California Dreaming:Calitony

We just keep on plugging on and not give up on our dream, because we see the progress and know we can do this!

So you can see I am like you & everyone else:)

andale Hermano!

this is good, you gotta stay positive, and do something for your rei everyday. I know that you will reach you goals; you are on your journey to success!!

Valeria

Keep working on it Tony. I haven't had any success either but someday---
I work 2 jobs and find it very difficult to get time on my rei. We can root for each other though.

how are you man ? i wish you the best i'm extremely close myself. i talked to a buyer today that said "I LOVE WORKING WITH WHOLESALERS" she was ecstatic i'm located in my city so i can get her deals here. I am beside myself. i have quite a few buyers now.

Tony i wish you all the best man.

here we go,
WALT

Hey you haven't give up so thats a good thing. Keep pushing forward and if you fall pick yourself back up. I wish you the best

I just read your journal didn't know you had one, but after reading I wanted to sympathize with you but I will not but would rather say that through all what you have gone through has just made you more strong in enduring the tough and uncertain times.

I wish you all the best, we are in the same boat but your boat is loaded with all the deals you did in the past, so you have a success story and you should be proud of it.

I am sure it will happen for you.

Wishing you success,
Bimal

yes I appreciate it it means so much to me to get support I can't tell you how much it means to me sometimes I feel like I am the biggest loser in the world & feel like running away & going in to a cave! But I am pushing myself forward with tears & swallowing hard to get my goals & I will get them. Tomorrow I am starting on what Dean n Matt said at the VIP, doing it to the letter. Love you Val!

We can do this, thank you so much like I just said it means a lot for me really since I was feeling alone & discouraged, beyond discouraged really, I think I have been suffering from depression & maybe I need some therapy but yes we will do this!

We will keep each other accountable. I think it is tough with 2 jobs, I think there are similarities with us tho, you 2 jobs & me with going to mex all the time & trying to do too much all the time instead of focused measured efforts to maximize results.

Like they say if we just do one thing a day at the end of 365 days we would have done 365 things to move our business forward. Lets encourage each other!

Well I have been depressed! Feeling like a loser! Like the only guy who is isn't being succesfull with all the knowledge etc. but I am feeling better, i wanted to start this journal to keep myself accountable, you should start one too Walt & do the same thing that way we write what we did that day to move our business forward. no more excuses for us! we are moving forward.

Bimal, Ray, thank you so much & you too Walt for your encouragement like I told Val it means sooo much to me to receive encouragement! It really does. Yes, I want to encourage you guys too! Walt we can do this! We are sooo close! Bimal you too! Imagine if Edison has stopped at the whatever time he got it right for the light bulb! Someone else would have discovered it. Will report tomorrow what I did in my business ok. God bless.

If God is for us, who can be against us! Keep going, you'll get there. Remember to give back, after all it's not really our money, right?

God Bless,
Michael

I just thought about that verse the other day I love that one also the one not sure where it is in the Bible but it says "Greater is He that is in us than he that is in the world"

And also "nothing shall seperate us from the love of God which is in Christ Jesus,..not heavan or hell or anything present or past.." something like that

Oh and the one where is that one too, "Remember it is the Lord your God who gives you the power to get wealth" Deuteronomy right.

Thanks Mike, PS how do you calculate cap rate again? divide purch price by NOI right? Anyone?

so today am pooped now after having worked earlier, watched the Dean/Matt livecast which was awesome! Going to get the training Fri when I get paid! After that went to celebrate with my friend hung with him for a couple of hours had a couple of cocktails so a little loopy but I wanted to keep myself accountable like I said by writing every day what I did.

I talked to about 5 of my buyers today, called emailed texted about 13 of them & got a hold of 5 of them or so, following up with them to make sure they are still buying-they mostly were. I also analyzed a turn key deal in KC where a lady one of my buyers actually wants to sell her 5 hm's she has for less than what she owes on them she just wants out. I have to figure that out & get comps tomorrow & talk to my buyers.

But today I did that & contacted her & said I was in the middle of analyzing the prop's. I also today checked my email returned a few of them, emailed my agent in KC for an extension to one of my deals in escrow & went on the webinar & networked there(got several names ph#'s & emails fr other wholesalers) & also posted on here on a couple of journals & topics. So that's it good night.

