Lloyd's Journal

on your new rental property! Smart getting the renter to help out. As always I wish you the best.

Lea
SPR Property Solutions, LLC

Hey Lloyd, good job on the inspection. even though they didn't go down on price it still sounds like a great deal. I don't know what homes in that area go for ,but 16k sound good to me
Like I said before, I love the way you put all the detail in your posts, It helps everyone out.
good my friend
Richie.

I appreciate the comments and the best wishes. I wish you the best as well and good luck with everything.

Lloyd

Yeah, the price didn't go down the way i wanted to, but it's a darn great deal though. It's matter of negotiation and asking specific questions. It's amazing that when i first started, i was afraid of asking questions because i didn't want to offend anybody or hurt their feeling by low balling my offers. Now, when i make an offer, i expect only two words out of my realtor's mouth, is either Yes or No. So far, i gotten more Yes's than No's. Sometimes, the more No's you get, the sooner you get a Yes, lol. Ok my friend, thanks for stopping by and good luck with everything!

Lloyd

I can't believe a lot has happened and not enough time to post everything up. Well, let me give you a quick run down of what happened since i last wrote on my journal. I can't believe time has come and gone, but again i guess when your busy, time sure flies by....hehe.

Since i last posted, i did a closing on March 5, 2010 for a two bed rooms, one bath. I felt like i got myself a great deal, and the best part of this whole deal was that i was able to get the bank finance 100%, yes folks, 100% and no money out of pocket. That's right folks, and on top of that, i got a check for $6,542.45 at closing, cool huh! I had a tenant moved in the next day (Saturday March 6, 2010) and now the property is cash flows. I will do some upgrading such as new paint and minor repairs, and the tenants also agreed to do his shares as well, cool huh! I will provide the paint and he will pick the colors, well of course with my approval, and he and his friend will do the painting. In return, i told him that i would waive the deposit and help him pay half of the first month's bill. Now, that's win/win situation right?..haha. Time to move on to the next deal!

I've made another offer on another property, but the seller wants way to much money for it. He has done all the upgrades on the property and it looks nice, but the only thing that could make or brake the deal is the location of the property. It's not in the best area as most of the houses there are trailer homes, but if the deal is right and we both agree on the right price, then we might have a deal. The good thing about it is, i've talked to a potential renter or future buyer about this property, and he expressed great interest on that house. He said that his in-laws lives just across the street, and he would like nothing more than for his grandchildren to live nearby and spend as much time with their great grandparents as much as possible. It should be noted that it's the only house with the fence in the whole area, and having the house with a fence is a big plus to the potential leasee.

So, given that information, i'm working with the seller to make a deal work for both or us. I'm exercise all my options and if the price becomes an issues, then i'm willing to do a lease option with him, but again, i want to make it where it's a win/win situation for both of us, if nothing else, then i'll move on to the next one. That's all for now folks, and i'll provide another update of my trip to Phoenix over the weekend, where i attended the Aloha Festival. Have a bless day and remember that "Faith without work is dead, and with faith in what you do and little work on your part, you can go a long way"

Lloyd

Great stuff! Love how you worked that deal with 100% financing and cash to go from closing Sounds like all pieces are ready to fit together for everyone on the next deal once you get the right price. I agree with you - time is really flying by and there just doesnt seem to be enough hours in the day! Glad to hear you had a little vaca to Phoenix too! Keep up the good work

Good to hear from you my friend! Speaking of Phoenix, yeah i had a great time there over the weekend. The weather was really nice and the festival was off the hook. I didn't realize there's a lot of Pacific Islanders population there until i attended the festival. My cousin and his wife has a group there called "Tausala" and they performed at festival. I was blessed enough to be a part of the show and partcipated in it. The show was dedicated and honored the victims of tsunami in Samoa. The funds they generated from the show and sales of T-shirts was more than $10,000 dollars. The money will go directly to victims of tsunami and help re-build their homes and their lives. I was merely there to lend my support and do what i could do to help out.

