The Journal of the Daily Adventures of Indiana-Joe

Joe, all flowers don't swell sweet. Just like all lenders aren't the same.

Thanks for the comments, I appreciate it. I like the flower example. I also think that you have to make time and smell the roses as you progress with rea lestate investing, but also be careful not to get stung by a Bumble Bee in a nice flower
Thanks again for the input and good luck on all your deals. Believe and Achieve! - Joe

Sounds like that guy wanting 25% min. return, plus a share in the profits if you flip the property,is asking for too much. That's insane if you ask me. He could have probably made alot more working with you. Being greedy just doesn't pay. Sounds like you're doing great without him anyway.

Thanks for the comments, I appreciate it. I always try to create win-win deals and situations with people. I am looking at today's deal but I also am looking ahead for tomorrow's future deals as well. Sometimes I believe people do not consider the long term benefit when they consider opportunities. One very good opportunity could lead to many more opportunities for both parties. Thus, sometimes the old say of "less is more" may apply. Thanks again for your support and good luck on all your real estate deals. Believe and Achieve! - Joe

The humid weather has finally moved on. It was a great day in the high 70's low 80's. I could hear the rumble and the rattle of the windows as the super sonic jets cruised over the City of Chicago during the past 2 days. The Chicago Air and Water show is coming up this weekend, August 15-16, 2009. Thus, during the week you can see and hear planes practicing and flying over the city. It is pretty cool especially when you are on the Lakefront and you see these amazing planes zipping through the air!

I have been looking into some larger deals. The larger deals can take a little more time, but I am learning as I review them. I guess I am continuing to educate myself on different aspects of real estate. I keep reading about the boom that is about to happen with commerical real estate opportunities. Thus, I am trying to broaden my horizon and preapre for the next wave of homes or commerical buildings. It has been a terrific summer and I look forward to a better Fall. I hope everyone is finding some great deals and I look forward to reading about them. Believe and Achieve! - Joe

The weather was beautiful today, in the low 80's and it was very sunny through-out the day. Sometimes you day dream what it may be like not to have to go to the regular daily job and to be doing what you truly have a passion for.....real estate. I believe if you work hard, create win-win deals for people, and be an honest and ethical person along the way, good things will happen.

I have been doing more research and reading as we update our investing plan. I am continuing to look at properties on-line, networking and driving neighborhoods. I believe with most schools starting in the next week or two, that the housing market has been better because people wanted to buy a home before the end of Summer and get into a specific school district. I believe the bargains may be better in the Fall and Winter.

One of the keys I am trying to apply is to make sure I get the home at my price and if not, walk away. As soon as you start adjusting numbers or calculating a smaller profit, there could be some unexpected items you miss or things you do not budget for. Thus, one of my number one rules is always have a "miscellaneous expense" for each deal because when something happens at least it won't be 100% of a surprise.

The other thing I face today was retiring from the Fantansy Football League. I decided if I am serious about investing and only have 24 hours per day then I need to set a few priorities. I joined a Fantasy Football League with a few co-workers about 6 years ago and we always had fun with it. The only problem it could take up 5 to 10 hours per week depending on how involved you wanted to get with it. I decided that my time would be better spent with my family and working our real estate plan.

Sometimes the small sacrifices can lead to much larger gains. Thus, the time is now to take action, update the plan and continue to give real estate 110%. I like the FFL game, but I find the game of real estate more of a rewarding passion. So, sometimes in life you will have small, medium and large decisions to make. The fate of your future can be based on the decisions you make today!

I am glad to hear so many people are reading Dean's books and applying the techniques. I have enjoyed reading about the excitement of various DG members that ordered the Gain the EDGE home edition. The great thing is we are a community, the DG community that wants something better for our lives. We are going to make it! We are going to achieve our goals! We are going to grow, learn and prosper! It is our fate, it is our destiny! Continued success to all the DG Members, you are all on your way! Believe and Achieve! - Joe

Hey Joe.... No, you can't give up the fantasy football, really? Tell ya what, here is what you need to do. If you haven't already, get signed up with CBS Sportsline and set up the league in there. Once that is done, you definately won't have to spend all that time and give up something you love!!