I'm not Mike, but you have it backwards. NOI (net operating expense) divided by value (selling/purchase price)

Tony, don't dwell on the negative or you get MORE negative. Dwell on your blessings and you will get MORE blessings! Instead of thinking "I am such a loser!" think "I am such a winner to have been smart enough to have started doing REI! It may take a while but at least I am heading in the right direction!"

Karen

Karen is correct. NOI divided by sales price. Here is a neat little trick I use all the time. I like to use the cap rate I am looking for. Say an 8 cap. I divide the NOI by the cap rate number I need (we are saying an 8 cap). That number gives me what I can pay for the property if I want an 8 cap.

Example: Lets say the NOI is $500,000.
$500,000 divided by .08 = $6,250,000 That is all I can pay to achieve that 8 cap. Make sense?

Something else to remember. The higher the cap rate the higher the risk. The lower the cap rate the more stable the property. I hear people (newbies) say all the time. Wow, this property has a 30 cap rate as if that is a great deal. Its very risky due to many factors that you would have to discover while doing your due diligence.

I think the sweet spot is 8 to 12 for cap rates.

God Bless!
Michael

You pray for me and I'll pray for you.

I love saying Kareng btw:) LOL but thx really that means a lot to me to get encouragement it does & I yes I am feeling(not to base myself on feelings)but I have been feeling better today & yesterday. Thx Michael too for the formula & tips they really help & yes it does make sense I love these little shortcuts to figure stuff out.

Regina I will pray for you, need prayer. Soo today was pretty good, I recieved a list of turn key props in KC MO, Indianopolis & St Louis cap rates 10%-16.9%(maybe this is risky Michael right:) 26 of them & I posted them on insiders elite fbook & to my buyers so hopefully that will work & as you know Karen we talked about a few lease options props that I also came across AND I checked out a few props some other dg'ers sent me in KC (they didn't work out they were 2/1 & other prop was not where I invest) and I emailed some buyers of mine & also got a lead on a prop in san diego an REO that seems to check out.

I can't put it under contract the wholesaler/agent wants non refundable fee upfront & he knows the business so he wont let me do that so I bird dogged it to a buyer of mine. I had to fill out the consultant agreement & I sent it to him but had to redo it since he is an agent & agents aren't allowed to give referral fees(although they do just no papar trail he could lose his license) and I also called the coaching line twice to ask about the consultant agreement first & then how to use prop trend to comp out hm's well I thought I was comping them out for a couple of mo's now but found out I was not just getting the value it shows at first which they told me to ignore & then showed me how to comp out hm's with prop trend, in disclosure states, non ones we have to use an agent they told me-I see now how critical it is to have an agent, for this reason but also for HUD props to make offers because you need an agent for that they wont take your offers without having an agent.

I also treated myself & went out for a walk here in downtown san diego & ate dinner some lamb rotissirie with salad & rice & garlic yogurt it was delicious & some baklava um & it is or was beautiful here today again like 75 & sunny & blue skies, Gods Country. Ok lets do this or we will be where we were last yr.

Hi Tony,

Sometime back Karen had posted on journal about attracting positive by holding a positive thought for 16 seconds and do this as many times as you can in course of a day.

Because she says positive attracts positive. For me I am trying but keeping forgetting to recite the name do n Hindu Gods or a goddesses.

Which you best luck and I see you are at point where you want to do a lot.

Regards,
Bimal

Yes I am doing it! We are! ONly 189 or so days left to the next Edge.

Tony,

Lots can be achieved within those 188 days, if we put some fun into it.

The following is from the Holy Book Geeta:

Only those who work unconcerned with fruits cad work with complete dedication.
Do not look at the returns, just love your work and do it lovingly just for the pleaseure of doing it.

Give your all to the role you play at the time to give maximum justice.

Tony, have watch the video clipping on the DEATH CRAWL, if not watch it, it will do wonders to your motivation.

Also TAMMY has a video clipping on young ducklings and how they overcame hurdle to get on the top of the stairs and not knowing if they will succeed or not.

What I learnt from that clipping was, to be efficient and successful at work cultivate strong mindedness and do whatever it takes to get on the other side.

Best Of Success in your RE business
Bimal

Bimal thx for the encouragement. So today I woke up with a sore throat first of all, & am angry with myself for hanging out too much with a buddy of mine & I thinbk getting sick from partying too much. I am cutting wayyy back on that and not going to see this friend too much because I want to become a multimillionaire! & I have to be disciplined.

