The Journal of the Daily Adventures of Indiana-Joe

As the seasons change sometimes I reflect back on the year at hand. Today marks my 6 month anniversary on the DG website and how time flies. It has been a great 6 months and I have met so many wonderful DG Members on-line. It is always nice to share a journey with others along the way. You can share in experiences and information. I can't believe how fast these 6 months have went by and how many new things about real estate we continue to learn each and every day.

Therefore, I would give everyone encouragement that no matter where your coming from or what challenges you may have, to keep the faith and do the best you can each and every day. Time will bring knowledge. Effort, time and knowledge will bring deals. So stay the course be patient, do all the right things and it will begin to come into focus and come together one day. That day is probably sooner than you may realize.

Today, I had to drive to downtown Indianapolis and the weather was a little foggy this morning but turned out to be a great October day. The temperature hit nearly 70 degrees and it was sunny. Indianapolis is a nice city that has a lot to offer and I enjoy spending time there whenever I get the chance. The drive along I-65 is scenic with all the trees and Fall colors, it was a fun and relaxing drive.

I hope everyone has a great week and is pursuing several leads to the next potential deal. Make sure you update those goals and action plans on a regular basis. Each day that you do one thing on your to do list is a good day! Good luck with real estate investing. Don't forget to pick up more candy for those trick-or-treaters. Can you believe Halloween is already this coming Saturday? Believe and Achieve! - Joe

The week is just flying by as Halloween and Daylight Savings time is ever near. This October has been a record setting month for rain in our area. I hope to see clear skys this weekend. Today, I attended a training and they covered some interesting points that you could apply to real estate investing.

One interesting area I learned was trying to view your education as being a "Life-long learner" no matter where you are at in your career or stage in life. Each day we can learn something new, open our minds to new concepts and achieve new and greater things by just having an open mind to learn and the right attitude. I enjoy learning and this made great sense to me. The key was to figure out how to squeeze an extra hour into my 24 hour day.

This made me think about Dean's Gain the EDGE DVD program. I remember Dean covering points about being organized. So, when I got home, I had to rewatch the DVD program. No matter how many times I watch these DVDs I always feel like I get something new out of them. Dean's statement about busy people really made sense to me. Dean stated that "busy people" (entrepreuneurs) sometimes beat themselves up each day for the things they did not get done rather than celebrate the things they did get done." I found most days I may be doing this because there are just so many things going on from day to day. As Dean discussed, the more we plan and organize the easier our day will go and the more we will get done.

It is a little strange in certain parts of our local market. I have met a few new real estate agents and bankers and most banks are looking for comps for appraisals within the last 3 months. Thus, it is a little hard for some deals to even get closed. A met another investor that had his duplex on the market in a great area. The building is very nice and easy to rent. The final sales price for a duplex was $170,000 and his buyer was putting 25% down. The bank wanted "comps for a duplex", even though this duplex is like a side by side townhome. There are several other of these townhomes within blocks that have sold 1 each rather than the pair. Believe it or not the appraiser would not use a sale for 1 townhome and stated they could not find both selling at the same time in the past 3 months. Therefore, the buyer is going to another bank. Sometimes in real estate it is hard to understand banks or appraisers, we just have to know what is going in the local market by making observations or basing decisions with the latest information. This information will enable us to make the best future decisions.

I hope everyone is having a great week and finding more leads to the next deal. Keep the search and the journey moving forward! Today could be the day that next great deal appears. How many new "For Sale" signs did you notice on the way home today? Believe and Achieve! - Joe

Dean's comment on Gain the Edge about entrepreuneurs beating themselves up for what the didn't accomplish really hit home for me. Dean made me realize that this is self defeating behavior. So now I organize my time & priorities better and can see what I have accomplished and feel so much better. That was great advice.

I understand what you mean about getting recent comps. The 1st comp we ever asked our agent for had nothing in the area that had sold since July 07. Fortunately that doesn't happen all the time.

