Louisa's Journal - The Sky is the Limit!!!

Louisa's Journal - The Sky is the Limit!!!

So this is my goal... 5 deals by the end of 2009.

I figure if I state it at the top of my blog, I'll have to look at it every day when I hop on here!

Declaring this goal makes me a bit nervous, but I also know that if I make great strides and do a few deals and don't quite hit 5 by the end of the year, I will still have conquered my fears about it, have a lot more info to make many more deals happen more quickly going forward, and I and will hopefully be miles from where I am right now!

But make no mistake...I am serious about my goal of 5 deals and serious about putting the time in to make it happen.

Real Estate Focus: Wholesaling, Assignment of Contract, Birdogging, and hopefully, eventually re-habbing, and getting the $$ to put down on my own properties. My husband and I currently own a home and have one other house we are renting out that may soon become a Lease-Purchase. However, I'm really "on my own" financially as far as future home purchases!

I'm in the midst of developing my buyer's list, and just getting out there to look at FSBO properties.

Today's Action Items:
--Make 10 calls to rentals in classifieds in the area to develop my buyers list
--Make 5 phone calls to properties I have scouted out and begin the process of talking to sellers, finding out their motivations, getting the specs, walking through properties, and doing my best to get started in the process of getting some creative deals done!
--Enroll as a guest at next weeks local REI meeting

Tomorrow's Action Item:
--Build a plan of what needs to happen -goal-planning in terms of building my buyer's list (specific number), or how many sellers I'm talking to at once, tracking how much "contact" per day, week, month in order to accomplish my "5 deal" goal.
--Plan lunch with a mortgage broker - good friend

Any and all advice is of course welcome! My mind is open and I am excited to be here!!


Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10


You are amazing! I am exhausted with that post. I bet your head is spinning. (and not in the linda blair/exorsist way) Way to make it happen. Those REO's could definitely be your bird dog deals for your Investor. COOL. Can't wait to hear more. Am motivated to call banks now!



Cathy B

Follow my progress at:


Seems like you are on aroll. So prior to end of the year you may have more than 5 deals. I wish you all the luck. You are so amazing at documenting minutest of details that it becomes an education in itself for other people (like me). So detail oriented. Congrats.

Great going.



Wish Everybody a great success in their Real Estate Business

Cathy & Bimal - and goals for week

Cathy - Thank you!! HA ha...your Linda Blair comment made me laugh! Thank you...I'm so glad you mentioned the birddog contact from last week as I had all of a sudden forgotten he asked me to do that from the networking event! Too much happening! I'll give him a call today to touch base! YAY! BTW - my 2nd bank I called - not so good (I just didn't happen to report Smiling Basically they don't work directly with investors and list all their properties immediately...had no interest in talking with me. So, I'll try, try again with other banks. Gotta wait because I'm a bit overwhelmed with properties on just this one! Smiling

Bimal - Thank you for your comment! I know some of these "in the works" may fall through...bank may take their time on accepting and on a few of them, I may have some other competition. So I will be patient. If I can get these to work (several of them) to close before the end of December, that will be wonderful!! But I am here for the long haul. And the goal is still 5, so I plan to keep the same energy going and if I can continue to get offers out there each week and be aggressive about it, then I'm hopeful those 5 will fall in place. I know it is such a numbers game (sales, sales and more sales), so I can't just make 5 offers from now through the end of December in order for 5 deals to work out. Some will fall through. I have to keep that in mind! I have to keep my number of offers going out HIGH so I can capture at least 4 more deals (+ my one in the works) in order for 5 to truly work out! I definitely have my work cut out for me!! This month will be intense, but I am ready for it!

No major updates at the moment. I have had to work (non-RE) a good portion of yesterday and today, so my goal is to run numbers on these bank properties and FSBOs and think about what my offers are tonight to send off tomorrow.

Goal is to offer on both 8 & 9 tomorrow.

Then make an appt. with the FSBO to review offer and numbers for early next week (they said they are in no hurry...one is recovering from being in the hospital so after the holiday would probably be best anyway).

Stopping by the bank this morning to drop off keys for Prop 8 & 9 and get another quick face-to-face with the asset manager. So that's good prior to my offers tomorrow. Just saying that "offers tomorrow" makes me NERVOUS!! Smiling But I have got to press ahead! And have a plan...I'm thinking the Carol approach (Freeindeed) will be best here with the double-close on these REOs and/or birddog to my contact. Gotta figure out these earnest money payments and work on more buyers. Super priority for next week!!

