Success-Is-Certain...starts TODAY : )

Wow...can you believe that October comes this week??? Well, with another Monday upon us I have mixed feelings about where I currently stand.

I feel like I'm taking steps to make progress each day but sometimes it doesn't feel like I'm actually any closer to making my first deal.

My weekend went like this:

Friday: I met my realtor and a fellow investor from my local REI at a HUD property. My goal was to get $500 by bird-dogging this property to him and some valuable experience walking through a property seeing what other experienced investors look for and evaluate when deciding on whether or not to pursue a property. I did get the experience, but it looks as though the numbers do not make him enough profit for him to want to place a bid on it. Sigh...oh well.

Saturday: decided last minute to register for an all day training course put on by one of the REI clubs I'm a member of and make the 120 mile roundtrip to go to it. Learned a lot of good information about finding homes through probate, benefits of owner financing vs. L/O, and the process of short sales. Then after a lunch break everyone carpooled over to 2 homes owned by a member/investor who offered to walk us through these completed rehabs he'd finished to let us ask any questions about that process. It was GREAT, but I came away feeling overloaded with information and now feel myself not knowing which direction to focus on first.

Sunday: tried to relax and regroup by reading some of Dean's BARM and get focused on my REI goals for the week.

So now...here we are on Monday and I realize that my biggest task for this week has to be to go all out on growing my buyer's list. I stumbled across an amazing tip on this site a few days ago that talks about going to your state's HUD website, finding homes in the town/city you're looking to buy in that have just sold (which will all be to investors) then write down the addresses and in a few weeks these homes will have closed, then look up the new owner's name and send them a contact letter asking if you could put them on your Buyer's List. Genius!! That's my step number one...

I'll check in around mid-week to update my progress and continue to read through all of your journals too since that's where I get some of my best encouragement and information...

Happy investing everyone...onward and upward!
Suzi

Now I bet you're thinking "Did what?...Closed your first deal?"

Well, no. Actually I made my first cold call to an ad in the paper for someone who buys houses. Ok, stop snickering. Yes, I can hear you! Don't ask me why, but the actual calling of complete strangers is absolutely terrifying to me. I'm not a "phone person" anyway but I decided not to let this hang-up of mine stop me from pursuing my goal of REI.

I've written a couple of times that my goals included calling potential buyers and/or sellers, but truth be told, I hadn't actually gotten up the nerve to do it yet.

So...now I have, and although I know it's going to take more than one call to put my cold calling fears behind me, it IS one call closer to making my first RE deal, right?

The gentleman actually has a large business where he buys "anything and everything" (his words, not mine) and he said he's actually living in Charlotte, NC (a couple of hours away from me). He said he used to have a fair number of contacts in my area but since the economy woes of the past couple of years most of his fellow investors have fallen by the wayside. Then he said he'd be in my area later this week and would like to meet me for breakfast. (Gulp! ok...next fear coming up fast) I said that sounded great and he said I could call him on his cell to set up a specific time tomorrow.

Whew...I'm glad I did it and although very nervous about meeting him in person, feel this could be the break I need to get a serious buyer in the wings. (BTW, establishing my buyer's list was my main goal for this week)

Thanks for listening...I'll update you later on how the meeting goes : ) And, as always, and advice or input on things I should ask this potential big-time buyer would be appreciated.

Suzi : )

Wow, these weeks are going by quickly! I have to say walking into Lowe's earlier this week and seeing all the X-Mas decor up and for sale was a little unnerving. Wasn't I just enjoying summer a couple of weeks ago??? Anyway...

Lots going on here... Here's a recap of my past week.

Wasn't able to connect with the large investor from Charlotte that I spoke with on the phone. That's ok. I'll catch him next time he's in town.

I went to my 2nd local REI meeting in Fayetteville and met a gentleman who wasn't at the first meeting I attended but is a very established and experienced REI in the area and seems like a great person to connect with.

I wound up calling him a couple days after our REI meeting with questions I had about a potential short sale property I was looking into and the conversation turned into him telling me about a mentoring program he offers.

I discussed it with my husband and I called him back this morning to sign up for it. I feel this is the best approach for me because I like doing things face-to-face and this man currently owns over 70 properties in my area and says his goal in the next 4 years is to turn that into 400!! He wants to develop/create strategic investing relationships with individuals like me so I think I really found this guy for a reason. I'm scheduled to meet with him tomorrow with my detailed list of goals and financial objectives to see if we both think it's a fit.

