The Journal of the Daily Adventures of Indiana-Joe

Let it snow, let it snow, let it snow....only 4 days to go! Well, the big day will be here in 4 days! I know all the DG Members are on the "Good List", but there are probably a few bankers, lawyers, and realtors on the "Naughty List". Be sure to have fun this week and pick up all those last minute holiday items. The rush is on! We started getting some snow tonight so I am sure the morning drive might be an adventure. I will also probably have to shovel, so I am not looking too forward to that.

As the New Year approaches, I have spent some time reflecting on this past year. What a year it has been. I have had so much fun with real estate investing and have made so many friends on the DG website. I want to continue to expand my knowlege on real estate and share any tips, ideas or insight that I can. I know 2010 will be a great year for all, but lets make sure the end of 2009 is fun while it lasts.

I recieved a call from the real estate agent on the multi unit I looked at. They wanted to know if I had any "other questions." Probably the biggest question I have is the motivation of the seller. However, that is something they will not disclose. I may offer a low offer in the next few days, just to feel out the seller. The offer is so low if I get it great if not I can at least see their motivation.

I hope everyone has a great week. Be sure to have fun during the holidyas, relax a little and get ready for a productive 2010. As I have said before, "2010 is the Year of the DG Members Investors". Believe and Achieve! - Joe

The day started with about 2 to 3 inches of fresh white puffy snow on the ground. As I brushed the snow off my car, I now felt winter has officially begun. On my way in to work the snow plows were out in full force so the roads were not too bad. Another good thing about this week is a lot of people take the week off so traffic was rather light on the way into the city. The city looked festive with the fresh snow and all the holiday lights. Many of the large skyscrapes have colorful lights for the holiday season.

I spent some time around lunch looking at the new listings on the MLS. I also returned a few phone calls. It is a slow time with people not being very anxious to return calls. I also spent sometime looking through Craigslist and found a few ads to follow-up on. I am looking forward to Dean's live conference call tonight, 12/22/09. I enjoy the DG conference calls and always want to hear anything and everything Dean and his guests have to share. I usually go back and listen to the replay of the calls a few times to get any nuggets of information I may have missed during the live call.

In regards to locating deals, a key that I learned is try to get a routine of the places you normally look for real estate listings besides driving your local market area. This can include the free home books, the local newspapers classifieds, on-line ads, bulletin boards in stores, and listings sent by real estate agents. The more of a routine you establish for yourself each day, the more time efficient you can be as you review new potential opportunities. The routine then will become second nature as you scan your sources for any potential deals each day.

I hope everyone is having a great week, only 3 days to the BIG day! I know real estate investing can be hard work at times, but keep a positive attitude because good things will happen if you do the right things and are patient. The key is to keep being passionate and persistent and don't get discouraged. Each day you are learning more to help you when the deals start rolling in. Believe and Achieve! - Joe

There is more snow and only 2 days to go. The BIG day will be here in 2 days. I know many young children are marking the calendar each day in anticipation. It seems evey year I get older, the years go by that much faster. I hope each year to become a little wiser rather than just a little older. We had more snow today as the weather has had a little sleet, snow and rain. At least it was not too much snow and ice like some parts of the country are dealing with.

I called my real estate agent and went through a few property listings. I like a higher end home that is a REO but the bank is holding steady on their price. The bank wants $350k for the home and I offered $225k. The bank came down to $300k but I will only go up to $235k. I believe the home could sell with new paint and carpet quickly this Spring for around $300k. Thus, I want to have about a $50k window to work with. If the home does not sell in December, the bank may be a little more motivated to deal in January, so this is one home that is on my radar.

I spent some time on-line last night on the local MLS website and the DG website. I enjoy seeing the different properties and reading about the real estate market. Each day I try to learn at least one new thing to better prepare me for future deals. There are so many articles on real estate that is it easy to find the latest stats on home sales etc. I believe the more I understand about real estate and my local target market the better decisions I can make.

I hope everyone is having a great week as we wind down and get ready to close the book on Year 2009! It seems like this year has a lot of "story" to it that we will look back on and say, that is the year I decided to become serious about real estate investing. Can you imagine in 3 to 5 years where you might be? You might look back at 2009 and state I did not do many deals (or even any deals) in 2009 but it helped me to get where I am at today in 2013! So keep working hard doing all the right things and keep chasing the dream! You can do it! Will 2010 be the year that starts it all for you? It might be....it could be....it is! Believe and Achieve! - Joe

"You better watch out!
Better not cry!
Better not pout!
I'm telling you why,
Santa Claus is comin' to town!......"

