MiKessler Daily Investing Journal

Well I'm having a hard time right now. I'm picking up another mobile home deal. It is a good home in great shape. It doesn't need a lot of work on it. It is a larger home. i know I can sell it quickly.

Here is the hard thing. Doing mobile home deals is taking time away from wholesaling. I really need to do more of those deals. I keep doing what I know how to do, but I want to become a master at wholesaling. That strategy will help me the most in my business right now. I'm going to work hard this week to find 2 new contractors. 1 to do more of my handyman type stuff. 2nd is to install granite on a budget. Once I get those 2 pieces i'm golden for mobile homes. I then need to find buyers of my notes at that time.

Then I can just keep turning and turning. I feel I could find endless mobile homes here between the 3 counties I live by. That is pretty motivating for me.

Well I lost a buyer for one of my mobile homes. They backed out last week. It was probably a good thing, i think they would have been high maintenance anyways so it wouldn't have been worth it over the long run.
We are already working on finding some new buyers.

Most of my focus is to find buyers for a couple mobile homes up north. I unfortunately need to pay lot rents on these and it is killing me. I am losing profits every month. They will still work really well, I just hate seeing money go out the door on these deals.

I just need to see how I will do wholesaling only!!! I'm going to stop buying mobile homes for 6 months. I will get back into them come March and April. I just want to wholesale until then. I have 3 mobile homes I need to sell in the meantime. This is a perfect transition time. I'm going to push and get these homes sold and I will go full force on wholesaling only. I'm really excited actually about this decision.

I will let you know how it goes

I have made my decision I'm changing direction.

I was with Nate Armstrong and Jeff Jensen the other day at an Inner Circle training. I was reminded of my decision I made when I went to the edge event about wholesaling and full service wholesaling. I remember feeling at the edge event that this is all I want to do. and for some reason I came back and continued to buy mobile homes. I have done well with them, but I have decided I'm done for a while. I will pick it back up maybe next year and have my assistant run it and develop it better than what I have right now.
After this inner circle camp that feeling is back again and I am gung ho about it.
I just bought my last Mobile home and we will rehab it an sell it, but that is it.

In the inner circle camp they talked about making a decision about your future and direction and I have made mine.

I'm going to be doing that only and I plan on building a strong business in wholesaling. I'm very excited about it. I will keep this journal up to date with my progress.

My assistant just brought me another mobile home. Holy moly this is hard to say no to. I'm going to see it tonight. She actually wants to buy it herself and needs me to finance it. I may help them out and do it, but I'm done for a while doing them myself.

I have some deals in the works right now. I just spoke with vicki over the weekend, she is a referral and she is in a tough situation. She wants to save her home, she is upside down and is losing it to foreclosure. I'm meeting with her today to help her with her options. Ultimately I'm going to be making a contract to purchase and help her short sale her home.

Also i just got another lead on another deal that is a short sale. The current ones i'm doing the bank isn't letting them go like they used to.

Hey Mike, good to see your journal here, good stuff, so what is the update since June which is your last entry. I just got back from Mexico and am recovering from exhaustion but feeling better. Since last I saw you at the Edge I have done 3 wholesale deals it's awesome. 2 of them in KC MO & it feels good, but now time to get more! I love your honesty and info about wholesaling, it's awesome huh. the banks are being more aggresive now though huh.

Well good luck and keep in touch, see you at next yrs Edge(hope you are going)

The last time I spoke with you, you had only completed your first deal. i didn't' know you have done 2 more in Missouri that is awesome.

Thank you for following and reading.

Yes I will be at the edge event for sure. It is amazing and I want to share it with my wife this year.

It has been a great year for me as well and I look forward to stepping up my business in wholesaling this year. I'm slowing my business down with the mobile homes and will come back to it and putting all my efforts into wholesaling right now.

Keep up the good work. Great to see you still investing.

I'm reading this amazing book right now that is helping me break down my thought processes and actions in the day.

I seem to be fairly organized and accomplish a lot. but i'm seeing that I need to get out of the way more on my business.

