The Journal of the Daily Adventures of Indiana-Joe

...Friday fever is here! I know many people in my local area already have Spring fever even though the temperature went from 30 to 65 back to 40. This is the time of year where we can see the temperature drop 20 degrees between morning and evening. It is funny at times because people may ride the train into the city with no coat and then run to their cars when they return because the weather has shifted on a dime.

This weekend I am going to meet with a friend that wants to consider real estate investing. He told me he is retired and is tired of earning 1% interest on his savings account and wants to consider soemthing with a better return on investment. Him and his friends sit and complain in places like Panera Bread or the local Starbucks every morning but they do not do anything about it. It makes me think there must be plenty of potential private lenders having breakfast and complaining about the bank interest rates at your local eateries. I don't mind spending some time covering options because if he does not want to take the plunge with real estate investment, he could work out as a private lender. Thus, creating a win-win for everyone.

As I have discussed, once you meet Asset Manager's the deals will start to come to your in-box. I received an email the other day from an asset manager that has a huge parcel of land as an REO. The bank wants to move this parcel with has frontage on a major road. It is interesting to see the various types of REOs from residential, commercial and land. The opportunitites can be endless if you can bring the buyers and sellers together and see the opportunitites as they present themselves.

I hope everyone has a great weekend ahead. Also, make sure to share what you learn along the way with real estate investing so others can benefit from the knowledge. The more we share, the more we are helping ourselves. I enjoy hearing the end results of successful entreprenuers but the real lessons are found in the journey it took to get there! Believe and Achieve! - Joe

“The road of life twists and turns and no two directions are ever the same. Yet our lessons come from the journey, not the destination.” ~ Don Williams, Jr.

...There was a chill and rain in the air, as I ran a few errands on Saturday morning. As I drove down a street to a grocery store, I happened to catch a sign on a light pole near a small home. The sign was 6 inches tall by about 10 inches wide. It read "For Sale By Owner" with a phone number. I just could not believe it, I saw another small sign smaller than a license plate (or "tag" if your prefer) on a car. I can't believe in the past few months how selelrs will use these tiny small signs. I called and did not get an answer but I will follow-up today.

I just want to tell everyone to keep your eyes open when you drive your local target market areas. If your kids or friends are with you, tell them to be on the lookout to try to spot out the for sale signs. Sometimes they are large and in the front yard or on a pole. Other times they are small, in a window, falling over or like this one on a light pole. The best deals may turn out to be the ones that others simply do not see.

I had another idea to share. It may be useful to some. As it is very important to build a buyer's list, it is just as important to build a "future partner" list. Make 2 "partner lists". Those potential partners that have available cash and those partners that may have a trade or somethign else other than cash. As you locate a killer deal and cobsider buying and holding it, you will then has a list of potential partners, if you get it no money down and need work or if you need some money just go to the list. I recently had a friend that is a pilot that makes good money. He wants to get involved with real estate. He has the cash but not a down payment. We discussed buying a few properties together. Thus, he is on my partner list. This partner has cash, but lacks experience in real estate and lacks the time due to his flight schedule.

I hope everyone is having a great weekend. Make sure you do a litle this weekend to get you closer to your goals. When you pursue your real estate goals, you are opening up future possibilities. Keep the dream going and full steam ahead! Let's find a great deal this weekend! Believe and Achieve! - Joe

P.S. Day Light Savings Time this weekend. Don't forget to "Spring Forward" and moves those clock ahead by 1 hour! (if appliable for your time zone of course)

“A business leader has to keep their organization focused on the mission. That sounds easy, but it can be tremendously challenging in today's competitive and ever-changing business environment. A leader also has to motivate potential partners to join” ~ Meg Whitman

WOW! I am new to the site and real estate, so I am very overwhelmed yet excited. So excited, I have spent the better part of 2 days researching this site and reading your motivating journal from start to finish. I am a recent college graduate and am learning so much through your writings on how to capitlize on real estate. My question to you is, Since I lack experience and assets, How should I begin with real estate? I have been researching my market and REO's in my area as well as auction homes and preforclosures. I see great ways to capitalize, but I dont know how to begin. Do I aquire a team? Im bursting with excitement!!! I want to begin but don't know where to start. Please help.

