The Journal of the Daily Adventures of Indiana-Joe

Stopping by your dailey journal to thank you for the last call with dean and all the tips and INSIDE SECRETS you gave us.its so valuable to keep up with all the students taking action because everyone learns something different and anyone who stays on this site and LISTENS .....gathers some enormous wisdom....thanks again! !!
Jay

I have to say I was really impressed by Dean's Live On-Line Event today. Dean, yourself, and all the guests..... I just said WOW to a lot of what people were saying today. I was able to sit through 5 hours of the 6 from my computer here in Minnesota. The rehab can wait!
Dean put a year into pulling this off and it shows.
Thanks for your contributions today to all of us minions. )

Roger

...Thanks for stopping by the daily adventure. Each month there is a new chapter that begins to take form. It has been great to meet so many people and wor kwith people that are taking action with real estate investing. We enjoy being able to share what we learn with others. Have a great weekend. Believe and Achieve! - Joe

.......Thanks for stopping by. It has been a fun and busy Summer. Its always great to be able to share our tips with others. Congrats on all your recent real estate deals, keep up the good work. Each day is a new opportunity and a new adventure. Have a great weekend. Believe and Achieve! - Joe

...Thanks for stopping by the daily adventure. Dean's live show was a lot of fun. The home had awesome view of the oc ean and beach area. It was great to talk with other DG students there as well as some of Dean's other special guests. I am looking forward to watching Dean's program today. Have a great weekend. Believe and Achieve! - Joe

Joe,

It was good to see you on Dean's live event. Glad you had fun and met other guests. Always enjoy hearing your story. Thanks for your encouraging words.

Cheryl & Dave

Just stopped in to chek up on you and see what I could find out new. Well I guess I will see you the first of the week. Man It is so much fun to help get people stared and watch their lifes chane forever.

Randy

...Thanks for stopping by. It was a great time along with seeing a little of southern California. Each day really is a new adventure. Good luck on your future real estate deals. Have a great weekend. Believe and Achieve! - Joe

.....Thanks for stopping by. I look forward to seeing you next week. We should have another great time. I am looking forward to hearing about your new deals. Have a great weekend. Believe and Achieve! - Joe

...August is here and I am on the road looking at some possible deals. I have made many offers during the past few weeks and locked up another 3 bedroom 2 bath home in a good rental community. We negotiated several times until I hit my price and then that became my "best and final." I was able to get the little gem and will be closing on it toward the end of the month.

It has been a busy Summer and the deals are heating up now that we are at the end of the Summer. The key is watch your hot areas everyday because you never know when the next deal might just be listed or sitting in your in-box. Then take action, run the numbers and make your offers!

I hope everyone is having a great week. This week is going to be fun as I am headed out to LaJolla, California for a quick trip. I am looking forward to meeting some friends, enjoying the weather and checking out some of the real estate (if I have enough time). Believe and Achieve! - Joe

Quote of the Day:
"The question for each man to settle is not what he would do if he had means, time, influence and educational advantages; the question is what he will do with the things he has. The moment a young man ceases to dream or to bemoan his lack of opportunities and resolutely looks his conditions in the face, and resolves to change them, he lays the corner-stone of a solid and honorable success." ~ Hamilton Wright Mabie

......FUN IN THE SUN!!!!!
The day started a little brisk and foggy. The temperature was a mild 68 degrees and the skys appeared overcast. This was a typical morning in the LaJolla area until the sun's rays would burn through the morning fog and the beaches would fill with sun goers, surfers and other fun seeking tourists.

I went to get a little breakfast at the hotel and I was delighted to run into Greg Murphy. Greg is always willing to share his latest ideas, tips and stratgeies about real estate. I enjoy speaking with Greg because I often learn alot of great information. Greg was having breakfast before heading over to Dean's live show for the Rock Bottom Blueprint. We decided to drive over to the beach house together. It was a great neighborhood with plenty of awesome real estate to look at.

We arrived at the home and we took a few minutes to enjoy the tremendous view from the patio. It was great to see the sun over the ocean and the beach in the distance. The temperature was warming up to the mid 70's and the ocean breezes made for a pleasant atmosphere. This was a great beach house and we could see spending some time there would be rather easy to do! Dean kicked off the live show event with a few special guests and then I followed Greg on the show later in the day. It was fun to meet other speakers at this live event.