Take care,

Lea
SPR Property Solutions, LLC

Thanks for the comments and insight. It is great how Dean's experience can provide information to make us better and countless others at what we do in investing. Sometimes this makes so much more sense when I read or listen to what Dean has to say. I just appreciate the fact that he takes the time to share his knowledge and experience with all of us. We wish you continued success in all you do! Happy Halloween. Believe and Achieve! - Joe

It sure is great to be Friday, isn't it? The entire work week has come to an end and now we prepare for the weekend and the tricks and treats of another Halloween. Be sure to stop at your local store and pick-up an extra bag of candy for those trick or treaters. Make sure you get the candy you like because if it is a slow night, at least you will have some candy for the weekend!

I spent some time today on the MLS to look at new listings. I did not find anything that was too interesting. However, I like to keep up with the new properties as they get listed. I will probably drive my neighborhood in search of any new FSBOs and I may even stop at an open house or two over the weekend.

I had a little bit of a rough day today because I became disappointed with the actions of one of my co-workers. In Dean's Book "Totally Fulfilled" he discusses the importance of a person's reputation. A person should always be of integrity and keep your word with people to have a good reputation. I believe this is an excellent rule of thumb. So often than not, there are so many great points that Dean provides to all of us beyond real estate investing. My co-worker who I have known for many years made a committment and then did not keep their word. This was very disappointing to me because this co-worker made several other workers lose credibility with this vendor. I could not believe she would do this to this vendor and members of our staff. Therefore, it is a very important reminder to always be ethical and a person of your word whether it is in real estate or life in general. Stand up for what is right, make a difference and be that difference for other people. This will make each day a little brighter for everyone.

I hope everyone has a terrific weekend and gets all the good candy on Saturday. That candy may lead to a "sweet tooth" for future deals! Don't forget to turn those clocks one hour back on Saturday night if you follow Day Light Savings Time. Happy Halloween! Believe and Achieve! - Joe

Thought I'd pop in quick and say hello.
It's so true about being ethical and a person of your word. Especially in a small town, word travels fast, and it's important to keep a good reputation in your REI(not just for that reason, of course).
Thanks, Joe, for all the good tips, advice, and insight you give every day. It's kind of like a daily column that everyone checks out for their lift of the day. And I am very excited for you and Stacey to be able to retire! Can't wait to see each new DG student enjoying the fruits of their labor!

God bless,

Rina

I am with you on that Joe, I too believe in being a stand up person and true to your word. when growing up i was taught that if you do something wrong you had to stand up and confess to it and accept the punishment. But in the end i think it made me a better person. some people lie because they are afraid of the consequences of owning up to what they did.
but continue on your journey, and i always look forward to your posts.
Richie

Thanks for the comments and additional insight. It is funny that sometimes people only think of today and do not think of the big picture of their future at hand. When making decisions it is always best to consider how and who those decisions will impact. In "Corporate America" sometimes we experience things that we strive to change. Some things we can change and have a positive impact, some things we can't but its great to try! I will be happy to leave "Corporate America" and pursue real estate investing full time. We look at each day as a new adventure and it is always nice to share that adventure with the (DG) family. We hope you and your family have a very Happy Halloween! Believe and Achieve! - Joe

Thanks for the comments and additional insight. You bring up very valid points here. It is like the old saying that when people "shake on it" or "give you their word" it should mean something. Unfortunately, today we find that some people may not practice this.

The way I look at it, is the sooner you learn this about others, the faster you find out their character and what they are made of. Inversely, as we experience people that "always do what they say they are going to do", these our people of intregrity that we want to be around and work with. I find that good hard working people make others better at what they do. When you can be around people that are more motivated or talented than you, it can motivate you to strive to be better at what you do. It almost feels like that "positive energy" can be contagious. We wish you continued success in all you do. Happy Halloween! Believe and Achieve! - Joe

Thanks for sharing your journal Joe. These are all good points.

Integrity and ethics are important in all that we do. For those of us that live our lives this way it doesn't seem there is any other way to live it. It's the Golden Rule and not only our lives but the lives of other people are so much better.

