Teresa Jo's journal

TJ,
I told you, seeee. Seroiusly. Great going. I knew you had it in you. Kee it up.

So excited because my main cash buyer is paying his contractor to put my bandit signs out tomorrow night. How cool is that?! I don't have to put out my own signs...yay! Just wait for my phone to ring. And my buyer told me that his contractor could help me with repair estimates. Double yay!

That is AWESOME!! I can't wait til my first check!! Yay! I'm so happy for you!! I'm building my buyers list right now, so I've got a little bit yet but I'm looking forward to it! Keep it up!!! You're doing great!!

Way to go! You are on the way, Girlie!!!

What an awesome buyer/mentor you have found! I am really happy for you!

Karen

Yes, I have an AWESOME buyer! Took my signs at noon today to the guy that will be putting them out and gave him maps of where he needed to put them. Already received one call tonight...waiting for more!

What a huge score

Obviously you have found someone that sees the value of working together to better both of your businesses.

Good Luck to You!!!

Julie

I'm so happy for you. Keep it up:)
________________-
TC
Miami,FL
Follow my daily journal http://www.deangraziosi.com/real-estate-forums/investing-journals/144538...

I have followed your journal for almost 8 Months now and I am so glad you finally got your first check and bird-dogging too. Wow!!! You have a fantastic investor it sounds like he will take you all the way up. Hopefully I will follow in your footsteps and see you at the next edge event.

Thanks! Yes, I have a great cash buyer! Now if I can just get 10 more like him...LOL!

Got a call from a man that lives in Houston. Has 2 houses here in Bryan that he wants to sell. He's 65 yrs. old and a tired landlord. Again, I'm working with my main cash buyer and he has let me do the negotiating this time. It's been difficult because I have a hard time understanding the seller...he has a middle eastern accent and when he gets excited he talks even faster. We started with a real low offer and the seller didn't like it so we have raised it twice and have kind of come to a stand still. The seller tells me he will just have to rent the house out again. But I don't think he really wants to fool with it anymore, so me & my cash buyer are still hoping he will agree on a price we offer.

In the meantime, he wants us to go look at the 2nd house and make an offer on it too. The 2nd house has tenants in it so we are waiting to schedule a time to go see it. My cash buyer is thinking of making one offer for both houses.

I'm also keeping an eye on a house that the price has been reduced on. I'm going to consult with my cash buyer just to see what he would offer on it, even if he doesn't want to buy it. Then I can make my offer, hope it gets accepted and shoot it out to my other cash buyers. It's listed on the MLS and I really need to get going on using a real estate agent.

My day job has been rough these last few months...my supervisor retired and they are not replacing her. This means my work has doubled. I am so ready to retire from my day job and just do REI full time.

I put out a lot of signs on Friday night and I've decided I'm going to leave them up all week and see if I get more calls. Got a call from a grocery store manager that went to my voice mail...glad I didn't answer because he left me a message saying they don't allow signs on their property and if I put anymore out he will pick them up. So I'm still learning where and where not to put signs.

Been thinking about investing out of state and need to decide where soon so I can build a team there.

TJ,
Why not! Yes by all means. Expand your networks and with other REIs. Social media is a great way to extend your reach. Linkedin, Twitter, Yelp, and Google+ are a few. Don't forget REIAs are all over the country. Good luck.

Well, my cash buyer & I have worked out a deal with the man from Houston (2 posts above), so I stand to make $1k on this one. Contract is being emailed to the seller tomorrow. Again, this is not your typical wholesale deal...I found the seller, told my buyer about it and then we both met the seller at the property several weeks ago. The reason I did it this way is because I'm still not sure what to offer on properties because I can't get good sold comps. Anyway, I had pretty much given up on something being worked out but my buyer texted me today and asked me to remind him what our last offer was, so I checked my text history and told him $52,500. He asked if $1k would be ok with me and I said yes. So we offered the seller $55k (because that's what the seller told us was the lowest he could go)and he took it.

Don't know if I qualify for a diamond or not, but I'm happy anyway!

I think as long as you make $1k on a deal, you should qualify.

Yay!!!

Karen

I'll call the Success Academy tomorrow to see if I qualify. Those badges mean a lot to me! LOL!

TJ

Just read your latest journal, very nice TJ & inspiring, encourages me to push forward. How come you cant get comps in College Station? Not even from a realtor? Is TX one of those non disclosure States, I've heard that. So not even on zillow or Trulia could you get free online comp's huh?

Teresa Jo, you said in post #9 and Walt in ms. Thank you. That is so sweet. Happy to be your DG friend. I’m coming to Houston in Dec. My Mom has to go to M D Anderson. I wish we could meet and talk real estate. That would be great. I have absolutely no doubt I will make it in this journey. I have wanted it for to long and to bad to let it go. I love this website. I am on here every night. I am going to make it to “Edge 14” come hell or high water. I want to at least subscribe to the “Edge Livecast” and sit on the patio at FireSky Resort and watch it on my computer. Then when the attendees come out to the pool area I can be there to visit with them. Live and in person. Haha there’s more than one way to skin a cat. Lol…. I have a feeling Dean is going to make it a lil bigger this year. I hope so. I will never give up trying to go. I have time to do a few deals by April so we will see. The problem is I have to drive because I do not FLY.

"OH I'M A FAN OF JOEL OSTEEN ALSO"

Well TJ I wish you the best,
WALT

If your mom is coming to MD Anderson, she'll be in good hands. I'd love to go to the Edge event too! It sounds awesome! I want so bad to meet Dean and everyone else that are on this website. If I can't make it in 2014 I'll try to make it in 2015. Yeah, the firesky resort sounds wonderful and I bet it's really nice!

TTYL!