Welcome to the DG website and congratulations for completing your college degree. Benjamin Franklin stated one of the best investments you can make is in your education. In regards to real estate investing, I would recommend a few things to get started:

- join a local real estate investment club and network, network, network
- work on assembling your A-team of real estate professionals. You may meet contacts or get referrals through the real estate club
-drive and get to know you local areas. Try to learn about fair market values (FMV) in the target market arease you may choose to pursue to invest in

No matter your exit strategy for what you choose to do with real estate investing by doing these above items it will better prepare you. Once you have a good idea of the FMV, you can betetr spot what is truly a deal. Try to learn a little each day and you will soon be closer to your goals. Good luck with real estate investing. Believe and Achieve! - Joe

...I woke up early to hit the ground running. I had to turn several clocks ahead by one hour due to Day Light Savings Time. I enjoy the longer daylight, but it can take a day or two to get use to the one hour difference. I know Spring has to be even closer so I am looking forward to the warm weather and sunshine!

As we drove and went to the lcoal Target store, I also stopped off at the Dollar Store. The Dollar Store is a favorite stop for my eBay/Craigslist adventure (see that journal for more info). I also stopped at Dairy Queen to get a few sundaes. They seemed smaller or either my hand is now larger, but in any event they were a tasty treat!

I stopped at an open house by a FSBO. I enjoy FSBO open houses because you can speak to the owner directly without even having to call. The home was ncie buit a little higher priced than what I would be lookign for. A tip here is always leave a card and state "you have a nice home, it is higher than what I would like to spend, if you become flexible on the price please send me an email." This allows the seller another option if the home does not sell. You also get the sellers email and I find it is easier to make offers over email than over the phone. By email they can think about the offer and not give you a hurried response.

I hope everyone has a great week ahead. Don't forget check the Sunday paper for deals, Craigslist for deals, get the new free home book, contact yoru relator for any new listings and drive a new area tomorrow. The deals are all around, have you driven by one today? Good luck locking up the next deal! Believe and Achieve! - Joe

"We keep moving forward, opening new doors, and doing new things, because we're curious and curiosity keeps leading us down new paths." ~ Walt Disney

...Another week has begun as we are approaching the end of the first quarter of the year 2010! Wow, where is the new year going? (Time flies, doesn't it?) Just like a good football game, if you did not score in the first quarter (with any real estate deals)you have 3 more quarters (for this year) to go! Are you at least in the game? On the sidelines? Or even at the stadium?...... If not, then map out your journey and get there, get there as soon as you can! Now is the time, the market is still right to fidn some awesome deals.

I sent out an email today to all my Asset Managers that I have contacted in the past. I wished them a "Happy Monday" and just requested any updates they had about REOs they may have taken back or will take back in the near future. I recieved a reply from everyone except 2 managers. One manager did not reply, the other asked that I call rather than have them email me the list. I am not kidding when I say they had businesses, huge commercial acreage parcels of land and single family homes. A mid-size bank that I started to talk to in Indiana connected me to their "REO Asset Management" department in Illinois. I requested a list and they forward me a 5 page list of REOs in Indiana and Illinois. Can you believe 5 pages of REOs? There were some area I had an interest in ad will follow up with.

The point of the story is once you do the ground work to establish these contacts they are rather easy to send an email as a follow-up. The key here is keep a balance of emails to be inquiring often enoguh without being a pest. I usually ask if they are going to be taking back a property when would be a good time to check back. For example, one bank told me they may be taking back a 10 unit apartment complex and will know more by May. Thus, I will be contacting that REO Manager in mid to late April to inquire about the status of this 10 unit.