I went to a class on wholesaling (assigning) last night put on by the other REI group I'm a member of and ran into another DGer, so that was nice!

I'm honestly pretty nervous about taking this next step because I'll truly have to throw my "comfort zone" out the window but I know that's what I need to push me to move my goals in REI along a much quicker pace and get me to where I say I want to be next year and beyond.

So...lots going on (both in my head and in my REI journey) so looking forward to what the weeks and months ahead hold for me!

Stay tuned!!
Suzi : )

Suzi,

I have enjoyed a good part of your journal ---I admittedly haven't read your WHOLE journal YET, but I will read more and more each time and will read in its' entirety. There are a couple like yours that I have wanted to read fully before commenting as you have SO MUCH going on and it is awesome.

Your daily accountability is awesome and it challenges me to do the same no matter what I have gotten done! I will start doing it! Thanks for inspiring me!

I had one interview with a realtor that went so amazingly well, I thought the same thing...shouldn't I interview more? But you know what? My thought is, throughout this business when something doesn't work out, we have to say "NEXT" and be excited that it is ONE down to get to the NEXT BIG THING. So in the random, beautiful instance that it works out like this....where your first one happens to feel right and absolutely WORK for you, then WOWOWOWOWOWOW!!! Take it!! You have been blessed! Think of all the time you're saving in interviewing others, and RUN with it, and apply it to more getting out of your comfort zone and getting stuff done. LOVE IT!

I figure if I'm not doing something uncomfortable each day, then I'm not getting anything REALLY done

A couple years back I used to wake up in the morning and write what I was thankful for to start (a wonderful gratefulness-feel good-prayerful thing), and then write 20 things down that I was going to do that day that I didn't like, but would feel better once I completed. Sometimes it was something as simple as taking my vitamins, exercising, getting a call or contact completed, etc... Let me tell you ----I challenged myself to 20 days of 20 things I didn't like. At the end of that 20 days I felt better about myself than I had in months and I got WORLDS OF THINGS accomplished. In this business, could use that kind of intense discipline again as my personality is one where I like to do what "feels good" rather than always what I need to do to progress. My husband is brilliant at this, and I could use a little of that "in him" in me!

I may just start this again!!!! Baby steps I tell you...

Encouraged by your journal...awesome on the cold calls, and great news on the mentoring...sounds GREAT!!

Okay...it's been a few days since I've been on this site and could already feel my momentum slowing so I knew I needed to jump on, if only for a short while.

I met with this great local investor one week ago and we spoke for about 2 hours. Strangely enough, we didn't even really talk about real estate but more of the underlying reasons that I was there. It was eye-opening for me to have to answer questions like "Why am I doing this...really? and "Do I think I'm worth a million dollars?" These were questions that brought up much more hesitation than I had anticipated having but at the end of our meeting, I felt like I was exactly where I was supposed to be and we concluded that we would be working with each other.

He also recomended several books for me to read and I've gotten through two and they have been incredibly insightful. I've heard lots of people reference them before, but until this past weekend, I hadn't read any books from the "Rich Dad" series. The author's name is Robert Kiyosaki and he discusses in his books how adopting the right "reality" is a crucial key in reaching any goal you have, but specifically in attaining financial freedom. The second book is by a gentleman named Timothy Ferriss and it's called "The 4-Hour Work Week" and is also geared around the concept of changing your reality of what's possible and how you think about things.

This is what my focus has been the past week and although I'm learning a lot, it's hard to feel like I've gone off a bit from the RE path and I want to make sure I stay headed in the right direction.

I have a goal of finishing the list of books in the next week and that it'll create a good foundation for me to move forward with me in the right mindset to truly believe that the reality I want is one I believe exists.

Have a great rest of your week everyone,
Suzi

Good for you....you sound alot like myself and my husband. This year has been a very very trying time financially for us, and we are just able to keep our head above water. My husband's credit score was 750, this year, it took a huge dive down to the upper 500's. But, we will continue on our journey!!

Destrie

Hey Suzi,

Your book reading list sounds awesome. I want to check out that Tim Ferriss one you mention. Peter Conti is a great author too....his article was noted today in Dean's "successfest" release on Sellers. Anyway, look him up....one of his books has helped me daily on "what to say".

Glad you had a good meeting with another investor. Sounds like an intense discussion!

Cheers!
Louisa

Suzi,

Way to take action!! One small step after another is all it takes.