The best part of whole trip was i was able to hook up with Al Christmann. He's one of Dean student, a real estate investor and long time Phoenix resident who's also a realtor. We first looked at the development that Anita has been working on. It has a great potential and i think Anita and her group of investors would really like it. The project includes four homes completed, and four more probably 60%-70% completed, with 15 empty lots. The development is right next to the mountain with a beautiful view. We also looked at few more properties, but with limited time, we were not able to look at more properties as i wanted to. The other two properties we also looked at i like. One needs some TLC, and another one is turn key ready, well, except the garage door is damaged which should not be a real issue. Al has sent me comps for those properties which i appreciated very much. I'm also doing some research in that area and hopefully get some positive feedbacks.

Well, that about it folks. Aside from that, I called the same seller about the property mentioned above, but he's currently out of town. I was told that he won't be back until next week, and i guess i'll just have to wait until then. The mean time, i have to get some paint and get my handy man to get me a quote on little repairs that needs to be done at the house i closed two weeks ago. I've also called a couple more properties in AZ area that i got the info from a friend at the bank, but those two have been sold, bummer! These were REO's. That's about it for now folks, and remember "Faith without work is dead, with faith in what you do and little work on your part, you can go a long way."

Lloyd

Shakin it up in Phoenix - cool Thats awesome about the festival and you getting to participate in the performance. I know how close it is to your heart to help your homeland so its great you got to have fun and raise money at the same time!
How cool you got to meet up with Al and check out props. Its need to expand real estate horizons.
I'm building a team in S.C. as well as going to Wi.
Enjoyed your post in Rinas journal too
Always a pleasure to come in and be inspired by your action my friend!

Well, you know, i had to do a little shaking and baking at the festival......hehe. Yeah, it was fun, but the best part of the festival was all the money we generated from the dance group and T-Shirts sales was for a good cause. I was blessed and fortunate enough to be a part of it.

Yeah, it was cool meeting up with Al. I only wish the we had enough time to look at more properties and have lunch, but i was in such a hurry that i ran off after we looked at a few properties. I felt bad because he took time out of his busy schedule to meet with me, but i was in a hurry and i had to be back at the festival by 3PM for performance. Anyway, i'll give him a shout and let him know what's going on. He sent me a listing of properties, but i would like for him to look specifically for properties in Gilbert, Tempe, Chandler and Ahwatukee and Central Phoenix areas.

Ok, aside from that, things have been going ok for me. I wish i had a couple of properties under contract, but i'll take what i can...hehe. I've been driving around and looking for more properties, but so far hasn't had any luck. The one property that i was hoping to have it under contract this week or next week still up in the air. I haven't heard from the owner since last week. I called him again yesterday becuase i was told he'll be back in town by Tuesday, but so far hasn't been successful. I've also called my realtor and remind him to keep me posted of any new listing, but nothing so far at this time. I've also called the banks for REO's listing, and nothing has come up so far. Having said that, i will keep on working and continue finding investment properties in other areas of the country. Thanks for stopping by my friend and good luck with the packing and the moving!

Lloyd

Lloyd - I completely relate to the feelings of frustration in getting the next deal done! Things have been pretty much on hold for me since knowing I was moving. Stopped all efforts here in Jersey, and waiting to move forward in Wi. till I get there. I feel so unproductive in RE...ugh! The only thing I've been accomplishing is putting a team together in S.C., which I now have in place. Again - waiting till I get settled in Wi. with new bank, address, etc. before getting in the middle of any deals. But as we both know - as long as we stay in it the next deal will present itself!

Yeah, its frustrating at time, but we must press forward and stay within the game. We can be easily distracted from everything going on around us like work, family and other obligations, but we must stay the course as if our lives depends on it, which for me it is. Thats how i look at my real estate investing business. I take it very serious as if my life depends on it.