So this morn at 8:30am I wnt to a caravan meeting (meetings for agents) here downtown san diego & networked with a few agents & a lender & asked him if he had any deals they had taken back, that I could close on them quickly I was a cash buyer(my buyers & I am their partner:) & he said "no one has ever asked me that" it was glorious, I said "we think outside the box" LOL it was priceless. The leaders of the meeting told me that I was not suppose to attend those meetings since I was not licensed & that it would give me "an unfair advantage" I smiled inside & I said so you are telling me that I cannot come? She said we cannot prohibit you from coming but are not SUPPOSED to come, so I said ok no problem but I am adding value to your meetings, I can take props off you hands & close quickly & she said well you are not supposed to. Well I am going to continue to go it ****ed me off & I can get business from there.

When I got hm I returned emails, checked on a prop in san diego, received a call from a lady selling turn key props in KC & told her that I wanted to lease option them I might have mentioned this already, the seller said she was against doing a lease option, I told her, her only option was short selling & she said she was willing to pay cash at closing she is very motivated to sell, she said she just wants out-no more connection with the props. I said ok let me see what I can do. Tomorrow I talk with another dg'er or 2 about this & see how we structure it. I also watched the matt/dean webinar again & also watched 3 daily wisdoms & I spoke & networked with another dg'er who I met on the webinar Tue who is in San Diego & he came down & I gave him a sign to put on his car a bandit sign & I would take the calls & qualify the leads & we would both go see the props & put them under contract & wholesale them & split it 5050 & that way he can learn while he earns & will show him everything I know so far.

Well that's it I also did make myself a killer soup as a reward with potatoes & broccoli & celery & cheese & carrots with pasta & a savory sauce & it was yummy so now will take a sleeping pill to help me sleep havnt been sleeping so well lately. God bless & we can do this!

Kind of battled today honestly, I said I would be honest & transparant & I partly failed today, but I will fail forward. I only today haphazardly comped out a prop(only half way thru) of the seller I mentioned before who wants out of her props. I emailed a couple buyers of mine, sent one a prop, connected him with the seller to make an offer(to bird dog it) & talked or networked with a couple of wholesalers & watched the 15 min replay of Matt/Dean.

Would love to get the prog they are offering, $ wise humm not sure. I have a ton of capabilities already so I can just take action with w/I know now. tomorrow will be better. now going to watch Louis CK & relax.

PS Am feeling a bit down missing my wife in mex who is really pushing me to go down there but it is dangerous, lots of kidnappings & poverty, hard to get around for partially sighted people not to mention the difficulty to try to do business there. Well have to be strong.

I did laundry today & was kind of a day off, hung with a friend but I did get a lead from one of my buyers in So Cal who wants to co wholesale a prop he got under contract an off market pocket listing, he has under contract for 260k ARV is about 350k & is here in Emerald Hills San Diego, a nice neighborhood. Hm has tenants in it I have to ask him if they are the homeowners who defaulted I assume since it is an REO.

I also got the Master class w/Matt!!!!!!!!!!!!! I got paid yesterday social sec. & figured out my budget today did one & I had $ for that! No way I was going to miss out on that, I was hoping it was not shut down yet & it was not. Another dg'er is going to come over & split the cost with me & watch it with me, a partner really now. I am sooooo excited, cant wait, this is going to catapult my biz to a whole new level I know it.

I was bummed at first thinking it might have been shut down so I waited also I sent my wife some $ (I support her) & thought it just would not be enough but after the budget I saw that it was, now I am going to do a budget every mo & write down every expense to see exactly what I am spending, especiall food since that is a variable & I eat out sometimes & I dont' write it down.

I am feeling incredibly torn about my wife in Mex, she wants me to come down & be with her & I do miss her so but the place where she lives is poor & ghetto I mean really getto, like a burned out car next to the house, trash everywhere, houses of cinder block, dirt roads, no sidewalks or half finished. Lots of kidnapping, theft, assaults, I guess writing about it makes me think how selfish she is being by asking me to come down there because it would put my life in danger.

Like I said I wanted to be honest & transparant & I am, this is the only way this is going to work-me changing my life & becoming a mulit millionaire is opening up & revealing my life to all of you and I am now. So I would like to hear what you think.

I am a Christian & spiritual & so I also think about the Bible how it says not to love your life & not be afraid of death & that our life is not our own & I believe it, but do struggle with that, I am agonizing over it actually. Any comments are helpful. I think about working from there Mex & helping the orphans etc. & doing charity work on my timer off.