I hope everyone is having a great week. Remember there is still enough time left in the year to jump in, make offers and make something happen. Get in your car and drive the area, you never know what you may find. You can do it! Good luck with real estate investing! Believe and Achieve! - Joe

“Ability is what you're capable of doing. Motivation determines what you do. Attitude determines how well you do it.” ~ Lou Holtz

..The day started out sunny and then hit a high of 58 degrees. Spring is in the air as we eagerly await for consistent above 50 degree weather. It is nice having day light when driving home, since we moved the clocks ahead this weekend, for Dalight Savings time. It looked kind of cool to see large ice chunks floating in Lake Michigan. It was almost as though they were mini icebergs. By the end of the day they have melted and it was just pure blue water. Even though its a great Lake its still as scenic as an ocean as you watch the water shimemr and glimmer as the sunligth touches down.

I called on a few listings I saw on the MLS. I am waiting to get some general information. The multi-unit that I have been trackign went contingent. That's ok, because in this business it is better to pass on a few deals then over pay for one. One bad deal can linger with you longer than a bad bowl of chili! Thus, never worry about the deals you may have missed, because you then may miss new ones right ahead of you you don't even see. When you look back it is hard to see what is right in front of you.

I spoke with some friends later in the day. It is always fun to speak with others about real estate investing. Each day can be a new adventure and it is rather fun to share in the knowledge and the excitement. I am lookign forward to going to the live EDGE event in May. I really enjoyed my time in Arizona and all the information that was covered last year. I decide to buy a new swimsuit for the pool. You ever notice that a swinsuit is usually something you do not purchase as often as you should. At least I never did. My old swimsuit from the late 1990's will finally face its retirement.

I hope everyone is having a great week. Be sure to take action and create some opportuntiies this week. You never know what door or widnow may open up for you! Good luck with real estate investing. Believe and Achieve! - Joe

“Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did do. So throw off the bowlines, sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” ~ Mark Twain

...Well, Spring has to be a little closer today as I check the calendar and it is St. Patrick's Day. This is a big event in Chicago where they dye the Chicago River green and many restaurants feature green beer and corn beef and cabbage as their special of the day! It is a day where everyone can have some fun and celebrate!

Around lunch I took a walk to the Chicago River to see the green in the river. It was pretty cool and I often think about being downtown as much as i am but I usually don't take the time to enjoy the big City like most visiting tourists. There is always so much to see and do but when you are here everyday you may forget all there is to offer.

I often think about our neighborhoods that we live in. We see things everyday but we may become too comfortable with our surroundings and miss opportunities that others may see. Others from out of our area may see things we don't see or view things dfferently in our local neighborhoods or potential target markets. So here is a task for the weekend. Drive you local neighborhoods like it is your first time through the area. What do you think about the area for buying or renting a property? What you determine from you driving around is you may find area to invest you never considered before. A key is an area that you invest in does not have to be an area youy want to live in. The area can be more upscale or less upscale then where you live now. The key is fidning an area that appeals to the target market you are trying to attract - future buyers or future renters.

Good luck with your driving your local areas this weekend. Make sure you have some fun today and celebrate responsibily. Don't eat or drink too much as we ring in the Spring! Good luck finding your pot of gold at the end of the rainbow! May you have the luck of the Irish today! Believe and Achieve! - Joe

* * * HAPPY ST. PATRICK'S DAY! * * *

"May the strength of God pilot us, may the wisdom of God instruct us, may the hand of God protect us, may the word of God direct us. Be always ours this day and for evermore." ~ St. Patrick

"St. Patrick's Day is an enchanted time - a day to begin transforming winter's dreams into summer's magic." ~ Adrienne Cook

"May St. Patrick guard you wherever you go, and guide you in whatever you do – and may his loving protection be a blessing to you always." ~ Irish Blessing

"May you live as long as you want and never want as long as you live." ~ Irish saying