I'm having a hard time finding properties right now. I have ad in our local paper and flyers, but the ones people called me about its not worth the investment. I also met with the bank vice present again this morning and checked with him of any potential properties coming up. He doesn't have any at the moment, but he will let me know once any properties becomes avaliable. I also emailed another bank's VP and reminded her to keep me inform of any REO's coming up as well.

Aside from that, i'm still working at my current job and it keeps me happy. It gives me the freedom to do my real estate investing business during work hours as long as my work schedule permits. I don't take advantage of my employment situation, but i do what's best interest of my employment first, and my business second, and besides, my boss in my best friend in the whole wide world and i would never take advantage of him.

Anyhow, i guess that about it for now. I don't want to go on specific details of what i do every day like working out at 5:30 in the morning, phone calls and my daily routine, but i try to focus on what's important.

Ok, that it for now, but the mean time, i'll keep looking for other deals out there and hopefully will have one come up sooner than later. The other house that i was hoping to have it under contract has become of nothing. I've called and left messges with the seller, but still haven't heard back from him, so i'm moving on. The train is moving and doesn't stop for nobody. That it for now folks, but remembers that "Faith without work is dead, and with faith in what you do and little work on your part, you can go a long way."

Lloyd

Keep up the great work

Oh my gosh, i can't believe time has come and gone, and i have neglected my journal. Well, since my last post, i was working on a few properties in my little neck of the woods, but they all have been felt through. The market is not as aggressive here as in other small towns, but i will continue to do my best and pusing the envelope. I've had made several offer on one particular property that i've had my eyes for a while, but the bank has refused to budge, and so i will not too. I even went up on my offer as far as twenty percent, but the bank and their realtor felt differently about the price. Given the comps in the area, they are asking way too much for that particular house, and it has been vacant for over a year. The funny thing is, i've made numerous offers on that same house last year, and i ran into the same problems, and a year later, they still haven't sold and still asking for a way overprice. Having said that, i flew out to Utah a couple of weeks ago to have met with my account and looked at what's available out there.

My accoutant lives in Utah, and i've been flying out there every year to do my taxes, and this year was not any different. Every year i go out there and everything run smooth without any problem, but this year i have learned that my accoutant has failed to include all my deductions that i was entitled to, especially with all the repairs that i have done last year. I didn't even realize that until i got home the night before i flew out when i looked over the documents and noticed a lot of deductions were excluded. It was late in the evening when i discovered the error, so i called him that night and informed him of my concerns. I flew back to Louisiana the next morning, but he assured me that he would be taking care of the errors. It was a lesson well learned, and now i might have to find myself a local accoutant. I've have found me a great real estate attorney, now i just need to have a local accountant here so that i can keep him inform of all the deal that i've been able to compile.

Well, since i was in Utah and its a place i can call home, i was able to check up on my other property and met up with my Utah realtor. Since i was there for business, i've decided that we would go out and looked at more properties. We looked at nine properties, and since i came back i've made two offers out of those nine properties, but so far haven't heard anything from the agent. The mean time, i just submitted another offer yesterday on a HUD property. This is the same realtor that i purchased another property from her last year, so she knows me and she knows how i've made my offers. I've offering 50% of the asking price, but whether i will get it or not at that price it's unknown, but i will never know unless i make a low ball offer and see where it will take me. I will most likely expect a counter offer, but that's part of the negotiation process, and i'm prepared to make an offer as hight as 30% off the appraised value. If all fails, then i kindly move on to the next property. I may be disappointed, but i just keep moving forward. Ok, i guess that's about it for now, i know i've been away far too long from this site, but i'll make a conscious effort to stay motivated and keep the ball rolling. Ok folks, that it for now, and remember "Faith without work is dead, and with faith in what you and little work on your part, you can go a long way". Go hard or go home!

