Rina's DAILY JOURNAL: Chapter One - The Beginning

I am excited because I have read Dean's book from cover to cover and I was visioning doing deals as I read.My position is this. My credit score is not great but because I have read and understand that I will not be a road block for me I just need to know what path to take to getting in action?

Well, I got to be with someone today as they experienced their first Sheriff's sale purchase (sight-unseen). FUN! While these can be risky, they ARE exciting (sorta like seeing what prize you got in the crackerjack box).
Anyway, this was a new investor acquaintance that I made this week. Decided to drive the 2 1/2 hrs to meet up with him and talk shop (I will be wholesaling for him and he is willing to back some deals for me). So I met up with him at their county sheriff's sale t his morning. He had done the research on the property. Just so much was owing, but there was a second of $55K, which he said would be wiped out if he purchased off the first (that had foreclosed). Anyway, in this particular county and state you have to bring the FULL AMOUNT in cashier's checks TO THE AUCTION (here in WI, you only need 10% the day of). The lady that represented the mortgage holder said that in the 5 years of doing this, this is only the SECOND sale she has seen (with needing the full amount in cash, I can see why!). PLUS now there is a 6-month redemption period. But because the house was vacant, he can petition to get that reduced to 6 weeks. Also, he intends to find the owners and seek a quit-claim deed. might offer them a little something for expediting the process.
Well, after the sale, we sat and talked with the sheriff and the other reps for quite awhile (VERY small-town). It was really fun (similar to our at home, but with chairs. lol). And then, with the sheriff's blessing, we headed over to see his new "prize". Had to drill the lock (my first breaking & enter) and then go into the below-zero frozen house for the first time (he couldn't even see in the windows the day he had stopped there to look around). You never know what you'll find at these, but he got a real prize. FUN, FUN! We looked through the discarded mail for a clue as to the owner's current whereabouts, and came up with a local address for a relative. Should be able to track them down. While he put a new lock on, I asked questions and learned a ton about how HE invests. MUCH about subject-tos (sometimes 8-DEEP, he said!!), and how to present a seller-finance option (he uses a 3-tiered offer. reminds me of what I did the other day).

THEN, after all that, I got to go meet a wonderful DG family for lunch at their church. It was so nice meeting Andrew and his wife and his beautiful little girls!! And the church ladies make the most AWESOME lunch (more like dinner!). Then I got to go tour his most current REI purchase (turned into a beautiful, unique shop, and a 3+bdrm apt). FUN!

Drove the 2 1/2 hrs home, got into town JUST as the snowstorm started. Whew.

now I'm gonna make fudge. LOL (and I won't eat it.. maybe)

That's my day. Love those kind!

Rina

Here's a few links to info on the one from last year. not sure when this year's will be, but I bet it will be even more FANTASTIC than 2009, knowing Dean!

http://www.deangraziosi.com/real-estate-forums/everything-else/20253/edg...
http://www.deangraziosi.com/real-estate-forums/everything-else/19702/edg...
http://www.deangraziosi.com/real-estate-forums/everything-else/13747/dea...

Rina

P.S. This event is also what the EDGE home kit was created from. It was definitely a highlight of the year!

Hello. Congratulations in finishing the book and in being part of the DG Family! Can I ask which book it was? If it was "Profit From Real Estate Right Now", you can just start following the steps that Dean and Matt laid out in the book.
And if you haven't watched Dean's blog from this week, with Jeff Jensen, you will want to do that. They tell exactly how to get started with step #1.
http://www.deangraziosi.com/content/weekly-video-blog-54

Wishing you well on your action steps in your REI. Above all, you've got to just take action. That is the only sure way to get the results you want. And sounds like you're ready to get started. Have fun!

Rina

Rina wrote:

Angela,
I'll be expecting a call sometime this week to catch up (or else I'm gonna text you! ), and hope to keep in touch with all your progress . God bless you, sister.
Rina

HA!

You just made my day! Made me laugh out loud!

As you well know, I do not even let my own children text me! I am not kidding!

So, I will be calling you this weekend! Count on it!

