jbtoggs journal

Just wanted to stop by and say hi before we go to the Edge. If you need help getting down off that pole just let me know.

See ya in AZ.

Steve.

Great to hear from you!! Yes I am excited to get to meet you's at the edge.I.am pumped to get to arizona.only area more weeks!!!!!!!!!!!!!!
jay

Put 3 offers in yesterday after doing due diligence and making repair lists on each.hammerpoint is awesome to use and I believe it may become an app for smartphones:) .
first house is listed for 32,900 and WOW it was def not worth this,after all my fast cash formula figures I made an offer of $15,000.
Second wth I offered $20000... the list price was $49,000......the comps were $40,000.this was a mobile home in exc shape with garage on nice lot. Now I only offered $20,000 because this is a property that I called on a few weeks ago and did not get back to but DID FIND THE MAGIC BUTTONS!! but also did not TAKE ACTION ON and the owners.....which was now an estate listed with a realtor.when talking to the owners a few weeks back, they would have taken $27500.!!!!!!!!!! Man I just lost some $$$$$$$$$$ for not jumpingon this.NOw they want 49000 ??????? We will see what happens.
Third property is listed at 59000 and after repair list and fast cash offer formula.....I offered $25,000 .the owners died and left house to 4 kids that live out of state. I am hoping this gets accepted because I have a three buyers with down payments and mnthly. Waiting for me to have a deal.will keep you informed
Jay

ok so i heard back from realtor on first two offers for sure and potentially on third.
first offer 15000 on listed 32900 was countered back at me for 20000...so i stated my offer still stood at 15000 and the realtor...which is a sellers agent said the owners would not take 15ooo soooooo we'll see if they change their mind in the near future because i KNOW peoples NEEDS CHANGE DAILY !!
on the second offer 0f 20000 for the list of 49 was also a decline and a minimun 40000 counter from owner.I stated 20000 still stood with me but in my mind and reality i MAY call back in a week or two and re offer 25000.this has a potential for more thinking as the comps were well on this one.

ok now the third offer of 25000 ...i just got a voicemail from another realtor that my offer MAY be accepted.the children has to check with their attorney to see if this offer will cover all their costs they had from all expenses they have involving this property.now i dont want to get my hopes up but i am EXCITED !!!!!!!!!!!!! to hear back if this comes through as i have a few buyers knocking my door down to get a house.my offer expires tomorrow as i only gave a 48hr offer so they couldnt shop it.sometimes i wonder if this is good or bad....if my offer expires then the realtor now knows they can push it to other investor friends for this low price so i am going to wait till tomorrow noon to see if i get a call back then go out and extend my offer so i dont lose this.working full time sometimes i dont take action ON THE SPOT so i have learned deals sometimes slip through my fingers when they are GREAT DEALS .soooooooooo a lesson for me and everyone else is if you think and can confirm it is a deal DONT WAIT cause it will be gone !!!!
jay

I talked to realtor and she said my offer has a great chance of being accepted. The owners/ estate/children will let this go if it covers all funeral/closing /misc costs......so I am waiting with excitement to hear back. From realtor.I went in and signed an extension on offer and initialed.I know matt and others del a 25-1 offer formula but I have my fingers crossed for a 1in 3. Formula for this Mnth . Sometimes when you get in the game...things work out in your favor every now and then and I have faith and determination this is one of them .I WIll still keep making offers and looking for no money down deals.
I hope all those who r striving for their first deal do not give up but keep driving themselves to make it happen because YOU HAVE TO MAKE IT HAPPEN!!!!
JAY

But still analyzing properties to lock up another great deal.with all the driving I do I see many fsbo properties and am calling daily to run the numbers.wow this is exciting and can only imagine doing this full time! ! Heading to the HOT state of arizona next week for a LIVE DG EVENT!!!!!! pumped to meet new investors and establish more contacts and see dean,staff and all the dgers.. karen and I and my son justin and his girlfriend tiffany are anxiously awaiting to take to the air and get to the sunshine state of arizona!!!!!!!!!!
Jay

Looking forward to meeting you and your family at the Edge!