I now have this assistant and she is working out really well. I need her to do more. But I need to learn how to let go of things and trust others to do them. So far she has been doing really well.

In this book it is teaching me how to create systems and also identify systems in my life that aren't working. The reason I have to put out fires and stop what i'm doing is because of a sub system not working correctly and is generating problems.

If I can hone in on the sub system then I will be able to identify the issue, make changes then let it roll again. It is really making sense to me and i'm so excited to break down my life and work on the issues that aren't working right.

This month has been a great month. we are finally moving forward with the 2 mobile home deals in Riverdale. I have 2 buyers purchasing them. I just talked with my assistant yesterday and she has already signed the agreements and collected the money for 1 of the homes. They buyer paid 12K cash for the home. I love those deals for sure. The other home is sold and we are signing the papers with the buyers tomorrow. I'm really excited to be out of these 2 homes and finishing the others.

I have 2 others that are coming up and will be turning them again. The owners have left the homes and i'm taking them back. They are going to be quick turn around for sure. we are already working on buyers for them.

I'm so excited to be changing my direction. I have really enjoyed mobile homes, but i'm taking a break from them for a bit. I will definitely come back to them. they are a great strategy and they cash flow really well. My returns are amazing on them. The downside is, they don't bring in enough quick cash. I need more cash now to get me where I want to go. This strategy is working just not quickly enough.

My goal is to be back into flipping mobile homes in 1 year. I'm going to train a project manager to basically to most of the work on them so it will be a continuous system that just keeps pumping.

But for this year I have some larger goals. I will put those here in a later post. I'm so optimistic with this coming year. 2013 has been great, but next year will be monumental.

I just got back from training a boots event with Randy Vaughn. Can I tell you how amazing of an investor he is. He is really doing well, he has a ton of properties he has purchased and sold on lease options. also he is really doing well as a turn key rental flipper. I really enjoyed being with him and look forward to our continued friendship.

That is one of my big goals this year. I want to pick up a ton of seller finance properties that I can resell on a lease option.

also i'm going to focus on wholesaling and creating turn key properties. I'm going to do at least 1 wholesale deal in December in addition to the other deals i'm finishing up.

Well I sold those 2 Mobile homes in Riverdale a few weeks ago and everyone has moved in. That has been a relief for me. I have 3 homes I am now rehabbing also one of my condos just came open as well. So we have properties vacant and i want to fill them right away.

My assistant has been placing ads like crazy and has had some showings but nothing in stone yet. Unfortunately these came available now, this is always the slowest time of the year. It has been cold and snowing like crazy lately so nobody wants to move right now.

We have 1 more week to sell these and get the place rented, we have been calling our buyers on our buyers list and still have a few showings to go, so we will see. it will be awesome when they are gone.

Lately we have stepped up our bandit signs. We increased our number we are placing and wow we are getting a lot of calls on those for LO buyers. There is a huge demand for them. we have a program that is set up for them to help them purchase a property and make it successful. We are now creating inventory for these buyers, i'm really excited about this direction.

Over the weekend my assistant rented the condo that came available. I met with her and lined out all the things that needed to be fixed. We had drywall repairs, finish work, painting, cleaning, a new kitchen faucet. She took care of getting all the items finished by coordinating the workers. Then she has been marketing it like crazy online and she started getting calls and within 2 weeks it is rented. She really did a great job with it. Just this past weekend she signed the lease with them.

I love not having to do this kind of work anymore and I can just focus on my business and finding deals. I have a few contracts right now we are close to having accepted. I'm hoping by the end of this week to have 2 contracts I can close on.

The past couple weeks have been hard on me though personally. My wife and 3 kids have been really sick. My youngest at 8 months old has had a fever for 4 days. That was tiring and frustrating that we couldn't bring it down sooner. He is doing better now, but is actually having surgery today getting tubes because he is getting chronic ear infections. Hopefully this will help him all around to be healthy and happy.

I'm working on my goals still for this year, but it is going to be a monumental year for me. Coming out of the past slump I have been in, i'm ready to move forward and take this year by the horns and i'm going to control it.

