Rina's DAILY JOURNAL: Chapter One - The Beginning

Pretty soon we'll have to let everybody know that we're having twins.
Talk to you soon!! Love ya!!

me

Hey cbr!
I understand that you didn't just wake up one day and tell yourself, "I'm going to become a successful real estate investor today" and it happened! Right?!
Well, in 1979 , I (keyword here, I ) made plans for myself to become successful in REI'ing (I didn't ask God what HE had planned for me). Then this thing called 'LIFE' happened. (marriage, six daughters, divorce, etc...)
I haven't spent the ENTIRE 30 years 'sitting on my couch waiting for the deal of a lifetime to fall in my lap', but the end results have been the same. I don't regret the life He has allowed me to live to this point.
TODAY, AT 50 yrs. YOUNG, He has been merciful to endow me with a (halfway) sane mind, a healthy body, beautiful, healthy children, and AT LEAST A MILLION GIGABYTES of personal memories and experiences from which to draw to launch my 'new life' as a successful RE investor. He has taken away all of my EXCUSES and is allowing me to begin a new VOLUME (not page or chapter; VOLUME ) in my life.
I wrote all THAT to write THIS:
I am SOOO GRATEFUL that you, and EVERYONE ELSE ON THIS SITE, are here to share with each other our successes and 'lessons learned' (NOT failures) to help all of us to succeed TOGETHER.
I have been reading what EVERYONE is writing in the blogs and forums and that 'couch' keeps getting more UNCOMFORTABLE by the SECOND!
Thanx again to you and ALL my new DG family.
Sincerely (and I MEAN THAT! ),
Jeff

Of my six 'gifts from God', (daughters), numbers 4 and 5 were TWINS! (they are now 20 y/o! )
I am so happy for you. But I will remind you now that along with all the joys of that great miracle also come the expenses. Believe me, it really IS WORTH IT! With the way prices are today, you're going to have to flip about, oh, ONE PROPERTY A WEEK just to keep up!!!
I am SO HAPPY to read your news. (I love this site.)
Reading that just put a HUGE shot of JOY into my day.
Thank you.
Jeff

LOL! Oh, no, I'm glad you said something!!! I meant something more REI-related! LOL! Sorry for being misleading! But NOOOOO, neither one of us is having any babies! I've already started on grandkids, and I don't think Laura and Steve have anything in the works (??).
Boy, that post was probably not smart of me to put in! LOL. Thanks for saying what others may have been thinking!
Good to have you here, bud!!!!!! And again, that is SO awesome having such a big beautiful family. NOW you owe yourself some AWESOME REI R&R!!

Rina

TWIN REI DEALS!!! That's GREAT, TOO!!! At least with proprties, (not children) rehab is a bit easier to handle!
I'm havin' a BLAST gettin' to know all of my new family here!
CONGRATS, grandma! I have 3 g-DAUGHTERS and ONE g-son. FINALLY! A boy in there SOMEWHERE!
Have a GREAT day!
Jeff

Hey Jeff and Rina,
those last few posts from the twin comment are soooo funny Jeff, I also have grown kids - 2 sons who are 24 and 23....and no more in my future either - waitin for grandkids haha. Thanks to another assignment to me from Rina we have twin side by side houses

ok, I am having a bad day. I shouldn't even put this in here, and it's no big deal, but thought I'd vent in my journal. lol
Have a terrible cold (which will be gone by tonight!), and the plumbers are still dragging their feet. Passed a closing by a week & a half now. Can't close til they're done, and re-inspection. Poor buyers are out there doing things at the property, just WAITING to close so they can move in (cost them an extra month at their apt too). Even though we've done business with these guys for years, and they are usually right on the ball, this is very irritating (it's been almost 3 weeks!) hmm... i'm sure i'll feel more forgiving once it's done..

Looking forward to the REIA meeting tomorrow night. just got an automated call reminder and update on the meeting. Thought that was a really neat touch. I really like that club.

Oh, Laura, I almost forgot to email that contract! I'll do that now.