Trying to get everything in and done tomorrow. My Grandma is coming for Thanksgiving and will be here through Sunday so not much RE going on.

Monday - I close on Prop #6. YAY! Rehab begins ASAP. Reminds me, I need to touch base to make sure we're good to go on getting rehab started absolutely!

I see why people have assistants!! Of course, I am FAR from getting one at this point - but man - so much juggling to do! I guess it is whipping me into "time management" shape...because if I fail to manage it properly it will get the best of me and I can't let that happen!

More later!


Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10


The very fact you are taking tremendous action and the time and effort your are investing that in itself is a great achievement and is inspirational to people like me.

In my opinion you have prepared the runway and taking care of minor impediments but you are about to fly.

Wish You all the luck. How many deals you make is important but at the same token the experience that you have gained far outweighs the tangible at this point.

Best of Luck and regards,


Wish Everybody a great success in their Real Estate Business

Continue the good work

Louisa, you are doing great, one deal under your belt, someone to birddog for, and out there looking for that next deal. Let me pat you on your back, beccause you haven't taken the time to do it yourself. I look at your journal everyday to see whats happening in your REI. Keep up the good work and you will get Those 5 deals by the end of the year. Don't forget what you have already acomplished. You are doing great. ----- Kolby

Bimal & Kolby & Update on REOs

Bimal - Thank you for your words - I SOOO appreciate them! Butterflies continue to be in my stomach, but I guess if you are not uncomfortable, you are not truly moving forward and learning in order to succeed! Thanks for your encouragement!

Kolby - I'm honored that you stop by my journal regularly to see what is going on...thank you for checking in on me and for your comments and strong encouragement. I appreciate it! Thanks much!

I hope all is going well in both of your RE worlds!!! Cheers!!

So, today was the day I was to make an offer to the bank on 2 properties. I guess from Joe's posts, I had it in my mind that I would literally be emailing the bank an offer and bulleted list of my terms. But after talking with the Success Academy - it looks like it would be better for me to present an actual contract in my email.

With that being the case - I can't get that done today....basically, I don't have one to use, and don't have time to really get into the nitty gritty of the ones I've downloaded from Dean's site and other sources on the net.

I understand an agent would help with this process. But I'm just trying to avoid all the questions of the agent about my buyers, etc... Really, while an agent should be an asset and easy to work with, as I get started, I am just tired of all the 20 questions and just wish they would have faith. So I would rather go it alone by offering to the bank directly and deal for now until I have some success, and find an agent willing to work with me upon that success and open-mindedness, etc...

Things I have to consider:
--This is a bank, not an FSBO, so my one page contract will not do for a bank - I need a more standard contract of 5-6 pages for a bank.

--I have found a few standard contracts, but need to alter them for best use for REO properties as some of the terms don't make sense for these.

For instance - I have learned that:
--Bank owned properties do not need a title search because legally a bank cannot sell you a property with a lien on it. (not sure I am right, but have heard not to pay for a title search when a bank should ensure this ---so maybe I just have a phrase in my contract that ensures the bank is selling me a property free of liens and encumbrances.)
--Need to add earnest money phrase of earnest money is $1000 due 14 days after contract is signed by bank (in order for me to get money from my buyer)
--Need to somehow have terms that allow me to access of keys of property when needed prior to closing for consultants etc... (basically to walk my buyers through)
--Of the "form" contracts I have on file ...some mention mortgages, etc...and this won't be a situation where I need that...not sure if I just take that stuff out completely or what?

(My plan is to use transactional funding for my proof of funds and do a double-close with my end buyer)

--From what I understand, there aren't really contingencies you can use with bank owned properties like you can with FSBOs. You are either purchasing the property or you aren't. Period. So is this true in this case? Am I leaping completely by offering? Are there any contingencies a bank will indeed consider?

Just called the Academy about all these questions as I began to look at my contracts and they are in a training meeting, so I'll just have to wait.

A little discouraged that this formality is holding me up and one that can take so much time, but again, once I get through getting the contract right, I'll be able to place many offers on REOs and move forward in this area.