Well, tonight is the night! I know all the DG Members are on Santa Claus's good list so tomorrow morning should be pretty exciting! I woke up this morning and everything was covered in ice. (Maui is looking really good right now!) ....Back to reality....It was like an ice rink just to walk out to my car. My doors were frozen but I managed to get open the driver's side door with my handy dandy hair dryer. (They sure come in handy this time of year!)

As I drove into the city traffic was almost non-existent. If it wasn't for the ice I probably would have made record time. However, I had to take it slow because no matter what type of vehicle you drive they all slide on ice. We have a few massive car pile ups last night. They shut down the Chicago Skyway for a while last night due to a 22 car pile-up. Then on I-88, I heard there was a 50 car pile-up last night as well

When I got to the office there was hardly anyone in our office today. We have a half of day so most people just take the entire day off. I wanted to come in to finish up some last minute items. That is the joy of running the Finance and Accounting Department....Payroll and Accounts Payable must go on!

Tonight, I have "It's a Wonderful Life" already in the DVD player and its ready to go. I want to see George Bailey realize he really has a wonderful life as he saves the Bailey Brother's Building and Loan, keeps building those beautiful homes in Bedford Falls and keeps Mr. Potter on edge by being "a boil on his neck"...as Mr. Potter puts it! "Remember, no man is a failure who has friends." - Clarence (the Angel)

I want to wish everyone Season's Greetings, Happy Holidays and a very Merry Christmas! Enjoy the next few days with family and friends! It is the most wonderful time of the year! As for Santa Claus....don't forget....You have to BELIEVE to Receive! Ho...Ho...Ho! ..... Merry Christmas! - Joe & Stacey

On the First Day of Christmas
My Realtor sent to me
A Probate Property with a Pear Tree!

On the Second Day of Christmas
My Realtor sent to me
2 Tax Sales...

On the Third Day of Christmas
My Realtor sent to me
3 Foreclosures...

On the Fourth Day of Christmas
My Realtor sent to me
4 Calling Contractors...

On the Fifth Day of Christmas
My Realtor sent to me
5 Golden Books!
(Think a little Different, Totally Fulfilled, Be A Real Estate Millionaire, Profit from Real Estate Right Now and Your Town Your Real Estate Profits)...

On the Sixth Day of Christmas
My Realtor sent to me
6 Great Deals just a laying...

On the Seventh Day of Christmas
My Realtor sent to me
7 Short Sales a Sinking...

On the Eighth Day of Christmas
My Realtor sent to me
8 Motivated Sellers a Moaning...

On the Ninth Day of Christmas
My Realtor sent to me
9 Lease Options Dancing...

On the Tenth Day of Christmas
My Realtor sent to me
10 Lawyers a Leaping...

On the Eleventh Day of Christmas
My Realtor sent to me
11 Private Money Lenders a Piping...

On the Twelfth Day of Christmas
My Realtor sent to me
12 Deals a Drumming!...

We want to wish all DG Members a very joyous holiday season. The new year is almost here and it will be a fresh start filled with plentiful opportunity for all! I know we can and will make a difference in 2010! Merry Christmas and Happy New Year! - Joe & Stacey

TO: Santa Claus
FROM: Indiana-Joe
DATE: December 25, 2009
RE: Reminder - Dear Santa Claus, Please reserve my copy of Mr. Dean Graziosi's new book "Your Town Your Real Estate Profits!" this year!

Dear Santa Claus,

I know it is only October, but I wanted to beat the holiday rush and get you my list extra early this year. I have worked extra hard at being good, even though at times, especially in this economy, it has been challenging. There were a few real estate agents, lawyers and bankers that I did get angry with but I did not call them names until after I got in my car or hung up the phone.

I have been good all year but especially this Summer as I shared my real estate deal list with other buyers and sellers. I even have helped bankers with their REOs, so I hope this gets me extra credit!

Thus, can you please reserve me a copy of Mr. Dean Graziosi's new book "Your Town Your Real Estate Profits!". I do not care what color the cover of the book is, but we know that the yellow with red lettering cover or the dark green cover is probably going to be the biggest choice by most of the other boys and girls this year over the blue cover, light green cover, yellow with blue lettering cover or the white covers.

I know Mr. Graziosi's new book will be the top request this year of "hot requests". I know his book will be a bigger request than the "Tickle Me Elmo doll" or those "Cabbage Patch dolls" from year's past. I could imagine how you must have been over loaded with requests during those years, so that is why I wanted to get my letter in to you extra early this year!

