The Journal of the Daily Adventures of Indiana-Joe

Just thought I'd stop in to say "HI" and tell you how impressed I am with everything you've been doing. Thanks for all the knowledge you share!

Are you loving the weather? High 70's this weekend...finally!!! I'm not ready for the boots yet!

Keep us posted on your deals, I really enjoy reading your journal!

Dawn

Thanks for the comments. Good luck on your future deals and have a nice Labor Day Holiday weekend. Believe and Achieve! - Joe

Thanks for the nice comments, I appreciate it. The weather has been kind of strange the past few weeks. I am ready for a nice holiday weekend. My boots, gloves, and winter coat are hiding in the basement, I hope they stay down there until November. Snow is nice for the holidays, but Winter seems to last too long in the Midwest. Last year we went throug ice melt liekcarzy. I remember goign to Home Depot and grabbing the last 3 bags and I beat 3 other people to the salt isle. This year I better buy a few bags early for the sidewalk and added weight in the trunk. Have a great Labor Day Holiday weekend. Good luck on all your future deals. Believe and Achieve! - Joe

I enjoy reading your journal! I don't post on the site as much as i used to, but that because i'm out there working, making offers and trying to close on some deals. Thanks for stopping by my journal and i wish you the best in all you do!

Lloyd

Thanks for the comment and stopping by. Glad to hear about the potential deals. Good luck on all your current and future deals! Continued success, keep working the plan and I look forward to reading about your next deal. Believe and Achieve! - Joe

It’s Thursday…..did you hear that is the distance as it begins to get closer? .....Everyone's watching, to see what you will do
Everyone's looking at you, oh ...Everyone's wondering, will you come out tonight
Everyone's trying to get it right, get it right .... Everybody's working for the weekend..... It might be, it could be, it is.......Loverboy - "Working for the Weekend".

Can you feel that long holiday weekend calling you? Aahhh, its great to have a long weekend to have a little fun in the sun, BBQ and spend time with family and friends. The great thing about having a BBQ is getting ready and going grocery shopping for all the goodies….hamburgers, hotdogs, chips, dips, corn on the cob, etc.

I remember when I was young and we had the old fashioned barbeque grill with the round metal bottom on 3 legs the top was a half a round part that never really seemed to fit as well as it should. I would get the grill out of the basement and get the Kingsford charcoal and lighting fluid. You always had a friendly challenege in getting the charcoals started. One has to remember this is before matchlite charcoal and those auto lighters. That was part of the fun making sure the charcoals were “white hot” and ready for some good cooking!

So this Labor Day Holiday Weekend make sure you take a “labor” break and have some fun with family or friends. It is the unofficial end of Summer so make sure you have fun and get ready for a great Fall. The deals will be there on the weekend and there is a shrimp on the “Barbie” for you on Monday! (G’day Mate...remember that commercial?)

I hope this weekend will be a time to rest, relax and have some fun. The next wave is coming so we want to make sure we are rested and waiting for it. Is your action plan updated? Now is the time to update that action plan and get ready. I do have several properties I will look at this weekend.

We are also looking forward to spending some time with a real estate friend that is traveling through our area. We are excited to have time to go to dinner and talk “the business”. It is such a pleasure to be around others that understand your motivation and drive for the business. Sometimes I believe people may think at another level and when you have the opportunity to talk with others it can be very inspiring.

I hope everyone has a great end of work week and make sure you get to the grocery store before all those buns and chips are gone! There are all kinds of deals there for the pick’ens. Make sure to get plenty of napkins, because it is hard to read purchase contract agreements with mustard and ketchup on them! Good luck on all your real estate deals! Believe and Achieve! - Joe

Hi Joe,
Taking a whirl around some journals this evening and didn't want to miss yours. Love your Labor Day weekend post. Nice memories! I'll be one taking that Monday off but then I'm on vacation from the job the rest of the week which is a great time to be working lots more on my real estate. Since it doesn't feel like work to me I know I'll still feel like I'm on vacation.

Well, I've stocked on napkins (thanks for the reminder!) and I'm ready for some good cook-out food.

Enjoy!
Nancy D.

