OfflineWell here here goes ... the 1st post of my journal. Not quite sure where to start so I'll just start.
We began our new REI aventure in June 09. Actually this was Denny's (my husband & better half 
) idea. He discovered Dean and believe me I had doubts. Denny had done his research though and convinced me that Dean knows what he is talking about. Denny had already ordered and read PRFEN & another one of Dean's books and spent time on the DG website. I checked the site out too and read PFREN. So I agreed to support Denny's efforts and work with him. I love working with my husband and believe that real estate is definitely the way to go for us. There is soooo much to learn and discover. Every day brings new lessons and experiences in the world of REI. We joined the academy in June.
We started by meeting with out attorney to learn more, going over forms, etc. Set up LLC, met with accountant. The rest is not necessarily in the right order but you get the jest. We set up our website, are constantly working on building our buyers list (we are assigning properties), got business cards, searched for and found real estate agent, have looked at FSBO's on line and in neighborhoods (priced higher than FMV & higher than they paid 2 & 3 years ago) keeping our eyes on them, joined REI group that meets monthly and put magnets on our vehicles.
Our RE Agent has given us access to MLS through a new program he has just signed up for. I'm learning about this program and how to navigate it. Have a question in to him to find ou if I can search for specific criteria on these properties quickly. Being new to this program himself he will find out and get back to me today or tomorrow. It is time for us to start putting in offers.
We met another investor who specializes in short sales who we will be doing some joint ventures with. We'll be directing folks his way. It is important to me that the sellers understand the short sale process and agree to all that is involved. We will go with him when he meets people so that we have a better understanding of what he does and how he helps people. He has an online program set up so that we can track the progress of the short sale
I have printed out Rina's post about REI abbreviations/terms and will learn 2-3 new ones each day starting today. Thank you also to another DG family member for sending a list of REI terms too - will learn those also.
On a personal note well let's see. Last year I lost 25 lbs. but haven't been able to shake off the next 23-25. Up until last month I have been walking 5 days a wekk however haven't been able to put an end to my love affair with chocolate and our late night rendezvous - LOL . When I get up now I immediately think REI and have been procrastinating when it comes to exercise. On the bright side I've been eating less chocolate and eating healthier things. Have to find the balance here. The weather is showing the first signs of cooling down and walking is catching my interest again (tomorrow morning a cold front is coming our way and it will be 68 degrees, must get an early walk in!!) We are in SE FL and live close to a beautiful wooded park with trails. During the winter months I especially love walking in this park (too many mosquitoes right now - will wait until it cools off a bit.)
My passion before REI was working with/helping my elders and those afflicted with Alzheimer's disease. (I'm not a nurse or an aid but have lots of personal experience with this and have also worked in this setting.) I have such a soft spot for my elders, love hearing their stories and love to make their days brighter. I will get back to this on a volunteer basis someday.
That's about all for now.
Lea
SPR Property Solutions, LLC
we met with friends who want to do a SS on their house. I mentioned them in an earlier post. He lost his job last week so it became urgent to get a SS started ASAP for them.
Tomorrow morning we are meeting with a lady who is in a hurry also to do a SS on her property. This one will be interesting because the house has Chinese Drywall.
Lea
SPR Property Solutions, LLC
Hi Lea-
First, I have to apologize for not checking out your journal earlier. You posted to mine back in November, but I still wasn't too sure how I felt about journaling online.
I just spent the last 2 hours reading through your journal, and I have to say that I am impressed! You are learning so much and are working so many methods at once. Way to go! I have bookmarked your journal and will keep up from now on. Great job!
Take care,
Lisa Stafford
Clean Slate Property Solutions, LLC
Thank you for your kind words & encouragement. From reading your journl I know how busy you are and appreciate you taking time to stop by. You have some great things going on in REI! And I wish you lots & lots of success!
We met with the lady today who is interested in doing a SS on her property (the Chinese drywall house.) Her husband will be signing the paperwork in the next couple days. We have a cash buyer who likes major rehab jobs already in mind for the property. I don't know much about Chinese dry wall other than it causes respitory problems (maybe other health issues I don't know about?) and it can require (depending on how bad it is) new walls, new electric, new plumbing and new appliances.