I just want to make these offers by Friday no doubt! But a lot going on between now and then. We'll see. Have to cook some tonight...not sure, but hopeful I can work on the contract a few hours today to get something in place I feel comfortable with.

Thanksgiving is almost here! I love this holiday! So much to be thankful for!


Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10

Closing Done! REO offers! Starting Rehab!

Wow! Has it really been 6 days since I wrote in my journal!? I hope everyone had a great Thanksgiving! What a great day that was!

I'm limited on time here...so trying to make the most of it for now.

Yesterday was closing on my property! Whoo hoo! Rehab starts today.

Things I learned at closing:
-Always bring your drivers license (haha...I had never done business with them before, and for as many ways I thought I prepared for everything, I had switched wallets and forgot to move my license....they being my title company were VERY nice about it and said not to worry about it...I still felt a little silly!)
-My closing was with an out of state seller, so their title company represented them and my title company/attorney represented me
-I showed up at 3:10 for the 3:30 closing, and exactly at 3:30, I signed a couple documents, they made copies and I was out of the office by 3:43pm
-Thought it was interesting that the wholesaler (between me and seller)...his settlement fee was shown on the final HUD statement: 1% of the total: So, around $1600 paid by the seller
-So that would mean, it was somehow tied to the contract, and not a separate contract between wholesaler and seller
-So, I know if you haven't followed this deal, you're thinking...how good of a deal could this have been if there was another wholesaler in the middle? In this case, $1600 on this property at this price was still a steal as there is a lot of spread
between repair and ARV to make it all very worth it.
-Glad I joined the local investors group here...I got a $50 discount on the closing costs (with the title company)
-Per Anita's awesome post about saving money on title insurance that Sissy referenced above, I asked for the re-issue rate with the title company. This will save me $100 when I go to re-sell the property once rehab is finished (the title company will cut me a check)
-At the end, the title company coordinator asked me if I had made arrangements with the seller to get the keys. I laughed. And let him know...that well, when I first went to look at the property and called because I couldn't get in...the seller let me know at that time to break a window or use a drill or whatever means I could to get in the property and look around. He laughed and said "so you're all set" Smiling

In Review:

Rehab Estimate: $26,450 + appliances + simple landscaping
House + Rehab = $63,861 + insurance + electric
Conservative ARV with added bathroom and square footage: $110-120K

Other costs coming soon--
House Insurance
Electric Bill

First Steps on Rehab: Six to Eight week process
LATEST finish date: January 28
EARLIEST finish date: January 14

-Yesterday walked through with rehab guy to go over more precise layout and preferences (more closet space, pantry, open window for kitchen into dining room, laundry room extension, master suite bathroom placement, which walls to break down, etc...)
-Today, rehab guy is there, has locks, padlocks and keys and necessary boards for certain doors and windows for security.
-Week ONE: Demolition and Electrical wiring - New wiring needs to be installed throughout. We are gutting one bathroom.

-Received complete break down of timeline from contractor

-Getting signed contract, and payment plan established with contract
-Making sure I have his insurance paperwork on file (more details below)
-Main concerns: If materials are stolen or something happens, want to make sure contractor is liable (if my insurance doesn't cover)
-Getting electricity turned on
-Getting house insurance for house (probably should have had this in place, but getting it ASAP)
-Meeting neighbors to let them know we're starting this process, handing out my card, letting them know to call if they see anything suspicious going on at the house, and getting the word out there to let "any friends and family" know there will be a nice house next to them on the market come end of January/February

PROPERTIES 8 & 9 - REO Offers
-Per Joe's advice per my questions asked recently on this offer process, I am emailing my offers today. Butterflies, but I'm going for it. I have more deals to get done in December, and I need to GO FOR IT, have faith, and just leap!

Here's his great advice: http://www.deangraziosi.com/real-estate-forums/buying-foreclosures-reos-...

PROPERTY 10: FSBO - Making appt for Thursday to sit down with homeowner (got a lot going on and a little swamped! Just want to get this one in and get it done)

These keep coming from my bird dog. Building spreadsheet this week, fine tuning my process for finding these folks. Spoke with him today and will send "status" spreadsheet to him starting next week once a week. This will keep him in the loop on where these are in the process. No big strides here so far...I still feel like I'm getting in the groove and getting the ball rolling on this one. Will keep you posted if I have any good contact on these deals.