Thanks for the comments, I hope you have a great Labor Day holiday. The rest of the week sounds great to be looking at Real Estate. Good luck fiding some deals. The more time you have the more potential deals you could discover. As a future full time investor it could feel like vacation everyday. This is something to look forward to. Believe and Achieve! - Joe

Yes, the weekend has begun! What a great time of year to have a fun filled long holiday weekend. The weather is in the 70's with a chance of 80 this weekend. Just perfect for all those picnics and cook-outs.

I was fortunate and only had to work a half of day today at the day job. Traffic was nice heading home early and I made good time. This evening we had plans to meet a real estate friend for dinner. We had a chance to drive the area because they wanted to see a few of the deals we completed. It was fun to show them the deals and the new ones that are currently on our radar. We had some pizza and other goodies and spent time talking about the market and upcoming strategies.

We had talked about real estate and it was great to know others are out there trying to do the same things we want to do. It is great to know that you are not alone on this journey so continue to move forward and make stops when necessary to get directions when needed.

I have several other properties to look at early tomorrow and then off to have some fun. There are so many activities going on this weekend that we don't know what to do first. The key is to rest and have a little fun to recharge our batteries.

I hope everyone has a terrific Labor Day Holiday and has time for fun, food, family and friends. When your at the picnic this weekend, go a little light on the chips and potatoe salad. That way you can be sure to keep enough room on your plate for a double dip of deals. You never know what may come up so always be prepared. Believe and Achieve! - Joe

Hey Joe....

I wish you the best for this weekend too. Sounds like you already got it all planned out! That's what us CPAs do right? I didn't realize you were also a CPA until I read your post that you mentioned it. That is awesome... We have a pretty good job despite this recession thing and it no doubt helps us with the REI stuff. Please use me as a resource if you ever have a CPA / accounting question for sure. I hope I could always touch base with you as well in order to get your advice!

I think we would make a great team and it's too bad we don't live in the same state becuase I would love to partner up with you. We are definately on the same wavelength, tend to have the same ideas, and both have a love for REI. What more could you ask for? Think about it; we could set up a firm that specializes in REI type of work, ya know! Give it a whirl for about 2 or 3 years and then we both retire & do RE full time, and leave the CPA thing hanging out the window!

I know that's at least my plan!! lol

Both you and your wife have a great Labor Day weekend!

Thanks for the comments. Real estate can be a wonderful and rewarding experience. I believe it can give people many options they never thought possible. In 2-3 years if you set your mind to it, I think you will have a lot of great options and possibilites for future business endevours. It is always fun to dream about the future and wonder what can be accomplished through hard work and effort today. Believe and Achieve! - Joe

The weather was a little cool this morning as we went to the local home improvement store to get some of those exterior plastic window shudders. For a few dollars ,I enjoy giving an outside of a home a new look. Thus, I purchased a new mailbox, shudders and an address plate all for under $50. I hope the small items will give this property a nice fresh look.

Later in the day we decided to take a road trip to Illinois. As we drove into Illinois there was very heavy fog coming off the lake. It seemed like one of those Halloween movies, but I know Halloween is not until October. As the day progressed the sun cleared away the fog and the day turned out too be very nice.

We decided to go to the Illinois Railroad Museum. It is a very nice place and especially if you enjoy viewing or riding on trains. They had a large fleet running today from the Green Hornet trolley, to an electric bus, to various trains. There are a lot of trains on exhibit and it is an overall great family time. We even got an ice cream treat later in the day to make the day seem a little cooler.

The interesting thing I noticed was there was develoment in the area but also many farms still in this area. Many of the farms were also available for sale. I even saw an auction sign on one of the farms. Thus, even in the more rural parts of the state there may still be an opportunity in real estate.

There is nothing like being outside in the fresh air on a weekend having fun. These days always go by a lot faster that the work week. We just have to try to have the sun go a little slower over the sky as we enjoy our weekends. I hope everyone is having a great holiday weekend! Believe and Achieve! - Joe

The long weekend sure goes by fast when you are having fun. The weather has been nice, for being outside, to do outdoor activities. We were able to do most of the fun activities we have wanted to do this weekend. So, today we decided to go for a drive to view another neighborhood.

The neighborhood was nicer then we thought it would be, the homes were up kept with a great pride of ownership. As we drove further past the area we even found an area we didnt even know about that had a small recreational lake and homes around the lake. This was a good opportunity to see and learn what type of real estate market this was.