I mean priorities are priorities, but come on, this is football we are talking about. lol Plus, you need to be able to enjoy the fruits of your hard work somehow right?

On a serious note, I really thought about dropping mine as well this year for the same reason. But the funny thing is that usually, the more time I actually put into it, the worse I generally do??? Huh... So, it works out perfect for me becuase I can just set my lineup once for the entire year and undoubtedly I will somehow win. You watch, it will probably happen! lol So, please take my "expert" advice (14 years and counting) and simply keep the team and for the most part, do nothing. You will then probably win it all this season... So, what do you think? Are you going to stick with it and go for it? "You can dooo ittt!!" lol By the way if you do win, I do now expect at least 25%, OK!!!

On a side note, here is what is really funny. We started our league when I was still in college, and it is perhaps one of the most realistic leagues around. I mean we even have an off season with free agency, trades, etc. Sometimes we might even have a mini camp (code for beer and poker over one of the guys houses)!! Well the name of our league is "BAFFL". The acronym stands for "Broke Ass Fantasy Football League" which we all were back in the day and quite frankly still feel like I am now. lol So, since you and I are going to be huge successes in REI, I'm the one that is going to need to quit becuase it just won't make any sense to be called "BAFFL" any longer!

Now that is motivation for you to keep going with the FFL!! I would hate to see you give up something you love, but I do understand. On the other hand..... You, me, Dean & maybe Matt could just buy a real team in say 10 years. Now that is some kind of goal... You in?

Have a good Thursday my man!

Thanks for the insight to the fantasy football league. Our league commissioner takes the responsibility pretty seriously and does all the work for the league. Each year he updates the official rule book, creates a new draft board and hosts a great draft dinner at his home. The rule book for the FFL is rather extensive with about 20 pages explaining the points and rules for the league.

We started emailing team members the past few weeks because of trying to setup our draft day. Many of the other FFL members were down about the stock market. I inquired if any have thought about real estate and I received mostly negative responses from the people that did reply. It is funny how a lot of these professional guys work 10 to 12 hour days and then do not want to consider other options like real estate investing.

Well, unlike some pro sports players, I can walk away from the FFL with my head up and not return. I had a few great years and had many players that turned out to be excellent FFL point gamers. As for a pro team, I heard some of the Arena League teams may be on the market and the new (UFL) United Footbal League is starting up. So, anything is possible. If you want to have a dream, then dream big! Think of Mark Cuban, the owner of the Dallas Mavericks, and what he has done over the years. He started as a Bartender in 1982 and later became a Billionaire in 1999! Thus, dream big and shoot for the stars! You can't score if you don't take the shot! Good luck on all your deals and future sports team acquisitions. Believe and Achieve! - Joe

Well we certainly need to get you admitted into the FFL Hall of Fame!

Believe me, I do totally understand and I think you saw that I was just having some fun! Did you guys ever use any of the online services? It really makes a big difference. I know we started out the same way and I'll have to admit, part of the fun in the good ole days was watching sportscenter and tallying up all the scores. Now it is instant!

Cuban,now he is a character, but I love it. I love his passion. I'm sure if he dabbled his hand in real estate, he would do pretty well. I'm sure he has made many investments since becoming wealthy but if he started out like us, I think you can see that he would do pretty well!

I can't believe none of your buddies even considered real estate. They flat out said no and didn't listen? Wow, you are right. I guess it takes a certain type of person.

Thanks Joe... I'll make sure to think about ya when I set my lineup for the first time this season.

10 minutes!!!! 10 minutes and my NFC Champion AZ Cardinals begin their quest to return to the Super Bowl. I have the kid duty right now since my wife is working but it will be fun to start the season off with all my little girls watching some football with their daddy! With no boys, I have to find a way to get at least one of them interested in sports!

And I'm serious about the Cardinals return.... You watch, and this thread can be the official notice that I said it first!! I probably just jinxed it!

24...., 17..... 33...., "Hut" "Hut"!!