Another lady called today who wants to do a SS on one of her rental properties. She lives in Ft. Lauderdale but will be up her on Sunday checking out her property because tenants just moved out. She wants to give us the keys to the property, so we'll get some of the paperwork signed/started (our partner will be out of town on Sunday & he'll follow up with her on Monday.) Denny drove by the property and saw a sign on the window that said 'Your Next.' Wonder what that means?
Another lady called about a property she has and she is currently trying to get a loan mod done on it. She wanted information about SS's in case the loan mod doesn't work out. Then she said she has a townhouse in Palm Beach that is going into foreclosure and she would like us to help her with a SS on that property. We don't usually work with townhouses but after our partner resesarched it he is interested in pursuing this one. I've left a couple messages for her letting her know we can help her.
Yesterday after we signed our friends up for their SS the husband said that he can do rehab work (I had completely forgotten about some great work he has done on properties they used to flip.) So I called one of our rehab investors to find out if he can use any help and he said he could. I gave them each other's contact info and they can go from there. What was interesting is this buyer doesn't buy in our town or at least didn't a few months ago. He is setting up a rehab crew in the area (that's where our friend comes in handy for him.) Another good reason to keep in touch with your cash buyers - they are always changing.
Lea
SPR Property Solutions, LLC
Your days are so packed full. And all those short sales! That's awesome!
I too want to know what "Your Next" means. I'm tempted to put that on one of my houses because it is bound to catch attention. LOL. Let us know when you find out.
Thanks for sharing all the great stuff you do. I love learning from your journal!
Rina
"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
Thanks for stopping by it's always great to hear from you. I'll be sure to let you know what 'Your Next' means. It has my curiosity ..
Lea
SPR Property Solutions, LLC
Hey whats going on Lea. As always its a pleasure to stop by your journal and take a walk with you on your path to success. There are always so many things to see here and experience if you know what I mean. "Short Sales, Contracts, Cash Buyers, Oh My!" LoL And that is a beautiful thang because it shows that you are ready to grab REI by the horns and run with it!! I wish you and Denny all the best!!
Best Regards,
Shane Gore
"People Build People"
Hey Lea
I am pulling for you to get those SSales done!! I did get into the one I spoke to you about. I am not really sure on how I am going to pull it off,but I am going through with it. The REAgent that my cousin has involved is a dummy, so she now told him I speak for her and to do what I tell him. He contacted the bank and tried to do a loan mod instead of a SS and wanted her to file bankrupcy, she called me and I told her to stop him. she only has like 3k in CC debt and will be fine once she unloads this house. So he now said he will meet with me next week to discuss how to approuch this. I got in touch with Matt and he said I can do a double close if I have a cash buyer at the end,so that is what i will shoot for. I really want to get it done so I can give her a nice check to get on her feet,even If I get nothing, the experience will be my pay. She is still having a tough time handling her husbands death and called me yesterday crying.
good luck on your deals!!! I will keep in touch, If I can get this guy to release her from the contract I will call you and your partner to see if you are interested in working with me.
Richie.
Thank you for your encouraging words! It means a lot that you would take the time to stop by. You are funny - I like the reference to the Wizard of Oz. I've been called a lot things but never the queen - wonder if I can get Denny to say this LOL
He works hard too and it's a blessing to be able to work with my husband.
It is getting exciting now and we are starting to see more results from our actions. We had a sign up last week & 1 this week and have 2 in the pipeline at the moment, and a total of 3 SS's in progress. Our phone rings more often these days.
Lea
SPR Property Solutions, LLC
Your cousin is so blessed to have you on her side looking out for her, you are a good guy to be looking out for her. I know it's got to be tough for you to see her going through this. Why would the REA take matters into his own hands and try to change her direction? When people call me I NEVER try to sway their decision - who am I to do that?
We would be happy to help you in anyway we can, BUT (this is a big BUT) it is illegal in FL for the homeowner to make any profit from the SS (this is called an arms length transaction.) The law may be different up your way. I would certainly be happy to talk to you & our partner and see how we can help your cousin & you.