In the afternoon I headed for a drive through the local area and decided to stop for one of those In-N-Out burgers. We do not have these tasty treats in the Midwest. I then stopped at a local grocery store to pick up a few of the free Home books. It was a fun filled day as I prepared to fly home. I hope everyone enjoyed the live show. Good luck with real estate investing. Believe and Achieve! - Joe

Quote of the Day:
"I am naive enough to think that I can do my part in helping change the world, and if that's a bad thing, then, so be it, the Question is....who's coming with me?"
~ Dean Graziosi

Hey there,
I am so inspired by the way you handle things, and not let get you down, Its great
I will follow your j everytime I log on, what are you doing now and how?

...Welcome to the DG website. The website is filled with information and inspiration. Try to learn one thing new each day and apply what you learn. Currently, I am working on a variety of deals. I will do buy and holds as well as buy, fix and flip. I currently have a few deals going this month. The key is access where you are, where you want to go and what it will take to get there. Then use what you might have available. If you are limited on cash then try fast cash strategies such as bird-dogging, assignments or double closings. Good luck and I look forward to reading about your real estate deals. Believe and Achieve! - Joe

....The weekend was here and gone in a flash., We have been having hot muggy days with high humidity and then the storms roll in the rearly evening and we get cooler temps with a light breeze. I can almost feel September weather already in the air. The local high school teams are practicing football so the fall season is right around the corner.

I made a few more offers this past weekend and have been working onb a few projects. I just needed a few more assistants some days. Each day is fun because sometimes you never know where it could lead. I have a few mroe properties on my radar. I will be making an offer within the next few weeks. Like a good wine, sometimes you have to let the deals age to perfection!

I hope evryone had a great weekend and is taking advantage of the week ahead. There are plenty of deals out there. Grab your fishing poles get a few lines in the water and who knows what big one you might catch. Good luck. Believe and Achieve! - Joe

Quote of the Day:
"Be more concerned with your character than with your reputation. Your character is what you really are, while your reputation is merely what others think you are." ~ John Wooden

Quote of the Day:

"Sharing knowledge is not about giving people something,
or getting something from them. That is only valid for information sharing. Sharing knowledge occurs when people are genuinely interested in helping one another develop new capacities for action; it is about creating learning processes." ~ Peter Senge

Quote of the Day:

"The only irreplaceable capital an organization possesses is the knowledge and ability of its people. The productivity of that capital depends on how effectively people share their competence with those who can use it." ~ Andrew Carnegie

Quote of the Day:

“Every day you have the opportunity to learn and experience some-thing and some-one new. Seize the opportunity. Learn and experience everything you can, and use it to change the world.” ~ Rodney Williams

Great Journal you have here, You are an inspiration, TY. I am a newbie and am stuggling. I remember watching you and your wife talk with Dean about an REO. I would like to go for an REO being I am unemployed and need to get some cash to buy wholesale. I am getting so much negativity here in NY, and I even spoke to a RE attorney and he said he never heard of anyone doing Assignment or other things. My wife and I are looking to buy, fix and hold REO's. We need a starting point, any ideas? I have a 7 day free trial now for a foreclosure website, and, there are a few out there. We live in Kingston NY where the population is just OK, but definately doable. Thanks Joe.....Keep the inspiration going........Paul

keep it up joe...your words are fuel for our fires!!!!!!

Hi Joe, how do you determine what amount you will offer the bank on an REO?

I've been learning the Buy Fix and sell though my PMI course at the Success Academy and just recently form a local investor the "Sub To".

I am working on a property that the seller just wants out of her loan and she doesnt care to make any profit. 127,300 is what the bank says she owes. FMV is around 180,000 but nothing in the 3 mile radius has sold in over a year in that very prominent Business district in El Paso,TX

I will re do the comps with some more comps closer to the area but sold dates will be 1yr ago to 18mons, what ever my realtor can find and see if this drops the FMV much.

My investor who likes that area sd the rehab will leave nothing for him to profit. I'm stumped as to the numbers and I hope that you would share your knowledge with me on figuring the numbers on this. Of course I thought that since the seller hasnt made a payment since April 2010.