Thanks for the comments. I do not take the FFL that seriously. It was fun and a friendly competition. My friend, the FFL Commissioner, would get upset if we mentioned going to an internet league. Most of the guys would bring it up each year. I believe he enjoyed doing the scoring each week.

Cuban can be the character. Several months ago he had an interest in buying the Chicago Cubs. However, I do not believe he made it to the final cut of prospective buyers. I am a Kurt Warner fan and I was rooting for the Cardinals in the playoffs and Super Bowl. Warner is an underdog that has shown on several occasions that he is a great competitor; probably even a Hall of Famer. I am a Chicago Bears fan and Warner almost came to the Bears before he went to the Cardinals. He just wanted to be a starter and not a back-up in Chicago. I can't blame him and he had some great years. It is really tough to repeat, but the Cardinals should have a good team if they stay injury free.

I get amazed by so many people looking at investments. I talk to almost everybody I meet and from my dentist to my former FFL members and everyone does not believe real estate is a good investment. Most of the people all state the same thing that "the stock market is down and it will recover, so I do not want to take any money out of the stock market and miss the upswing". This sounds like it came right from the lips of their stock brokers. I almost feel that they were programmed. I will always listen to people and consider what they are telling me. However, many people are also fearful of the unknown. I believe you do what you can to help people and provide the information, but it is up to them to make the final decision. Good luck on all your deals. Believe and Achieve! - Joe

The weather was nice today in the low 80's and I noticed on the way home the days are getting a little shorter with daylight. I can't believe how fast the summer is going and I even saw a few holiday decorations being setup at the local Wal-mart.

Today I had to go to my dentist for my semi-annual check-up. I enjoy talking to the dentist about things going on and getting his take on real estate. He indicated that he is holding firm in the stock market even though he is down almost 50% of where he was about 1 year ago. As we disucssed real estate he was not too excitied about the idea. I inquired if he ever thought about investing and he stated that he did not have the time and even if he found a partner he thought it may be too risky. Sometimes I believe these types of self employed professionals could be a good source of private lending or a partner for a future deal. I guess I need to soften him up over the next year to real estate.

I spent some time on the internet looking at new listings tonight. I also want to drive to another area this weekend to check-out some homes I found on the internet. I also need to follow-up with a bank on an REO offer I made about 1 week ago. Good luck on all your deals. Believe and Achieve! - Joe

you know the cliche "Show me the money" that's how you win those people over. Don't forget your doctors, lawyers and/or retirees who also have money to invest. God Bless in your REI.

Thanks for the comments and that is a great suggestion. I find that so many professional people such as doctors, lawyers, dentists, CPAs, etc. may not have the time to be an active investor but may have the funds and desire to make a great investment and earn a great return on their money as a passive investor.

I also believe retirees could be a great option. I see how when people in my communtiy reitre theier expenses can increase say on medicine or health care alone. Thus, real estate can be a great investment more so than the 2% interest they may earn for cds or money market accounts. Sometimes you need to be in the right place at the right time and find the right deal with the right interested private lender. Thus creasting another win-win deal for everyone! Continued success on all your deals. Believe and Achieve! - Joe

Hooray for Friday! The weather is hot and it is the final few weekends of Summer. Today was a very sunny and humid day in the Chicagoland area. The air show jets buzzed through the city with supersonic speed! It was a final practice before the Chicago Air and Water Show this weekend. It is really cool to see all those planes and the manuvers they do.

I have had a busy week but still have found time to reference a few items and review some potential deals. I finally heard back from the Bank Asset Manager. A few weeks ago I approached a Bank about some REOs they currently have. I made an offer but requested 100% financing. The Asset Manager met with others this week and she was informed to write a report to senior management in order for their review. I believe it has worked up the ladder and is now at the final decison makers table. Thus, it was exciting just to get it this far. The main property that I want has 3 homes and several acres of land. This is the largest deal to date that I have considered but it probably has taken me the same amount of time as a small deal. My nerves and anticipation, however are higher with this deal than with others.