WRITING CONTACT TODAY: that wanted me to bird dog for him on residential for $5K a piece. Gotta get in the loop and get what he wants (and hopefully these REOs too!!)

Oh, so much to catch up on after the holiday!

Hope everyone is doing great and taking action. One deal down, more to go...and my stomach is now in knots again over the newer ones with the bank!

BTW ---Just some good advice I found on contractors online (my apologies that I don't know where...I like crediting people, but had cut/paste/emailed this to myself without a link):

----Establish a payment plan. You can tell a lot about a contractor's financial status and work ethic from his payment plan. For large projects like remodeling, never work with someone who demands half or more up front, or who will only accept cash. Work out a fair system of milestones, generally 10 percent upon contract signing, three payments of 25 percent, and the final 15 percent when every item on the punch list is completed.
----Be wary of the lowest bid. Contractors who low-ball are probably cutting corners or may not be properly insured. The most critical factor in choosing a contractor is how well you and he communicate. All things being equal, it's better to spend more and get someone you're comfortable with.
-----Draw up a contract. Make sure the contract details every step of the project: payment plan, proof of liability insurance and workers' compensation certificates; a start and end date; specific materials to be used; and a stipulation that the contractor obtain lien releases (which protect you if he doesn't pay his bills) from subcontractors and suppliers. Remember, a clear contract is the best way to ensure a successful project.

More later...Cheers!


Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10


on your closing Louisa!! Smiling Smiling Smiling Thanks for sharing all the details on the rehab work you are doing (and everything else too.) I'm so happy for you, you deserve this.

Your friend,

SPR Property Solutions, LLC

Congratulations Louisa!!I am

Congratulations Louisa!!I am sooo happy for you. One down 4 to go Smiling Hey how did you get rehab $$ did you do a 203k loan? just curious.
good luck on the rehab and sale.


All right Louisa. You got her done. And thank you for keeping us posted. Good luck on the next one..



Owen Properties, LLC

Wow...you're really doing it!!!

I've gotten caught up with "life" the past couple of weeks and haven't been on here and just finished catching up with your journal. All I can say is WOW, you're really doing it! Very inspiring, for sure! I definitely got somewhat into the paralysis-mode after Thanksgiving and really tried to get back on track yesterday. There's just so many more distractions around during the holidays and I need to find myself a good pair of blinders to keep me focused : )

Thanks for the inspirational posts and the best of luck to you in the weeks and months to come...

way to go!

I haven't seen any activity in your journal for the last few days. I figured you were out getting the next 4 deals lined up. Keep up the good work and keep us all posted on your progress. -----Kolby

Lea, Richie, Barbara,Suzy, Kolby

LEA - Thanks so much! Triple smilies and everything Smiling Smiling I appreciate your words and encouragement! Must catch up with you soon!

RICHIE - Thanks for dropping by! I hear the 203k loans can only apply if you live in the property (at least from what I've seen so far in reviewing other posts here). I just realized I never stated my "hard money source" here in my journal. As it turns out, I had some interest from a Craigslist ad I posted along with a couple other sources - a few people either wanting to partner, or lend money. In the end, my Dad decided he wanted to be my private money lender and gave great terms so YAY! A nice knot-free closing Smiling KNOWING exactly where the money would come from. I will have to turn to other sources for the new deals in the next couple of weeks, so we'll see where it all goes!

BTW - that reminds me - to everyone - beware if someone is trying to lend you money from the U.K. on Craigslist and be sure to not give them any personal information. Their terms look great. The references they give to check are email addresses that end in yahoo and hotmail with no phone numbers (in other words, they are probably writing their own references), and in doing further research ---identity theft and loan s-c-a-m-s are HUGE in the UK, and don't ask me how, but I read that due to these s-c-a-m-s you will wind up OWING your own bank when it is all said and done.

BARBARA - Thank you, thank you, thank you! I appreciate it! I hope you and your beautiful horses are well. I look forward to checking in soon with you.

SUZY - Was just thinking about how it has been awhile since I dropped a line to you. Thanks for checking in! Know what you mean about focus around the holidays. So much going on!! Thanks for posting..talk soon

KOLBY - yes, the heat is on for the next 4 deals. I feel like I'm stalling out by stopping to write in my journal at this very minute!! Thanks for stopping by...I appreciate it!