Thus, whenever we saw an "information tube" for homes that were for sale we got out to get a listing sheet. The interesting thing about this area was the road went all around the lake and had a few unexpected dead end streets. Thus, we had to back up and go backwards down the street to get back on the main road. We just wanted to make sure we didn't miss any "hidden gems" at the end of a dead end street.

To our surprise, we spotted a small auction sign with an arrow and we found one of the small lake front homes that will be auctioned shortly. It is funny you never know what you are going to find therefore you always need to be ready with your eyes open for the next potential deal.

I hope the weather is nice on Monday afternoon so the barbeque I have planned will not get rained out. By 5 PM tonight I hope it doesn't hit......"the back to work blues". It has been a fun weekend for us. I hope everyone has had a wonderful Labor Day Holiday. So don't forget....on Tuesday it is "Back to Work" to find those great deals! Believe and Achieve! - Joe

The weather was splendid all day today. It was sunny and around 80 degrees. I got the USA flag out of the garage and put the flag out for Labor Day. It makes the rounds through-out the year from Memorial Day to Flag Day to the 4th of July to the end of Summer Labor Day final tour for the year.

Since today was Labor Day I wanted to relax but I decided to mow the lawn and trim a few trees in the yard. The tree trimming process can get out of control so as always have a plan before you start.

We decided to have a picnic and it was a lot of fun. I think I ate one too many Hamburgers but they were too good to resist. As we left in the afternoon to get some shakes, I noticed a FSBO a few blocks away. I parked the car walked to the "Information Tube" and it was empty. Thus, I was determined so I called the seller. I inquired about his home and he stated it is $215k has 3 bedrooms 2 baths a garage and a yard...thanks for the call. Then, I said I do have a few other questions. I feel the seller was in a hurry and I asked can I see the home later today? He stated no probably not until next weekend. Thus, sometimes you have to be the motivated buyer to keep up with the busy seller.

As I drove toward the grocery store, I have seen a FSBO for sale during the past few weeks but it seemed a little more home than I usually would consider. Also, I did not want to stop to get a flyer because I thought the home would be over priced. In this market the home should be listed at $179k to sell. I guessed this home was probably at $199k because it was on the market a few weeks already. The sheet stated the home was listed at $215K (ouch). This was a little high for the area and the home will probably not sell in that range. I enjoy getting FSBOs information because they could be tomorrow's motivated seller.

As I walked back to the car, I noticed a home down the street that had very high grass with no curtains in the window. Thus, I walked up to the home and it looked vacant. I wrote down the address and will look this one up later tonight. It could have some potential. Thus, the key here is to always keep your eyes open during your normal daily routine because you never know what you may run across.

This week will be a great week because it is a short week and I have some plans for later in the week that I am really looking forward to. I hope everyone has a great week and finds several deals. Believe and Achieve! - Joe

The day was overcast with a chance of rain in the morning. I was running a little late to work and this is the time of year where it gets cool at night so the windows on the car always have that dew first thing on the morning. Therefore, it takes a little time to get the windows clear before hitting the road. Today traffic was a little slow as I drove into the city, because I heard on the radio that several streets were closed, including parts of Michigan Avenue, for Oprah's live taping of her show. This caused traffic delays for most of the morning but at least I made it into the city at a decent hour.

I got through the day but had to catch up on a few things because of the long weekend. Long weekends are great but they can make for a little more work when you return. I made a few calls at lunch to local banks to inquire about their mortgage products. I called 2 banks and both banks would loan based on appraised value but wanted you to own the property for at least 6 months (seasoning requirement) prior to a refinance. An important tip to remember is to have your resources available before you need them. In today's market, banks are becoming even more selective when giving loans so the earlier you can start to cultivate a relationship with a new local bank the better.

Tommorrow will be a busy day because I have to follow-up on a few REOs and get back to the senior bank manager about their package of REOs they wanted me to review and consider if I desired to make an offer. I ma running my numbers now but wanted to wait an extra day just to review and confirm my thoughts. Another good point is to always take time to review and check numbers so you do not make a quick decision you base your decision on the facts and the numbers.