If I am lucky enough to get Mr. Dean Graziosi's new book "Your Town Your Real Estate Profits!", I will play nice and share the book with my wife, Stacey. I really appreciate your time and all the past great gifts including the Matchbox cars, the official Chicago Bears team jacket and the Monopoly board game.

P.S. The usual Mrs Field's chocolate chip cookies, the X-Large Sausage Chicago Deep Dish Pizza, and the glass of milk with the 2 liter of Coke Classic soda pop (for the road trip) will be under my tree!

Yours truly,

Indiana-Joe

......The BIG day has finally arrived! Christmas Day! MERRY CHRISTMAS to all! I hope everyone is having a tremendous Christmas holiday, as we just finished opening all the great gifts. There is nothing like experiencing the joy of Christmas through the eyes of children. I want to check out the DG website before our family and friends arrive to celebrate the holiday. Christmas is such a wonderful time of year and I really enjoy sharing the holiday with my family, friends and this year all our new friends on the DG website community!

Today, I am not only a year older but rather a year wiser! I have grown and learned so much about real estate from Dean's books, programs and the DG community. As we get a little older we wish we would have known things earlier in life but that is what makes life so interesting. I am so grateful that 2009 was a year of faith, hope and provided us with a new direction. Everyday is a day which is filled with a new adventure!

I will check out more stories on the DG website and read a few more real estate stories. I have to help get the house ready for our guest which should be arriving within the hour. I am sure it will be a great time with even more memories to be shared and made. Be sure to take plenty of pictures and share those tasty fruit cakes with the entire family. I did get a tasty fruit cake but also picked up a Fannie May Chocolate Santa Claus! Santa weighs more than 5 pounds and is almost 2 feet tall!

I want to wish everyone a very Merry Christmas! I hope Santa brought you everything on your list. Remember next year is almost here! It will be a prosperous new year for all. Lets make the commitment today that we will strive for a better 2010 and this time next year we will reflect back on all we accomplished in 2010! You will have a great year! However, enjoy today and carpe diem! (seize the day) Believe....Receive....Achieve! - Joe

HAPPY BIRTHDAY TO YOU!!!!!!!!!!!!!!

God Bless you! Thank you for all that you do for me and for touching the lives of so many. With you as my best friend, my husband, and my partner I know our plans and our dreams will come true because we believe. Thank you!

I just wanted to wish you a Happy Birthday and Here is to Many Many Many More to Come.

Carpe Diem
Stacey

Happy Birthday! I laughed about the over 5 lb. chocolate Santa, nice.

Lea
SPR Property Solutions, LLC

My fault Joe! I was so busy thinking about myself with the last post I sent to you that I forgot to wish you a happy birthday bro! Congrats man! Hope you and your family have a happy and healthy holidays!

HAPPY BIRTHDAY TO YOU!! may you enjoy the holiday AND your birthday as much as we enjoy your posts and insights along with all the help you give,advice,and encouragement you share.god bless you and your family!!
jay

Thank you very much for the birthday wishes. As I get older it does seem like the birthdays come faster as time moves at warp speed. I had a wonderful Christmas yesterday and was able to celebrate the holiday and my birthday with family and friends. It is always pretty cool to have my birthday off from work each year as we have birthday cake on Christmas Day! Thanks again for all the well wishes, I really appreciate it. Believe and Achieve! - Joe

Snow, snow, and more snow. I knew we could not make it out of December without a major snow storm. Today, it snowed for most of the day and most area got over 1 feet of snow. We got a little less but it is still an effort to go outside and shovel the sidewalks and clear of the car. We had a freezing rain/snow so the car doors were a little frozen and hard to open.

I went to the grocery store to do some shopping after the food pantry was cleared from the Christmas holiday feast. I checked out the bulletin board at the grocery store and got one ad to follow up on. On the way home I spotted a few new listings that I will check out on the MLS when I got home. Later in the day, I read some real estate articles on-line and spent some time reading on the DG.com website.

With the winter, sellers usually become a little more motivated due to less foot traffic and fewer people like to move in the winter. So make sure you try to make offers to these motivated sellers because I believe this is the best time of the year to pick up some great deals. ("Its the most wonderful time of the year...") The more offers you make the greater chance at landing that next deal.

I hope eveyone is having a great weekend and enjoying those left over turkey sandwiches. It is almost as good as left over pizza because it can taste almost even better the second day. Keep the action plan in gear and lets try to see if we can locate a deal before the end of the year! Believe and Achieve! - Joe

Everyone must be getting a good workout shoveling snow. It is even cold here (SE FL) some days in the mid 40's.

