The Journal of the Daily Adventures of Indiana-Joe

...Monday, Monday, Monday! It was a busy Monday back at the office (day job) as we are still in the process of doubling our current size and I have various meeting scheduled through-out the day for hiring additional staff and interviewing various other vendors. The big news for the week is the yare forecasting 75 degrees for Thursday. That would be unreal! As there are many people eargerly awaiting the first 70 degree day of 2010.

I have added a few other properties to my radar. There is one proeprty that has 2 homes on the same lot that is up fopr sale for $89k. The homes hneed work but it is appealign because of the 2 for one deal. Sotmeimes if you are considering purchasing properties for a buy and hold, you can get a multi-unit cheaper than if you buy individual family homes. The individual hoems tend to rent faster and tenants stay longer than multi-units but the cost per unit for a multi unit is a lot more appealing.

I hope everyone has a great week ahead. Keep looking for that next deal. Its time to drive your local areas, soak up some of the sunshine and have fun while you are scoping out your local area. Believe and Achieve! - Joe

"It's not hard to make decisions when you know what your values are." ~ Roy Disney

i'm sure you've probably thought of this but the first thing that popped in my mind when you said your company is doubling it's size was:these people need homes!!!you've got a new buyers list lol.keep moving forward,rob

You bring up a very good point. In the news, you might read or hear about a new factory being built or a plant growing and going through a massive expansion in a specific area of the country. Some of this could be local news. This could be a great sign for new and prospective renters or buyers for that area. It all goes back to supply and demand and certain areas of the country could have a larger demand than supply deming on what may be happening in that area. Believe and Achieve! - Joe

...The weather appears to be getting better are the forecast predicts a high of 72 degrees for tomorrow afternoon. The traffic into the city was not bad as most people are probably enjoying Spring break out of town. Sometimes it is a great way to clear the slate and have a fresh start by going out of town even for one day.

With April around the corner I am sure there will be even more open houses in our area. Now is the time the deals and the potential bargains may be heating up. Remember it can be a numbers game so make a lot of offers. Be sure to drive your neighborhood because some people just put out that for sale sign and you may spot a great deal by just driving your local area.

I hope everyone is having a nice week and getting ready for a terrific Spring! Starting planting those seeds on knowledge now, so the deals will be popping up in the next few weeks or months. The deals are out there, just keep taking action and fueling your burning desire to succeed! Believe and Achieve! - Joe

“You are never too old to set another goal or to dream a new dream.” ~ C.S. Lewis

....March went out with style as the temperature hit 76 degrees today. The first day of 2010 to reach 70 degrees in our area. It wa a nice treat to be able to go for lunch without a jacket. The wether was so nice I saw people in shorts and t-shirts along the lake front, jogging, riding bikes and just soakign up the golden rays of sunshine. the blue sparkling Lake Michigan and the Chicago skyline made a perfect backdrop for a day to be outside. If you missed it, no worries, becuae tomorrow is forecast to reach 80 degrees. Wow, this is terrific and it is not an April Fool's joke, either.

I drove the area a little when I got hoem to check out a few new listings and also be outside enjoying the weather. This is a great opportunity to be out and meet people to ask questions about an area you may not be as familiar with. It seems when the warm weather returns, people are generally in a happier and friendlier mood. So be sure to network, you never know where a contact may come from or lead to.

I had plans for later in the day, but after spending several horus in the fresh air, I did not stay up as late as I normally do. The night time is usually my time to catch up on real estate articles and search the computer for new listing through, Craigslist, my local newspapers and the MLS listings through various realtor sites.

Be sure to get outside and enjoy some of the nice weather, if your area is having it of course. If not I am sure the nice weather is not too far away. Be sure to look for that next deal, it may not be like an Easter egg hunt, but sometimes the deals will not jump toward you, you have to find and discover them! Believe and Achieve! - Joe

“Man can live about forty days without food, about three days without water, about eight minutes without air, but only for one second without hope” ~ Author unknown

..The weather was picture perfect as I was driving into the city. The lake was crystal blue and the sky did not have a cloud! There were many people already enjoying the warm 80 degree weather, whether they were laying on the sands of the Lake Michigan Beach or walking along the miles of Lakeshore. I have to admit I had Spring fever and wante to leave work a litle early but stayed the entire day.

Later in the day, I got the urge to check-out a few places in Michigan near the Lake. I called and found some great specials and I decided to pack up the car and head towards Michigan. When we arrived the beach was packed as people were enjoy the sunhine. The sunset tht evening was nothing less than remarkable. The last time I saw a sunset into the water like this was in Maui, Hawaii on Ka'anapali Beach.

