Jen's Journal

11/15/2009

I have been really gloomy all weekend due to a huge set back I have come across. I have been working really hard these last few years to get credit and to make my credit immpecable. I just did a yearly check on it and came across a collections that is showing on my report. I called the company and they are saying that I owe BMG Music Services $27.00 from like 5 years ago! This is the stupidest thing that I have ever heard of. The never notified me that I was delinquent and they waiting for 5 years to put me in collections. How shady is that?? I am now in the process along with thousands of others that are dealing with this to fight them to get it taken off of my report. I am really dissappointed that I have worked so hard and it took someone else 5 minutes to mess it up.

Anyways, I have not heard anything from any of the people that I sent letters to. If I do not hear anything from them by the end of next week I am going to send the letters out again the very next Monday. I want to show these people that I am the real deal and that I mean business about their properties. I have been really bummed this weekend trying to figure out what to do about my credit that I have not done any work on my business. I have investors and I really do not want to keep them waiting. I am going to start posting ad's on Craigslist tonight advertising my services for families in distress. Hopefully I will get a hit and I can get a house moving. Because of what happened to my credit, I will have to stick with the no money tactics until I can fix the problem. I just also checked my e-mail and have not received anything on my post for a real estate agent. Hopefully I can find one.
Ok well off I go to post another ad looking for destressed sellers.

Jenna-sorry to hear about your weekend. Just remember that as long we overcome obstacles that come in our path they cant stop us from our success! You will find a way around this and get your credit repaired...in the meantime like you say keep moving foward! I'm curious about your mention of finding a real estate agent through a post. Do you mean on Craigs list? i would suggest that you use a different tactic there. Just start calling them - or do like I did. Call specific names off of signs you see on properties for sale. Make appts to see them and then start talking about what you want to do. You will learn alot about if they are the right one to work with you right away by how fast they return calls, makes appts., etc. Get them to put you on the automatic mls listing with your criteria too. That way new listings come to your email first thing every morning. Anyway - just some thoughts....keep at it...every experience is a lesson learned to make us wiser!

Thanks for the advise about a real estate agent. I will def start doing this. I have not gotten any hits off of my ads that I have been posting. I will start calling them as soon as I get home to see where I get.
I will keep moving forward, but I am not going to let these people beat me with my credit.

that whole credit thing sucks...def don't let that stop ya though...I know it won't but gotta say it anyways...

good luck with finding an agent as usual...def start calling/emailing and setting up times to check out homes...and just throw ideas on what you are attempting to do..You will learn alot about the agent and all that like Laura said...

believe me, I have done it and the worse that happens is somebody looks at you like you've got 2 heads...and if they don't understand, aw well...no big deal...ya just thank them for there time, and wish them good luck with what they are doing...thats all

just be honest, and let them know you are serious...

I emailed an agent recently about a property...asked if it was bank-owned...she got back to me quick...I then emailed her back with a few more questions about if she would be willing to put a not so straight forward offer into the bank, and she hasn't responded in 3 days...so I found out real quick she ain't a good one to work with at all...so just gotta expect a lot of that...

11/17/2009

So I just got done printing out a bunch of listing from the MLS to see what I could find. I found a couple of homes that have been on the market for more than a year now. There was one that had been on there for 465 days! I am starting to sift through the ones that look really promising and tossing aside the ones that are ok, but I do not think that I can do anything with just yet. I had to put all of that on hold due to the county website going down. It is like clockwork that every night at 6:45pm the stupid site goes down and stays down. I do not know if they are just doing daily maintenance to the site or what but is really irratating that I work all day and want to come home and work on my real estate business and can't. SIGH...

I am really disappointed as I still have not heard from any of the people that I sent letters to. I am going to keep my hopes up and pray that one responds back to me. I am giving them until Monday and then I will send out my next round of letters. I will be persistent enough to let them know that I am the real deal and I am serious about their properties.

I also got to thinking that all of the marketing that I do is online. I need to get out there and be more personal. I am going to try the flyers again and see what happens. Now it is winter and we are getting a lot of rain and wind so the windshield approach is not going to work. There is nothing like trying to peel a wet piece of paper off of your windshield and then not being able to read it. I have been hearing a lot about how Greg Murphy has been using bandit signs and flyers that he posts around town to get people to call him. I am going to go to some local places that have bulletin boards and post my foreclosure signs there. Hopefully I can get some hits. I am also thinking that directing them to my e-mail is not working all that well either. I think that a phone number would be way more personal in getting their attention. I have been flipping through PFRERN and read up more on how to set up an automated line. I really want to get some bandit signs as well as I think that this will help me market a little bit better.
The kid I work with said that the county is having their annual tax auction next month and I would like to find out when and where it is so that I can market and rub elbows with other investors. I may want to have some business cards handy to pass out.