Hi! Regarding the diamond--it's just a badge that goes by your name on your profile. Or maybe you already knew that? Not sure.

Yes, I can get comps in CS from a realtor but I'm not using a realtor right now. I guess our town is too spread out or something. Either the comps don't work because the other houses are not within a mile or the houses weren't built within 10 years of the property I'm looking at, etc. Very frustrating but I'm going to keep trying. My first realtor didn't work out...she wasn't experienced in working with investors. I'm going through a lot of *&#$*)# right now at work and don't feel like looking for a realtor. I get a 2 week break at Christmas so I'll have more time to find one then.

It is great to see you so active here on deans site. That is why this community of investors is such a great resource. I see you helping other students all the time and you are doing deals your self so seeing your successes are amazing.

Thank you so much

Mikessler

Hey, thanks for your comments! Yes, I love helping other people and I think I have an addiction to this website...LOL! Love, love, love it!

After reading a post that Matt put on facebook, it has inspired me to dedicate more time to REI...I feel like I've been slacking off a bit and truth be told, I didn't even put out bandit signs this weekend...my bad. So, beginning tomorrow, I vow to not turn on the tv or look at the newspaper...it's all bad news anyway. I worked some overtime a couple of weeks ago, so I'll use that extra money to put an ad in the thrifty nickel paper. And every Friday night, I will put out signs.

My goal is to retire from my just above broke job within a year...two at the most.

Put out all of my signs last night and already got a call. But the best thing that happened yesterday was my little sister texted me and said that her husband had spoken with an investor about me and he wanted to talk to me. My sister gave me his ph. # and I called him and we are going to get together after Thanksgiving to talk about REI and he is going to tell me what places he likes to buy properties in. And it's nice to know that your family is starting to realize that you are serious about REI and that they have started referring you and they don't think you're crazy anymore...LOL!

Also, my main cash buyer is closing on a house that I brought to him several weeks ago...I'll make $1k on Nov. 25th which is the closing date. Yay!! Just in time cause I need 2 new tires on my car...LOL!

I used the questions that Joe & Stacey suggested on their thread about what questions to ask real estate agents. Well, I found one and now I'm nervous to meet her. I know it's silly, but I feel like such a fraud! How do you get over this feeling? I guess I'm afraid she will ask me a question that I won't know the answer to and I hate being put in that position. Any advice/comments/suggestions from those of you that have been there, done that?

Also, what's a good way to tell her that I need to have "and/or assigns" typed in beside my name?

Don't know why I'm so nervous...I've already had one real estate agent but she had never worked with investors before and she didn't work out.

I have only done 3 deals but have made hundreds of offers and worked with ton's of agents and am comfortable talking with them now and know what to say etc. I was nervous like you though when i first started, now I know what they are going to say since I have talked to about probably a 100 agents in several States.

So you prob wont have to tell them anything, the agent that is about and/or assigns unless they are a B player and why are you meeting them too btw? we are really supposed to meet them, I just talk to them on the ph if they sound good and have done at least 1 deal a mo for the past yr and send me what i am asking for then i work with them, if not then i move on. I dont go see props anymore, i just have them send me the listings & i look at the pic's & have them send me comps and go from there.

The agents are great but you prob know more than they do about investing and general real estate ha, they study the RE book to take the test but that is all the laws & such but a lot of non-real world stuff i have found. good luck your gonna be great, you powerful re investor you sorry for the long post

I don't go into the "and/or assigns" discussion until we are making up the first contract. Even then, it is not a discussion.

I simply tell them that the offer will be made in my name and/or assigns because am not sure yet if I will be closing in my personal name or my company name and then I change the subject and continue talking. You say it with complete confidence just like you do it a hundred times a week.

Of course, you already know this cannot be done on any bank owned prop.

I have been out of town for a while and will be returning late Monday. That is why I haven't had a chance to get back with you. We'll talk this week.

Karen

Thanks for your comments and the boost to my ego! LOL! The real estate agent wants me to come in to her office so I can let her know what my goals are, etc. I'm sure she probably wants me to sign an exclusive agreement w/her, but I've learned my lesson on that. This agent has had a lot of experience with investors so I'm hoping she will be an A player for my team!

Hey TJ. Working with this REA, go in owing the situation. Remember she's WORKING for you. Look to see if she fit's your style. Turn the table.

Love your action girl, yea you got it, I guess there are exceptions in everything and why cant you meet a realtor every now and then. I know the meet will go well, and Karen nice explanation for the and/or assigns I like it I will use that LOL. Even tho i make the offers in my co. name I of course can always say "I'm not sure in what company name we will close it" who knows which of my buyers will get that prop right LOL.

Well nice and when you get a good agent it is sooo nice, happy investing.

PS I heard there are more homes being built in Houston right now than in all California, what with all the permit fees here and red tape, theyre not doing themselves any favors, the govt here that is.

Thanks Karen for your input. Yes, I was wondering why you hadn't called me back...now I know you were out & about in Kentucky. Think I saw that on your FB page.

Tony...yeah, I need a realtor so that a) it will force me to make offers and b) I know I can learn from her (and she from me!). Thanks for making me a friend on FB!

Met with my new realtor tonight after work and she is SO MUCH BETTER than my previous one. She's with Century 21. We went into their conference room and spent over an hour looking at properties up on a big screen on the wall and her talking about them. We also discussed a property that I wanted her to pull comps on, which she did right then & there. As we talked about them, I would let her know which ones to email to me. Now she knows what I'm looking for and can take it from there. And she has "angel buyers or investors" that she works with so I'll have access to them. Oh, and she did not even mention anything about signing an exclusive agreement with her, which I'm relieved that she didn't.

Excited about the future!!