(To see a Ka'anapali sunset)
http://images.google.com/images?um=1&hl=en&tbo=1&rlz=1R2ACGW_en&tbs=isch...

The sun was like a big orange just dipping into the water as the sky filled with various colors as the huge orange sun slowly sank into the water. It was great. I know many people had Spring fever. While in Michigan I also stopped to pick up several of the Free Real Estate books! I always like looking at property no matter where I am at.

I hope everyone has a great weekend. Make sure you have some fun and relaxation and enjoy the holidays. The deals are out there and you are going to find them soon! Believe and Achieve! - Joe

“Sensual pleasures have the fleeting brilliance of a comet; a happy marriage has the tranquility of a lovely sunset.” ~ Ann Landers

HI Joe,
I have question for the EXPERT.
I have been doing REOs some also, I have purchased 4 in the past 6 months all at a pretty good discount. but now I feel kind of stuck. But after reading Deans latest book I was wanting a little advice from you. OK here is the deal. A local CU in my town currently has two REOs on the market. And like many other markets our is satuarated. average DOM is 177, The first property is a doublewide on a double lot in a nice area,most of the homes are stick built home upward of 150-250k FMV and you could eventually build on it, has been on the market 152 days now purchase price is 74k would rent out for 850/mo easy. It is in great shape I cannot see any fixes other than gravel on the driveway. The second property is a 3 bed 1 bath 1100sqft, single car garage in a nice neighborhood.It has been rehabbed inside but needs about 2k out side.
So I wanted to make a 100% financing offer. I have had one communication with them through my realtor. I could call the assest manager myself, but I don't want to upset my realtor. I would like to use the statagy that was in the book. What do you think? Thank you in advance

...I would go ahead and contact the Asset Manager directly and make your offers. You can always give youre realtor a little monetary "thank you" depending on how much work they may have done or not done on these deals.

If you get the decision maker at the Credit Union (such as the VP or Asset Manager) try to establish some rapport with them and try to find out if their motivation might be price or terms (interest rate and fees). You can present several different offers in one email to let them think about it. I believe an email works better than a live call or meeting becuase they can think about the offer for a longer time.

In regards to the double wide there are many banks that will not refinance a manufactured home. If this is the case in your local area, it gives even more reason and leverage for them to provide the mortgage. If you keep it as a rental and it has a positive cash flow, it can be a good win-win deal for you and the Credit Union. Another tip is request 60 to 90 days to make your first payment if you need to locate a renter for the property. This will give you time to build up a little cash and the Credit Union will earn interest that they can roll into the mortgage. I hope this helps. Good luck with these potential deals. Believe and Achieve! - Joe

....Friday was a start for the long weekeknd and what better place to start the weekend is at the Dunes and beaches of Michigan. The weather was just simply unbelieveable as temperatures reached into the low 80's! We could not believe all the beach goers as so many people just wanted to enjoy the day and spend some time soaking up the rays at the beach.

I went into a local Dollar Store but that is another story from my Craigslist and eBay Journal, but the thing I noticed on the way out was a large community cork board for free postings. These boards are perfect for posting your bandit signs for "We buy houses" etc. That is why it is so important to have flyers in your car to post anywhere you get the chance. Also, have scotch tape available because you want to be prepared each day you have an opportunity presents itself.

I want to offer another tip here. This has been found out through my own trial and error. If you post a flyer on a cork board with thumb tacks, people may take the thumb tacks to post future flyers for there own ads. Your flyer could end up on the floor do to others taking your thumb tacks. Thus, keep a stapler with you and open the staple up so you are stapling into the cork board. This way no one will take your staple and it is even hard to take down the flyer. If your flyer stays up a few extra days or weeks this could make a difference. One good lead from a flyer could be worth its weight in gold!

I hope everyone is set to enjoy the weekend. Chances are the weather may be pleasant in your area. This is a great time for you to spring into action and keep looking for that next real estate deal! Believe and Achieve! - Joe

“For everything you have missed, you have gained something else, and for everything you gain, you lose something else.” ~ Ralph Waldo Emerson

hope you all had a happy easter.
keep moving forward,rob

Thanks for the well wishes and Happy Easter greetings. I hope you had a terrific Easter Sunday and your Easter basket is filled with and endless supply of golden deals. Believe and Achieve! - Joe

...As we left Michigan and drove back to the beautiful state of Indiana the cooler weather and the rain began. It is always nice to have great weather and you realize how much you miss those warm days especially after a long winter season. The one season that never ends in the Midwest is the Construction Season. I just can't believe how many times the same highway can be repaired in a short number of years. It seems like no matter the season beware of the construction and your drive times.