You know that he idea's just flow when I really start to think about things, it is just having the funds to make all of these things happen. I really need a deal badly and I am on my way, but it is just so discouraging to watch others keep doing it and I am still here trying to figure it all out. I am more than determined to stick with it, I am just having one of those days.

Hey Jen,

What happened to your journal writing???? What's going on with your REI life????

Let us know!

FOMAC

Failure to plan is planning to fail......

Hey I have a good friend from Puyallup!!! Maybe you know him???

FOMAC

What do you mean what happended to my Journal writing? I have been posting for the last 3 weeks letting you all know what is going on. I am going to post an update later today, but I did manage to find a real estate agent that I am going to meet with this weekend and have a phone conference tonight. He specializes in investors so hopefully we can work together. I have also been on the MLS looking at homes as well. I found a couple that are short sales so I have an idea of what I would like to do with them, but I need to think it through before I jump.

Who is your friend that lives here? I could know him, but then again Puyallup is a pretty big place. Is he into REI? Maybe we could learn from each other.

Jen

You are working so verhard, and I understand your frustration. I can tell you that it takes a lot of determination to keep going in this business when you dont see instant results. Trust me - we were all there! One bit of advice I would say is that if you put alot of effort into one strategy - say your letters, and dont get any response, put it aside and try another route. I personally wrote letters to many, many homeowners of distressed looking houses that I found and then went home and looked them up on the tax site. Personally I too never got one response from them. So I put that aside and concentrated on FSBO both advertised in papers or by yard signs, as well as the mls. Again - I suggest you put effort into finding a good realtor who can put your criteria into an automated system according to your criteria. That elimates hours of online browsing as new deals, price changes, etc pop up in your email box every day - sometimes more than once a day. Then you can quickly analyze them and decide about making a move. Its just finding the niche that works for you. So keep trying different ideas and it will click! You're doing great - stay strong

Thank you for the awesome encouragement and I am going that route right now. I think that I have found a real estate agent and we had a conversation this evening and we will be doing a face to face meeting on Saturday afternoon. I just e-mailed him my criteria of what I am looking for so hopefully that will help. I know that I am working really hard, I just want to make a deal.

11-18-2009

As you may already know, I spoke with a real estate agent this evening and we are going to have a meeting on Saturday afternoon face to face. I am really hoping that he can help me out. I told him that I am a local investor looking to make some money and I would like him to work with me. He says that he is my man, but we will see. I really hope that it works out for the best. I took a chance on him when I e-mailed on the MLS about a listing. I was inquiring to see if it was a short sale and he responded and gave me a little bit of information on it. I took a chance and told him that I was a local real estate investor and I have been looking for an agent for some time now. He told me that we could sit down and go over what exactly I wanted in a home and he would find it for me. I emailed him my criteria today so hopefully he will send me some stuff to research for the next couple of days and I can tell him if I would like to see the house. I am going to see if I can find any FSBO like Laura told me to do and see if I can do an assignment or double close.
Laura,
Did you find your FSBO's online or did you just start driving around and find those signs? Or a combination of both?

I am going to try to send out another set of letters to these people. I am only going to do that a couple of times and if I still do not get a response I will move on from that. But I definitely do the FSBO's in the mean time.

awesome job Jen...Hopefully your sit down with the agent goes well...so far, so good...but when you meet face to face, you def get a better feel...

It seems like FSBO is a better way to go, especially when trying to assign properties...Lots of agents(in my experience)do not want to do it since they don't know what it is. I have gotten problems from the listing agents when my agent would put offers in, and it was all around, a pain in the butt...

Also, with FSBO, you may have more options/easier to deal with...Lease options, assignments, double closing...of course if they are listed with an agent, you can do this as well...but like I said, the agents I have ran into have been rude, and not easy to deal with at all...

so good luck, and get that first deal...I for one can't wait!!!

I am going to keep fighting and I will NOT let anyone tell me that I can and cannot do anything. You just wait and see, I will make a deal even if it kills me! I do not know why I am so fired up today, but something has me irritated

oh my goodness!!!I can tell you are all fired up...haha...I believe you a hundred percent when you tell me you will get a deal even if it kills ya...

gets me excited for ya!!!

Now I know why I was so fired up yesterday. I had a breakdown yesterday because I just feels like I can never get ahead and it feels like everyone is trying to screw me. I can never get a head with any of my bills no matter how hard I work or try. I am going to have to drain my savings to pay for new tires for my car. Christmas is right around the coner and I do not know what I am going to do about gifts. I am just stressed and I think that the stress is helping me keep motivated to do this. Sorry for this conversation, I needed to vent.

Jen

hey, don't worry about it...I understand a hundred percent...I have some BS going on that is going to cost me a ton of money...and the worse part, not even my fault...I have to pay $1500 today, and that is just the start...I've got a long road ahead...plus all my other bills and work and all that crap...