Dear Rina,
I have been reading your daily journal from time to time and I wanted to reply to the discussion you had with Jeff and Laura. I have 8 children ages 39 to 13. My daughter (13) is the last one left at home. I have had a tremendous time with all my children and I feel that God has blessed me greatly with each one. I now have 6 grand children and I love each one too. Life has been very good and also very bad in some instances. It gives me little comfort when someone says, "God only gives us what he knows we can handle." My second wife died in 2005 and my oldest daughter was abducted a year ago and we have not found her yet. BUT!!! I am determined to move on ahead and my daughter (the one at home)helps very much in that stead. You are an inspiration to me along with Matt and Greg and others. I surely appreciate all the encouragement that this entire group of wonderful people feed us all each day. Additionally, all the help, encouragement, tools, etc on and on from Dean.
I pray you will be feeling better very soon and back on top. Sometimes knowing others are struggling and coping is also an encouragement. It is knowing that we are all in similar "boats" in our individual lives. Keep on keeping on and you will surely get through this issue. Sometimes that is what it takes to prepare us for the next push of progress. May God bless you!

Tim

You just put my day back into perspective.. And your daughter is now TOP, TOP, TOP on my prayer list! I am so sorry.
Thank you for the encouraging words. And yes, children (and grandchildren) are so precious, a most precious gift. I think they are my biggest motivation in my REI.
Again, thank you, and God bless you and your family. NOTHING is impossible for those who believe.

a friend,

Rina

Tim, my goodness, your determination to overcome what you have gone through and are still going through, really puts things into perspective. I too will say a prayer for your daughter and family.

Rina, glad to hear you are coming tomorrow, sorry about the cold. Will be bringing hand sanitizer along so as not to catch it! We need to take good notes for Louisa who is looking at using her IRA to fund a deal. See you tomorrow.

Cathy

Yep, just talked to Tonia, too. Sounds like we're meeting for dinner again beforehand. Looking forward to it. I've caught a couple of your posts about your new deals in the works. Sounds really promising. It will be fun to catch up. See ya then!

Rina

Dear Rina & Cathy,

Thank you so much for your prayers for Corrie. If you would like to visit her website, it is: www.findcorrie.com . I envy the relationship you two have working together. I hope to find someone in Winter Haven or Lakeland that wants to work together too. May God bless you both and make you succeed beyond your wildest dreams. He owns the cattle on a thousand hills!

Tim

I will keep Corrie, you & your family in my prayers. Thank you for sharing her website.

Wish we lived closer, we are in Port St. Lucie.

Take care,

Lea
SPR Property Solutions, LLC

I know that modern technology is unbelievable,but i could not see physically how you and laura would have twins LOL!!! That was sooo funny that i was lmao
. Good luck on the TWINS! Two of my best friends in my DG family doing amazin things. I hope Laura and I can get on a roll here as well.
And Rina, I asked for a bird dog fee on that home in Florida. waiting to hear back from Connies assistant. I have the name of the agent that is selling it and the details on the property and what they will accept.On Sat I sat and spoke to the owner.

Tim, I am so sorry to hear about your daughters obduction. I will keep your family in my prayers.That is my biggest fear in Life. god bless.

LOL - what did you do post a 20 year old picture? I did want to tell you that I check out your blog daily as a way to keep myself in line as well as posing in mine. You are an inspiration and try so hard to keep everyone eles positive - trust me we appreciate that.

Tim - you are in my thoughts as well. I hope that there is an answer for you someday soon.

I am so sorry you are feeling under the weather! I had no idea...I hope that tomorrow turns everything around with your health and your plumbers! Get a goods night sleep and start a fresh new day tomorrow. And Tim - my prayers are with you and your family. Your strength and courage is incredible.

You have the whole DG family praying for her now. We're believing with you..

As far as your REI, maybe your 13-yr-old can be your junior partner. I know my daughter enjoys REI with me. Trying not to push my kids, but I know that every one of them is anxious to get going on their own REI stuff, in one form or another.

Trish, thank you for the awesome compliment! I hope to stay young at heart, and if you think I look 23 in that pic, then YAY! (was from last fall)

Richie, great job on the bird-dog request!

Rina

I answered an ad on Craigslist this morning for two props that already are great cash-flow props (2 for one price, currently rented at just under $1400 together). It has been interesting so far. Thought I'd share the conversation as an example.