* * * HAPPY ST. PATRICK'S DAY! * * *

just thought i'd check in,i have to keep up with your new posts as i read through the old ones or i'll never catch up lol.i'm so excited to be going to the edge event.i've been a little worried though because dgadmin. still hasn't pulled the first 99. from my card yet but i called customer care and they told me they still hadn't processed everything yet.still you know,the anticipation.oh well gotta go read on my book more.as always keep moving forward,rob

Thanks for stopping by my journal. Yes, the EDGE event is oging to be packed with a tremendous amount of information. We are very excited about going too, and often count the days on the calendar. Its hard to believe it is 9 weeks away! Have a great weekend. Believe and Achieve! - Joe

...Spring is officially only 2 days away! Can you feel it? Chances are if your in a warm part of the country you can. I enjoy seeign everyone outside raking their lawns with a sweatshirt as the Midwest spring fever is off an running. This may be the best weekend to check-out new listings as people are out and about. If there is an opebn house or two this weekend, go check them out.

I called on a few listings and a few properties that I had on my radar fell off due to a sale. That's ok because I usually add a few each week. The key is to move on and keep the search going. Pretty soon as the grass begins to grow look at the very laong longs for potential vacant or neglected homes. These could turn out to be a gem if are are able to work out a deal.

I am receiving door hangers for lawn care and other services. This may be an opportunity to find the people passing these items out and see if you want to cover a neighborhood with fliers that "we buy homes" here is an opportunity. Also, these people could be potential bird dogs and if they spot a vacant or neglected home they could contact you. Be sure to network and see what options there are. The more you get the word out, the better chance you will be able to lock up more deals!

I hope everyone is having a great week as March Madness begins. I know several people miss their favorite tv shows duuring this time of year. So, if your show is not on tv then now is the time to put a few more hours into your real estate investing efforts. Believe and Achieve! - Joe

“True friendship multiplies the good in life and divides its evils. Strive to have friends, for life without friends is like life on a desert island..to find one real friend in a lifetime is good fortune; to keep him is a blessing.” ~ Baltasar Gracian

..Friday is here and the weather is just fabulous. It is sunny and 65 degrees in the Midwest! I can't believe it is no jacket required! There are joggers and people riding their bikes all along the Lake Michigan lakefront. It feels good that Spring is getting a little closer each day.

I was driving on the expressway and I saw a billboard sign for a builder having a condo closeout. It mnade me think about an opportunity here. Isn't it funny how real estate is now all around us. The key is be committed to real estate and you will soon be on your way to achieving some of your goals for maybe getting our of debt or having a brighter future. The opportunity is here but the choice is up to you to take action. Be loyal to yourself, loyal to others, and loyal to taking action with real estate.

The tip of the day is do a little research on some of the builders in your local area and see if there are any opportuntiites for a builder financed deal or a builder close-out special. There could be an opportunity here depending on your local area and the motviation of the builders that might have slow moving inventory.

I hope everyone is having a great Friday and has a nice weekend planned ahead. Make some time for relation, fun and real estate investing. This could be that weekend that starts you on the fast track toward success. Good luck with real estate investing and locating those deals. Believe and Achieve! - Joe

“Lack of loyalty is one of the major causes of failure in every walk of life”
~ Napoleon Hill

....The weather turned on a dime and we are having cold, wind and snow...yes snow! Just when neighbors thought it was safe to get out their rakes and start raking their lawns, the rakes were replaced by snow shovels. Hopefully, it won't be long until we can put away our snow shovels until next winter season.

I drove the local area to see if there were any new FSBOs. I noted a few that I will call on later in the day. It is always a good idea to take a notebook with you to take notes, write down numbers, or to put fliers into. That way you have place for all your information and you won't be lookign around for that napkin or piece of paper you wrote that FSBO number down on.