But I think that doing business there would be tough, I wouldn't have texting hardly, & sometimes the ph lines are spotty & the internet connection too, it's mostly reliable at least there in mex city not when you go out of there. Anyways thought I'd share. God bless.

PS: Oh forgot to say that I did comp out a prop today in Las Vegas from another dg'er who I gave the bandit sign too to put in his car, a lead he got but the sellers are not motivated, ARV is 175k & they won't go below 219k can you believe it.

This dg'er lives close to the beach & I suggested he go walk around with the sign on the beach when there are a lot of people like tomorrow Sunday unless it is raining like today & he agreed.

we are so close. think of all that we have learned since we came here several years ago. talk about "3 feet from the gold" i feel like i am inches away. i am goin to choose a realtor on monday who will have the privilege of working with me and making LOTS of $$commission$$. I know you have a lot on your mind but real estate is where it's at. i have no doubt whatsoever "WE" will be mega successful...

WALT

Yes sir, yes we will, I love the enthusiasm, as Winston Churchill said "Success is going from one failure to another without losing one's enthusiasm"! Love it, have had many many many failure's but I have not lost my enthusiasm either.

Great to hear that you are getting actually you told me you got that agent today by text so that is awesome, way to go! Agents are awesome!

Today I comped out 5 props to make an offer on, the one's from the motivated seller who is under water & I finally got good comps from another agent so had confirmation.

I also got an apt complex off market from one of my buyers/co wholesaler who is also an agent & I sent it to a couple of my apt buyers & they are excited about it so I sent them a bird dog agreement of which we would get 3% of purch price which is 500k so 15k.

I also sent a package of hm's I might have mentioned above to a couple more buyers & I made 2 offers in KC MO with my agent. I also met with a fellow dg'er & gave him a bandit sign, another one to take to the beach & gave him some RE lead sheets to fill out when he gets leads & I watched the weekly wisdom.

That's it, now gonna go jump in my pool & hit the hot tub!

PS today was paradise in San Diego, perfect weather 75 sunny but comfortable.

I sent another dg'er today to go take pics of a prop that one of my buyers sent me here in san diego an REO. the dg'er went & there were tenants-who let him in & he took pics & sent them to me. then the previous owner calls me (cuz the dg'er gave the tenants my ph# because they asked him who he was working with)& says the tenants were hysterical & said the dg'er forced his way in & intimitaded them.

Of course that was bull I called the dg'er who was shocked by that & said he politely asked to come in & take pics that we were the buyers & needed pics. You learn something new every day LOL funny. I just told the prev owner there was no problem(he wanted to meet with me & the tenants like in 10 min)I said no that wont be necessary & hung up.

anyway that hm I am putting it on clist & IE to see if we can wholesale it, ARV 360k, purch price 260k w/our fee would be 270k, the rehab well prob 30=40k, but I want to wholesale this like Dean says to unsphisticated buyers, who would buy it & sit on it for 6 mo's or a yr & then just walk in to appreciation. The market is so tight here only 3 mo's of inventory, so will make an effort to find these buyers.

I also sent another package of hm' in Austin TX to one of my co-wholesalers in KC & to a buyer who is int, very. Bird dog fee of 3% of purh price which is I think 20k

I also emailed buyers/co wholesalers today & talked to a couple of my buyers. Now just relaxing from the hot tub & going to watch the Edge 2014!

Looks like you are back in business wish you success and do not despair if things does not go as planned. For people who work hard success is just at arms length.
And you know what you are doing so it is just a matter of time.

Wish you the Best
Bimal

Yes things can go wrong, I found that hm in san diego has a 25k lien on it so that kills the deal it was tight as it was that made it dead. Well I hve been battling with whether or not to go see my wife, WTH is wrong with me geeeze. I know my wife will be sad if I don't go but the place where she is at is dangerous, listed on the state dept website as a place for americans not to go, the cartels hold sway there, tons of kidnappings there.

I wish life was not so difficult at times, just being honest & sharing, it's not all just REI but these personal things that go on that $ wont solve because the wife wants to be there, and I don't.

Anyways today I analyzed a few props & made an offer & spoke with a dg'er we are going in on the matt class yea so we will share the cost. Mostly was useless today because of my inner turmoil bull@*#*! I need help LOL

Tony, if it's an reo, what kind of lien is it that is still in force after the foreclosure?

I pray everything works out well for you with your current situation.

But keep on working towards RE, becuse once you start making some money certain things starts falling in place.

Hope everything turns out better for you.

Bimal