Lloyd

Oh my gosh, i can't believe time has come and gone, and i have neglected my journal. Well, since my last post, i was working on a few properties in my little neck of the woods, but they all have been felt through. The market is not as aggressive here as in other small towns, but i will continue to do my best and pusing the envelope. I've had made several offer on one particular property that i've had my eyes for a while, but the bank has refused to budge, and so i will not too. I even went up on my offer as far as twenty percent, but the bank and their realtor felt differently about the price. Given the comps in the area, they are asking way too much for that particular house, and it has been vacant for over a year. The funny thing is, i've made numerous offers on that same house last year, and i ran into the same problems, and a year later, they still haven't sold and still asking for a way overprice. Having said that, i flew out to Utah a couple of weeks ago to have met with my account and looked at what's available out there.

My accoutant lives in Utah, and i've been flying out there every year to do my taxes, and this year was not any different. Every year i go out there and everything run smooth without any problem, but this year i have learned that my accoutant has failed to include all my deductions that i was entitled to, especially with all the repairs that i have done last year. I didn't even realize that until i got home the night before i flew out when i looked over the documents and noticed a lot of deductions were excluded. It was late in the evening when i discovered the error, so i called him that night and informed him of my concerns. I flew back to Louisiana the next morning, but he assured me that he would be taking care of the errors. It was a lesson well learned, and now i might have to find myself a local accoutant. I've have found me a great real estate attorney, now i just need to have a local accountant here so that i can keep him inform of all the deal that i've been able to compile.

Well, since i was in Utah and its a place i can call home, i was able to check up on my other property and met up with my Utah realtor. Since i was there for business, i've decided that we would go out and looked at more properties. We looked at nine properties, and since i came back i've made two offers out of those nine properties, but so far haven't heard anything from the agent. The mean time, i just submitted another offer yesterday on a HUD property. This is the same realtor that i purchased another property from her last year, so she knows me and she knows how i've made my offers. I've offering 50% of the asking price, but whether i will get it or not at that price it's unknown, but i will never know unless i make a low ball offer and see where it will take me. I will most likely expect a counter offer, but that's part of the negotiation process, and i'm prepared to make an offer as hight as 30% off the appraised value. If all fails, then i kindly move on to the next property. I may be disappointed, but i just keep moving forward. Ok, i guess that's about it for now, i know i've been away far too long from this site, but i'll make a conscious effort to stay motivated and keep the ball rolling. Ok folks, that it for now, and remember "Faith without work is dead, and with faith in what you and little work on your part, you can go a long way". Go hard or go home!

Lloyd

Oh my gosh, i can't believe time has come and gone, and i have neglected my journal. Well, since my last post, i was working on a few properties in my little neck of the woods, but they all have felt through. The market is not as aggressive here as in other small towns, but i will continue to do my best and pushing the envelope. I've had made several offers on one particular property that i've had my eyes for a while, but the bank has refused to budge, and so i will not either. I even went up on my offer as far as twenty percent, but the bank and their realtor felt differently about the price. Given the comps in the area, they are asking way too much for that particular house, and it has been vacant for over a year now. The funny thing is, i've made numerous offers on that same house last year, and i ran into the same problems, and a year later, they still haven't sold and still asking too much which is way overprice. Having said that, i flew out to Utah a couple of weeks ago to have met with my account and looked at what's available out there.

My accoutant lives in Utah, and i've been flying out there every year to do my taxes, and this year was not any different. Every year i go out there, i haven't had any problem as everything run smooth without any cocerns, but this year i have learned that my accoutant has failed to include all my deductions that i was entitled to, especially with all the repairs that i have done last year. I didn't even realize that until i got home the night before i flew out when i looked over the documents and noticed a lot of deductions were not included. It was late in the evening when i discovered the error, so i called him that night and informed him of my concerns. I flew back to Louisiana the next morning, but he assured me that he would be taking care of the errors. It was a lesson well learned, and now i might have to find myself a local accoutant. I've have found me a great real estate attorney since i moved here, and now i just need to have a local accountant here so that i can keep him inform of all the deal that i've been able to compile.