On Sunday, there will probably be even more open houses now that we are in March. I like oging to FSBO open houses to meet owners and talk immediately about their properties. I will also check out the Sunday paper and make a few calls on any new listings or other open houses that may be hosted by realtors.

I hope everyone is havign a great weekend. Be sure to do a little this weekend to get you close to your goals. Have a plan, work the plan and achieve your goals! You can do it! Believe and Achieve! - Joe

"Setting a goal is not the main thing. It is deciding how you will go about achieving it and staying with that plan." ~ Tom Landry

...Sunday was off to a fast start as I woke up a little early to read the Sunday papers on-line. I spent sometime looking at real estate listings on-line and on the DG website. I went to Mass on Sunday and it was interesting that the message for this Sunday was don't worry and look at the past that better things are yet to come in the future. This was rather inspiring as mamny people today are facing challenges and hoping for a better tommorrow.

For lunch we drove to Olive Garden which was very crowded. The food was good but stayed with me for most of the afternoon. We went to the mall and then drove around some new market areas. As I drove by a newer subdivision that was being built there was a vey large sign that read "rent to own homes contact theb uilder for more information. These homes were very nice and were probably priced between $250k and $300k. The point here is if there are DG Members looking for a deal for their own home this could be an option for them.

We also stopped at a few open houses. It was a good opportuntity to meet additional realtors in new areas. As the sun continued to shine we drove a few more areas and gathered a few more FSBO fliers. The day went by rather fast as the weekend came to an end.

I hope everyone has a great week ahead. Check out the newspaper and check out the classifieds on Craigslist. There are deals out there waiting for your call. Good luck! Believe and Achieve! - Joe

"Somehow I can't believe there are any heights that can't be scaled by a man who knows the secret of making dreams come true. This special secret, it seems to me, can be summarized in four C's. They are Curiosity, Confidence, Courage, and Constancy and the greatest of these is Confidence. When you believe a thing, believe it all the way, implicitly and unquestionably." ~ Walt Disney

...Well the weekend went by extra fast as Monday returned with gloomy overcast and chilly weather. My drive into the city was not as bad as many people may be out of town for the Spring break. Traffic was flowing without the normal bumper to bumper slow downs. Lake Michigan was rough and appeared to be a greyish blue as the waves slapped the shoreline with a little more force than normal.

I had several things for work that were pressing but was still able to call on a few listings that I needed more information on aroudn lunch time. I received a few counter offers from offers we made the prior week on a few properties. Sometimes it is a numbers game and I believe once the tax credit goes away. I believe several sellers will be a little more motivated as time passes.

I went on the web and was looking at business card designs and even found several print shops that did door hanger advertisements. This could be an option for a "we buy houses" advertising campaign but I do not want to scare off a few people if they believe the flashy ad is from a big company that can't help them out. The key to any marketing is try different things and track to see what works in yoru area.

I hope everyone is having a Magnificent Monday! The week will get better it just depends on how many potential deals you might look at this week. Be sure to get out there and canvass your local target market and start to make things happen. If you believe you can't find any deals, keep searching and expanding your target areas that might make sense. You can do it! Good luck and put forth the best effort you can this week! Believe and Achieve! - Joe

“Your big opportunity may be right where you are now.” ~ Napoleon Hill

Tuesday is here and the gloomy cooler weather continues. We are still waiting for our daily dose of sunshine. I know baseball is right around the corner so the weather should be getting better. I remember last year a few teams were "snowed out" on Opening Day. Therefore, we can't put away our snow shovels, just yet.

I contacted a few of the Asset Managers today and received some replies. There was nothing too special that they had sent over to me but it is always good to reach out and keep in contact. Once bank had a commercial building and some vacant lots. Neither of these items were appealing to me.

I learned another valuable point today when it comes to maximizing your revenue (and cash flow) with rental properties. I had a property where the current tenant did not want to use the garage so I listed the garage "for rent". In our area garages can be a premium and many people look for a garage to store an extra car or boat. I quickly rented the garage for a good price. Thus, I was able to collect more monthly rent by renting the garage and the home out separately rather than together.