I hope everyone is finding and working on a deal. Lets go make it a "September to Remember"! Believe and Achieve! - Joe

The day started out cool in the morning but warmed up by mid-afternoon. As I drove into the city I noticed fewer and fewer boats in the marinas. I hope people are enjoying the last nice warm days ofthe year before they move their boats to dry dock. I am looking forward to this weekend. I have some plans to visit a friend, go to dinner and explore a new area. We are looking forward to the chnage in scenery. I always like to get those free real estate listings books and learn about new areas.

I made a few calls this afternoon and just following up on some recent listings. Nothing looks too great on my current radar but that can change from week to week based on price adjustments. It appears that some listings in the higher price range for my area is coming down. Sometimes you know there are so many good deals that would cash flow themselves, the only challenge is trying to work out a deal from "the best of the best" available.

I went to do a drive by of a few new listings in the evening. I thought about the day where I could do real estate 100% of my day and thats whats keeps me going late in the day when I bnecome a little more tired. The typical work day for me between the day job and the real estate investing can be on average 14 hours, but thats okay because it does not seem like work when I am looking at real estate.

I met another friend at lunch and we started talking about the current stock market. They are a little uneasy about the market and took out their money and paid off a chunk of their mortgage on their current residence. We briefly talked about investing in real estate and they stated that it was not for them. I tried to get them to explain why but sometimes it feels like when you talk real estate to non-investors they can become uncomfortable. Thus, as you talk to other non-investors, try to sense how they feel about real estate. This will let you know how deep to cover the subject with them.

I hope everyone has been moving forward in pursuit of the next deal. Good luck on locking up that next deal! Believe and Achieve! - Joe

You gotta love short work weeks, don't you? It is almost the weekend and time for the Real Estate Adventures to begin! The weekends are like prime time! You have new listings, open houses and usally more time to work that action plan and locate and lock-up those deals! What's on your weekend to do list? Is it time to update your action plan? Well then, lets update the plan and get our gear ready for the weekend excursion through the lands of FSBOs, MLS, and probates!

This morning the temperature was in the high 50's but as I drove into work I saw a few people still trying to savor the Summer with convertibles and the tops down. I like convertibles and it is fun to see people with the tops down and the windows up as they drive into the city. I usually see an array of different vehicles in the city. It is almost like an auto show at times.

This evening I went to drive by a new REO I saw listed it was boarded up and appeared to need a lot of work including a roof. I decided to drive a few blocks through-out the area and did not see any other properties that would need to be put on my radar. I stopped at the local grocery store to pickup a few of the free real estate books to look through this weekend. I enjoy looking through the Waterfront Properties book even though I don't plan on buying anything, it is fun to see the waterfront homes on the real estate market.

Later this evening I wil check the new property listings on line and do some additional research. I am looking forward to the fun filled weekend and have several things planned. Good luck on all your deals! Believe and Achieve! - Joe

The work week is finally coming to a close and the weekend is almost upon us. I enjoyed this week because of the Labor Day holiday and my upcoming plans for the weekend. I can not believe how quickly the year is passing by. I have seen Halloween decorations and even some Christmas decorations in stores already. My snow shovel and snow brushes for the car are calling me to move them from the back of the garage to the front where they will be more easily accessible. The snow season is less than 3 months away and will be here before we know it.

It will be a productive weekend and we are going to have some fun visiting friends and going out for a nice dinner. We really enjoy talking to friends that are knowledgable about real estate investing. You can really learn a lot from being a good listener. Also, I will explore the new area and keep my eyes open for any real estate deals along the way. Like a good athlete you have to be quick on your toes and be ready for action!

I also have made plans to reread Dean's book this weekend. I enjoy going back to his books every few weeks to review chapters or notes I have taken through-out the book. I always seem to find additional tidbit nuggets of information each time I revisit the books. The books also provide me with additional ideas to update our action plan as we continue to move forward.