I have read several of the books in the "Rich Dad" series as well as Timothy Ferriss's "The 4 Hour Work Week" over the past couple of years. I found them to be extremely motivational as well as helping to shift my thinking towards a "millionaire mindset". Armed with that mindset and the techniques that Dean teaches, you can't help but be successful.

Good luck with your new investor partner and making the deals happen!!

Bruce

on Kiyosaki....I had read his books too a while back. Have you heard of his boardgame called "Cashflow 101" and "Cashflow 202"? Anyway, can't go on about it too much here, as I know it's really not prudent on this site, but look in your area to see if you have a meetup group that plays it. It's a great way to meet other investors and people looking to create extra cashflow in their lives whether they are just starting out or very experienced. Great game --- goal being to "get out of the rat race (i.e. a have-to-have-it job)" by getting your your investments & cashflow exceeding your income. Also has games for kids to get them thinking early on with this "cashflow" mindset. Very educational and entertaining. Sorry, hope you don't feel I'm hijacking your journal here Suzi, but since you're reading those, thought it may be a good "contact resource" for you too!

Cheers!
Louisa

Yup...sounds like we're in similar boats : ) Gotta keep looking forward : )

The Rich Dad books definitely get you out of your comfort zone (which is exactly what I need)...

I'll have to look into see if anyone in the Fayetteville area plays it. Great idea for meeting other investors!!A guy actually approached me today in the parking lot at Walmart asking about the magnetic signs I have on my car saying "Sell It Today!" Turns out he's a local investor that's been at it for 15 years. We exchanged information. Goes to show you just never know where you'll bump into your next good connection

Thanks for the feedback Louisa...enjoy the rest of your weekend : )
Suzi

I just noticed your screenname and have to ask...since I belong to the TREIA in Raleigh. I'm up there a couple times a month attending various trainings and REI meetings. Just curious...

Suzi

Today I'm meeting for a second time with the gentleman I met at my local REI meeting who agreed to be my mentor/coach. He owns over 70 properties in my area and is looking to expand that to 300-400 in the next 4 years. I'm excited to be meeting with him again this morning and really get on my way.

I'll write more after we meet to let you know how it went...

On another note...I've noticed that our fellow DGer Todd D. from MA (journal "Closing Time") hasn't been on in quite a while, I've PM'd him and I know at least one other DGer has tried to contact him as well. I'm hoping he's still on track, but he might need some encouragement from all of us...so if you have a sec, just make a comment on his journal or send him a quick note. I know how easily you can get derailed when life gets in the way, and I want to see him be as successful as he can...

Have a great day everyone!!
Suzi

Exciting about your meeting with a mentor. How thrilling! My husband knows a guy who owns a lot of properties here in the area, and I may see if I can get in touch with him to see if I can help him (and in the process be mentored as well). I think this would be a huge motivator!

I look forward to reading an update about your meeting and how it goes. That is awesome!!

Yes, let's all encourage Todd D!! I hope he is OK! And I hope he hasn't lost his inspiration and motivation. It does get tough and I SOOO relate to that...especially recently. But I hope he springs back soon! I want him to join us "on the other side" (meaning the "I've done a deal" side of RE) I think we could all throw a great party together....even if it is a virtual one via Skype or something

BTW ---thanks for your posts and encouragement! I really appreciate it.

Awesome that you have the magnetic signs on your car...I am SOOO impressed!!

Let us know how this mentor meeting goes...I am so excited for you!
Louisa

Wow... just saw that my last post was at the end of October and realized how I've allowed myself to get off course.

But I'm NOT going to dwell on it and start listing off all the reasons that it was unavoidable...because deep down I know it WAS avoidable. Life will always get in the way if you let it and combine that with a cup of lack of self-confidence and a pinch of procrastination and there you go, a recipe for NON-ACTION.

Ok, so it's December 2nd. I have been working with my coach here in Fayetteville and it's been great but I've gotten into preparation mode instead of action mode. I am terribly fearful of the actual contact with buyers and sellers and that's where I'm currently at.

My husband is actually now reading BARM (which is great because it's always easier to work together) and he is now getting nervous about his contract position at our local AFB which is scheduled to end in June. We've decided we'll both be doing real estate and I know we can motivate each other.

Yesterday, I called (at my coach's suggestion) landlords from our local paper's online classified section to ask if they would like to be placed on my 2010 Buyer's List and the one woman I actually spoke to was very happy do do so. I didn't get anyone else live but will keep trying today.

