Rina's DAILY JOURNAL: Chapter One - The Beginning

Do you have knowledge on what course of action to take on a property that is in LP and has a $33,000 Federal Gov't Lien on it for back taxes. The property has been (apparently) abandoned. If this can be gotten for the back taxes, it would be a tremendous advantage. Please offer any advise you have. I would be very appreciative. Thank you in advance.

Tim

Boy, I haven't done one of these, but it would be fun for you to dive into as a possible money-maker, and for sure a learning experience. First of all, is the property in Florida? And where have you gotten your information so far? If you have a RE attorney, I would start by asking him all the questions you have, and go from there. Only thing I can say is, the faster you gather the information to make a move, the better off you are. You may uncover the deal of a lifetime under that layer of dust! Do some more research on the prop this weekend (unless you actually have the home phone# of your attorney! lol), and then get on the horn on Monday.
Good luck, and please share any knowledge you learn from the process!

Rina

P.S. Are you with the Academy? Call them asap too.

Keep the great ideas and the great deals rolling. The DG.com website is so great that everyday you can truly see it is more like a family or a community of neighbors that truly care about each other. You continue to have tremendous ideas and share your knowledge with others. Keep up the good work. It sounds like the multiple deals and the out of state project are keeping you busy and moving forward. We really enjoy reading about all your new adventures. Continued success on all your future deals. Believe and Achieve! Your friends, Joe & Stacey

Thank you. I have since seen on the County Clerk's site that the property has been foreclosed, but nothing seems to be happening. I also saw where the lien from the Federal Gov't is there. I called my RE agent to see what she could find, but she doesn't know what to do unless it is on the MLS. I will try the success academy today, but I didn't think they were available on the weekend. The property is here in Winter Haven and is only about 1.5 miles away. I have no idea as how to go about buying & selling property in another state. I hope B.C. and the others here in the DG community will help me get familiar with that process as well as the Success Academy. Again, thank you for answering me back so soon. I don't know how you people stay up on the journals and the other things here and still have time to do REI!

Tim

Thank you so much for the kind words. I surely appreciate that, and you taking the time to post a note when you yourselves have so much going on!
YES, REI is more exciting now than ever! I actually took yesterday as some down time, and spent it at home, just doing a LITTLE bit of research online and some chatting. lol. My husband and son have a couple weeks off here for hunting and I'm the main cook dontcha know, so been having fun spending time with them. Helped with some community stuff this week, too. BUT one exciting RE thing for me this week (besides all the bank stuff) was our closing on Thursday! I got to put another $48K check in the bank after closing. Woohoo!!

And then of course Dean's birthday surprise on Friday, that so many DGers and the staff have been working on for over a month! (Thanks again to you and Stacey for your huge part!! ) So glad we were able to surprise him! heehee
I know MANNNYYY of the DG Family sent in cards, sounds like he got a TON! So cool, this family/neighborhood of friends. Thank you again to everyone that was a part!! (you know who you are. )

So today is a new day. This is the day that the Lord has made, let us rejoice and be glad in it. I guess that says it all.

God bless and thank you for your friendship,

Rina

Thank you for the thanks. lol. It is certainly my pleasure to help when I can..
The more REI you get to do, the more passionate you will find yourself! SO fun.

Good job on finding the info. I'm thinking your agent SHOULD be able to get you comps on an address even if it's not listed.
I know the Academy will have much more info/suggestions for you, but if you are buying out-of-state I believe you can either do it in your name, start an LLC in that state, or REGISTER a current LLC you have WITH that state. And then the buying process is the same as anywhere. Of course check with an attorney for legal advice.

Have a great weekend, Tim! Looking forward to hearing what you find on Monday!

Rina

WOW RINA YOU ARE A GENIUS THAT WAS A GREAT THOUGHT AND I AM SURE DEAN LOVED THAT GIFT YOU GAVE HIM WHICH IS TO GIVE BACK YOU ARE WONDERFUL AND I HOPE TO MEET YOU ONE DAY IF NOT AT THE TOP BECAUSE I AM COMING!!!

Yes, I will see you at the top!! (and thank you. that was totally a group effort, and lots of fun! )

Hey, I was just reading your profile page. I don't know how far you are from Queens, but you should give Richie (B.C.) a shout. He and Laura have found a couple of good REI Clubs out that way. You might like to join them? Good networking!

Wishing you MUCH success, Cora!
God bless,

Rina

Congratulations on your closing and a profitable deal. You deserve it!

Happy Cooking!

Your friend,

Lea
SPR Property Solutions, LLC

Thank you! Yes, closing days are always a day of celebration. Until the final line is signed it's not a done deal, so I always feel a sense of finality (and relief on some! lol), when that is done. You know how there are deadlines for homework in school, you're working on all the classes at once, but you sort of focus on the next "DUE DATE". Same thing on the deals it seems like. And in the meantime you get new assignments. Actually, to some that might sound like a sickening comparison (HAHA), but I actually LIKED school, so thats' what analogy comes to mind.
Really, I can't wait to be in a position like Matt (and Dean, I'm sure) is, where you have someone ELSE doing the work, even from a distance, and deals are happening as I sleep. Wouldn't THAT be nice. I just have to work more on my team and my system..