I want to accomplish at least 30 deals this year. We are focusing on wholesaling, flipping, and doing lease option sales. I say we, i'm now partnered with another investor I feel will be a good asset to work with. We are going to push each other and help each other succeed.

It is going to be a great year. Tonight and tomorrow I'm going to be planning out the year and how i'm going to accomplish my goals. I'm excited to put these plans together.

Hi Mike! I hope you and the family have a Happy New Year! Good luck with your goal setting activity. If you're like me, it's ongoing and never quite done which is what keeps the year interesting

Hope to see you at the EDGE!

Your awesome, It is great to hear from you. Thank you for your support. Even through I to training for dean I love networking with investors all over. If you are reading this, you need to follow Kristin. She is a superstar DG student doing deals all the time.

I plan on attending and I will be bringing my wife as well. I have been talking about it to her since last year and i'm trying to get her pumped up for it.

Keep in touch this year and let me know how your deals are going. I know you are such a hard worker and are putting amazing things together.

Thanks

This year has been great so far, and I am really excited about my goals. I'm working everyday to produce amazing results and fund deals. I found a new agent to work with I'm training to work with me and my system. so far he is on board. We are having a little trouble getting offers out consistently, so i'm working on ways to simplify it.

Also I have made strides using my assistant. she is doing so much for me and saving me so much time. It costs me money, but the money i'm paying her is well worth what time she is saving me and how much I am now able to accomplish.

It is my long term goal to have my business completely automated and it will just continually produce results. It is a work in progress right now.

I just came across a deal in Missouri. I bought a home in Kansas City about 4 years ago and the neighbor just called me about her home. It isn't a home run deal but it cashflows for sure. I know the tenant very well, she has helped us with the neighboring property a number of times.

She plans on staying there forever in my opinion. She takes care of the home, and is a great renter.

The best part. The seller is really motivated. I have the process going to get a loan, and the seller is going to bring cash to finish paying off the loan she has and I would take a second loan from her. I'm trying to get into this with no money down.

I'm hoping to make this work for sure.

I'm excited about it though

One of the other trainers here in the office really likes to use Elance. it is a website to post jobs and hire people anywhere in the world.

I'm trying my first job right now. I'm setting up an email campaign that I will be emailing sellers of properties and I want them to respond to me and sell me their home with a cash offer.

I'm really excited to try this out and see the success of hiring someone from another country. I think it will be a good learning experience and I really hope it will generate some really good leads.

I'll try and report the success or failure of it.

Today was my full work day that I can just focus on my business. It has been amazing, I have been able to get a lot done. I was able to get a number of offers submitted. I'm training a new agent Brian Williams. He is really been great and provided some good leads on houses. We are putting together our system of sending out 25 to 1 offers.

Also i'm excited about this year. I had a goal to purchase a property by the end of January. We are close on a few properties, but just not quite there. We need to get our offers out. I need to find more motivated sellers. So we are spending money on marketing now, and will hopefully get deals coming to us in multiple directions.

I have the most amazing assistant. and the system we have in place has really been paying off. She sold 2 of my vacant mobile homes, one of them for cash and the other on payments. I just put in my bank account about 5K and I now have payments for 14,000 on the other trailer. I'm so excited to be moving on with those.

Things have really been going well. I'm so excited for this year. I'm going to push hard to make it a huge leap in my business.

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thank you for following my journal. It sounds like your working on doing wholesaling. What market are you working in? I'm not sure if properties where i'm working at is what you need? if you'd like to contact me and give me your criteria i'd be happy to help. Send me a PM if you would like

Thank you

My assistant just sold the last one I had available. it came available in the middle of January of the year and in 3 weeks she had it sold. and collected another 1500 deposit and i'm note receiving $250 per month in payments. I just love it.

Lately things have been rolling. I'm really excited about what we have been doing. I'm going to spend a little time the next day or to going through more of what we have put together this month.

I have to, we are heading to Cancun Mexico and my flight leave in just a couple hours. See you soon.