My focus the past few weeks had been going to the courthouse and getting the latest names of people going into foreclosure then going to their doors (again at the suggestion of my coach) to see if they'd be interested in selling to me. Apparently the foreclosure process in NC works much more quickly than up in MA where I moved from a few months ago. Almost every house I've gone to has already been empty and appears vacant. My coach said that many people don't understand the process and assume once they've received a notice of default that they can't do anything and simply pack up and leave the house. I need to get to these people before that point to let them know they DO have options.

Anyway, I'll end this here and start using the "autosuggestion" technique I read about in the last book I just finished (Think and Grow Rich by Napoleon Hill) very inspiring... Basically it tells you that if you have a strong enough DESIRE to succeed then eventually you can convince your subconscious mind to make a reality of what you desire. There's obviously a lot more to it than that, but a very good read if you're looking to get motivated.

Hope everyone has a strong and successful week of REI. I'll check in in a few days...

I had the pleasure of reading through your journal this morning. I so much enjoy everybody's journeys. When I happen across a journal that I haven't read yet (don't know how I miss them!), it's so cool to see the activity from the beginning. I hope everything is still going well for you! It's awesome all the steps you've taken and contacts you had made. Would LOVE to hear how things are going! Thanks for all the encouragement you give others, and thanks for being part of the big surprise a couple weeks ago.

God bless!

Rina

P.S. Love your screen name.

Thank you Rina. Thank you for taking the time to post on my journal. Thanks for taking the time to set the wheels in motion for Dean's big "shindig" and thanks for just sharing what you do because, I was just in the process of logging out of Dean's site after having just read through the last month or so of YOUR journal entries and then I saw I had a response in my journal and I thought "That's weird...I just finished writing my post." Then I saw it was from you and thought, isn't fate funny? You didn't know I had just been reading your journal, and I don't know why I chose to read it other than that you're truly one of a handful of DGers that I admire and respect for what you bring the the REI table and to your family and community in general. I know I needed to get fueled up to start my own REI action today and I immediately thought of you, so I think that's why I clicked on it. So thank you...your words are always impactful to me and were just the boost I needed to get me on my way this morning : )

Have a great rest of your week!!

P.S. Thanks, I love my screen name too...It's my new "mantra"!

My local REI coach/mentor here in Fayetteville gave me a simple tip to finding investors in my area. It's funny I never thought of it myself, but it definitely works! Go to your local paper's classifieds (online if possible) and go to the FOR RENT ads. These are posted by individuals that own investment properties. Duh, huh? I spent a couple days last week and called all those ads that looked as if they were listed by individuals (NOT realtors or property management companies) and called and either left a message or spoke to whomever answered telling them I was a local investor and would they be interested in having me email them a form where they could fill out the type of property they like owning, the price range they will buy in and then I add them to my database of buyers. Almost every individual I spoke to was very interested and willing to have me send them my form and a couple others told me that they were looking to sell the house they had listed for rent and would I be able to help them with that.

Cool, right? With a few calls, I just grew my Buyer's List by about 15 and got info on a couple properties that I might be able to wholesale to other investors. I was psyched!

Happy Investing all!
Suzi

I've missed you! Enjoying your last couple posts. I have done the calling of "For Rents" but have not been quite as direct as you with the form. In fact, I've called with a possible two motives - one: to see if there is interest in a lease-purchase with their "For Rent" and two: maybe they can join my buyer's list. I am sure both approaches work, however, with the goal of just growing a buyer's list, I really like your direct approach. I tended to get a little too "caught up" in the details with the other. I just want to grow my buyer's list quickly, and I think with that target in mind, I can do that! Thanks for the inspiration! REally, really glad you are back!

So as far as the foreclosure stuff goes ----I know you can get these properties under contract. I did this this past spring/summer. To give you an idea on my driving and visits, I was going to 40-80 properties a week depending on the week, and landing 1-3 contracts per week. Yes, there are many that are vacant, but there are also many that are not! Also, if you can find the local attorneys running those local auctions, and then look to their websites for their foreclosure listings, you may be able to get quicker listings than the courthouse...in other words, usually attorneys update their lists daily, and if you check the list every day, you can see what new properties were "just added" to the list, so you can catch those homeowners before they have had a chance to move. As far as I know, this is the best way to track foreclosures directly from the attorneys that are issuing the foreclosure notices. In fact, some of the houses that I went to had not yet received the attorney foreclosure notice, but their house was publically listed on those notices! I had one person call and thank me (along with getting his house under contract) because he never received the attorney notice, and I was his first point of contact about it. Also, if you aren't already ----you may go ahead and carry a contract, ready for them to sign when you go to the door. If you have several folders with blank contracts and all the necessary paperwork they need to fill out ---with the goal of "getting a few contracts signed this week" ---somehow your vision just fulfills itself, and wah lah...over time, people actually happen to be there, and be receptive to it, and you can get a signed contract within an hour.

