 'in the works' and if he is confident that they are good candidates for you, can he give you their requirements/contact info early so you have time to go and get their dream homes lined up and ready to go?

For the record, (good grief I sound like an attorney!) how did you find this mortgage broker? Craig's List? LOL! If so, please post THAT ad for us!

Love Angela