Lea
SPR Property Solutions, LLC
We would be happy to help you in anyway we can, BUT (this is a big BUT) it is illegal in FL for the homeowner to make any profit from the SS (this is called an arms length transaction.) The law may be different up your way.
You know Lea, I totally forgot about that law, I believe it is the same here. Well I will just hire her afterwards and pay her a weekly salary for tracking leads for me. There is always a solution to any problem
I am way ahead of myself because I don't even know what the bank will sell it at, that is why I need to sit with this agent. If I can't get him to release her I will make sure he puts in a low offer for me with reasons I will outline for it. Then I will go from there.
thanks Lea
Richie.
There you go again with the 'can do attitude'
Some banks will forgive the loan and some won't. We always submit paperwork at the start asking that the loan be forgiven. Please keep me posted on how this works out for you and your cousin. Go Richie!!
Lea
SPR Property Solutions, LLC
Hello,
Thought I would stop by and read your journal and say hello!Things are moving in the right direction and it can not be long now for a deal...I am pulling for you!I have read SS are good for NMD and assigning.
I am in the Tampa Bay area(Tampa),I do not know about your area but here...You can throw a rock in any direction and hit a wholesaler,It's all good,Some are good to net-work with and some want nothing to do with you.I believe wholesalers teaming up can bring high returns on making deals,But having trust is the key!
Can't wait to see you post that deal
Randy
Invest in yourself!
Hi neighbor from the W Coast! (My sister-in-law & neice live in Branden.) Thank you for stopping by and for your comments. I really appreciate your kind words and that you are pulling for me. I wish you great success! The SS's we close on will be assigned or our partner will hold them.
There is a wholesaler in the REI group. When I fist spoke to him about working together he didn't seem to have much interest and also seemed a little leary/distrustful. He said he didn't want me to steal his buyers and if I did he would never have anything to do with me again. You are absolutely right trust is key.
Take care,
Lea
SPR Property Solutions, LLC
we met with the couple from down south of us at their rental property. Our partner will be following up with them tonight. The house was dirty and smelled like dirty dogs. They left food in the fridge too and junk in the garage. The house needs a fresh coat of paint & new flooring. This is the house that had the sign on the window that said 'YOUR NEXT' in writing like spooky Halloween writing. I think it is another 'leftover' from the tenants (from last Halloween probably)
A lady called today to do a SS on her property. This one tugged on my heart strings because I could hear the sadness in her voice (and she has children) but she is 'ready' to do a SS, after talking to the bank for a year about a loan mod. Her, her husband and their children are living on their boat now in Ft Lauderdale trying to save some money. Our partner will be talking to her tonight.
She said her & her husband put a new roof, new tile throughout and all stainless steel appliances in the kitchen & new W/D. Right now they have friends staying in the house just to keep an eye on it.
A gentleman called a little while ago and wanted us to negotiate a SS for him and sell the house back to him. I explained that this is illegal in FL and that it is also illegal for the homeowner to make any money on the sale of the house. I felt so bad because he sounded as though he had it all figured out and then I let the wind out of his sails
We talked about loan mods & SS's. He said he has a lot to think about now. I told him to give me a call with any questions if he wants to pursue a SS or if he has any questions.
Lea
SPR Property Solutions, LLC
Lea, I've got to spend some time going back through your journal again. I may have missed your information on how to do a ss. That may be a good road for me to try. It's hard to find anything on the mls that hasn't already got a offer on it from another investor. Forget the REO's, they're snatched up faster than anything. I've got to start trying some other roads.
Your doing GREAT. I know I'll be seeing you and Denny on an Empowering conversation vid. soon.
Keep it going lady... Love watching your success.
Blessings,
Barbara
Owen Properties, LLC
Hi my friend. Thanks for stopping by and thank you for your kind words of encouragement. I know what you mean about the REO's same here. When these properties go to auction cash investors get into a bidding war and it has driven up the prices.
I'm still learning about SS's but our partner has been doing them for about 2 1/2 years now.
Our partner spoke to the lady with the house that has all the work done on it (new roof, etc.) This one will be a hard sell but our partner has a gift with this. I'm learning that even if this one doesn't work out to MOVE on.