Updates to come!!


Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10


I won't take much of your time, I know you're on a roll and want to keep the momentum going! Woohoo!!
Just wanted to say CONGRATS!!!! and you are awesome!! Smiling


P.S. Good warning about the lenders on Craigslist! (or anywhere on the internet for that matter, even here!). Good to repeat that often! Thanks!


"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


awesome job!!!!!!!!! congrats on your closing !! you are working your plan girl!! you r reaping your rewards!! great great job and keep up the fantastic work!!


Click Here For homepage www.jaysthilaire.com
need to sell ? http://www.jayhousebuyers.com
Need me to FINANCE a home ? http://www.jaysrenttoown.com
CHECK OUT MY JOURNAL http://www.deangraziosi.com/real-estate-forums/investing-journals/20063/...

Rina & Jay ---and REO offers submitted

Ahh!! I got so caught up in these REO offers that I finally sent off to the bank today on two properties, that I forgot I have to work (non RE) today at 1:00pm!!

I gotta get moving!

First things first...

RINA & JAY - Thank you both for stopping by, for your kind words and encouragement!! I love it! Thank you, thank you!! Really means a lot to me to have the encouragement of you and the DG family here, so thank you for stopping by.

REO OFFERS - Property #8 and Property #9
I just FINALLY submitted them after Joe's great advice and help in his journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/20942/...

I was (and still am) so nervous! Watch, it might be awhile before I hear back anyway!

I submitted both offers and with both I have them closing before December is finished!

If I get word back on either of them in a positive way, I will post my offers here later.

I am hoping if nothing else, he still gives me keys to two more properties (which the asset manager mentioned he would be getting those keys this week), so I'm hopeful to look at those, and proceed with offers on those too. And get these offers accepted!! Then the real stomach knots will start...ha! Smiling

Tonight after work, I'm going to work on those vacant properties...get them all lined up (I'm starting to lose track) so I can set goals and get things in place to move forward in a more efficient manner.

REHAB on Property #6 is underway
-Signed contract yesterday with contractor who had already been planning, getting materials and property prepared the past couple of days.
-Insurance quote is slow, but should be coming today - will be getting that ASAP
-Electrical should have been turned on last night
-Hired service to mow lawn this weekend
-Water should have been turned on last night (as needed for checking of installation of new plumbing)

So much to do, so little time!

December is here!

28 DAYS LEFT AND COUNTING!!! 4 more deals to go.


Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10

Are you double closing on any of these deals?


Sorry another question

Are you using a Real Estate agent? I'm trying to get started in double-closing on REO's. Every real estate agent has told me that this can't be done. I saw a post earlier stating that they are going directly to the REO listing agent. What are you doing?



Hey there! Yes, with the REOs --as far as the two that I have offered - my goal is to double-close on one of them. And the other, to get 100% financing from the bank (per Joe's strategy). We'll see how it works out.

I have not heard back from the bank today after submitting my offers around 1:00pm. So I will wait on them and focus on some other properties! I'll give a call on Monday if I haven't heard back (just to get keys to the other properties) so I can hopefully move forward on other ones, and have a little "friendly reminder" to the asset manager that I'm definitely interested in more properties and in making offers.

The rest of my offers I will most likely double-close (if I can get keys to more properties and continue this relationship with the asset manager at this bank) to make offers on.

I have not used an agent on a double-close however, of course it can be done. Most agents just don't know of these techniques, and have never heard of a double-close, so therefore, there will be naysayers...but there ARE agents out there that will work with you...you just have to dig, find ones that are hungry to make money, and ones that are open to working with investors who are creative in their deals (and open to accepting they don't know everything about real estate...sometimes, this ego portion may be the hardest to overcome.) And no slight to the great real estate agents out there.

In my case, I'm calling asset managers that work at the banks (I'm not going through an agent) and I'm negotiating directly with the bank per Joe's strategies on REO's.