for sure we will see you at the edge.cant wait to leave tomorrow !!looking forward to the amazing wisdom and knowledge to gain.the family is excited to get to the 90+ weather !!!!!! see you there karen !!
jay

i JUST SIGNED DEAL # 18 LAST NIGHT !!! i sold this mobile home trailer lot with garage for OOOOOOO MONEY DOWN.....who says you cant buy a property for no money down??? total buy 6,800 actually the price is 400 down as option money towards a lease option and 400 per mnth.....total sale price is 22,000 at 9 % for 6 yrs which totals around 28,000 total to be pd to me !!!!
jay

I say this deal is a no money down because I let the buyer start cleaning and repairing the property even before the contract took effect.this property needs alot of work and the buyer is willing to pay me 400 per Mnth,all txes,repair and hold insurance.its a great deal for him and now I have another 400 coming in a Mnth.this stuff works anywhere.......you just have to be determined to make it happen.pleeeeease for those who have not made a deal yet consider lease options and pleeeease do not give up........you can make it happen! !!!!!
Jay

wow do i have a few things to say in my journal !!! first of all i nailed my 18th deal before going to the edge. as many of you might have read my 2011 edge journal posts ....we had an awesome time in arizona at the edge and networked and enjoyed the whole weekend ...it was AMAZING.hung out with some fantastic people and learned a TON !!! the main lesson i learned if i put it all together is to do the basics and dont stop till it starts working like magic ....and i think it has started working like CRAZY!!! within 2 weeks i have gotten 2 deals sold and 3 offers accepted!!!! this stuff is working .i am soooo excited to know that i am on my way to making some huge profit when the market goes up .actually i am loving it RIGHT NOW. the best part is my boy justin is learning these strategies and my wife is helping me skyrocket forward to financial freedom.NOTHING better than doing it with your loved ones.
thank you dean and dg.com and all the students for helping me see the real me inside !!!....ps just got a deal accepted ..today another trailer with lot on a corner with a nice wide paved driveway.......through a realtor....asking price 15500.......buy price 7000.....yes thats right 7000.....I SMELL profit ....and a way to make someone a homeowner FAST !!!!!
jay

I've been going since early this morning, and was about to sit down with a nice cup of tea and take a minute or two, but what do i do - read your entry and wow, did you just motivate me lol No rest for the successful (not yet, anyway haha)Thanks!!!!

NO DONT SIT DOWN !!! jk.....every time i see someone do a deal i get motivated too !!!! wish the edge was for a week.not sure what is happening but the deals r falling out of the sky !!! karen and i r working on the cruise points and am getting excited to think of all the fun and learning we r going to have !!! ok take a rest now and have your tea!! keep tearing it up in kc laura !! talk soon
jay

deal # 19 is another trailer on a nice 1/4 acre lot with paved drive.i signed the purchase offer a couple days ago and the owner was to sign today so awaiting that news and on another deal that i had verbaly accepted ...still waiting on attorney to straighten out paperwork to pay off some bills for the seller.the owner has sent the attorney a letter stating to get this deal acceptance moving.the attorney has to add up all the debt that the children owe and make sure my offer will cover it.If it does then SOLD !!! I am especially eager for this one because i have a couple buyers WAITING and mouth watering to get in this.buy price $ 25,000....cashsell price on lease option $65,000 with a balloon and mnthly pymnts with interest to me .....6=8 %....havent decided yet...depends on buyers credit.
excited every day to get a text or email or phone call saying its a go !!!

on another deal i am also awaiting for buyers tax to come in this week or next to get a 2000 down pymnt on an empty lot i sold....with mnthly pymnts and interest.

so deal 20 and 21 are sooo close and eying # 22 !!!!!

also super EXCITED to get the planning and organizing of the 2012 dg cruise !!!
this is going to be an AMAZING fun learning,networking BLAST !!!! imagine networking with top students and professionals and fellow dg like minded people for an ENTIRE WEEK !!! all the while enjoying shows,games,seminars,ports of call,shopping,relaxing,sunshine and crystal clear blue ocean !!!!!!!!!!!!!!!! WOW I AM THERE NOW ...IN MY MIND !!!

be on the lookout for an UPDATED POST . hope EVERYONE can be on this ship because it is going to be AWESOME !!
JAY

To anyone who is having concerns about making calls to sellers, I highly recommend listening in on an experienced buyer.
I had the opportunity to listen in on one of Jay's calls and found it to be enlightening. The seller was more than happy to answer the questions and even reduced his asking price without flinching (Something I was always concerned about asking for.)
The key is to ask the right questions not too many questions. A listen in to one of Jay's calls will help you learn the right questions.