I haven't heard back from the lady with the Chinese drywall property. When we 1st spoke she sounded determined and fed up with it all (after talking to the bank since 07.) When we met with her she had very little to say almost like 2 different people. I know that she is run down by it all (she did get sick from the Chinese drywall but is OK now.) I don't know if she is at the point now to really take action on the property or just willing to walk away from it all.
Still I know that no's will lead to yes's, it's a numbers game.
Lea
SPR Property Solutions, LLC
signed up. The lady with the rental property (the one with the property needing new carpeting & paint) signed the paperwork for her property yesterday. She has a 2nd rental property that she is also going to SS but has tenants in the house right now so is going to wait 3 months for the 2nd property.
Forgot to mention from a while back the other DGer will be working with us too.
Rina, if you read this I just wanted to let you know that I took your suggestion and did read Elena's journal last weekend. Thanks for the suggestion!
Lea
SPR Property Solutions, LLC
Congrats on the signings Lea!! Please let us know how it goes on the SS closes. I knew you were going to get it done
Thank you! I appreciate your kind words. I'll certainly be happy to let everyone know when we close on these properties.
I enjoyed talking to you today.
Take care,
Lea
SPR Property Solutions, LLC
helping his cousin with a SS on her property. He & I spoke and we are going to partner up on this SS.
Richie, I spoke to your cousin and she will have her REA fax the paperwork to me when he gets it together. In the mean time I've sent your cousin's property info on to our partner.
I'm really glad that we can work together on this.
Lea
SPR Property Solutions, LLC
Great Lea,She called me after you spoke to her and she feels a lot better about the situation now. She was happy about the status thing on line so she can see the progress. That made her very comfortable. I cant wait til we get the end price so I can market it to my buyers as well as it being on the MLS with Scotts agent. Please dont forget to tell him to use the info I gave you as a bargaining chip, I think it will help a lot.
Who knows, If this works out like I expect it to maybe we will do more together here as I come across them. I have seen alot of pre-forclosures in good area's but never thought to get into the SS side of REI.
Its my pleasure to work with you,Denny and Scott.
Talk to you soon.
Richie.
I am so glad that your cousin feels comfortable, that is important as a SS can not be an easy thing for anyone to go through. I really like that folks can check the status of their SS on line. It makes it easier for everyone. When I e-mailed Scott the info on the property I included the info you sent - thanks! We would love to work with you on future SS's. WOW! How cool is this?
Lea
SPR Property Solutions, LLC
Hi Lea. Just stopped by to catch up. It's so easy to get behind on journals. I could spend hours on here. Anyway it's great what you're doing with short sales. I just admire and am inspired by all that you're doing. Take care and wish you, Denny, and all the rest the very best. Thanks for the post in my journal as well.
You Can Do It!
Cathy
Thank you for stopping by and for your well wishes. You have exciting things going on now in REI and I wish you lots of success!
Take care
Lea
SPR Property Solutions, LLC
Lea & Denny,
Got a chance to read through your journey. Inspiring to say the very least.
I do have a question, how is the LLC working for you? That is what we have applied for and the route we are going. Originally we had thought LLP, but I pushed for the LLC. I hope I made the right move.
Stan
Soon to be:
Signature Properties of Texas, LLC
When one sets out to take Rome, TAKE ROME!
Greatness courts failure.
Hello Lea,
I just wanted to let you know that I stopped by and finally finished your journal. Wow!! What an adventure. Congradulations on all you have done and for the help you have been giving to everyone. That is awesome. It is because of people like you and others on this site that makes the impossible seem achievable. Thanks again for all you do.
Richard
Bothell, WA
Know what truely matters in life, consume yourself with that, and you shall never be disappointed, afraid, or alone. Give your gratitude always, give respect to everyone, and you shall never be anything less than what matters the most. Give praise to the Lord, forgive yourself and others, and with all of this together you will get a taste of what heavens lie ahead.
Thank you for taking the time to read my journal and for your kind words.
About the LLC, we talked to our accountant about how to it set up this was what we all decided would be best. I think it's different for everyone when setting this up and having an experienced accountant can help make sense of it.
I wish you great success in REI!