You have a great weekend! And Happy Halloween to you too.

Lea
SPR Property Solutions, LLC

Thanks for the nice comments. It is great that with real estate investing we can create win-win deals for each party involved. This makes for a better community. Have a Happy halloween! Believe and Achieve! - Joe

Thanks for the comments. That is what is great about the Dg community. We have many members that care about our communties and want to do the right thing. Therefore, we can and we will make a difference in our community! Believe and Achieve! - Joe

The rain had finally ended and the day was clear for the trick or treaters. It is funny that when I was young it always seemed to rain on Halloween. We woudl still trick or treat for hours. Now most community have the official 2 to 3 hours. I had a good time and it always takes me back to my childhood. The anticipation of deciding on a costume and then finally the big day arrives.

I am suprised that many of the homes in our market are not selling. I bet the prices will drop in November and there will be even more bargains available. At times a little extra cash would be handy to lock up and close a few more deals. Cash is becoming more and more appealing to sellers and if you have access to cash use it to your advantage. If you are in an area where the market is very slow find good target properties and offer 40 to 50% of the asking price. I bet you will be able to lock up a few deals.

There are other markets close to my target market that have seen prices drop like a rock. I may have an interest in this other area because it should appeal to renters if the units are priced right. I am going to continue to learn about this area and track sales and listings for the next month. In December and Janaury, I will feel ready to start making some offers based on where the market may be at that point in time. I am trying to figure out the timing of this local area market. I have a startegy and I am waiting to submit offers when I believe the time is right for action. Sometimes it is a gut feeling and a little luck along the way can't hurt either.

I hope everyone has a great weekend. If there is Halloween candy left over be sure to do your part and clear the bowl for next year. The candy tastes just a good in November as it did in October! Haev a great weekend and be sure to do something today to move you closer to one of your a goals!

HAPPY HALLOWEEN!

http://www.deangraziosi.com/real-estate-forums/everything-else/33435/wil...

Believe and Achieve! - Joe

Can you believe it is already November 1st? I hope you turned back your clock if you participate in Day Light Savings Time. How did you use your 25 hour day yesterday? The weather was great today sunny and almost 60 degrees. For November that is a treat considering snow is a matter of weeks away.

Everyone was out this afternoon doing yard work, cutting the lawn for one last time and raking up their leaves. I did see a few open houses and I stopped to get a flier and meet the host real estate agents. There wasn't anything special on the homes, I just like to keep up with whats coming on the market on our area.

Even if you have not completed your first deal, make sure you are staying active with knowing not only what homes are on the market for sale but what rentals are on the market as well. I did see a home today that had a for sale sign and a for rent sign. To me this could mean a motivated seller. Will they offer a rent to own? I don't know but ut may be worth exploring. thus, if yo usee any listings that are listed both for rent or for sale, there could be an owner financed deal there.

I hope everyone had a great weekend and will have a great week ahead. Make sure to check out the MLS listings on Monday afternoon for any new listings that may have been listed over the weekend. Is November your month to find another deal? It will be so let's make sure we take some action! Believe and Achieve! - Joe

Hello Monday! It was a glamorous day in the Midwest today. Picture perfect sunshine with temperatures in the mid to upper 60's. I was fortunate to have planned for a day off today as I needed to get some tasks and errands completed. Did you ever notice when you are off work or the weather is nice how fast the day goes by? Especially now with daylight savings time, it is getting to be nightfall even faster with shorter and shorter days.

I spent some time today looking through on-line at the MLS listings. I noticed a few higher end homes for our area the over $350k priced homes that have been foreclosed on. It is interesting to see that homes in every price range are being hit by the down turn of the market. I guess there can be opportunities in various price ranges in all markets.

It is going to be a busy week ahead as we plan for some real estate activites. There are a number of properties I desire to take a look at before Thanksgiving because if they are on the market after Thanksgiving I will go in with a very low offer. That way I can get some of the ground work out of the way today for my offers that I am planning to make tomorrow. Every property has the potential at being a good deal if you can get that property at your price.