God bless you right back!

Love Angela

First, Angela, you might want to wait til Monday to call. I'm spending the weekend out-of-town with my hubby. (unless you call me during the night tonight. I'll be driving 8 hours thru the night to get there and could use some conversation to keep me awake)

Here's a story for ya. I had to laugh. This just goes to show HOW MUCH fun it is DOING REI! I had a closing this morning, and after signing all the paperwork and chatting about some deals coming up, I actually walked out the door before I realized both the bank rep and myself had forgotten all about the $33,000 check! So I went back in and said "I think we forgot something. ;-)". Needless to say, we both felt a little stupid. lol. So, it was issued and I smiled all the way to my OTHER bank to deposit it.

Just catching up on your journal and congrats on your closing today!! That's awesome!! (And funny story on forgetting the check! HA!!)

As far as your Edge links above ---Thank you so much for sharing those! I had so much fun reading all of those threads and seeing pics, etc....all from before I was here on the site!

You know it was Dean's Edge emails that really brought me here! After getting his books a couple years ago and then going through some life changes (work, marriage, moving), I stayed on his email list (although I must admit I was not the avid reader of them when I was in the midst of all those life changes)...but I knew I wanted to stay on, because I knew that "some day" I wanted to come back to it and knew that Dean's techniques and teaching were the real deal, and that I shouldn't stay away too long. So after missing many reads of many of his emails, I followed his Blitzkrieg emails and opened every one. I didn't even know what this "Edge" was he was talking about, but I knew I should be paying attention. I still hadn't gotten involved on the site, but I bought the Edge videos, and immediately got hooked on the site shortly thereafter! And once I saw the videos I thought "Wow, Dean had a conference?! Wow, how did I miss THIS??!!" and I'm not going to miss another one of his emails or blogs again! And now here I am, addicted to this site HA!

So when I saw in your blog the other day that you've posted all these awesome links to "The Edge Development" I had so much fun reading those, and it makes me so excited about the coming year!! I imagine a lot of people are pumped too and I just hope I get in!! I'm setting aside money from my deals for his conference and I CAN'T WAIT!

Thanks for helping me and all of us get pumped a mere few months out!! I just can't wait for the announcement of the next one!

Congrats again on your closing! Thank you for all your encouragement and support. Have a ball this weekend with your hubby!! Hope you are also enjoying this holiday season and all the joy that accompanies it!

Cheers!
Louisa
p.s. sorry I'm so long-winded...not trying to add another 5 pages to your journal...ha!!

This sounds like the type of day I strive to create for myself. I like the freedom you are allowed from being a successful REI. You go places and you meet like minded individuals and make money while you do it.

With a stress free life-style such as this you will stay young for a long time!! LOL
Keep up the good work I am going to continue to need some to imulate.

Best Regards,
Shane

I ditto what Shane said.

Rina,

Thanks for your support and guidance in helping us newbies chase our dreams! It is our hope that my wife and I can come to meet you and other DG members.

Rick

Hope everyone had a GREAT weekend!

Shane - Thank you for the encouragement, friend. Yes, I sure love the freedom that REI gives, AND the variety that goes with it. "Closing days" are, of course, my favorite. I like the feeling of that deal/property being released from my mind so I can focus on the next ones (whether I'm buying, selling, or refinancing). I will especially like the freedom when my cash base is big enough to not have to juggle the refis to cover the money aspect. I like excitement, but I love feeling comfortable. I have put myself in MANY uncomfortable positions to reach that goal. LOL. I wish the same for you, and I know with the determination you have, you could easily pass me in short order. Let's use the great like-mindedness and support here on DG.com to push each other to our dreams. There is nothing like it! (And, hey, staying young sounds great, too! lol)

Rick - It is so fun to share experiences as they happen. Lets a person relive them, and I LOVE learning from "watching" others. It's awesome chasing our dreams together. I am enjoying the RE race between you guys. Wish you the best of luck in that! You are making great strides!
I have enjoyed meeting every DG family I've had the honor of so far. Look forward to meeting your and your wife at the EDGE event perhaps?