As far as making an offer to an agent representing an REO ---I see how this may be difficult (if they are not the agent representing you) in terms of a double-close. It's all in the details! This is why I'm convinced if you're going after an REO through an agent, and you want to do a double-close, you really need an agent that is representing YOU and understands what you are doing. Because if that is the case, your agent is on your side, understands your need to use your own title company for closing, and there isn't any need for full disclosure to the seller's agent which is representing the bank (who needs to know you are doing a double-close except for your own agent representing you?) as long as you somehow have access and/or arranged for your buyers to walk through so you can seal the deal with them in order to make it work. Having your own agent will legitimize you and the bank's agent is much more likely to trust another agent who can smooth it all over, than an investor like yourself. But on the flip side, some might say going directly through the listing agent is the way to go (I would think this agent must be privy to understanding the double-close and trusting you would do so...this would be the tricky part of working with an agent on the seller/bank side who isn't representing you). It's a lot of convincing to do to one agent whom you are only working with once....I just see chances being slim on this, but I could be proven wrong for sure...no experience here on that!

Hope I'm making sense....best of luck to you in your pursuit.

BTW ---Most of my knowledge here is purely academic (I've read a lot on this site!) so I stand to be corrected as I'm not based on experience here, but rather what I'm trying to model in taking advice from others.

Check out Joe's journal and/or enter REO on this site and search...there are a lot of great threads and especially if Joe is involved in any of them, watch for his comments. He's the REO master!



Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10

Congratulations Louisa

I have bookmarked your journal sometime ago but had not read it lately. I am just amazed at how much inspiration, knowledge and guidance you are offering through your journal. Congratulations in your successes. Be well, Jose

Thanks Louisa

Yep. It make sense. Joe has been extremely helpful too. I'm just a little nerve racked on getting started. I don't want to screw anything up. So basically, like you and Joe said, I will go to the Asset Manager at a small back to retain a listing of the REO's and make offers with them. Are you providing Earnest money?

When I receive the documents from the bank, I will sign it myself for the purchase contract, but when I receive the addendum I will include my end buyer and the title company that I want to use (that information is from the Kimmy - re Land Trust re double-closing).

Thanks again,

Congrats Louisa!

Congratulations on the close of deal #1. You seem to be lining them up. You are inspiring all of us. Keep up the momentum!


http://www.lvlinvestmentstx.usapropertywholesale.com - Dean's free website
http://www.fishbuyshouses.com - Company website

Jose, Anne, Fish + Buyer's List

JOSE - Thank you for your note. I'm honored that you have come back to read my journal. Thanks so much for your encouragement and your kind compliments. All the best to you and your investing!! Cheers!

ANNE - Yes, I understand wanting to be "perfect" when dealing with the bank in terms of having an impeccable plan because it is a little bit more intimidating than dealing with an FSBO (since you have all those built in contingencies on the FSBO contracts). I have not dealt with Earnest Money yet, and am hoping to get that from my buyers on the bank offers. This post from Freeindeed is awesome on REO - earnest money from buyers: http://www.deangraziosi.com/real-estate-forums/contracts-and-offers/3298... Hope this helps and Anne, let me know how things turn out for you!

FISH - Thanks for the congrats and for checking in! I appreciate it! Thanks again!!!

UPDATE: I don't have an update on my bank properties and I'm calling the bank this morning. Have to work this afternoon so I have a short RE day, but lots of goals to attain between now and then. Not much more to report at the moment...gotta keep the momentum for sure (thank you Fish!)

I enjoyed Dean's blog this morning. I can't agree more that your buyer's list is your most critical piece as a new investor, and I want to build the best buyer's list ever!!

I thought I would dedicate a little piece of my journal to some of my favorite "buyer's threads" here on Dean's site----if you have any favorites I have not listed - please feel free to post them in my journal. I always love to read more helpful material on this important topic!

BTW - a couple of them review the same things, but I always think different twists on a concept and nuances are good to read and understand!

Dean gave out a report called Find Funding Now in July. You can get a copy of it from this site below. It has some great tips! Here it is:











Let me know if you have others you like!!


Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10

Sorry another question

It looks as though you aren't usually a real estate agent. What are you going to do to show your end buyer the house?


Anne & REO update

Hi Anne! Oh, you don't have to have a real estate agent to show your buyer the house. As long as you have in your terms to the bank that you would like access to the house before closing for consultants to take a look (could be for repairs, for your buyers, whatever...you don't need full disclosure here from what I understand). It just is nice if you have an agent as it is just another way to leverage your time so you don't have to be there in person. Long term, it's just a win-win that saves you time, and the more you don't have to manage all yourself, the better. In Freeindeed's case, she has a disabled child so she's not able to leave the house, and she uses her agent to free herself up from having to be there in person (how awesome that real estate allows her to do this and be there for her child!) If I had a comfort level with an agent already, I would let them run with it but I'm just not there yet. Hope that makes sense.