I know this deal has a tremendous amount of potential and I believe it is close to a final decision. I hope to hear something within the next 2 weeks, so lets all keep our fingers crossed. I hope everyone has a great weekend and finds some really good deals. Go get 'em there there just waiting for your offer. Believe and Achieve! - Joe

Hey Joe!

Sounds like a pretty good deal. Keep us posted and the best of luck!

Have a good weekend...

Thanks for the well wishes. I am keeping my fingers crossed on this deal, it could turn out to be a really good one. It is such great anticipation waiting for the answer from the bank. Almost like when we were young and would count down the days to Christmas. I hope this (REO) package will end up under our tree! Believe and Achieve! - Joe

I totally know what you mean. We waited almost 4 months on our current home to finally get an acceptance; yes it was a short sale. My wife and I felt the same way waiting and once it was accepted, it was definately the best "Christmas Morning Feeling" gift I think we ever had!!

This was our dream house, at least for what we needed, and the whole process from start to finish was almost 18 months. We first saw it listed for $620k when the market was going nuts and we ultimately acquired it back in November for around $338k and literaly $1250 total out of pocket. We actually utilized the "Neamiah" program which was still in play until it ended on October 31st, 2008. Guess what day we actually closed?? Yep, October 31st so I would imagine we were one of the very last persons to actually be able to take advantage of it, at least how it was structured in the old days.

Yep, we were happy to have the home of our dreams but in retrospect, after everything I know now, I would bet that I could have made an even better deal on it. Oh, well, the main point was to find a wonderful home for our family and this one was truly in our hearts from day one! Besides, if this was strictly an investment opportunity, we would not have been emotionally attached to the property. For this home, that surely wasn't the case!

Have a good weekend Joe and the rest of the DG family!

Congratulations on buying your dream home, it sounds very nice and it appears you got it at a good price. A family home is something your kids will remember all their lives, so spending a little extra on a dream home can be a good thing. Sometimes life is short, you have to plan for the future but still live your life today! Have a great weekend and good luck on your future deals. Believe and Achieve! - Joe

The month is flying by and I can't believe how nice the weather has been. We had a chance to go out and run some errands today and I always keep my eye open for FSBOs. I noticed a few today that actually had balloons on the FSBO sign. That may be a hint for a motivated seller. I also noticed a few FSBOs advertising open houses on Sunday. Thus, I may have to stop and look at a few home tomorrow.

I spent some time on-line this evening looking through the MLS listings. My price range is usually $250k or less. Nothing really caught my eye. For fun I looked at other areas that are more "second" or weekend type of homes. Many executives that live in Chicago have Summer homes in Michigan. Even Mayor Daley (of Chicago) has a summer home in Michigan. For my area, these homes are located near lakes and recreational areas in places such as Michigan, Wisconsin and some parts of Indiana.

I am amazed at some of the prices and I know come Winter the deals will get ripe like a hot red tomatoe sitting on your window sill in July! A few months ago there were homes selling in the $1 million plus range, now $750k. Thats a $250k drop. Will December bring it to $500k? Would they accept an offer for even less. Who knows? I saw one handyman special type of home on a 1/2 acre bluff overlooking Lake Michigan. It was originally listed at $950,000. It is now $450,000!

It is almost like the home is screaming "BARGAIN" right through my computer. I believe this could be the type of deal to make a nice profit come next Spring or Summer. The key is to figure out how to acquire it and cash flow it until then. I like a good puzzle or challenge, but sometimes some puzzles are a little more challening than others. The best challenge would be getting some seed money for investing and see how quickly you could make that seed money grow or even double. I know in the Gain the EDGE VIP session DVD they discussed this concept and it peaked my interest. I hope everyone has a great weekend and finds more potential real estate deals. Have fun in the sun! Believe and Achieve! - Joe

Joe, opportunities seems to be continually knocking. The deals are out there, we just have to reach out and own them, and this is the best time to do so. Lubertha and I look forward to the acceptance of your REOs. You are in our prayer. God Bless.