Later in the evening I was reviewing some properties on-line. It is always good to know what is happening in your local real estate market. I added a few proepties to my radar, I watched a little tv and then called it a night. I hope everyone is having a great week and is finding even better real estate deals. There out there, just keep up the good work and you will find them! Believe and Achieve! - Joe

"The difference between a good idea and a bad idea is a cheque." ~ Dan Sullivan

...The day started out slow as I headed into work and was running a little late. I spent too much time on the computer checking out some of the new property listings and I let time get away from me. Isn't it always that way as you do something you really enjoy time just seems to fly by. It makes me think about the average day, do you do things that you enjoy for the better part of your day? We all have 24 hours each day, but how do we spedn those hours?

I try to keep a good balance between all my have to's and want to's. Some days are better than others. The key is just keep doing your best and keep the routine and systemes going. Before long things can happen. For example, if you had to post a bandit flyer in your local grocery store every month and it took you a 1/2 hour to drive their and back and put it up, you may have invested 6 hours of time over the course of a year. If you get one great lead form that one flyer and close a deal was that 6 hours well spent? You bet it was.

The key to remember is even the little things ad up. If you are not getting the responses you desire, then change your ads, or the content wordign in your ad, or the color paper used in your ad and maybe even where you are posting the ads. Try to keep track over time what works by generating calls and then repeat often! There are so many ways you can get the word out about your interest in real estate, try to think of at least 2 different things you can do tomorrow! The more creative the better.

I hope your week is going well. I hear the cold frigid weather is headed back our way. Even though the calendar is late March, it can still snow! Good luck fiding that next real estate deal and make sure you try posting some flyers just to see what happens! You my be surprised! Believe and Achieve! - Joe

"There is more treasure in books than in all the pirates' loot on Treasure Island and at the bottom of the Spanish Main ... and best of all, you can enjoy these riches every day of your life." ~ Walt Disney

good to see y'all.i have had a temporary setback concerning the edge event.it seems the payments are too close together for me at this time but i'm going to make it there somehow.just one nice deal and i'm there.the way i figure it,i'm already broke so if i make a little money and reinvest in a little edge education it can only speed my learning curve.feel free to come by my journal and visit or critique anytime.keep moving forward,rob

Thanks for stopping by my daily adventure journal. Glad to hear you will be attending Dean's Gain the EDGE event 2010. The EDGE 2009 event propelled us to take immediate action an we had a guidemap in place and an action plan to follow. I believe the 2010 EDGE event will even be better this year! We can't wait and are counting down the days to the BIG EVENT! Looking forward to seeing you there. Believe and Achieve! - Joe

Hi Joe

I wanted to get your input on a thought I was having regarding new REO's that hit the market. My agent has an auto system set up where I get emails on a daily basis of new properties that fit my requested criteria (that includes price drops of properties that were already listed as well).

Today my daily email came with a Bank Owned property listed at $270K which is about $30,000 below the FMV. The homes in the neighborhood are selling easily at $300K (and that's a conservative comparison as I'm trying to work with a large margin of safety).

MY QUESTION IS DO YOU THINK IT'S WORTH PUTTING IN AN OFFER OF $200K or $210K ON A PROPERTY LIKE THIS WHEN IT's JUST HIT THE MARKET AND THEY COULD CLEARLY GET A BETTER OFFER IF THEY JUST WAIT IT OUT A FEW WEEKS/MONTHS or so???

I feel l like the market here (seattle) is still moving slowly but is trying hard to start its ascent back upwards. I'm thinking my best bet would be to go after properties that are like this but still need some minor repair that your avg home buyer would be a little turned off by.