I hope everyone has a great relaxing weekend. I hope each of you discover a great gem of a real estate deal this weekend and be sure to enjoy the journey along the way. The deals are out there, we just have to get our action plan in gear and be on our way! Believe and Achieve! - Joe

The weekend sure flew by. I had fun this weekend and was able to get some things done and spend some time clearing my mind of the day to day activities. We updated our action plan for additional things we would like to accomplish over the next few weeks and months. I found this to be very beneficial to have the time to really review and discuss several areas we wanted to spend more focus on. I hope everyone has a great weekend and finds a deal or two. Good luck with the search for the latest deal. Believe and Achieve! - Joe

Well football is back and the NFL was in full swing today. I spend some time at a water park today, it was relaxing and fun. The lazy rivers can carry you away to relaxation. I was only able to watch a little football, but it feels like that time of year. Some of the leaves are beginning to slightly change color and Fall is kind of in the air.

Today, I took another day off from real estate to catch up on some paperwork and strategize for the weeks ahead. I hope our updated plan of action leads to another deal adventure! I hope everyone has a great week. Good luck on all your deals! Believe and Achieve! - Joe

Hey Joe....

Yep, it was definately a tough weekend to focus strictly on REI. As I'm sure you will read in my journal, it sounds like we pretty much did the same thing. I too focused on getting some things done around the house and of course brought work home from the office (extensions due as you know!!)

But, yes, football is here and it unfortunately started out for me with a big, fat loss! Damn, not exactly what we were expecting but, hey, it's a long season. It felt great to be mixed in with the crowd, yelling and screaming for the cards, and just living up the moment! Definately can't replace those opening days!!

Have a great week and hopefully some good deals find there way into your lap. Since you say it so often to others, I thought you should get it thrown back your direction as well... BELIEVE & ACHIEVE!!! - Robert lol

Thanks for the comments and the insight. I hope you did better with your fantasy football team. Even though I retired from my fantasy football league, I still caught myself checking the stats from the games.

The great thing about opening day is every fan believes their team has a chance for the Super Bowl! Every team is equal and has the same record at the start of the season. Sometimes football is like real estate and comes down to abilities, confidence, team mates, seeking opportunities, captalizing on those opportunities, gauging where you are at with your plan(half time) and making the adjustments to be better and produce results!

Yesterday was also a tough day for us Chicago Bear fans, because the Bears not only lost but it was against their #1 rival, the Green Bay Packers. But that is what makes sports so fun we can always look forward to next week's game!

Just like with real estate investing, today is a new day and there are new opportunities all around us! We just have to be in the right place at the right time and be prepared when the opportunity presents itself. Believe and Achieve! - Joe

"I want to be remembered as the guy who gave his all whenever he was on the field.” - Walter Payton (Sweetness #34)

Well, its Monday and those weekends sure go by fast, don't they? The weather was pleasant this morning and the drive into the Chicago Loop went rather good and non-eventful for a Monday morning. I often talk about the "Loop" and wanted to give an explanation if you may not be familiar with the Chicago area.

The "Loop" as defined on Wikipedia is as follows: "The Loop or The Chicago Loop are the terms used to designate the historical center of downtown Chicago. Most accurately, the term refers to an area bounded by a public transit circuit along Lake Street on the north, Wabash Avenue on the east, Van Buren Street on the south, and Wells Street on the west, but in general use it refers to the whole central business district."

My day was busy and the week was off and running. At lunch time I called a few realtors about listings that are on my radar. One home that I had on my radar was reduced from $49k to $39k (this now screamed "DEAL"). I wanted to get an offer in this morning, but the seller accepted an offer already. Thus, this one moves off the radar. I also contacted a realtor about several listings. They are interesting because they would be a short sale. An investor has about 8 homes and is looking to sell them and the bank is looking for a buyer to take them over. The only draw back is they are in an area that is transitioning. Thus, I need to do my due diligence on the area and properties to see if I will entertain making an offer.

I also had to circle back to an REO asset manager on several properties that they currently have available. A 4 unit building looks rather promising and I will submit an offer in the next day or so. They have several proepries and I am going to make a few more offers. I just need to run the numbers and find a starting point.

I hope everyone had a terrific Monday and had a nice relaxing weekend. The deals will be popping like the pumpkin patches in October, so get those bushel baskets ready! Good luck with real estate investing, and lets keep this adventure in high gear! Believe and Achieve! - Joe

I watched the early news this morning and it was depressing for me to hear the Chicago Bears lost one of their key defensive players due to injury for the entire year. Well, the rest of the defense will have to step it up for the remainder of the year. On another note, I was happy to hear that Harrison Ford is open to filming another Indiana Jones installment (Part 5). Let's just say, I enjoy the movies and look forward to another good movie.