So there is none really! I'm a bit baffled. So I made the offers on two properties last Wednesday.

-One offer was $80K cash on the bank's asking price of $105K
(This property would be a great one as there is a finished out basement that both the bank and the city are not considering in terms of square feet and the value add is awesome!!! Needs about $5K in cosmetic repairs, but would add a lot more value if you put in a total $10-$12K adding another half bath and even more square footage to the basement.)

-Other offer was 100% bank financing with terms, etc... offer price $35K on an asking price of $50,500....bank has been holding for one year, with no offers and no interest in it due to condition.

So, I thought my all-cash offer (which I would double-close) would be a good offer juxtaposed against another 100% financing offer (which I thought they might take me more seriously with the cash one first, and kind of "throw the other one in"). I'm actually just fine making all-cash offers, I just thought that I would throw in the financing offer since Joe had some success and this particular property that the bank has been holding for a year, seemed like the perfect candidate.

Not that I expected the bank to come back to me and say "great, both offers accepted with all your terms met"...right away, however, I didn't expect to be shut out of communication.

Basically, the way we left it just before Thanksgiving, is over the phone, that I would be making offers after the holiday, and he said he looked forward to seeing those, and that he would have the keys to two more properties for me by that next week after Thanksgiving. Great!

So I made the offers Wednesday with a note at the bottom that said I would still be interested in taking a look at those other properties as well.

I didn't hear back. So I wrote a follow up note on Friday about taking a look at the other properties. No word. (A reminder of how easy this is for him...he just leaves the keys for me to take a look at the front desk, and I return them promptly...this is how it worked before...after we met once in person)

This past Monday - I left a voice mail (I'm SOO not trying to be a pest, just trying to follow up) that just said I would be nearby his office on Tuesday morning, and would be happy to swing by if he had the keys to the other properties. He's really on the ball and I thought I would get a call back within minutes. But here it is Wednesday.

My thought is now, I really don't know where to go from here. This bank has a list of properties in which I'm interested in 2 more and regardless of whether they accept my other offers, I definitely want to be in the loop with them on future properties. I also know you can't force something that is just not working, but I guess I'm a little thrown off because this guy was so friendly to me at the beginning.

It makes me question my offers. And/or my protocol.

I'm pretty good at reading people, and I just haven't had the opportunity to "read" this asset manager since I made my offers. The lack of communication just tells me that something is wrong. And it's not worth his time to work with me. I also know that these REOs can take months for the banks to consider, etc...I just thought I would get an acknowledgement of receipt or something.

I think I'm going to make one last ditch effort to write a succinct email letting him know I'm interested in making all cash offers on the other properties if I'm given the opportunity to take a look, and since I didn't hear back, I just want to be sure I'm following the proper protocol as to not waste their time.

Ahh!! It's the fine balance between representing myself as a "serious" buyer, and not sounding too desperate...

If anyone has thoughts or advice, I'd love to hear!

I'm disappointed, but I think I just need to move on here....more banks, more calls, more buyers to reach, more deals to get elsewhere....NEXT!!


Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10


Just my thoughts.. It very well could be that they are just swamped right now, and he hasn't had time to consider your offers. Try not to read too much into it (I do that too). I know my gal at the bank says that year-end is SO busy for them. i think I would call and talk to someone under that person and ask if he's been available to look at requests, or what's happening. Maybe ask her/him what would be the best route to go as far as getting a reply, or what they would suggest. Just see what the situation is and go from there. Trust your gut and don't let him or your own feelings intimidate you. you ARE a serious buyer. He knows that. And you're NOT wasting his time.
The VP at my bank had told me one time that they had a property in their books last summer that they sold. The buyer offered just under full-price. You know what she said about that? "We must have started too low" (I made a mental note of that). So DEFINITELY I don't think the bank would not be shocked at your offers.
Hope you're having a wonderful holiday season in the midst of the REI, friend! Smiling
God bless you, and keep on keepin' on (with much peace of mind).