I found it interesting to go through some home books of the area. I was also interested in seeing so many homes near the lake that was up for sale. As we drove around a lake I even saw several open house signs, a few estate sale signs and several FSBO signs. Lets say the real estate on the market appeared to be rather plentiful. The most ambitious Open House sign I saw was an open house that read "Open House from 9 AM to 6 PM" (that's a full 9 hour day, but maybe a motivated seller or agent!).

I realized that no matter where you go there can be deals for you. Once you create and replicate a system it can be possible to achieve this in various areas. The interesting thing is when you go to a new area, you can practice with meeting new people, asking real estate questions, and learning a new market. I believe it is also fun to always be thinking about real estate and ways to improve your overall knowledge and deal making abilities. It seems like the more you practice the greater you can sharpen your abilities.

I hope everyone is having a great weekend as the rain continues. I am just glad it is not snow because we probably would ahve had a blizzard wit hthe amount of rain and high winds we are experiencing. Good luck to everyone this weekend and I hope the deals are more plentiful than the Spring tulips and lillies. Believe and Achieve! - Joe

"Life moves pretty fast. If you don't stop & look around once in awhile you could miss it". ~ Ferris Bueller

....The day started off early as we headed to mornign mass for Easter Sunday. We went to early mass because we had a full day planend. The parking lot was so crowded we had to park rather far out into the lot. After mass we went for a nice pancake breakfast and had time to relax and enjoy the day. It rained a little on and off and became nice toward late afternoon with a temperature close to 70. By nightfall it was so windy and the rain was coming down in buckets for most of the night.

I had an opportunity to work on some thinsg that were rather fun. I also checked out the Sunday paper real estate listigns and checked out Craiglist for the latest postings. I alwyas like seeing what new properties are hitting the market. The more you know about the local market, the better decision you can make. The key is looking at as many places as possible because you never know how a seller will advertise their property. Most sellers may try only one form of advertising.

I hope everyone has a great week ahead. Keep moving forward and keep doing all the right things and good thigns will happen. Keep moving forward and keep your burning desire ignited to succeeed in real estate. Believe and Achieve! - Joe

"There is one quality that one must possess to win, and that is definiteness of purpose, the knowledge of what one wants, and a burning desire to possess it." ~ Napoleon Hill

...The rain had come down in buckets through-out the evening. It was raining so hard it sounded like knocking on the roof. When I headed into work in the morning it was a little chilly and slightly overcast. By lunch time it appeared to be sunny so I thought about taking a walk over to a Chicago pizza parlor in the downtown area. As I walked there I had to carry my light jacket because the temperature had soared to the high 70's. This was a nice unexpected treat. Other than the rain, the weather has been splendid the past few days.

I had called on a few listings later in the day and wrote down some additional numbers on the way home. It seems like there are new listings each and every day. The key is to stay up on the listings for how much they are and how quickly they may sell even if you do not buy them. This information continues to provide to you an updated pulse on the local real estate market in your area.

I hope everyone is having a great week. Major League Baseball has begun so I guess it is the unofficially kick-off to Spring! Baseball can be like real estate investing, you have to decide if you are just watching the game or if you are in the game? The choice is up to you! Good luck finding that next real estate deal. Believe and Achieve! - Joe

* * * * * * * * * * * * * * * * Let's Take Action and ...... PLAY BALL! * * * * * *

“Every day is a new opportunity. You can build on yesterday's success or put its failures behind and start over again. That's the way life is, with a new game every day, and that's the way baseball is.” ~ Bob Feller

“One of the beautiful things about baseball is that every once in a while you come into a situation where you want to, and where you have to, reach down and prove something.” ~ Nolan Ryan

“There are three types of baseball players: those who make it happen, those who watch it happen, and those who wonder what happens.” ~ Tommy Lasorda

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

thanks for the advice. It seems unbelievable that a bank would give us 60-90 days before a payment is due but you never know until you ask. How did you think to ask for that?
Again thank you I will let you know what happens

I wanted to build up more of a cash reserve and I thought it would look impressive to the bank that I ahd a plan. My plan that I presented was not making a payment to do some general fix-up, painting and carpet. I also planned on informaing the bank that I needed the time to find a qualified tenant and I would not rent the home "just to get it rented". I believed this would make me appear to be a more savvy investor to the bank and my basis for my request would make better sense. Also, sometimes I would include items in the offer as bargaining chips to give concessions. It is always better to have more points to work with. Good luck with your potential deal. Believe and Achieve! - Joe

...The day was just flying by as I realized I had to make another follow-up call on a property that was on my radar. This property was a REO but it had 2 homes on one lot for $40k. I call this a potential "double deal"! The homes needed an extensive amount of work but I still threw out an offer for $18,500. The realtor informed me they had a higher offer and that was ok because I have a few other offers pending. I never try to get too tied up into one deal because there are so many more other opportunities out there.