Louisa - You can leave as many pages as you want in here! lol. I love reading your stuff. SO exciting following your progress in your journal. You are encountering and conquering new obstacles every day, and helping so many along the way! I am SOOO glad you got pulled back into DG.com when you did. Sorry you missed the EDGE last year, but it will be a highlight for me to meet you this year and get to tell you thank you in person for being such a support to me and so many others. I have never heard a negative comment out of your mouth here, and that's so important. Congratulations again on all your success so far, and thank you again for all your encouragement!

God bless!

Rina

I'm still in Michigan, but got a call saying there is water spraying under one of the houses. A pipe must have froze and burst. Furnace is blowing air, but NOT hot air. Well, that explains it..
This is a common problem in northern WI during below zero weather when a house in unoccupied, which is why I am always in a hurry to get rehabs completed and people in. This one is actually already "sold" on a lease/option, and the painters were finishing up today. The plumbers took just WAY too long to get at the project of getting it ready. Understandable they are swamped with "feeze-ups" that they're dealing with now, but I'm thinking I need to add at least one more (if not 2) plumbing outfit to my contacts to keep the projects wunning smoothly.
Well, good thing I can do my part from 8 hours away. I will let them deal with it now, and enjoy my day.

The weekend was great. Jon and I drove across the Mackinac Bridge, did some shopping, took a ferry ride, had a great dinner out, also went to Sault St. Marie, saw the locks, went across the bridge to Canada, almost didn't get back into U.S. (no passports or birth certificates. oops), saw some beautiful waterfalls, Lake Michigan, Lake Superior (which looks the same as at home), and took pics of a bunch of properties for sale (to do some research on today).

Jon is working today, so I'm just doing a bunch of research online and then going sight-seeing.

OH, I got to see a beautiful wolf on the way here the other day. Ran right across the road in front of me. I guess the locals say there are WAY too many now, and they are really posing a problem, but they sure are a beautiful animal, so it was fun seeing one in the wild. We have them at home, but you never see them, just their prints.

Rina

Got a call from the bank today. The Board voted to raise the in-house interest rates. Investment loans will go up from 5.5% to 6.25% starting this week on any "new" loans. Wow, SO glad I got in as many as I could with the 5.5%!

Time to get even BETTER deals so this will not affect my cash-flow on new properties.

Think I'll start calling other banks, too, to see if any offer a lower rate. Might be time to ask again about the commercial loans. Don't want to let this hold me up. lol

Got great news on one I'll be closing on this week. Closing for purchase on Friday at $65K. Refi next week. Got the appraisal amount from the bank today. It came in at $185,000!!! Woohoo!! Now, this is a special purchase because it is through family, and we have a special purpose for the refi funds, but this appraisal tells me two things. One, (YAY!!!) that will be a huge chunk for it's designated purpose and two, values are definitely going UP here!!! Exciting info for any flips we end up doing!

Excited as always.

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

On another, more somber note, I have an RE friend who is feeling very down. Also have a friend who lost his wife on Friday (after a long battle with cancer). I think at Christmastime the lows sometimes hit us more. We REALLY have to do what Dean said in today's blog and really, really count our blessings in what we have. I MOST DEFINITELY know what it feels like to be discouraged and have nothing, but I think with friends to hold you up and being willing to NEVER let things get the best of you, you will ALWAYS have a brighter future. Here's to all that are feeling weary today. Blessings on you, and a great big heart-felt hug from everyone in here. We are all in this thing together! Please be in prayer with me for these two great men..

Thank you,

Rina

I will keep your 2 friends in my prayers. I make it a point to thank God for my blessings every day and pray for family & friends. You are right losing someone this time of the year is a tough one (Denny's Mom lost her life to Alzheimer's last Dec 19th.)

Interesting about the interest rates changing, I'm interested in hearing what the other banks say to you. Liked your comment about getting even BETTER deals You go girl!