"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249

Louisa, your really rolling

Louisa, your really rolling along now, I would listen to Rina on this one, He obviously knows you are not wasting his time so why would he just blow off a good contact. It could be he is really busy, send him a box of cookies with your card attatched and a letter telling him to give a courtesy call after he has a chance to review your offers.
I think i got that one from Rina herself Eye-wink I am now realizing there is a reason why she bakes so much Smiling

good luck and i hope to read some good news soon.

Richie! lol

I didn't say anything about goodies, you goofball! haha (depends on how small-town the bank is, anyway. Eye-wink )

Louisa, you probably already had a plan in mind. I was just adding my thoughts, hope you don't mind. You are very wise and have an awesome heart, and have presented a very good case. I don't think anyone would just "ignore" you. Smiling

God bless,



"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249

Haha...you guys are making me laugh

and I definitely need that today!

Thank you Richie! And thank you Rina!

Rina - I totally appreciate your perspective and thoughts...that helps me a lot! Interesting on the bank's note of "we must have started too low." And I definitely don't have a plan that is "all wrapped up"...always love advice from my you!

Richie - Thank you so much for the comment and encouragement. Yes, we'll see where it goes! I appreciate it! The cookie idea might just be the right thing to do...I'll hold out a little as to not seem "impatient" here, but I may just add some homemade "something" to the mix....we'll see!

Thank you both for dropping by! Much joy, blessings and success to you this holiday!


Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10

Some news...

It has been awhile my friends! So long, I couldn't even find my own journal here! Smiling Which is awesome because that means all kinds of new people are starting journals and others are posting like crazy in the new year!

My month hiataus is due to some great news...it has just put me a little behind in RE, but a setback that will be a quick rebound and well worth it!

Funny to share this on an online blog, but you guys are definitely my family too, so here goes...I'm pregnant! My husband and I have been married for a little over a year now, and this is our first. We are thrilled! We have waited a while to announce, so I'm 3 months along, and I'm due in July....July 22nd to be exact. Basically, this meant for me that during most all of December, I felt terrible and had lots of nausea. I'm still involved in my rehab which completes in a couple weeks (exciting), and that was about all I could manage along with my other job. I'm on some medicine now, but bottom line, I was wiped out in December. Thought it was just pregnancy fatigue, but turns out, some levels in my body were off, and I was sleeping a good portion of each day away. Good to know that is not normal for pregnancy! I'm usually VERY high energy and I was wondering how anyone pregnant got anything done! Ha!

OK - done with the pregnant talk - on with the RE Smiling

So in addition to the wonderful news for our family and the planning that is already underway in adding a little one to our household, my RE goals are still HUGE for this year. I really want to get established as a solid investor having completed several deals, so that by the time the baby is born, I will feel confidant in my new role so I can just "jump back in" when I'm ready, and hopefully at that point, I'll be in the middle of another rehab (managed by a contractor) so I have a little time to be on autopilot with my input now and then. I've always thought investing was a great way to be able to have more time for family long term, along with owning your own schedule (with some hard work of course). And now, it's time to put my thoughts to the test!!

This week I will be setting my goals. My goals between now and the due date! It's kind of a fun challenge to have a due date as my deadline Smiling All I have to do is think of my future child and I get fired up to "get stuff done" right now in RE!! While I did not reach my "5 deals" for 2009, I feel so very blessed with what I have accomplished and the marathon that is still underway. This pregnancy slowed me down a bit in the beginning, but it is a huge blessing and one that will only propel me even more to be diligent in accomplishing my goals.

AND APRIL IS COMING - YAY!! I will be attending the Edge 2010. It will be my last plane ride before I'm due. Can't wait to find out the date and find out more. So I'll be a bit of a blimp when I meet you guys...hope you understand...ha!

Tomorrow is "Dean day" for me....catching up on his blogs, his last conference call (which sounded awesome), voting on the latest RE peeps to send on vacation, and catching up with my friends and their journals here! He has provided us with so much information and I've got to break it down bit by bit and apply it daily.

I love DG.com, have missed it, and I'm excited about deals in 2010. Rehab is going well. Working with a great contractor. The research is a bit overwhelming for a first rehab, but I'm learning a lot! Goal is to put it on the market by the end of this month. Butterflies...but all good stuff!

More later...


Current Journal on Dean's site: The Second Chapter: http://tinyurl.com/p986al3

First Journal on Dean's Site: From the Beginning: http://bit.ly/ocv10

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