I was driving home out of the city and the roads were rather clear. I decided to stop at a few local businesses in the area and pick up a few things. Here is another tip for everyone. The more small business you go and shop at, chances are you will get to know the owner or manager of that business. After you establish some rapport with them, then ask if you could post a flyer or leave some business cards. More often then not they would be happy top assist you. The key here establish the rapport by bneing a customer to their business and before you do request to post or leave your information. It makes it harder for them to say "No" if they realize you are a steady or frequent customer.

Some examples where I have done this is in are small collectible shops, pizza parlors, ice cream shops, convenience stores and gas stations. The more you can get the word out to the world that you are an investor, the more potential deals that might come your way. Just keep on networking and passing out your business cards and posting flyers. Just like Spring you are planting the seeds for future deals to pop-up.

I hope everyone is having a great week. Now is the time to find that next deal! Can you feel it, can you imagine it? It will happen and you can make it happen today, so let's get out there and take action! Believe and Achieve! - Joe

“I have been impressed with the urgency of doing. Knowing is not enough; we must apply. Being willing is not enough; we must do.” ~ Leonardo da Vinci

...The weather started out rather ncie with temperatures around 70 degrees; however later in the day the rain and cold was upon us. The temperatures "dropped like a rock" to the low 40's. I saw many people in downtown Chicgao that did not wear a coat or jacket to work head for the trai nas they tried to look cool but were shivering from not taking a jacket with them. The thing about the Midwest in the early Spring is the temperatire can drop by more than 30 degrees in only a matter of hours. Therefore the kwy is dress for the best, but prepare for the worst.

I was checking out some websites to review possible listings at lunch. I did notice there are so many REOs in some area that these homes are driving down the prices of other homes. It is interesting to watch a market over time and see the things that drive the market in a direction. Whenever you have more homes and a slow moving market, this screams bargains. Motivated sellers become more motivated and regular sellers start leaning to become motivated, which makes it a good time for a buyer.

How is your lcoal market? Is it up? Is it down? How many new listing hit the MLS in your local area? Today? This week? How about FSBOs, any new listing this week? How fast are homes selling in your local target market area. What is the sales price of the property compared to the listing price? What is the average days on the market for a property? Are the sellers offering credits back to the buyers? If so how much are these credits 3%, 5% or even 10%? What realtor in your area is selling the most homes this month, last month? ......... Not sure on some of these questions? Well, this could be your homework for this weekend. Its time to take action so you have control over your local market and your local market doesn't control you!

I hope everyone is keeping an eye on their local target market. Now is the time to make multiple offers and be agressive. The deals are out there, you just have to find them. Good luck this week! Believe and Achieve! - Joe

"When all alone, a turtle will gracefully swim in the ocean, when all alone, a person will gracefully swim alone. The quiet feeling you get from a turtle reflects how a person can feel alone, until someone reaches out a hand.” ~ Dan Sullivan

Do you think it make much difference that the CU is my CU where I do my personal banking Oh and did I mention I am broke!

Good times

...You never know what can make the difference. It today's banking environment relationships can be golden. Therefore, since you are a current customer of the credit union it could work toward your favor if the decision may know you. It is a lot easier at times when bankers know their customers beyond the numbers. As you work woth banks or credit unions and do what you say your going to do, it is easier to work with them in the future. Also, if they have a REO which is a non-performing asset, have the confidence that you are helping them out as much as them working with you to create a win-win deal. Good luck. Believe and Achieve! - Joe

...The cold weather had returned just to let us know that Spring was not officially here in the Midwest. The temperatures were in the 30's in the mornign and on my drive home later in the evning I even saw snow flakes coming down (ouch!). I had to check the calendar, yes is was April 8th!

I went to the grocery store to pick-up some hamburger buns, soda and choclate cake. As I went into the store I noticed the community bulletin board filled with flyers. This is not only a great place to post a bandit flyer but also to get some services you may need for your real estate business. A good idea is to take a small notebook where you can write down numbers and where you saw the ad. Also, don't forget to grab any FREE real estate books that they may have by the gumball machines!