Anyway, Hope all is well with you and I enjoy reading your informative posts

Jordan

I believe the key with REOs is to make a lot of offers and watch the price adjustments on a lot of properties. The most important thing is profit margin because it gives you the most options (or exit strategies) of what you can do with the property. Most investors don't want an okay deal, as Dean often says they want killer deals.

Therefore, submit the lower offer and see what happens. A bank may have a lot of inventory and decide to just move some properties the day you submit an offer. It can't hurt. If you make multiple offers and get one to stick, it was worth it. Another point is see how many homes are on the market in the area surrounding the one you put an offer on and see what they have sold for in the past 3 to 6 months.

This should give you a good idea of price point. Once the home buyer tax credit ends, banks may have even more inventory because home sales may decline. Hope this helps. Good luck with REOs and real estate investing. Believe and Achieve! - Joe

...Thursday is here and you can almost just feel the weekend! I drove into work in the morning and at least it was sunny. There were plenty of joggers and bikers along the Lake Michigan Lakeshore. It was such a contrast by the end of the day as a cold front moved into the area. The wind was about 20 to 35 miles per hour and the waves were pounding the lake shore. The lake looked gray and white in color as there were white caps through-out the lake and the waves pounding the shore would create a large splash and mist. It was rather cool to watch from the warm car, but if you were out walking around it would have been a challenge.

I stopped at the local Staples office store and ran some bandit signs on bright yellow paper. I stopped at a few gas stations, grocery stores and the local laundromat to post these. I like to get these posted on Thursday evening because some of the largest crowds at these places are Friday through Sunday. This is a huge tip because your marketing numbers are based on 2 things, the opportunity for more people to see your ad and is the ad good enough to generate a call!

It is funny because Purdue University is in the NCAA Sweet 16 and it makes me think back to my college days. I had a marketing professor that would always say "Marketing is everything and everything is Marketing". This is so true in many ways, just as you can spend a lot or a little on your marketing efforts to generate calls. Use what works and learn what works. The reason I bring this up, is each day we are looking for great deals. The other approach to consider working on is concentrate a little on the things that can mahe deals come to you!

Have a great week and remember Friday is almost here! The weekend is your time to become the Real Estate Weekend Warrior! Do what you can today to make a difference for your tommorrow! What are you going to do to market your business this weekend? Good luck finding that next deal! Believe and Achieve! - Joe

"When we consider a project, we really study it--not just the surface idea, but everything about it. And when we go into that new project, we believe in it all the way. We have confidence in our ability to do it right. And we work hard to do the best possible job." ~ Walt Disney

...Friday is here and the weekend is lamost here! Hooray! As I drove into work, the traffic was light as many people started there long weekend or out of town plans early. It was a breeze into the city as i actually made it in about 1 hour. The ride home was just as good as it only took a little over one hour. The weekend is now in full swing.

I am going to look at 2 higher end hoems that are listed for over $300k. These homes had water in the basement due to when they were foreclosed the sump pumps backed up and the basements got 3 to 4 feet of water. This can be a real issue with mold or even the amount of work that may be needed. In the past few months I have seen a few home that had so much mold as soon as you walked in you could tell.

The key here is if you are not sure what to offer on a home like this, think about your offer and then go much, much lower. You want a home like this for a steal! There are so many properties out there there if you could do 2 to 3 deals in the time it may take for this deal, that could be an option. I always believe start out small with easier deals and work your way up to the most extensive rehabs if that is what you choose to do based on your local real estate market area.