Hope all is going well, Lea. I will stop by your journal to see what's up!
Thanks again, friend!

Rina

What a great idea! Paying it forward! You're the bomb for sure! I'm glad Dean's team took the ball and ran with it. The best part is having a "fund" for the first deal. Sure wish that would have been there when I joined the academy...actually, I could still use it! You are such a giver and I am blessed to have you as a friend.
And here's a promise to you...this week I'll be kicking some REI Butt!!!

Love you Rina,
Dawn

Hey girlfriend,
I LOVE LOVE LOVE the acknowledgement and credit that Dean has given you for your Pay It Forward idea. Its takes an extremely special person to have that idea enter their mind and heart - and YOU are that person. I am honored to count you as my friend and RE sister/partner
Love,
me

I'll be watching for the butt-kickin' sis! LOL. You SOOO deserve to get that first deal under your belt! Don't let the "fund" hurdle stop you, sista! We stubborn WI women know how to find a way around obstacles, right?? I have faith in you that where there's a will, there's a way. How about this, I will make you a promise. If YOU get a deal locked up, with an assignment contract, OR a bird-dog agreement, OR your own pre-approval (from whatever source) I will come down there and take you to dinner, and brainstorm and celebrate. Sound like a plan?? (We could do a girls' night at a WI Dells waterpark!!)

Love ya, sis!

Rina

my sweet, sweet friend.. you know how I've been feeling. I love that you are there to confide in and share everything with. Dean is so awesome and kind. It was so fun working with you guys to thank him for all he's done for us. Thank you SOOO much for your spirit and generosity, and I am glad to have you to ride the waves with, sister. Here's to Samoa!
Love always,
me

Sounds like you are finally closing on that home after all the ups and downs with the inspector (we'll call him mr.clueless)!
Im glad to see things are moving well for you. keep it up and you will reach your goals sooner than you think. I enjoy reading your journey in REI, I love seeing my friends become successful and enjoying themselves along the way. I plan on being there soon.
Keep your chin up and enjoy all the good things that you have earned and are blessed with.
good luck my friend.
Richie.
and save me a piece of pie

Finally - my Jersey buyers got their new mtg committment and i will close this flip by the end of next week! Hoorah!
Can you ask the sellers what day the week of the 7th they would like to close?
I figure give the 7th itself for my $ to clear bank - then any day afterwards.
I know they are anxious!
Congrats on your closing today!!!
Love ya!

HAHAHA. Mr. Clueless, I like that! (won't repeat it though. LOL)

Yep, closing on that property went terrific last Thursday. FINALLY put that $48K in the bank! YAY!

Closed on one of our purchases today. Because of complications, we won't be closing on the refi of this property until early next week. That's ok, a few days won't kill me.
Nice thing is I'll be pulling the whole purchase price back out PLUS a few extra thousand! my team has this purchase/refi thing just about down to a science! Love it!

I will have to write a thread listing the steps. Not sure if there's the same opportunity everywhere, but it SURE is working great with the team I've gathered here! (betcha 100 to 1 a person could dig up the same thing anywhere in the country!)

Thanks for the congrats Richie. You don't know how big I will yell when YOU are the one writing about your closing! I'll probably just hop on a plane and come give you and Laura a big fat hug!!

a friend thru & thru,

Rina

P.S. I brought pie but we were all in too much of a hurry. So I had to eat it all when I got home. LOL!

That's great news!! I just asked them today for the 2-week extension for you, and they said "of course". But yes, they will be so glad to be done with all these. The thing is, I know the husband has mixed feelings and hates to see them go, but the wife just wants to be done with them. SO they are happy we (you & I) are taking them, and it definitely is to our benefit as well! So goes opportunity, right!!

Love ya sis!

Rina

Just by reading the journals from the Dean's family I am learning a lot of good stuff. I think I have to put up my own too in the near future....dom

Thanks and yep, I'll be watchin for yours! Good luck with all your REI! Have Fun!!

Rina

Much love and best wishes to all! Don't forget to take time to give thanks and to give back in whatever way you can. The world is a better place because of YOU!

Always,
Rina

Had an awesome Thanksgiving with family! While my daughter headed out this morning at 4am to try her first ever Black Friday (hate that name, sounds depressing) shopping trip, LOL, I am focused on MINE. Gladly I do NOT have to fight past other frantic shoppers for my prizes, though.
While I have been juggling purchases and refis, I have been quietly watching several abandoned/vacant houses in town. Now I plan to get serious about these properties. With winter coming and property taxes just around the corner here in our neck of the woods, I am sensing that the owners of these properties may be feeling a little motivated and probably wouldn't mind getting rid of a headache and having some extra spending money just before Christmas. So, I am off to see what Santa has ready for me and for them.