I hope everyone has a great week. The deals are all around us, maybe around the corner or under a pile of leaves. Keep looking for them! Good luck to having a productive Fall where you can rake up the deals! We just have to make sure we see the deal and move on it while the opportunity is there! Good luck this Fall season. Believe and Achieve! - Joe

Been skimming your journal but don't have much time left today. I look forward to reading more of how you and your wife, Stacey, spend your days REI-ing. I'm sure it'll give me better insight of what I should be doing each day. Thank you, and Stacey, for great ideas on how to go about this REI journey we're on.

Thanks for stopping by my journal. It has been a real adventure these past 6 months and I am happy to share with others the experiences we have had along the way. It has been a very good learning experience and we are so grateful to Dean for his books and programs. Dean's Gain the Edge Event in April 2009 really gave us the roadmap to take our action plan to the next level. Good luck with your future deals! Believe and Achieve! - Joe

Started reading from your very first entry and have gotten through the beginning of June 2009. You and Stacey are such an inspiration. You both are teaching me so much. I'm taking my baby steps right now to be careful. Thanks for the gems of knowledge woven in your daily REI activities. Keep up the great work!

Hi Ive been reading alot of your journal post and was wondering when you make an offer on properties do you have to give an earnest check everytime??

Thank you for the nice comments, we appreciate it. We are glad you found our journal informative. We are happy that we can share our experience with others and you can learn and benefit too. The key is to try to do a little each day to expand your real estate knowledge and that will move you closer to your goals. Realize your "WHY" and nothing will hold you back. You can do it! Believe and Achieve! - Joe

Welcome to the DG website community. The DG website is packed wih great information and inspiration. Thanks for visiting my journal and reading my posts. I do not always give an earnest check each time. I will email or fax a copy of my check or if it my real estate agent sends the offer, he has a copy of an earnest check. If an offer gets accepted the real estate has to deposit the earnest check into their broker's escrow account. So for every offer that is accepted you need to submit the earnest check and I would make sure to get it to them right away. Always keep your word and do what you say you are going to do. I hope this helps. Good luck with real estate investing. Believe and Achieve! - Joe

The weather was back to being sunny but a little brisk. Temperatures were in the low 30's as my car windows had a slight fog. Soon the time will come to transition from the jacket to the winter coat. This is the time of year where you need to get the window ice scrapers out of the trunk because before long you will be scraping the light ice off your car windows and asking yourself what happened to the Fall season?

I read several real estate stories on the web. I usually enjoy reading real estate stories from several different newspapers because it gives me a propsective of what is going on through-out the country in terms of the real estate market and perceptions. I may not agree with all commentaries in the articles but it is interesting to see how others view and think of the current real estate market. I believe you can create your own perspective and outlook based on the information you gather.

As you are looking at making offers, remember the holidy season from now through New Year's is usually a slow time for property sales. Thus, sellers may become a little more motivated. So, in your local target area get a listing of all the properties that may be on the market as of today over 150 or more days. These sellers may be motivated in their price or terms during the next few weeks. Remember it is a numbers game and the more offers you make the more chances you may have of locking up a deal!

I hope everyone is having a great week. Remember to start off each day with that fresh new perspective and remind yoruself that today is another day you are moving forward with your knowledge, action and goals in real estate. I often believe that people may not see the progress they are making and need to celebrate each "plateau of success" as Dean has called it. If you are making progress each day with your To-Do list or goals, than you should be proud of your progress! Keep up the good work. You can do it! Believe and Achieve! - Joe

It was another cool crisp but yet vibrant morning. As I drove into the city almost all the boats were now gone from Monroe Harbor. I believe the boats are suppose to be removed from Lake Michigan by November 1 but it appeared, as though, there were one or two diehard boaters with their boats still in the water. It always feels like the Summer goes by so fast in the Midwest and we cycle and approach the Winter season faster than any other.