____________________________________________________________________________

Hello.
If I would pay your full asking price and $80K at closing in 30days, would you consider taking payments on a promissory note for the balance of the $20K for 1-2 years?
Thank you for your consideration.

Rina

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I don’t want to overcharge you, Rina. Just talk to a local lender (I use ****, and they’ve been extremely flexible). Thanks for your interest.

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Hi Jim (?),

I think that was a polite "no", but thought I'd make sure. (smile)
I'm looking to pick up some more investment properties, and am working with a great product at ***** *******, but don't necessarily want to put out the 20% down in cash. If your properties can appraise at your asking, I'd be more than willing to pay you full price if you would consider carrying a note short-term. If not, that's ok too. I would still like to look at them if you don't mind.

Thanks,

Rina

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I am SO sorry for calling you Jim. Is it *******? I had you confused with someone else I was thinking of, but just checked the tax roll on your properties. Anyway, I do apologize. Would love to hear back from you at your convenience.

Thank you,

Rina

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No worries, Rina! I was just playing the piano downstairs and enjoying morning coffe, so that’s the only thing accounting for a delay in response.

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It was more like a cautious yes, Rina, given the variety of people I meet on here. (smile)

These two houses will definitely appraise for their asking price, they actually appraised for $120,000 through ******** two years ago.

I do the same kind of investment at ******* *****, but they allow me to use hypothetical equity in other properties to make the 20% down payments. While I can’t carry a note, would an arrangement like that suit you? I wish I had the flexibility to make on the exposure of promissory notes, but I’m a pretty small potatoes investor.

Either way, we can certainly tour the properties at your convenience. I’m also wondering if we may have met at a showing at my house on *******, but that might have been someone else.

Enjoy your day,

*********

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Actually, in thinking more about your financing idea -- given that it’s handled through ****** (who I have accounts with) -- the idea might have promise. Let’s definitely talk more at your convenience.

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[Note: this one overlapped with his email above, darn it. Wish I’d have seen that one before I answered again. lol]

Hi *****.
Yes, I think we did meet at your *** **** house. Enjoyed talking with you.
Aw, sounds like a nice morning, coffee and playing the piano. (forgot those smileys were in here)

Yes, I would like to look at the properties. Did I notice you have others for sale too? And yes, I have equity in other properties I could use, if ***** ***** is still doing that?
Let me know when would be a good time for you. I will be out of town pretty much all this week except for Thursday afternoon and evening. Then back again Tuesday morning. Pretty much free all next week.

Talk soon,

Rina
***-***-*****

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END OF EMAILS

Anyway, we now have it set up I'm looking at these 2, and 4 more that he has. Pretty excited for the possibilities cause they are all in decent neighborhoods and cash-flow. He even said he'll give a 10% discount on TOP of that. And if I wouldn't have been looking on Craigslist this morning or afraid to respond, I might have missed out. (taking a chance on sharing this. don't wanna jinx it. lol)

Hope everyone has a GREAT day!!

Rina

Rina, In a sentence or two, how do you personally do research for properties in other areas...cities/states/etc. What are your resources? MLS,Craigs List,Ads on Dean's site...just what are your resources for finding properties.
Thanks in advance, Rick in georgia

Actually, all of the above, and more..
I use the MLS of course, because you can look at all the listings and follow them from some the RE Company websites (my favorite is still Remax). Same with Craigslist, but that's even more intimate because you are mostly contacting owners directly, and can end up with some great investor connections in whatever area you are looking at. And of course you can call on/research online other types of properties (foreclosures, tax sales, etc.) by contacting the county courthouse of wherever you are looking. There really is no geographical boundaries until you pinpoint a property that you want to actually see in person. But then you just use "boots on the ground" to do that for you if you can't go yourself. I do most of my initial research (even on local properties) online, so like I said, no boundaries really. PLUS, you can even drive through a neighborhood using Google Earth Street View! PRETTY cool!