Lea
SPR Property Solutions, LLC
Thank you for taking the time to read my journal and for taking the time to make such a nice comment. The DG family is made up of so many helpful and caring people. It's great having this kind of support and knowledge from the experienced folks (Rina, Joe, Carol and soooo many others.)
Take care and I wish you lots of success in REI!
Lea
SPR Property Solutions, LLC
our friends that we are doing a SS for. They have friends, another couple who are upside down and both out of work (her just a couple weeks ago.) They are going to meet with their attorney to discuss their options and if a SS is the way they decide to go they'll be calling us for help. I guess there is much to be said for word of mouth.
No responses yet from the recent letters we have sent.
The SS we are working on with Richie (for his cousin) is being slowed down by the REA (plus he never submitted SS paperwork to the bank.) Richie is looking out for his cousin & protecting her and is now going to be contacting the board of realtors on her behalf. I contacted his cousin's bank (at her request) to let them know we are here ready to help with her SS as soon as this is all straightened out so they don't get the impression she wants her property to go into foreclosure.
We are bird dogging a property for our partner. Wish us luck on this. This gives me another opportunity to talk to our cash buyers. It also flls me in on any changes in their criteria. This property doesn't fit the criteria of one of our buyers but he'll be checking it out since he is in the area today (he lives in the keys.) Another one of our buyers just happened to be working on a rehab when I called him and it too is in the same neighborhood as our partner's property. The house needs more work than fits his criteria too (he likes minor cosmetic work & this house needs major work in the kitchen) but he wants to look at it anyway.
Tax Time: I've prided myself in keeping all of our tax documentation up-to-date and accurate. For many this comes naturally but for me not so much ... so I force myself to stay up on top of it (and have created ways to verify my accuracy in all of the paperwork making this easy & quicker.) However, a couple of days ago our accountant told me about something I missed so I had to work on this. It took a lot more time than it would have had I done it right from the beginning. Anyway, live & learn - next year will be a breeze right? Around the 1st of January all I had to do was hit print to have everything in order for our CPA and all we had to do was wait for all of the paperwork - leaving more time for REI!
The orange blossoms are scenting the air now and today was finally warm enough to open up some windows - YIPPEE.
So far this year I can count the number of times this has happened on 1 hand. Saw a snake outside today - EEEWWW! 
Lea
SPR Property Solutions, LLC
A while back I mentioned a commercial property we discovered. We sent some letters to the owner and one of the letters came back undeliverable (a month later.) So Denny drove by the property (in the next town over) and the building isn't there ...
I spoke with the man who runs the REI meetings and he isn't going to be holding any more meetings due to lack of interest.
This group meets during the day and is a free group, we just pay for lunch and $1 if a speaker attends the meeting. There is another group that recently started meeting in the evenings and from what I hear they have some very experienced, successful investors in the group who like to share their knowledge.
The silence is deafening, the phones have gotten quiet all of a sudden for the last week (with the exception of people calling about the property we are bird dogging.)
Timing is everything and Coach Fuller had a good post recently about wording our ads. I 'thought' I book marked it and would have shared it with anyone who missed it but didn't and can't find it now. What I took from it was ways to improve the wording we use in our marketing to show our strengths. So we have made some recent improvements.
I talked with one of our cash buyers and he is interested in marketing for SS clients. If Friday day works for him we will all be meeting with our partner) to talk about it in more depth.
I'm looking forward to meeting Rina and Kate next week.
Rina if you read this the expected weather forecast for Tuesday afternoon is 75 degrees but that could change between now and then. In my perfect world I would have found a restaurant with out door seating in case we wanted to sit outside. However, I'm not familiar with the area at all and didn't want to take a chance on a restaurant I've never heard of.
Since 03' I've been involved with the Alzheimer's Association as a volunteer. A few years back I was on the Memory Walk Committee but left in 07'. I've had invites to go back and would absolutely LOVE to, however do not want to make a commitment to them and then ignore my obligation because we are working on a deal. The door is open whenever I decide to go back. I still work on a smaller level to support them. This Friday night I'll be helping to work a table for the Alzheimer's Association at a community event and Denny will put out our bandit signs.
Lea
SPR Property Solutions, LLC