Sports and movies can be like real estate investing. Sometimes the unexpected comes up and you are required to make adjustments or change directions along the way, but always learning from experience as you push forward. Sometimes it is more important how you deal with your challenges and roadblocks that may define you as an investor and a person.

Today, I contacted a local bank and made an offer on an REO. This property will cash flow itself and be a good investment to produce a nice stream of income in future years. It is a 4 unit complex and is located near a mjor highway. It has a basement for coin-op laundry and the building is in nice shape. I hope this one works out and I will keep everyone posted.

Lets keep moving in the right direction and finding opportunities. I hope everyone has a great Tuesday and is working their plans. Good luck on all your future deals! Believe and Achieve! - Joe

with your offer being accepted!! Please keep us posted.

Lea
SPR Property Solutions, LLC

Heard anything back from your offer yet? Hopefully it will be accepted!

Thanks for the well wishes, I appreciate it. No news yet, hopefully patience will pay off. I have a few others on my radar and I will be makign tracks this weekend looking at several other properties on Sunday. Thanks again and have a great weekend. - Believe and Achieve! - Joe

Thanks for the comments and well wishes. There has been no updated news yet but I am trying to think positive on this potential deal. That is sometimes the fun part of making good offers. It is the anticipation of the acceptance after the offer is made. You often feel like days can take longer then you want as you wait for that phone to ring or receive that email of an accepted offer. I will keep you posted and hope for an answer by next week. Have a great weekend. Believe and Achieve! - Joe

September has been flying by for me and this week I headed out of town for a little fun, relaxation and education. I was fortunate enough to get a few days off from the day job and I wanted to make the most out of it. I enjoy seeing new places and also checking out the local real estate market while I am there. On Wednesday, I had a nice day of relaxation and even found time to take a scenic train ride. It was great as we passed through some beautiful terrain and you could see the large fish in the water as the train steamed ahead. There were a few people fishing along the way and having a great time in great weather as they looked very happy been if the fish were not biting yet.

As I headed back from the train trip, I stopped at a local real estate agent office. I enjoy going to the small outdoor boxes that have all the latest real estate books for the area. I decided to get some seafood for dinner, based on all the great fish I saw earlier in the day! I went through a few of the real estate books and I saw a realtor that was hosting "Foreclosure Bus Tours." I could not believe it! It reminded me of a trip several years ago to LA when I often would see people selling "Maps to the Stars Homes". I was very curious about the foreclosure tours but did not have time to inquire during the trip.

Otherwise, the day went by rather fast as I caught up on some reading. I am looking forward to Thursday and Friday. I hope everyone is finding their latest deal and searching for the next great deal! Believe and Achieve! - Joe

The day started out early as my body is programmed to wake up around 5:00 AM for work. I had an opportunity to see the sun rise as I went for an early morning walk. The temperature was great and it was nice to have time for a walk in the area to see some of the sights. I really enjoying seeing older building in other areas. I am impressed by the architecture and I often wonder what the buildings may have been like in their hay-day of that era.

I enjoy seeing many older building renovated and preserved. Chicago restored Navy Pier in the early 1990's and it has become a major Chicago tourist destination. Many cities have transformed older train stations into tourist attractions. I have visited several other cities where these grand buildings have been restored and updated. It is great to see a part of the past being preserved for tomorrow's future, rather than being knocked down for another modern building.

I had a quick breakfast and met up with some friends. We had a great time as we talked and shared some ideas about business in general and real estate. It is very refreshing to speak to others that share the same values and have the same interest in real estate, family, society and life. Sometimes in life, I feel truly blessed that my path has crossed with others at a specific point in time and friendships are created. It is like the quote "True friends are hard to find, difficult to leave, and impossible to forget." ~ Amanda Kunkle

I also had an opportunity to meet some other great people that I know are doing a great job and are truly inspirational to others. I was even able to spend time with friends at lunch and dinner. It was an all around awesome day that I really enjoyed and will not soon forget! Each day I get more and more excited about real estate investing. Good luck on all your future deals. Believe and Achieve! - Joe