I NEED TO GET MOVING, AND MOVING FAST...like 10 deals in a month...It really sucks when things are out of your control, and money is what is going to kill me...

plus my mom is sick with cancer/now pneumonia, and got lots of stress...even though I try to be tough and don't let people know things are bothering me...

see, i vented to, so no need to say sorry...

I am really sorry to hear about your mom. I will pray for her and I really hope she pulls through. I am here if you need anything.

11-23-2009

So I met with the real estate agent and I think that I may have a winner. He is a very wonderful person and he shared a ton of information with me. I was a little sponge absorbing as much information that I could. At one point I had to interrupt him and tell him that my poor little brain was on overload. I still came away with a lot of useful information and we will be meeting again so that I can learn more. I had to work all day on Saturday at my regular job and then spent 3 to 4 hours after that with the agent. I was exhausted! Then I got sick on Sunday and am feeling a bit worse today. I am really hoping that all of the airborn and the vitamin c I have been taking helps because I am leaving to go and spend Thanksgiving with my family. The last thing that I want right now is to spread it, and I hate being away from home and being sick. It is the worst feeling.
So after talking with Laura and the Real Estate Agent, I have decided that finding homes that have no signs on the yard for FSBO or listing, I can try to write a letter, but it will probably not go anywhere. The agent's name is Bob and we sat down and figured out what area's I would like to stay in and what area's are absolutely out of the question. For example, there is this one house that I drive by everyday on my way home from work. It has sat on the market almost all year if not longer than that. Then the owner advertised it for rent or sale. Someone finally purchased the home and they have only lived there for a few months and now the house is back on the market again. The house is in a very questionable area of town and just with knowing that area and watching that one house, I know that it is hard to rent and even harder to sell.
He sent me a bunch of listings that qualify and I told him that if he has a house that has a lingering smell, that I would be very interested in looking at it. My mom told me the worse the smell the house has the better. The reason for this is most people cannot see past the smell and the distress of the property so it will sit on the market with no offers. This will give me a huge advantage with the buying power and I can score a better deal on the selling price of the home.
I am now going to work on my letter to the stupid collection agency to see if they will send me any information on what they claim is a valid debt. I am still heated about this one. I am not going there tonight as I am just too exhausted and I just need to rest instead of getting all worked up.

So glad you're meeting with the agent went well. I hope that works out for you. As far as my FSBOs - I find them driving around target areas. And I'm glad to hear you say you have studies your areas to know where NOT to buy! Remember - a good deal is only a good deal if you can do something with! Location is one of my highest priorities! And I had to laugh when you mentioned bad smells. When I went on a foreclosure bus tour once we went in a house so stinky, and someone said 'now thats the smell of money'....because he knew it would send people running and make sellers more motivated. Its funny how our perspectives change as investors Hope you had a great holiday and stay tough!

12/03/2009

I am back from my little mini vacation. Boy I really did not want to come back! I accomplished one of my long standing goals today and called a bunch of title companies today. I have found 2 that will deal in double closings. This is great for me as I am going to use this strategy for my no money no credit situation. I have been talking with this guy named Jeff who lives locally. Him and I are going to start going to an auction class together and he also just recommended that I join this other real estate investing site. They are having a webinar tonight at 6 pm my time about private money. Hopefully I can learn something. ohhh! It is 6 now! Gotta go and will update you on my learning's!

so, what you been learning...anything good???

miss your posts!!!

I just went to a real estate auction class here on Tuesday. I found out that there are hard money lenders that purchase the house for you and then you fix it up and sell it. They make their money back plus a 3 percent commission and you keep the profit. I am looking more into how good to be true this really is and if this is something that I would like to do with this company. They have city auctions every Friday so this could really be my thing. It is not totally no money down but they are willing to work with you and they hardly ever check your credit. Lance almost has his bike paid off so we are thinking that maybe we could use that as collateral until we make our first deal. I will let you know more as I learn more.

did you get a chance to look into the money lenders from the auction yet?

Even if it isn't totally no money down, as long as it works for you, that's all that matters... if you don't have to come up with thousands and thousands, I would consider that pretty good...and if they rarely check your credit as well, that sounds pretty nice...

the bike idea could work as far as collateral...what kind of bike out of curiosity???

so what else is going on? anything good???

So I went to this thing and I thought that the opportunity was better than it really is. What they want from you is 20% of the loan upfront and then they want you to list your property through them and take another 3%. I am not going to be able to come up with that kind of money. Especially since they are only loaning you the money to buy the house at the action that day. Then they have one of their mortgage brokers waiting to sign you up for a conventional loan so that they can get their money back right away. They make it sound really good until you get there and then they spill the beans. They also talked about investors that do the assignment contracts and the sandwich mortgages and how much they really do not like them. How they are always getting in the way and getting sued. Basically what their business is based on is when your house is foreclosed on and it goes to auction they buy it. If you come in and sell their house for them or help them catch up on their mortgages, it hurts their business.