Well, since i was in Utah and its a place i can call home, i was able to check up on my other property and met up with my Utah realtor. Since i was there for business, i've decided that we would go out and looked at more properties. We looked at nine properties, and since i came back i've made two offers out of those nine properties, but so far haven't heard anything from the agent. The mean time, i just submitted another offer yesterday on a HUD property. This is the same realtor that i purchased another property from her last year, so she knows me and she knows how i've made my offers. I've offering 50% of the asking price, but whether i will get it or not at that price it's unknown, but i will never know unless i make a low ball offer and see where it will take me. I will most likely expect a counter offer, but that's part of the negotiation process, and i'm prepared to make an offer as hight as 30% off the appraised value. If all fails, then i kindly move on to the next property. I may be disappointed, but i just keep moving forward. Ok, i guess that's about it for now, i know i've been away far too long from this site, but i'll make a conscious effort to stay motivated and keep the ball rolling. Ok folks, that it for now, and remember "Faith without work is dead, and with faith in what you and little work on your part, you can go a long way". Go hard or go home!

Lloyd

Wow - a long distance accountant. I am dealing with that since I came to Wisconsin in April and my accountant is still in Jersey. I will definitely be finding a local one for next year myself!
Good job mixing in looking at props though. Nothing like first hand. I am going to make a trip to SC soon where I set up a team....but it seems they are all reluctant to make a first deal long distance. So I'm going to go meet face to face and do walk throughs like you did. I'm missing out on a lot of good deals, and I think if I'm not a 'ghost' to them it will make all the difference.
Hope to see you in Az!!!!
xoxoxoxoxoxoox

A lot has been going on in the last few weeks. First of all, i planned another trip back to the island to help my dad finished rebuilding of his home, but from the look of it, i don't think that will happen. Instead of going back home and spending more money, i will just send him the money to finish up the project. I would rather much like to be there, but i have so much going on right now. He has been homeless since September 29, 2009 due to the devastation of tsunami, but i'm greatful he's alive and well, and looking forward of seeing him again in the end of the year.

Ok now that i'm not going back to the islan, i need to see if its not to late to sign up for the Edge. I wasn't planning on going EDGE this year due to the planned trip to the island, but with so much going on here with work and my business, i perfer to wait until the end of the year to go home. The mean time, i need to see if i still can get in the EDGE.

As far as my real estate investing goes, i want to give a little update since the last time i wrote on my journal April 30, 2010. A lot has happened since then, and i've made numerous offers. All have been low ball offers ranging from 30% to 50% off the appraised value. Some have been counter offerd, but some have completed thinking i'm crazy for making such low offers. I finally have one that finally accepted, well, at least i haven't given my approval yet. I've been going back and forth on this property, and the realtor and seller have been firmed with their price, and therefor i thought even if i go up a little higher, i can still make it a good deal. The property is listed as two bed room and one bath, but after looking at it, it can be easily converted into a three bed rooms as was my rational of going up a little bit more than what i wanted to pay for. Well yesterday morning, the realtor representing the seller contacted my agent and informed him that my offer has been denied again which i thought was pretty much what they wanted out of it. Well, i told my agent well, "That was my last and final offer and i will not going any higher" Well, late in the evening last night, my agent called me a few times, but instead of answering the phone, i ignored all his calls. He went on and finally left a message on my voicemail indicating that my offer has been accepted. As of right now, i still haven't talked to him, but i'm just playing the silence game. Sometime its much better not saying anything than making a quick decision and then ended up regret it later. Having said that, i will most likely make the deal happen, but the mean time, i want the seller to sit there for a while anticipating whether i will move forward or not, as he had made me waited with much anticipation whether he would accept my offer or not...hehe. Ok, that all for now, but i've learned that never give up and all the blessing will soon come up after the trials of faith. I will call my agent later and let him know to move forward with the sale. Have a great day folks and remember "Faith without work is dead, and with faith in what you do and little work on your part, you can go a long way" I did and i'm making it happen!