Sandra

Thanks for the continued support of you and Lubertha, we appreciate it. I believe if all the DG Members continue to learn, explore and do the right things that there are so many more deals for all of us. Continued success in all you do. Believe and Achieve! - Joe

The weekends are the best and they always seem to fly by! The Chicgao Air and Water Show was this past weekend and I had aspirations of going. Sometimes patience can wear a little thin especially it was forcasted that over 2 million people would attend this weekend event on the Chicago lake shore.

I have just as much energy as the next guy, but driving downtown for work can be an adventure. Thus, I thought a little creative and came up with a "Plan B". There was a regional airport that I could go to where the planes were staged and we could view take offs and landings. Thus we decided to take this road less travelled. It was great! We were so close to the F-16s that you could feel the heat from the jet engines. I never was able to see these magnificant planes so close and so low, it was just awesome. We spent a few hours watching all kinds of aircraft taking off and landing from the airport.

I was so excited that my "Plan B" actually was better than my original plan. This is so true with real estate too. Whenever you are working on a deal try to come up with several exit stratgies, offers and scenarios. The more creative you are, the more deals that should come your way!

Later in the day we caught a minor league baseball game. It was a good game we we enjoyed the cozy smaller park experience. I almost felt like Ferris Bueller as we packed so much fun in just one day! I feel we are trying to get as much fun into the remaining days of summer before we head into the Fall and Winter.

I hope everyone had a great weekend and found a prospective deal. Good luck with real estate investing and keep chasing the dream! Your dreams can be your reality, if you are willing to work hard, work smart and believe in yourself! Believe and Achieve! - Joe

Dean's Video blog this week was very exciting. I really enjoyed reading so many of the posts on the video blog and discovering several of the new members making their first post. It is great to see so many new members jumping into the discussions and sharing information with other members.

It is so great to hear and share in other DG members real estate success on the DG website, that it will be great to see the new future program. I wish everyone luck on getting the Gain the Edge home study course. This course is packed with so much knowledge that you may not be able to sleep because of the excitment it generated. I remember going to the live event and my wife and I would talk for hours after the event and often could not sleep because of the excitement of information provided from the EDGE event.

Well, the same is true for the Gain the EDGE home edition. I watched a DVD before I went to bed a few nights ago night and I was so pumped I could not go to sleep! It felt the night before Christmas poem "The children were nestled all snug in their beds, While visions of sugar-plums danced in their heads." For me it was....Indiana-Joe watched the Gain the Edge DVD before bed and it created "Visions of REOs and Probates that danced in his head!"

I was checking my email today and I heard back from the Bank Asset Manager that had the small lot of REO properties that I have been working on. As you may recall there were a few I had an interest in, including a small development of 3 homes on a multi-acre parcel.

The Asset Manager had to prepare a report for Senior management last week. I thought I worked this up the bank ladder and it was rather exciting, Even if I did not get any of the properties it was a good learning experience. To my surprise the Asset Manager contacted me this afternoon and wants to arrange a meeting with me and a Senior Member of the Bank.

This is the movement I have been waiting for. I believe this may be the decision maker and we might actually be able to get a deal done. My objective is to leave the table and create a Win-Win Deal for both parties. I also want to develope and cultivate a relationship with this bank and this Senior Member for future REO acquisitions or even future financing. I am so excitied about this upcoming opportunity that I probably will have some trouble sleeping tonight. For me, this could be a huge deal. I will keep everyone posted as to the latest developments. Good luck on all your future deals. Believe and Achieve! - Joe

I dont think I'd be able to sleep either!! I've been watching the Edge DVD's and thought Talmadge's note talk was fascinating. Although it's not an area I think I'd get into, I was thoroughly engrossed. Can't wait to hear after you have your meeting. Good luck.