To answer your other question, his bike is a Suzki 500. Nothing special.

How are things with you?

hey there...things are going decent...work drives me nuts as usual...but I also have been getting my butt in gear...have a meeting with an agent Wednesday to get some offers in...she knows how I want the offers already, so I don't foresee any problems when meeting with her...HOPEFULLY...

I was saying in my journal that the last 2 months i wasted time and lost focus...but I am regaining some...I also know I can't change the time I wasted, but I can change today and tomorrow, and the days to come...

Anything in the works with you???

01-20-2010

Ok so it has been a while since I have been on here. I have been going through a lot of personal things and needed to take a break from everything. My grandfather recently passed away and I just found out that one of my close friends was just diagnosed with breast cancer. If I never hear that word again it will be a miracle. I have also been going through some rough financial times as well.
I decided today that again I really hate my job and that I need to start looking for a new career. I was on monster, career builder, you name it, looking for something that would interest me more than my current job. I have thought about 100 things that I want to be "when I grow up" and nothing really caught my eye. Then I went to check my email to see how many other bills I had and here comes Dean with another one of his emails. He has his way of popping up in my email at just the right time. For some reason or another real estate is the one thing that just keeps popping up. So I decided that I needed to get back on here and get re motivated again. I feel that this is the only way I am going to get anywhere in life.

So I started reading posts and started getting into my real estate email inbox and looking to see what I had. Oh Boy! I checked my RE account and leaving that thing alone for almost a month, boy I had over 100 emails! Most of them were junk that somehow or another filtered through to my inbox. I actually had one good email that recommended me to LinkedIn.com. It is a website where people go to network for jobs and collaborate with one another about career options. It looked like I could do a lot of networking through this site so I signed up for it. I also posted a forum for everyone else here so that they could check it out as well. That is one of the things that Dean repeats over and over again is networking with people with the same interest.

The next thing was I wanted to start posting ads again on craigslist to see if I could add to my buyers and sellers list so that I could merry someone up with a suitor and make some money. The way I just put that was almost like I am a matchmaker for ones looking for love. And I have come to the conclusion that this is what I am, a real estate matchmaker. It could potentially be a pretty catchy little slogan in the future!

Anyway a little off subject with my ramblings. I was posting an ad on craigslist and had the light bulb go off in my head. Instead of me looking for people, have the people look for me! In other words I have been posting ads on craigslist looking for buyers and sellers, but I just was not having any luck. I just so happened to stumble upon this link called "housing wanted" and CHA-CHING! Gold Mine! Here are pages upon pages of people looking for houses to buy and rent and they make your job easier. They tell you everything that they are looking for in a property and I am emailing myself the listings. I am going to start looking for the properties that fit the criteria and do a sandwich lease or do an assignment contract.

WOW! How things click and it is wonderful that this is my niche and I think I finally found how to make it work for me!

Watch out real estate world Jen is coming and this time and I am going to take over!

Good to see you back on the site - and back into RE! My condolences for the hard times you've had....its good you are now moving forward again! I too have been through some personal troubles and trials. We all need to take what time we need to process - and then get back into action!!!! Keep at it - sounds like you've opened a door for yourself with the housing wanted listings.......keep posting and coming on for the support here - its a life saver! Hope 2010 is a great one for all of us!

1-22-10

So I have decided that I need to plunge feet first into doing my real estate and am researching the lease option or sandwich lease further. I have logged back onto my success academy courses and learned a lot. I also called the coach hotline to learn more as well. I am like a little sponge today soaking everything in.

So I told you in the last post that I had found a gold mine on craigslist and that I am going to pursue the wanted ads. I have been in contact with 2 people so far and they both look really promising. I spoke with the coach and he said to keep a running relationship with them and keep adding to my buyers list. Now the only issue I am having is finding the housing for these people. I thought that was the easy part. The coach said that I needed to target homes that are for rent, FSBO, or homes that are vacant. This weekend that is my project. I need to find as many for rent, FSBO, and vacant homes as possible. I am hoping that I can scream for joy here in the next couple of weeks that I have made my first deal.

You know I have a different feeling about the REI this time. I do not have as many doubts and I feel that it is going to happen for me this time around. I really need to get working on finding out what I need to do to be an official business and start working for myself. I would love to make this my full time job everyday and have less stresses. I can imagine it already!

Thank you for your condolences. I am really glad to be moving forward again. I really hope that I have opened a new avenue for myself to not only help myself but to help others as well.
The support here is fabulous and could not ask for better people. All I have to say is 2010 is going to be a rewarding year, I can feel it! Watch out world Jen is back and I am going to take over!