Right now I'm stitting on a balcony overlooking cancun Mexico. It is just beautivul down here. I love being in tropical environments and being able to share these fun experiences with my family. We have been having a great time together, traveling to see amazing sights like Chichen Itza. Yesterday it rained on us like crazy, in the streets we say in some spots it was 2 feet deep and cars were getting stuck in it, it was a mess.

What i love most is that my work continues even though i am gone. I have 2 workers now that are doing things for me and an third that sends out marketing emails everyweek. I am still getting a lot done, and my printing business is almost completely automated. But what I need is to close more deals.

I have 2 new deals I'm working on right now, my assistant is finding buyers for them right now. We have gone through our buyers list and it doesn't fit their needs, so im working on others right now. ONe of them is a lease option deal, we are trying to get a retail buyer, the other is a new mobile home, i'm trying to wholesale the seller financing on it.

I'm in the process of changing my emails so i can attract different sellers and be able to make more cash offers. That is the business I really need to be focusing on.

Mike, such an inspiration. I really love reading your journal. It feels Im close behind you.. Lets keep pushing on!!

Donna,

I really appreciate your feedback, it helps me stay motivated to keep going and pushing. To be honest sometimes I get tired of always pushing and I need a break. I'm actually at one of those times.

Since my last post we returned back from Mexico and a week later my wife's appendix ruptured and it has caused all sorts of problems. She has been under the weather. it is really difficult to play Mr mom and work at the same time. I am amazed how single women can work and do the home alone with kids.

I love my kids so much, spending the extra time I've had lately has been a real joy, and I love being home to help out. But I've had to sacrifice my work lately so things are piling up and it has been a lot of late nights to catch up. I'm still working on it. Last night was a 1 o clock night and I woke up at 6:30 to get ready for the day.

My wife has been doing an amazing job and is getting better and feeling better, but the real problem isn't gone yet, i'm anxious for that to happen so she can really get better.

Things are still really looking good for this year, I've just had to slow down a bit to take care of my family.

I watched one of my favorite kid movies "meet the robinsons". The motto of the movie is to "Keep moving Forward"

I live by that and it has served me well

I have recently worked with a couple amazing investors Carol and Blake. they have given me some direction to help me focus. I have been carrying a heavy load of too much for too long.

My time has been split between a number businesses and they all take time away from what is most important, my family and real estate.

I'm now working on getting rid of everything else in my life other than family, my church, and real estate.

I need to focus on my market and become the best there is here. I am committed to go to the next level. i have been on this level of doing deals, but not at a volume I want to.

I'm ready for the next level, and am willing to go out of my comfort zone and learn how to do a ton of deals every month.

Well, i've been working a hot lead on a mobile home park in evanston WY. I got the lead from my HVAC guy.

The seller has received a couple offers already and they are basically full price offers. She said I would have to come in at full price for her to consider me. I got the numbers from her accountant and have run CAP on it and it is about 12-13% It cash flows pretty well.

I would love to buy it and hold it, that is the first desire I have. I'm having a fight inside of me. I want to buy and hold all the time, but at the same time I only want to wholesale.

I'm going to follow what I have been directed to do. Wholesale the thing and if you can get a buyer for it, then run it through your buy and hold. That is what i'm going to do. I am asking for 2 months on the purchase agreement. Hopefully she will give that to me to do my due diligence and find a buyer.

Hopefully I get it.

I had a seller call me back the other day about selling her property. She is in pre foreclosure. She wants me to do this huge creative thing and help them for the next year. I told them I would try and see what I can do. But ultimately i want to just wholesale this thing.

We are still negotiating the contract on it.

This last week I have been cramming like crazy to finish a training event we are putting on. We are revamping some live training and I've been working on the content for it. I've put some of my other work on hold the last week to finish this. It really took a lot of time, but I really enjoyed it through. It was fun writing about some of my recent deals and putting them on paper to present them. Also to teach these concepts really helps me to solidify my understanding on how to create amazing deals.

I just turned it in today to get reviewed and worked on for the final. Now I'm back to my work, i'm excited.

New to DG site or journal, made a couple calls to agents haven't found
one to work with as yet. Learning quite a lot here.

thanks guys