At the same time I am thinking what I can do to better things for family and community. THINKING of giving our son a "seed" house for investment (a CHEAP one. lol). Don't know if he's ready for that, but we'll decide by Christmas. Also, REALLY thinking about the Operation Free Home project. That's always been in the back of my mind to try here. Maybe 2010 is the year?..

Rina

Glad to hear you had a great thanksgiving Rina, I also was blessed with a great holiday. sometimes holidays make you realize how blessed you really are.
I hope you get some of those vacant properties and fill them with people that will make it their home of dreams.
I share you enthusiasm on being able to join the Operation Free Home project. I know you are way ahead of me on that But it is one of my goals also.

Black Friday uhhhh, You couldn't pay me enough to deal with those crowds. In the end what do you get? maybe 1 item ,because by the time you go for another they a are all gone. god bless your daughter,she must have alot of patience.

god bless friend
Richie.

heehee.
how to relate it to REI - uh, watch out for upside-down short-sale deals?

*****************************************

Oh, thanks Richie! Yep, think I got one! Waiting for a call back, but pretty sure I'll be picking up a SFR for $15K this week, FMV of about $30K, will rent for about $600mo!
And got a nice email today. Appraisal for the refi on one of the $20K purchases came in at $47K!! Woohoo, refi cash comin' our way!

Rina

P.S. Also closed on a SFR last week for $25K, refi this week at $35K, put an ad on Craigslist for a lease/option at $45K, $1500down, $550mo. Have 3 people looking tomorrow! Yeah!!!

Rina. What is Operation Free Home? Maybe I shouldn't have started reading from the last page, but if you could tell me a little more about this I would appreciate it. You sound so busy! You must be one of the most organized people in the DG Family. Glad to hear you had a great Thanksgiving.

Janet

Thank you, Janet! I hope you and yours had a blessed Thanksgiving as well!

Operation Free Home is a program Dean started (I believe in 2007?) where a family in need is placed in a home rent&expense-free for a year to help them get back on their feet. It takes a home that an owner is having a hard time selling/filling, and matches it with a deserving family, while the rent amount is sponsored by local businesses who would be recognized for their contributions toward the project. Really creates a win/win/win situation, and especially at this time of year I think encourages good will toward others.

There is a section here on the site about it under the Real Estate Forums
http://www.deangraziosi.com/forum/8.
Try googling "Operation Free Home" as well. You'll find some cool videos and blogs by Dean about it (even a news interview on the original story!)

I think it's a wonderful idea and plan to try a version of it here in out town. That would definitely take some organizing (which part of REI I don't especially love, although of course very necessary). I honestly think I should hire a secretary/assistant pretty soon. Would leave me more time for the EXCITING parts. lol

Anyway, hope that helped. Thanks for stopping in!

Wishing you all the best!
Rina

Thought I'd add a little detail about finding the owners of the vacant properties I'm looking at.

Just one example: the $15K prop.

I had actually met the owner last summer by chance at this house. It was next door to one we were working on. While they thought about selling at the time, there was not motivation and they had a ton of work to do on the place (plus their son & his friends were living there).
I noticed the last few months now that it has been sitting vacant (and they had done they'd been planning to do!)

So these are the steps I took to contact them.

1) Look up parcel on county website to find owner's name.
2) Search for name and address the tax statement is sent to.
3) out-of-town owner so zabasearch the name to get a phone number (since there is more than one person by that name, match up address)
4) mapquest address to find out how to get there, and how far
5) Called the number to see if it was indeed the right person
Actually got the owner (wife) on the first call!
6) ask if interested in selling the property
7) if yes, how much? Then make my cash offer
since she said "YES!", but needed to talk to hubby, wait one day for call back
9) Call again to follow up
10) If not sure, wait a few days and call back
11) Immediately upon a yes, fill out a purchase agreement and drive to them to sign and finalize

This example was ideal. Often it will not be so easy to find a phone number without paying for it on zabasearch (they had a listed local number), or you may not reach them the first time. I was prepared to drive the 2 hours to go to their address in person. Sometimes if you know the address from the county records, but absolutely cannot get a phone number, you can just start calling people with the same last name in the town. Especially if it is a small town, it will take no time to get a relative who can connect you with who you're looking for (when you are open and sincere with people they trust you enough to give out information).

Rina

Seems like I haven't been in here in ages! Could just be the age thing too! LOL!
I'd love to brainstorm with ya but it may be a little "chilly" for the water park!
I have some great news too...well it could be anyway! I'll post it in my journal for you to peek at.

It sounds like you've been feeling a little blue? I hope it's not serious, you're just too special to be feeling down. It's hard for me to imagine that! I'm here if you need me too. Love ya Rina,

Dawn

Congrats on your news! Just read the journal. Ope! Just realized that if you get that locked up, I might be headed down there soon?? And you silly girl, I meant one of the ginormous INDOOR waterparks! lol. WI Dells has the largest in the world! SOOOO fun! I'll bring the girls with! (they will love you for it!)

Thanks, sis, for the encouragement. Doin' A-ok. (we all have our days right? good thing they don't last long..)

Here's to you gettin' that first deal!!!

Rina

I am new to this site I just order his books