Glad to hear your happy news about your upcoming closing!! Congratulations

Lea
SPR Property Solutions, LLC

As always, when I'm away for a bit it takes me a long time to catch up your journal...there were 50 new posts since I read it last haha.
Firstly, I will definitely keep your friends in my prayers. Holiday times are especially hard when associated with loss and sadness.
Secondly...I'm so happy the closing on Grand Ave finally happened today!! Yeeha. The sellers have mailed me the prorated rent, deposit $ and payment schedule. As my property mgr we will talk soon and set up how we want to handle future rent collection and distribution!
Thirdly..how do you manage to close on a house one week and refi the NEXT?
Did your bank always work that quickly with you, or is that because they know you and trust you? You mentioned once Wisc. has a 2 year rental history requirement before refi is possible, right? That would mean I cant refi either of my property there for two years?
Anyway.....much congrats on all you do and its super fun partnering with you on deals sister
Much love!
me

Oh, I wish I had read your post on Friday, I would have called and kept you awake. My own fault for not checking in often enough!

Clearly, you did not fall asleep and had a wonderful weekend!

It is SO inspirational to me, and others I am sure, to see that you can get away and do such fun things and have such wonderful experiences knowing that RE investing has provided you with the freedom, the opportunity and the $$ to do so!

Hmmm, I might have to start a campaign to make you think twice about closing this thread!

Angela

... of course, I will be keeping those 2 friends of yours, you and your family and anyone else who needs it in my prayers too!

Angela

Rina,
Congrats on your recent success in real estate. Your success helps to keep me motivated! I want to let you know that I'm working hard on making this a "real realty reality!" Chow.

Laura, I m telling ya she dazzles them with her baking
being serious, I would love to hear how she does it too. But like you said, Rina has built a great relationship with her bank and has a solid rep with them, I am figuring that takes her a long way and gives them confidence to take chances AND BE CREATIVE with her.
But she has earned it with all the hard work she puts in.
Personally,Like you I would trust Rina with anything.

good luck to both of you.
Richie.

Thanks all, for the prayers. I know the first friend is doing much better.
And the family of the other is hanging in there and thanking God for the time they had with Kari, and that she is no longer suffering...

Lea, I will be thinking of you and Denny tomorrow, as I'm sure it will bring back memories (hopefully LOTS of WONDERFUL ones). The closing went well today. Thanks! We are now the owners of another nearly new side-by-side duplex, and have taken a load off a family member and allowed them freedom and peace of mind. (Refi next Tuesday will be like winning the lottery for everyone involved. There will be a lot of smiles this Christmas/winter!)

Laura ~ YAYYYY!!! on the closings (NJ & WI!). We finally have our twins! now on the refi question, the 2-year thing is just with the product and specific to the bank that I'm using. It isn't on the "property", it is on the "owner". A persons just need to have 2 years' experience owning rental properties. As far as HOW I'm doing it, it's a pretty sweet set-up we have. Here's a post on just how we go about it. (Can't wait for you to come visit!)
http://www.deangraziosi.com/real-estate-forums/financing-and-credit/3536...

Angela ~ Thank you for thinking of me. I actually DID fall asleep on the trip (but I pulled off the road to do it. ). I also missed a turn (signs were plastered with snow) which cost me an extra 40 miles or so. Oh, well. I did eventually make it and had a WONDERFUL time (5 days)!! And yes, I LOVE having the freedom now to make such trips and decide to stay an extra day if I want. Hope to hear from you soon friend!

Dave ~ How's the realty "reality show" going? I've gotta go check out your journal (along with Rick's and Alex's) to see how you guys are doing! Glad to hear you're working hard! You won't be dissapointed!

Richie ~ Yes, hard work and determination. And I also think a little luck and a whole lot of positive go a long way, too! Good to see you so spunky!

Best wishes to all! (Think I'll do a different post for an update).

Rina

Closing went well today. Refi next week will be the start of a great thing. Combine 200% equity cash, monthly cash-flow, peace of mind for the sellers and freedom and opportunity to ENJOY what they've worked to hard for, gee so many positives I can't even think of them all. Once again, all due to what I've learned from Dean. I SO appreciate knowing now how to leverage EVERYTHING in RE to work toward goals (no matter what goals we set!).