Anyway, I hope I have not said too much here or offered too much...I'm sure you have a plan in place and are doing great! Excited for all the new things you are doing.

And excited that my good friend is back on the site!! Can't wait to hear about what is next for you!

Cheers!
Louisa

Thanks for the great message. This last month has found me somewhat off-track and getting words of encouragement from inspirations like you are always a great "shot-in-the-arm" for me. A question regarding the attorneys...have you had to pay for names of foreclosures from them? Or did they expect you to bring business their way in return for names, etc.?

Also, did you see that Todd is back? Yeah!! I think 2010 is going to be fantastic and as long as we keep keeping each other accountable, we'll all profit in the long run...

Onward and upward! New year...here we come!

Well, after nearly 10 days visiting my friends and family up in MA for the holidays, I find myself back in NC trying to figure out how I can end the year strong to give myself a good jumping off point for 2010.

After receiving an email from my Fayetteville REI club that they're holding elections for new board members and officers at their January meeting, I've decided to step up! I'm going to see if I can become a board member and do what I can to grow this group which has HUGE potential, but currently isn't making the most of it. I know I'll need to balance my involvement so that it doesn't distract me from my goal of getting my first deal done. But I also know that I could use this opportunity to network/connect with even more potential buyers and sellers (which is what my REI coach reminds me is my top priority in closing a deal).

I find myself feeling focused and fully motivated after viewing DGs latest video blog, seeing that a fellow DGer has resurfaced and is reconnecting (Todd D.) and getting a message from a soldier (and DGer) currently on active duty overseas but coming to Fort Bragg, NC in March and wants to connect to make a deal happen while stationed here for military training.

The future is ours for the taking (and giving back, of course) and I'm ready to move forward to the next step in my REI dreams...my first(of many)deals!!

Happy New Year to everyone on the DG site and especially those who I've connected with and/or received words of encouragement from at some point or another these past 6 months (Todd, Louisa, Indiana Joe, Rina, Tracy Lynn, etc.) and I wish you all health, happiness and prosperity in the year to come...

Warmly,
Suzi

Hi Suzi,

Congratulations on your progress this year. You've done a lot since I read your first post. With your enthusiasm, you'll be a great addition to the board (and what a great way to learn even more). 2010 will definitely be your investing year!! After all, it's starting with a Blue Moon, a very rare event! So, consider it a lucky sign.

I'm getting involved with the Education Committee at the Raleigh REIA. Still looking for my first deal, but very hopeful that tomorrow is the start of a great and profitable year for me, too.

Ronnie B

I look forward to bumping into you at various REI events throughout the upcoming year and networking anyway we can to both get our first deals under our belts : )

Have you heard about "Investor Palooza" in Charlotte at the end of January? It's a 3-day event featuring tons of speakers giving training, tips, strategies and lots of giveaways. If you want more info about it, PM me and I'd be happy to fill you in!

Hope you have a wonderful New Years and let's check in with each other again soon!

Suzi : )

Well, although the temperatures here in NC have been unseasonable chilly, my momentum towards my first REI deal is definitely heating up!

Tomorrow night I'll be attending the Fayetteville REI groups Board Elections and I hope to get nominated onto the board myself. I love this group but feel that it's definitely not living up to its potential. So rather than complain about it, what better way to solve the problem than to step up and help the other board members and officers find a solution. Like my junior high Home Ec teacher used to always say... "Don't curse the darkness...light a candle!"

The goal of my involvement is to help boost membership, participation and relevant trainings AND get some invaluable networking opportunities that I wouldn't otherwise have. In addition, I've noticed in speaking to people down here that it becomes quite obvious, quite quickly that I am NOT a NC native (could be the accent, or lack of...depending on how you look at it). Anyways, what better way to offer some credibility to myself than to be able to say that I'm on the Board of the local REI investment group. That way it helps to ground me in this community and give people more confidence in wanting to work with me.