Cathy

Thanks for the comments. It is so true that there are so many ways to make or find great deals with real estate or even notes as Mr. Talmadge indicated. The opportunities appear to be endless. We really enjoyed all the information offered with the Gain the EDGE, plus the ideas generated from the information. It is so great to have people that give 100% to others to teach and learn from each other. Thanks for the good luck wishes and I will let everyone know how the Bank Meeting goes. Good luck with all your deals. Believe and Achieve! - Joe

The weeek is already flying by. I decided to take a week vacation to catch up on a few things around the house, take a few last minute day trips before school gets into session. Thus, it has been a busy week so far. Had a chance to go to Michigan and relax by the beach, get some great ice cream and have a nice italian meal.

It was very relaxing and felt like we were 1,000 miles away. I did notice more and more for sale signs and I decided to pickup a few of the real esttae home listing books along the way. I am also working on some new advertising. It takes time to find the right ad but with a little practice it can pay off. We even were thinking about looking into the graphics that can cover your entiure car. We want to get some pricing but we believe this couldbe a nice billboard on wheels.

Part of brainstorming helps to generate ideas for today or the future. We have plenty of ides so we will continue to try things to see what may work. Good luck on all your deals. Believe and Achieve! - Joe

The rain storms came through late in the day today. There was heavy winds and a lot of rain. I decided to go out for dinner with the family and it was a nice time. I sent out a few more emails this morning on properties I found on the MLS. Sometimes it is interesting the amount of information you can get on-line which saves everyone time and effort. I like to limit my search based on the information I normally receive on-line as well as other information I can gather to determine if the home is worth a viewing or a drvie-by. The numbers have to come together and the profit margin needs to be appealing to move forward.

My radar inventory is currently down with only 12 properties I am currently watching and hoping for some price drops. When they drop, the offer gets dusted off, the pencil gets sharpened, and the new best offer is presented. I have several offers on the table right now that include a 4 plex, a small commercial/residential building and REO 3 home package I am working on. I read a great quote that I want to share with all of you,

"If you can dream it, you can do it." - Walt Disney

Good luck on all your deals. Believe and Achieve! - Joe

Hey Joe...

See, now you are really thinking out of the box. How many vehicle graphics do you see out there for RE Investors? Not too many, and you would definately get some great exposure! I know becuase I helped / worked with my buddies company here in AZ called "bluemedia". Their website is www.bluemedia.com so check it out to get some ideas. We went from a $400k company to over $5 million in 7 or so years. I'm not sure if it could be done by them but it would be worth the call to see if they could possibly do all the design for ya, printing, and then ship it out your way to have the installation done. If not, I'm sure they could probably point you int the right direction! Ask for my friend, Jared Smith (President) and maybe you can talk with him directly, otherwise one of the sales guys can definately help you. (Mike, Andy, Pryor) Those guys I know and trust...

What I would recomend its to really deck it out and definately do the entire car. It can get expensive but it will do the trick and besides, it will actually protect your paint. Anyway, like I said, do the whole care with the general stuff, nice pics, etc. and then on the back window, you can use a material called "window perf" that you can customize with different messages all the time. So if you were pushing for buyers, then you could create a specific message tailored to that. Once your ready to focus on something else, then you change it again. The reason I say to do it this way, is becuase it is much cheaper to have to only change the back window rather than the entire vehicle when you want to mix it up a little!!

Anyway, I hope that info gives you and everyone else a little more detail about vehicle graphics! And, if you do call, just tell them that Robert Burkett referred you over from the Dean Graziosi website! They will owe me big time if they get millions of orders now... lol. Well, I should at least get to charge them a litlle more when I do their corporate tax return next year!! lol

Take care everyone!

Thanks for the ideas and the information. I will check-out their website later in the week. Sometimes if we can think outside the box, thats where the best ideas are found. I often think of how many cars that you pass each day and how many would see your vehicle in the local grocery or Wal-mart while you shop for an hour! One good lead could more than pay the cost of the graphics. Thus, this idea may lead to more leads than one could handle. How great would that be! Thanks again for the referral. Good luck and continued success. Believe and Achieve! - Joe

Joe,
I can't wait to hear how your meeting goes with the Senior Bank Mgr. re: the lot of 3 homes. That is exciting and clearly you have done a great job of presenting your offer, to the point that they keep taking it up the line!

All the best to you,
Nancy D.