It was very kind of you to remember your local food pantry, they need help. We got a letter from our accountant asking for a $10 donation to our local food pantry or 10 non-perishable items can be dropped off at her office and in return her clients will receive a $15 discount on their taxes.

Lea
SPR Property Solutions, LLC

We were lucky in Philly. Even though we got major accumulation we were lucky enough to have 2 days of rain right behind it. So, we were only digging out for a day before the rain came and cleared (almost) the snow away. Just got the foreclosure alert. Any suggestions on an action plan to using it the most efficient way would be welcome guys.

That sounds aweful cold for the sunshine state! I hope today is a little warmer, I know its orange and grapefruit season so I hope they don't freeze! Many not-for-profits are feeling the pinch of the economy. The need definitely outweighs the funds that are available. Whenever it is possible it is always nice to give back and help others in any way that you can. It can be as simple as helping the food pantry donating unwanted clothes, or giving a few bucks when possible. Together we can all make a difference. Believe and Achieve! - Joe

Glad to hear the snow is gone for you. We are getting more as I speak. My shovel will be working overtime this weekend. In regards to the Foreclosure alert system, try to determine the local target market area you are most interested in. Depending on the size of the town or city you might even be able to narrow this down by zip code. I believe as foreclosure hit the market in your target area that you specify, you will be alerted by email. You may not have an interest in every foreclosure in your area but it helps to keep up with the market and have as much information as possible to make decisons and draft future offers. I hope this helps. Good luck with this alert system. Believe and Achieve! - Joe

I finally found someone to help me. This company did an MLS search for REO properties, but didn't come up with anything; to my surprise. However, he did print out some houses that were on the MLS that weren't REO, preforeclosure or shortsale. How do I negotiate with these? Can I still get a discount if these properties aren't REO, preforeclosure or Shortsale?

Also, what is in an REO packet?

Thanks again. I hope you had a wonderful holiday.

You are looking at getting a property for as much off of fair market value as possible by finding motivated sellers. When it comes to finding deals you are looking for motivated sellers that are eager to sell. Motivated sellers can include short sales, REOs and foreclosures.

However, there are all kinds of motivated sellers. The longer the property is on the market the more motviated a seller gets. If a proeprty is vacant because a seller purchased another home they are probably motivated. If a seller gets relocated out of town and must sell their home they could be motivated. If a property is part of an estate and is in probate chances are the sellers are motivated.

Thus, have your real estate look for potential motivated sellers and make offers. Your real estate agent can search the MLS for hot words such as "reo, bank owned, motivated seller, probate, divorce, relocation, estate sale, court approved sale, bank approved sale, etc. The more motivated the better the deal. It may take a lot of offers but it will be worth if when you get a great deal. Good luck finding that next deal. Believe and Achieve! - Joe

Thanks Joe for sharing all the info. I always learn something new when I follow your journal. God Bless.

Sandra

Thanks for stopping by. I hope you had a great weekend and getting ready for a fabulous and profitable 2010. This is going to be a great year for all! Believe and Achieve! - Joe

The day started with more snow as we were still shoveling out from the Saturday storm. Everything was covered with a fresh white blanket of snow. The temperatures were in the 20's with a wind chill in the single digits. It was shaping up to be a good day to stay inside, relax and maybe watch a little television. It is hard to believe that the Christmas holiday was over and now we are headed full steam ahead toward the new year...2010!

Like every new year that approaches, you may set goals to help stay on track. Just make sure you keep yourself challenged but don't set the bar so high each and every day. You want to achieve a small goal each day and the small goals will lead to a larger goal! As Dean often has said, make sure you reward yourself for each plataeu of success you reach. It may not be where you want to end up, but you are one step closer to being where you want to be.

"A goal is a dream with a deadline." - Napoleon Hill

Later in the day I wrapped up some other tasks and things I had to complete. It felt good to bring a few home projects to completion and to be able to move on to the next task. I made a small list of additional properties to add to my radar (watch list). I will call and get some additional information, if they seem to be a "potential contender" I will make some time during the week to take a look at the best properties with the most potential. This will help me in crafting my offers and/or counter offers for these properties.

I hope everyone has a great week ahead and we go through this final week of the year! Can you believe 2009 is almost history and in the books? Thus, let's take the approach that we will make the most out of the rest of 2009 to give ourselves a jump start into 2010! "The Year of the DG Student Investors"! As I write this, I raise my Chicago Bears Mug filled with Coca-Cola Zero soda pop and toast each and everyone to a healthy, joyous and prosperous New Year! Let's make it happen in 2010! A year of new opportunities for all! Believe and Achieve! - Joe

Your daily adventure is always full of good words and I enjoy to read them. I haven't been on this site for a while lots of obsticles on my way but 2010 is around the corner.I'm going to make 2010 the best year for my family and I and I wish you the best for you and your family best wishes and best of luck.