The final thing I wanted to mention is the upcoming Investor Palooza 2010 to be held in Charlotte, NC the last weekend of January. I won't go into a lot of details here, but if you are in the general area or could arrange to be, this weekend-long conference will provide a wealth of information, networking opportunities and give-aways for anyone serious about REI. If you want more info about it, just PM me and I'll be happy to fill you in : )

Hope the rest of your week is filled with productivity and prosperity!
Suzi

It sounds like you are off and running in 2010 and off to a great start! The Board sounds like a great opportunity to help make a difference and be able to expand your network. It is so true sometimes, that rather than focus on the problems, find the solutions. Effective leadership can help others find the way! I find the wider you cast your network the more opportunities that you will find and also opportunities that will find you. Continued success and good luck on all your future deals. 2010 is the year of the DG student investors! Believe and Achieve! - Joe

First I wanted to thank you, Joe, for taking the time to post on my journal. I always get excited to see that a DG "heavy hitter" (like yourself) has contributed to my own personal REI journey : )

Second, being a Massachusetts native, I remember all too well how daunting winter weather can be to even the best laid plans... So hang tough...pay an ambitious neighborhhod teen to do your shoveling, and focus on finding your next deal : )

Stay warm,
Suzi

Hi to all my fellow DGers and happy Thursday!

I'm currently struggling with a dilemma that i thought I would put out to the DG community and get your thoughts on. I've been trying to keep my networking going and figuring out the leads to pursue and which ones aren't quite relevant or that come with a catch.

Has anybody else run into this? You go online and look at some different sites that say they can get you investor leads and...BOOM...before you know it you've got an inbox full of emails saying "just sign up for this webinar..." or "just fill in this short questionnaire" and I'm struggling knowing which ones are basically fluff or covers for what sometimes feels like hundreds of "REI experts" simply pushing their own REI system, book, or bootcamp.

I know that constantly educating myself is essential, but it does get frustrating and overwhelming and it feels like you can waste a whole day sifting through endless sites trying to get to the REAL leads.

Any input on this topic (and solutions on how you handle this) would be very helpful!!

Thanks in advance DGers : )

Ok...it's Friday morning and I had mentioned in my journal about going to my local Fayetteville REI groups election meeting last night. I had talked myself into volunteering to be on the board to help promote its growth and success for 2010.

Well, to my surprise, my REI coach/mentor showed up and nominated me as VP! I am not often without words, but suffice it to say I was... I finally graciously accepted and after having slept on it overnight am now PUMPED that I will have the honor to be such an integral part of this organization. I know it has the potential to be a vibrant part of this city of over 175,000 people.

This only reinforces to me how important it is to write down goals AND action steps to accomplishing those goals and just taking ACTION every day!

I wish you all a wonderful winter weekend and I'll update everyone on Monday about a potentially great handyman special (might just be that FIRST deal) I will be looking at tomorrow.

Happy Investing,
Suzi

Well, I was scheduled to go look at what may be my first property this past Saturday. My husband and I were on our way there when I received a phonecall from the investor/owner saying he had car trouble and had to reschedule. Since we were already close, we drove to the neighborhood and took a look around.

Suffice it to say, it was a little scary. As you approach the neighborhood you pass a church that's clearly been involved in a fire. Then next to it...what appears to be a vacant brick school that's had most of its windows broken and graffiti sprayed on its exterior.

Then in driving less than a mile around the immediate neighborhood, there were at least 7 vacant houses (that were obvious with boarded windows and doors). Honestly, I thought to myself, is this a place where I want to invest...where anyone is going to want to call home? But, I settled myself down and tried to see the positive. There were also several properties that you could tell had been recently fixed up...and a local university is only a couple of street away and I've heard that they're seriously looking into purchasing multiple properties in this neighborhood for housing. So...with an open mind, I kept my rescheduled appointment for yesterday to actually see the inside of the house.

I met the investor who owns it and discovered that it does need about 8-10K to get it truly liveable but that it's not as bad as it could be. He's asking $20K and told me he owes $5K. I contacted the previous owner of the home last night and she said she had owned it for about 15-20 years and had never had any real problems with crime. I figured she had no reason to lie to me since she no longer owns it. A realtor from my REIA said that a realistic price that it could get once fixed up would be between $40-45 and that rents in that area are around $450-$550. So...I'm waiting on the rehab estimate that the investor's contractor gave him but am feel pretty confident offering $10K and then trying to sell it to one of my buyer/investors for $15K.

Any comments, input, and/or suggestions would be greatly appreciated. Feeling really excited but want to stay focused so that I do everything I need to to protect myself in this transaction.

Thanks for listening and happy investing everyone!!
Suzi