Lloyd

Yeah, there's nothing better in real estate than looking at properties at first hand. Before i went out to Utah, i had my Utah realtor looked at some properties for me, and she provided the descriptions of the properties, etc, etc, but when i saw the properties at first hand, its was totally than what i had expected. Yeah, i made some offers, but i guess my offer were too low for them to really take me seriously. Anyway, it was a good trip, but yeah, i really need to find me a local accountant, that way i don't have to make a special trip to Utah every year. However, since i still have properties there, it would only make sense that i go out there and check on them anyways. Ok my friend, hope to see you too and i'll see if Megan would still let me take part of the EDGE. I still haven't made any travel arrangement yet, but hopefully once i talk her i will know for sure. You take care my friend and have a great day!

Lloyd

Well, i finally got another offer accepted and signed the paper work yesterday. It's a two bed room, one bath with about 1400 sq ft. The hosue needs some work, but when the repairs is completed, it will be a nice rental property or i can flip it for quick return. The house will be converted to a three bed room and one bath. Actually the house was a three bed rooms to begin from what i've observed, because it has a nice big closet, but i guess the previous owner or the owner before that maybe have taken down the walls to expand the living room. I will put the walls back up and convert it into a three bed room instead of two. It's another 100% financing deal which i've been so blessed and fortunate to do. My banks have been so good to me, and as long i'm keeping them happy, they will continue lending me the money. I've also asked them for money back at closing for repairs costs like i've done with my other deals, and they said they would. Having said that, wish me luck and hope you find the dame type of deals.

Lloyd

Hey Lloyd, welcome back!! That is amazin that you have such a great relationship with your bank and can get 100% financing. All your hard work seems to be paying off.
How are things with your Family on the Island. Hope things are coming along for them as far as the rebuilding process goes. Hey I hope you come to the EDGE,I would like to meet you in person.
Good luck on the home you just signed on, not that you need luck, you are making it happen.

Richie

Hey Lloyd ---just wanted to drop by and let you know how I've enjoyed meeting you here at the Edge and excited for all your latest success!! You've got some of these bank relationships down, and it encourages me to get out there, and just keep calling until I find the right one. I love a good challenge!

Looking forward to following your journal and keeping up with the latest.

Thanks for sharing with us....and for giving me some great advice!
Louisa

Hey Lloyd!! It was really great to finally meet you, I was so embarrased that i didnt realize who you were when you came up to me Friday night. Sometimes I don't hear well and like I said, I though you said your name was Louie lol.
good luck on that house and keep striving towards your goal.
Your an amazin person.
Richie.

I'm glad I got a chance to meet you at the EDGE. I really enjoyed talking with you at the cocktail party. You inspired me to keep looking for banks that do 100%. Best of luck in your upcoming deals.

It was great meeting you too and enjoyed chatting with you at the EDGE. The training was off the hook and looking forward to take up new challanges and make it happen. Good luck with your real estate investing and i'll be following your success as well.

Lloyd

Great meeting you too Richie and hope you enjoyed your time at the EDGE. I was only there for Saturday, but there were some propertie that i wanted to look at them on Sunday which was the reason i didn't show up Sunday. It's all good bro and good luck with your real estate investing!

Lloyd

Cathy, it was great meeting you and i also enjoyed talking to you at the cocktail party. I hope i was able to provide some ideas of working with banks and do some 100% financing deals. Do your research and the figures and then go to the bank and sell them your deals. Remember, no national banks, but work closely with local banks and credit unions. The banks are in it to make money and so are you! Good luck with your real estate deals and i'll be watching your progress.

Lloyd

Ok, just came back yesterday from the EDGE and how exciting that was. Now, i just have to keep the positive energy going and keep it moving. I also managed to look at some properties while i was there, and hopefully strike a deal in Phoenix real soon. I'll keep working on it and see if i can make it happen. I also had the opportunity to have spent some time with family and friends there and actually made it to the Lakers and the Suns game Sunday night. The best part of it all was i saw one of my long time friend that i haven't seen in twenty years, so it was a great and amazing trip.