Rina

Well, as a result of my Craigslist shopping this morning, I am getting prepared to possibly have 5 more properties on my to-buy list. I called the bank to give them a heads-up. I think she is a little overwhelmed because I just brought her those 4 on Friday (and I didn't tell her I have 4 more PAs to bring in already!).
When I mentioned the 5 more, and asked if she was still sure there was no limit on using that loan product she laughed a little nervously and said, we-elll I'd better find out. I said that would be great to know for sure, because I didn't want anything to hold me up (lol) so just wanted to be prepared if I needed to re-plan. She's so sweet, said she'd find out right away.
I have been thinking that I should meet with the Board of that bank to see if they will create a loan product specifically for what I need. They don't currently do "commercial" loans per say, but I think they'd be open to talking. It's so nice being able to work with local people. I actually brought one of my home-made pies to closing last time, and we all snacked and laughed after we signed papers. FUN!

Well, I'm off to see if the how the plumbers are doing. Maybe I need to bribe them instead of threatening. LOL. jk, I don't threaten..

Rina

After reading that, I can't believe I was afraid to even go INTO the bank VPs office last year! Wow, amazing what the DG family can do for you..

I sooo enjoy dropping in on your journal Rina. Thanks so much for keeping this going, your such an inspiration to ALL of us...

Barbara

Thanks for stopping by, and for the kind words. I just went to visit you in your journal. Sounds like some good stuff going on! Congrats, and hope to hear more as you travel forward!

Rina

Well, got to go to another incredible REIA meeting last night in the Twin Cities. Met up with Tonia, Cathy, and Nathan Biggar. It was really great getting together. I was wondering if there would be as many in attendance this month compared to last (my FIRST time going). Since they had a special nationally-known speaker there last month, I thought maybe that is why they had a full house (over 200). That is not the case. The room was packed again last night. The networking and teaching/sharing in that place is fantastic. Talk about people making connections and working together! The main topic (and guest speaker) was self-directing IRAs and other retirement accounts in the area of Real Estate. Basically you can do anything, I mean ANYTHING, that we do as investors within that IRA to make insane growth in your fund. There are some rules to follow, and you can't in any way gain from any of the growth before you retire (without penalty), but if you want to build a fortune for your retirement, this is positively the way to go! I think (hope) Cathy and Tonia were going to post some specifics in the forums. (They took really good notes. )

More excited than ever, and so glad to have friends to share it with!

Rina

(Tonia, my cheeks hurt from laughing so much on the way home. Ahhh, REI is good for the soul. I'll fill you in when I'm done looking at "crabby guy"s house today. I'll give you the address in case you have to come looking for me. Yikes!)

My gosh! 4 more since last Friday? Where have I been? Not here and I have missed out on so much of YOUR good news...the twins thing was funny! I'm feeling a little selfish at this point. I'm so sorry I haven't been in here. The good news is, even though I have no takers on the MILW props, I have added a couple more buyers to my list! That's cool huh? Keep in touch and forgive me for not stopping in! I should ask the same of Laura, boy oh boy!

Love ya,
Dawn

Rina, girlfriend, you are cwaaaaaazy. My head is spinning just thinking of all the props you are working on. I need some banking advice from you for SURE. Dang xoxoxooxoxox

Sounds like you found a great REI club. That is awsome, do those people know what they are getting into with you? You will run them to the ground lol. The energizer bunny can't even keep up with you. congrats on the properties, You deserve all the success that comes your way and then some.
and yes i will try to put more pics on fb.
Richie.

I appreciate all the prayers for Corrie. Also I am glad to hear from Lea in Port St. Lucie. I have 8 children and 6 grand children to far. I don't get to see them very often because of the lack of funds currently, but that is about to change. I am so blessed to read all the comments in your journal Rina. They have been a real encouragement. I just started my journal today. You and Indiana Joe have really inspired me. If you get the chance, maybe yall can take a look. Keep it up Rina. You are movin' on.

Hey, Laura, Richie! Thanks for stopping in. Fun watching you guys continuing to move ahead! Great to share in the excitement, and thanks for the motivation!

Tim, your family comes to my mind each day, and when it does I say a little prayer for you. Thank you for the encouragement. I am going to check out your journal tonight to see how things are going. Hope you are all well!

God bless,

Rina