Sometimes these small business owners will even leave a few busienss cards for you to take. I found a cleaning service, lawn service, handyman, and a company that replaced windows all in one visit. So the tip here is make sure you build yoru list of contcats before you need them because once you need them it is always good to have several contacts to choose from.

Later in the day I spent some time on the internet reading articles and information on DG.com. I checked a few websites for potential deals and I called it a night. I hope everyone is having a great week. Keep up the good work. Half the battle of finding that enxt deal is putting in the effort. So congratulations you are almost there, keep pushing forward! Believe and Achieve! - Joe

“Edison failed 10,000 times before he made the electric light. Do not be discouraged if you fail a few times.” ~ Napoleon Hill

...I hope everyone is having a fabulous Friday and all my friends on the Islands are having an Aloha Friday! I thought about our friends operating the Sugar Cane Train and Gift shop on Maui or some of the nice merchants along Front Street in Lahaina as some of the galleries are preparing for Art Night (Friday). Friday is such a great day as we are all anticipating the weekend before us! It is time for relaxing, planning catching up and fun. Try to use the weekend to make the most out of it as best you can. The weekend can make a difference in how quickly you might succeed with real estate.

I also believe a little effort over the weekend will go a long way towards your success in real estate investing. Sometimes you may want to think of it as if you devote a few weekends a year to real estate and it brings you a year closer to a better future or your retirement, what are those weekend worth to you when you see the "BIG" Picture? For example, if you looked at houses each weekend and it took you 10 weekends during the year to find that one killer deal, was that time well spent? In most cases YES! You have to decide how you spend your time because that is the one thing you have total control over.

I have a really great tip to share with everyone but I was not sure if people enjoy the tips I try to share within my journal. If you want this great tip, please make a post on my daily adventure journal and I will post this really great tip later today. I just want to make sure someone out there is reading my journal and this is a tip you can take action with today! So be sure to let me know, as I always enjoy hearing form other DG Members.

I hope everyone has a great weekend. Make sure you take a look at a few deals and if any winners make sure you make a few offers! The deals are out there the question is will you spend the time this weekend at the Mall or looking for that next deal? The choice is up to you! Always remember there is a slight difference in being a "Winner" or being a "Whiner"; a Whiner is "someone who usually is excessively complaining" where as a Winner is "someone who gives 100 percent of their effort in preparation for and during competition." Did you notice what a difference that one letter can make? Let's all be WINNERS! You can do it! Believe and Achieve! - Joe

P.S. Be sure not to miss today's powerful quote! (see below)

“Sometimes it's the smallest decisions that can change your life forever.”
~ Keri Russell

Yes, I read your journal (although I'm new to it). I've learned quite a bit from it (and you. ex. like I hadn't thought to ask for more than 30 days before the first payment was due). While I don't always get into it every day, I try to do some catch up with your past posts before I head to the back, to see what you're up to now. I look forward to your next post & any new tips you may want to share. Thanks, Joe.

Joe and Stacey,
Your journals are ones I read every time I get on this site. I might not participate very much but I definately appreciate every piece of advice I can find. I also read about your adventures on Ebay, I find that quite exciring. Please keep the tips coming.
Thank You Kolby

Thanks for stopping by my journal and the nice comments. I am glad to hear some of the tips have been helpful. Good luck with real estate investing and all your future real estate deals. Believe and Achieve! - Joe

Thanks for stopping by my journal. I am glad to hear my 2 journals have been helpful for you. Good luck on all your current and future real estate deals! Believe and Achieve! - Joe

...I wanted to share a tip with everyone and I hope you have success with this one. I always pick-up the "Free Home Books" at the local grocery store. I know they can go quick at times because between the investors and people looking to buy a new home, they can be picked up daily. Besides taking the time to post a flyer on the bulletin board at the grocery store consider putting a flyer or business card in these free home magazines or a stack near the Free home magazines. Chances are people will also pick up your "We Buy Homes" or We Sell Homes" ad and it could lead to a great buyer to sell to or add to your buyer's list. I hope this helps! Good luck with real estate investing. Believe and Achieve! - Joe

That's a Great Idea!!

I also wanted to let you know that I also read your string here on DG.com every cpl of days. You do a great job of laying out different tactics, strategies, tips, and motivation in each and every entry you write...

Thanyou

Jordan

I have found that many times there isn't anwhere to put a flyer, so this is a great Idea. I will start the right away

Thanks Joe!!

Thanks for stopping by my daily adventure journal and the nice comments, I appreciate it. The great thing about the DG.com website is everyday I can continue to learn new things and share the new thigns I learn with others. It is truly an awesome place to inspire and be inspired. Good luck with real estate investing. Believe and Achieve! - Joe