I am thinking of making a low offer to bank. What do you think? I've followed you and Stacy and your strategy making offers on REO's so I'm hoping you have a little time to please assist me with this.

Ugh, little frustrated. I really appreciate your help!!

Kathy----Your Friend on FB

"Halfhearted efforts produce mediocre results":p

We just made a proposal to the bank that was very similar. The property has been in the foreclosure process since March of this year. The owners haven't paid the bank since September of 2010. It's a large apartment building that is very dilapidated and getting worse by the day, needs big $ to fix up.

We offered the owners just enough to get them out of their debt at the bank and pay some of the other liens (the bank will have to budge to get clear title.)

We made a business plan that shows how we would make this property profitable in a years time after fix up. We are asking the bank for the whole purchase price, the whole repair cost, and no payments for 6 months, with nothing out of our pocket.

The offer amount + the repair amount = more than the last appraisal. But we factored in the cap rate if ran properly, the new NOI would be amazing when rehab is finished. The next appraisal is going to be much higher than the total borrowed amount based on income and rebuilding numbers alone. Our town is small and has colleges that need more housing. So filling it is not an issue.

What do you think the odds are of the foreclosing bank financing the whole chunk with no contribution from us, the buyer? They are kind of stuck without another option except to short sell it (for much less) to another investor who has a down payment.

The bank decides next week, they understand that they need to act quickly before the the repairs get worse. Interested to hear others' thoughts on this.

Hey Joe I have not seen you here for a while I hope you are so busy doing deals that you do not have time to be on DG.com. Joe I also hope you and the family are doing well.

Steve
Go Bears.

just stopping in to say hi, haven't posted to you in a while. hope all is well with you.
keep moving forward, rob

I can not speak for everyone here one DG.com but I for one do miss the Daily Adventure from Indiana Joe. I know Joe is out there making deals happen and helping other students to be successful but I want Joe to know he is missed here.

Steve.

Does anyone know how I can get in touch with Greg Murphy?

I am part of the Academy and Rock Bottom Blue Print.

I have good credit and cash, and would like to buy properties.

KATHY

Thanks for stopping by the daily adventure. What I would recommend is to contact a few local small community banks and credit unions in your area. Find out how they liquidate their REOs and if you could find out what they might have available today and in the future.

Check out my previous post on DG.com, Indiana Joe's Guidemap to finding REO Gems...let the adventure begin!

Here is the link to this forum thread:
http://www.deangraziosi.com/real-estate-forums/buying-foreclosures-reos-...

It's all about networking and keeping you contact list as fresh as possible. Good luck. Believe and Achieve! - Joe

Thanks for stopping by my daily adventure journal and for your encouraging words. Good luck in your real estate adventure and look forward to reading about your future real estate deals. Believe and Achieve! - Joe

I hope your were able to work out a deal for this one. The key is every property could be a deal but you deal 2 things to make the deal happen. 1) Get the property at the right price - this will allow enough profit for you and/or your end buyer 2) Have an exit startegy in place such as what you will do with the proeprty if you lock-up an accepted offer. One strategy is a good buyer's list of cash buyers and find the exact deals or better deals than what they are looking for.

Once you know your price and exit startegy, either the deal will happen at your price or terms or move on to the next deal. Keep following a deal becuase you never know when it may come back on the market with the seller or the bank. I hope this helps. Good luck. Believe and Achieve! - Joe

I hope you were able to make a deal on this one. I always believe the way you can make money in real estate is make offers and see what happens. The worst someone can tell you is no. No matter how they say it "no" is still no. It doesn't hurt any worse if it is quiet or loud. sometimes you even hear "Yes, we can accept that offer."

You never know what a seller is willing to do until you try. Soemitmes buyers are afraid to make an offer because they believe the seller will not accept it. Never put yourself into their shoes. Good luck on your future real estate deals. Believe and Achieve! - Joe

Thanks for stopping by the daily adventure and the emails. It has been crazy busy the past few months and I finally have a day to catch up on some things. I hope you had a great Thanksgiving and I hope the deals are becoming more plentiful with every offer. Believe and Achieve! - Joe