Thanks again Jay for the opportunity.

Andy Sager
AndyS

it was another learning experience for me as well on that call !! every one is unique.I am going to copy and paste your last post above to my "do you want to listen in on a deal " post if thats ok !! also if anyone wants to get to that post from here and see how others r learning how to find those sellers MAGIC BUTTONS .......CHECK OUT THE LINK BELOW...will get you back on another caLL soon andy !!
jay

Jay,
correct me if I'm wrong, but from your journal entries I read, I believe you say that you do owner finance for some of your properties-may I ask what forms you use? Do you notarize and put it an escrow account?

thanks for sharing your knowledge!

Learning and progressing,
Valerie

i use a land contract and in my contract it states the BUYER...has to provide the accurate payments made every mnth and the amount pd AND OWED at FINAL payment.i keep and my cpa...a copy of the ammortization schedule... and so should the buyer... to mark off and provide PROOF of payments.I also keep COPIES of EVERY CHECK and the # of the check and amount OF EVERY PYMN in every mnth.

the land contract states the payment amount and interest amount and number of yrs to final BALLOON pymnt.
jay

does the buyer pay for taxes and insurance? do you include it in their payment or just have them pay it in full every year?

I like the idea of giving the buyer a copy of the amortization table too.

thanks again!
Val

the buyer pays the taxes,insurance,maintenance......u just collect the check EVERY MNTH.i like this better than the lease option.the one down to this is if you have to forclose on them if they dont pay the payment or taxes or insurance.BUT ... you only have to forclose if they have pd a majority of what they owe you.if its on ly a small percentage then you treat it as a rental so to speak and you can evict .I would have to read the contract to explain it in detail.
for example i sell a house on l/c for 40,000.......up until approx 25,000 that they have pd ...i can evict for non pymnt.....after they have pd say 25-30,000 already ...then i have to forclose....it is a PERCENTAGE and at this SECOND i dony know the exact % but that is how it works.I am now doing more l/contracts than lease options .depends on what staTE and your local laws as to what is best for you.
jay

oh yeah i also use an app for my smartphone for ammortizations ...it is at your FINGERTIPS !!!
JAY

the ammortization apps... I have to get me a smart phone... mine is still a dumb one

I also prefer the L/C; the properties I'm doing are in Texas, and they do frown upon (to say the least) L/Os.
thanks for the info about the % payment to foreclose/evict- I will research that.

Appreciate your help with all this...
Val

You are doing awesome! Great to catch up on your journal.

thanks for checkin in on my journal.i have to start entering more...i have been lax on this.thanks for your support !!!
cant WAIT for the cruise !!!!!!!!
jay

to absorb as much as possible! You're doing amazing things Jay!

So proud of you and Karen! Both looked awesome and did awesome on Dean's video! SOOOOO excited for you guys.

Hold on to your britches....I'm coming!

May you cup runneth over,
Jen

Was fun sharing on video and can't wait for next yrs edge to share even more bigger and better results from TAKING ACTION.......
ps: ...im not even lookin back because I know u r full steam ahead!!!!........great job yourself and don't let up!!!!!!!
Jay

Jay,

Great video of you on Blueprint. Thank you for your encouragement!

Cheryl & Dave

Hay Jay have a nice time off with your wife.

Steve.

thanks guys !!!! i missed alot this past weekend.....was gone on our 23rd anniversary with my wonderful wife !!!! have to watch the replay !!!
jay

thank you !!! glad to hear from you!!!! hope all is well with you and i have to catch up with you soon !!!!.
jay