I checked out the MLS listings on-line today and there are a few listings that I will call on. I like to gather the information on what new properties were just listed in my target area (always be aware of the new listings) and track how long the prior existing listings have been on the market. Based on where the new listings are priced may determine if the property will be on the market longer or shorter than other similar homes. The strategy here is the more homes on the real estate market that are priced in similar price ranges at a period of time may determine how quickly the property will sell.

If a specific price range of homes is on the market for over 90 to 120 days and more new homes (new inventory) comes onto the market, it may extend the average days on the market (DOM) for all homes in that price to sell. This will create more motivated sellers. The longer a home is on the market, you should notice price reductions (those little down arrows next to the listing price) will start to occur. Time on the market and other new listings will always motivate a seller on price and/or terms.

Make sure you take action today. Are you watching your target market area each day to see what new listings have been listed and what existing listings have sold or expired? As you track this information it should provide a crystal clear view of what is happening in your target market area. The days on the market and the price homes are being sold at will provide a true snapshot in time of what the fair market value is at that point in time in your local area. Good luck locating and tracking that next potential deal. Believe and Achieve! - Joe

for your tidbits of insight each day in your journal. You always offer some interesting perspective or a way of seeing something, or the "upcoming market" or all kinds of innovative thoughts, and I so appreciate it.

It keeps me inspired, and encouraged that my baby steps today are leading to something big! You and Stacey have proven this!

I love watching the Edge DVD's over and over....always something new comes to me or relates to me MORE now than before depending on what I'm working on. So much in those videos to focus on, and it's like I want to start implementing something new EVERY day from The Edge! Baby steps...

Hope you have a great day Joe!
Louisa

Dear Joe,

I just read your last installment on 11/04/2009 and I like the admonition to keep up with your target area each day. The suggestion to keep track of days on the market and price reductions. I am doing those things also but the recommendation is additional push to keep from omitting that action. I have now established my real estate agent (I believe a real good one) and have now gotten my pre-approval letter to bid on a home that 4 years ago would have sold for as much as $300K but is on the market for $140K. I am bidding $90K and will see if this HUD home will be mine. I have a buyer that I believe will buy it cash (investor) and I will make a handsome profit. If he doesn't buy, I have another 4 buyers to check in with. I have an out in case it all falls through so I feel secure in this effort.

Tim

just wanted to stop and say hi joe and stacey!! i havent been on much and sometimes read your posts and dont have time to comment .so today i am going to make sure to tell you i enjoy your continued wisdom and positive environment that IS catchy !! agree with you on the integrity post a few days ago and believe this dg family including yourself has a boatload of integrity and a massive willingness to see people succeed!! your great joe!!
have a great day!!
jay

Thank you for stopping by my journal and providing the nice comments, I appreciate it. Each day I believe we all can continue to learn and expand our real estate knowledge. The good experinces and the bad experiences all assist in our knowledge expansion. (Hopefully we can keep the bad experiences to as few as possible as we continue on the real estate investing journey). The great thing about Dean's books, programs or even the EDGE course is that you can always learn and pick-up even more tips every time you go through it. Sometimes you can just miss tips and other times as your knowledge grows, you better understand the information or have more creative ideas on how to apply it. Keep up the good work and good luck on all your future deals. Believe and Achieve! - Joe

Thanks for stopping by my journal. I beleive the more information you may have available in real estate and especially about your local market, the better decisions you can make. Congratualtions for finding a good real estate agent, they can make all the difference in the world as you pursue future deals. It sounds like the HUD home has a lot of potential. You can always start with a low offer andgo up from there. It is a great idea to have multiple buyers or exit strategies lined up as it appears you do. Good luck on this potential deal and keep us informed as it progresses. Believe and Achieve! - Joe

Thanks for stopping by and visiting our journal. We appreciate all the kind words. This can be a very busy time of year and I am glad to hear things are moving along for you. Keep up the good work and I look forward to reading about your future deals. Believe and Achieve! - Joe