I hope everyone had a great Friday and maybe it seven payday Friday! If so be sure to buy some goodies on the way home like a box of cookies or a pizza. Why not reward yourself a little for a job well done this week? What are your plans for Saturday and Sunday? Don't forget the best time to take action is today! Good luck finding that next real estate deal! Believe and Achieve! - Joe

"Before success comes in any man's life, he's sure to meet with much temporary defeat and, perhaps some failures. When defeat overtakes a man, the easiest and the most logical thing to do is to quit. That's exactly what the majority of men do." ~ Napoleon Hill

i have a question on your reo's.i see alot of foreclosures in my area but whenever i talk to a realtor they tell me i need to have proof of funds letter.my wife has just recently gotten her re licsence for md.she told me the firm she works for won't let her put in an offer on my behalf either.where do i go from here on reo's?should i just focus on another strategy for now?there's alot of deals that i feel i could put extremely low offers on but how if i can't get through the door?keep moving forward,rob

I would recommend that you find a "hungry" realtor that is willing to work with you. Also, you could find a partner that might have funds to get you started and if you locate an awesome deal they could provide the proof of funds letter via their banker, lawyer or accountant. Another approach is try to find local small community banks that have REOs. See if you can work out a deal with them. The small local banks or credit unions are usually more willing to deal on what they have available. As you progress with real estate you may develope your own niche based on your local area. Your niche could be assignmente, lease options, REOs, buy and holds, etc. Good luck and keep up the effort! Believe and Achieve! - Joe

thanks for the info joe.keep moving forward,rob

...Saturday was a quick feeling of Spring as the temperatures were close to 60 degrees most of the day. As nightfall was upon the wind and cool air changed for a 30 degree artice blast. Some people are getting the itch to plant a few things for Spring but it would be best to wait a few more weeks.

I did notice there were a lot more for sale signs that popped up this week. I drove through a more expensive subdivision where the average home is $275k to $300k. There were more than 25 for sale signs I saw and I would guess at least 80% of them were for sale by owner. It is interesting to see so many homes in a given area up for sale at the same time. The key here is to try to see if there are any motivated sellers. The more competition the better because sellers may be flexible on their price, terms or both!

Another tip I can offer is rather than take a notebook and pencil, take a digital camera, it is quicker and easier.
Just 3 steps:
1. Take a picture of the sign so you have a clear shot of the telephone number.
2. Take a picture of the property address number.
3. Take a picture or multiple pictures of the property.

If you see 10 or more homes in one day this is quick and easy to get the information and then call later about the properties.. If you save these on your computer by local area you are know starting to track the market. The things you cna do and track form here will only assist you with your investing efforts.

I hope everyone had a great weekend. Did you do everything you wanted to this weekend? Did you do everything you needed to do this weekend? Well, there is always tomorrow and this week to catch up! Good luck finding that next deal! Believe and Achieve! - Joe

"I wanted to be an editor or a journalist, I wasn't really interested in being an entrepreneur, but I soon found I had to become an entrepreneur in order to keep my magazine going." ~ Sir Richard Branson

...This weekend is just flying by as there is usually more things you need to get done then the things you want to get done. The weather was windy through-out the day. At least they are forecasting a posssible 70 degree day by Thursday. This would be the first time this year we would reach 70 degrees!

There were a boat load of open houses this weekend. It was probably the most open houses in a long time. There are open houses by realtors and open houses by owners. It is interesting to see some pass out information while others do not. Some bake apple pies to give the home a warm fresh smell while others do not. Sometimes the little things can make a difference.

I always believe even if you are not in the market to buy a home in a specific area it is always good to stop and look and possibly network with people that are usually ager to talk. So the next time you see an "Open House" sign, remember the house is open for viewing but the home owner and /or realtor are open to network. You may gather some good contacts such as repair people can be discussed.

I hope everyone has a great week ahead, remember that Monday is just another day of the week. Make the most put of your week ahead. Good luck finding that next deal. Believe and Achieve! - Joe

“Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of other's opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” ~ Steve Jobs

great info on using the camera,will really save time and like you said as you get more of these you can better track your area.keep moving forward,rob

Thanks for stopping by the daily adventure journal. We are glad to hear the digital camera is a good tip for you to use. It has helped us be more organized and as they say, "time is money" or a picture is worth 1,000 words. This is especially helpful as you are learnign or trackign your market. You may look at so many properties in a day, week or month, it adds up. Believe and Achieve! - Joe