That is really cute. Next time let us all make that a date and toast together online, maybe in one of the DG weekly Blogs. That will be really exciting. I have some things I am considering this year 2010. As they materialize, I will share, because I do not want to talk too soon. God Bless.

Sandra

Thanks for stopping by my journal, I appreciate the well wishes for the new year. I believe it is always important to remember where you came from but know and focus where your going and where you want to be. Your future is always brighter than your past! I believe 2010 can be anything you want it to be and if you put forth the effort, stay focused and work your action plan, great things will happen. I wish you and your family a very Happy New Year! Believe in 2009 and Achieve in 2010! - Joe

This sounds like a plan for 2010! We are going to be watching **** Clark's Rocking New Year's Eve special on ABC on December 31. I know New York Times Square is always exciting to watch on tv, so on 12/31/09 we'll be sure to toast all the DG Members as the new year is rung in. Chicago will be an hour later so it gives us a chance to celebrate more than once. So keep the East Coast rocking for a joyous and prosperous new year! I look forward to hearing about your future plans and deals. Believe in 2009 and Achieve in 2010! HAPPY NEW YEAR! - Joe

Indiana Joe. WHat would this site be with out you. One word BORING. Your posts rock. Some fall on the humor side and most fall on the "get y'all educated" side. Thank you for all that you post on this site. Oh, Happy b-lated Birthday.
Have a happy new year. I'm looking foreward to reading great posts from Indiana Joe!!

Thanks for the nice words and birthday wishes, I appreciate it. I really enjoy the DG website community and I think its such as great place for like minded to get together and share insight and information. The Accountant in me often looks at the costs and overhead of doing things or running a business. I often think how great is Dean to offer this free website for all to benefit and learn. It is just tremendous. I am so glad to be part of the DG website and I believe together we can all make a difference. Thanks again and continued success with all your future real estate deals! Believe in 2009 and Achieve in 2010! - Joe

Mondays are usually the hardest days of the week, especially the Mondays that follow an awesome holiday weekend! This Monday is no exception. As the clock on the Year 2009 clicks and ticks away, we are left with 3 days for the year and the decade! Time sure goes by fast, doesn't it? As we move through another decade it is amazing to see all the technology advances and what new addventures the future may hold. It is always an exciting to look towards a brighter future.

Sometimes I think about special days during the year whether they are birthdays, anniversaries, or holidays. We look forward to these special days. I believe we can make every day a special day if we choose to. On those special days the sun is brighter, the air is fresher and we often feel really good. It would be great to have that feeling everyday or at least create your own holidays or special days through-out 2010.

I went to finally see the multi-unit that I have had on my radar the past few days. It needs work but definitely has potential if I can get it for the right price. It is in a good area and would appeal to many renters. It just needs some work and updating. I will probably craft an offer through an email it to the listing broker. It is funny as I spoke to the listing broker he told me how another broker had the listing but did not sell it. I stated that their was no sign nor did the other broker post the listing on the MLS. It was interesting to hear that a REO was "for sale" but did not even have a sign in front of the property. This is something to think about for future opportunities.

I hope everyone has a terrific rest of the 2009 week. If you acquire some properties in 2010, those properties could be paid off by the next decade. Can you begin to imagine what a property purchased in 2010 would sell for in 2020? Will 2020 be the start of the biggest real estate boom in history? How many of you want to be part of the next real estate boom? Let's continue to take action in 2010! Believe and Achieve! - Joe

ok...I'm stuck on stupid. Sorry to keep on bothering you. I will use the below formula from nstreet to get my offer price. I'm going to go after Luxury properties because there are more of them out her in CA.

Value of the Property
- 20-30% for end-buyer profit (since I'm double-closing)- anything that make me be able to sell the property at 30% below market value
- Profit of at least 10%
- Closing costs (3% of the value)
- Realtor Fee (6% of the value)
= the most I will offer on the house.

Does this offer sound ok? Or is this too much. In my letter, I'm offering to pay closing costs, inspection period is 10 days, paying all cash, and close within 30 days. I'm not sure about the realtor fees since I have someone helping me with that.

Your advice is greatly appreciated. Thanks for all your help. I will owe you big time for all the help you given me.

Anne