Ok, since my last posting, i had a deal in placed and the offer had been accepted and signed the deal, but with contigencies base upon home inspection and financing. Well, after completion of the inspection last Friday (May 21, 2010), the house needs a lot more work than i anticipated. I've asked the seller to re-negotiate on the price but so far has refused to do so. I'm disappointed that i didn't get the deal, but i'm also relief. I'm disappointed with the fact that i've lost $340.00 on the deal, $250.00 for home inspection, and $90.00 for termite inspection, but i'm more relieved with the fact that if i didn't do the home/termite inpsections, i could have lost a lot more than that, probably $3,000-$5,000.

The house will be back on the market, but i'm feeling very comfortable knowing that i made the right decision. I like to note that my realtor knows the seller, and even though he's represented by another agent, he will casually meet with the seller one way or the other and let him know there's a lot more problems with the house than what his agent may have informed him. I've also asked my agent to give him a copy of the home inspection so that he can see it for himself. You know there's a saying " A Picture is worth thousand words" and i'm hoping once he sees the photos and description of the works needed, then maybe he might have to come down on the price and get this baby close. The mean time, my bank is waiting to finance this baby 100% and cut me another check when the deal is closed for repairs cost. Cool huh! Ok, that's about it for now, but i gotta keep the faith and the flame buring and hopefully strike a deal within a week or two. It may be on this property or maybe another one, but the fact of the matter is, i have to get one sooner than later. That's it for now folks, but remember that "Faith without work is dead, and with faith in what you do and little work on your part, you can go a long way"

Lloyd

Glad you had a super packed weekend with a little EDGE, a little family and friends, a little deal making, and a little sports! Wow!! It was great to see you, and I only wish we would have had more time to talk - but a little bit of Lloyd lasts a long time hehe! All the best my friend xoxox

Yeah, wish we could have talked more and hang out a bit, but everything was crampted in just two days. Didn't talk to Rina that much either, but she was a WANTED woman and everybody wanted to meet her and talk to her. I'm just happy that was i able to see you and Rina even though it was very short. You stay busy my friend and looking forward to read your success stories, much alofa (love),

Lloyd

Bummer! I haven't had any luck in the past week. First, i've been calling a lsting agent on a property that i wanted to make an offer on it in Phoenix, but the agent hasn't returned any of my phone calls and text messages. I've also contacted a friend living next door to this particular property and hoping to get any updated information. The other property is in Mesa, AZ that i really like, but when i finally got hold of the listing agent, i was told the house just signed the purchase agreement and is currently under contract. I've informed the agent that if the sale doesn't go through to please contact me of which i provided my name and number.

The last property that i made an offer on it here in my neck of the woods i backed out of it last week. I've decided to take another shot at and made another offer $5,000 less than the accepted price. The offer was based on the repairs work is needed to make the house marketable and livable, but once again, the agent and the owner refused to budge. I was told by a reliable source that the listing agent had promised the seller she was going to get more than what he wanted out of his house. Having said that, i will just move on and find other properties. It's tough to find properties selling less then 20%-30% of the appraised value, but sometime time is the name of the game and i have nothing but time. We have quite a few properties listed near my neighborhood and have been listed for more than six months, but the sellers all wanted way to much for them, and they won't even budge when it comes to the price. I've asked for lease options scenerio, but still with no luck.

Anyway, i'm hoping after waiting for another month or two, the owner will come down on the price. I could still take his offer for what he's asking for the house and turn into a rental property, but with so much work that needs to be done, i just don't want to take that risk. I also would not want to compromise my core values just for the sake of getting the piece of property. Having said that, i will continue to move forward and see what's out there. I've also asked my realtor to keep me informed of what available on the market. That's it folks and remember, "Faith without work is dead, and faith in what you do and little work on your part, you can go a long way"

Lloyd