The lady who is selling the $15K SFR today gave me permission to change the locks tomorrow. Her son (who has sadly taken advantage of them for years) still has not dropped the key off at her friend's house for me to pickup. She is afraid he is once again trying to mess things up for them (it was him and his buddies who had "trashed" the place last year while they let him live there for free, making it the only "iffy" residence in the neighborhood) and she is a couple hours away, so doesn't have much control over it. I asked her to email me permission to change the locks. She said "Just do it!". So now with her official email in hand, that is what we will do in the morning. And get on with the purchase.

Came across another foreclosure opportunity by chance today. Stopped to pay one of the ladies that painted a house for me while I was gone, and she told me about a new home just down the block that has gone into foreclosure. It was listed at $185K, and the owners had eventually said they would take $135K. I'm guessing that must have been what they owed, but I'll have to check into it. It is set to go to auction in 2 months, they said. They tried to buy the house but didn't qualify because they had missed two payments on their previous home, but they should qualify again within a few months. I'll see what I can do.

Looking forward to being with all of our kids (and little grandson!) next week! Wishing all the DG Family a blessed time with family and loved ones!!

Rina

Thanks for the link above regarding refi's. I had read that before, but didnt bookmark it. So I did now and will read it again later....soooo happy to be finished with the Jersey and Wisconsin closings. Felt like they were a long time coming Cant wait to come out and see you and my new property in the spring!
Richie - I think you may have discovered the key to her success lol! But if thats true I'm doomed - even dogs dont eat the things I try to bake
Enjoy your holidays!!!!!
xoxooxxooxoox
Laura

From my Family to yours Rina we just wanted to personally wish you and yours a Merry Christmas on this special day. Having people on this site who care enough to help others reach their goals even if its through the motivating words that you bless the population with is enough to be Merry for in it self.

Best Regards,
Shane

Shane ~ Thank you so much for all the warm wishes. I hope you and your family had the Merriest of Christmases and are gearing up for a most awesome New Year!

Laura ~ YOU TOO, girlfriend! Can't wait to see you in the Spring!

Rina

(P.S. Been hard to get online with someone home. )

at least 20 RE transactions, $10K a month cash-flow, $2,010,000.00 net worth
by the end of 2010.

1) More time with family
2) Help as many people as I can reach THEIR goals
3) Offer more lease/options to my renters
4) Have another grandchild or two. LOL
5) See as many DG Family as I can at EDGE 2010

I will be adding to the list.

God bless everyone in 2010!!

Rina

I been reading your jounral tonight thanks for the motivation to keep on going
I been running to the wall and the wall is winning. but I just started in the success acad. so this will help me. but reading your journal has really helped
me.hopeful some day I can meet and talk to you.
thank you and you will have a good 2010 year!!!!!!
Steve G.

Thanks for stopping by. Don't let that wall win! You can do it! Especially with the help of the Success Academy coaches.
Wishing you much confidence and awesome success in 2010!!! I'll be here cheering for you!!

Rina

Feels like years since I've been onsite! Wishing you all the success in your incredible goals you posted - I know you will accomplish them all! Gonna be a break out year on many levels girlfriend! xooxxoox me

Hello Rina!
I am stopping in to wish you a happy new yr!
I hope all your goals come true this yr. You deserve it!
Now that the holidays are behind us I can go back to focusing on REI.
I hope to make this yr a great one and to make it to the edge this yr so i can learn even more from all of you first hand. definatley want to meet everyone too lol, just that my main goal is to get the knowledge.
Talk to ya soon my friend, god bless
Richie.

For the past 3 hours I have looked at your Daily Journal and all the responses from the people who have either helped or have gotten help from you. Its utterly amazing!

I just want to say thank you for being as giving and passionate as you are about RE and helping others make a change in there life with it. I read that you were thinking of closing the Daily Journal soon and change is inevitable, but I know anything that you continue to write on here will further help people in taking the first step of TAKING ACTION.

Thank You! GOD BLESS!