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
Hey Lea, Good luck on the SS marketing, thats a good idea and should bring in prospects.Good job finding a new rei club so fast.
I havent spoken to Karen at all this week but i plan on it Friday. I am guessing Sat is the release date as I expected. At that point you will have to get in touch with your partner and Get everything to you from Karens end in order to start this ball rolling.
good luck
Richie.
Thanks for the well wishes.
I was going to call Karen on Monday, by then she should have her release paperwork in hand. I would be happy to call her on Saturday. Then I'll call Scott & we'll get this moving.
Lea
SPR Property Solutions, LLC
Hi Lea. Thanks for your support and encouraging words. It's great to catch up what's going on in your world. Take care and God Bless!
Cathy
Lea, Karen should already have the paperwork, It was just dated for the 20th. I will speak to her Friday any way. I have been busy and running around lately and havent made much time to call anyone.
Thank you for stopping by my journal, it's always great to hear from you.
Lea
SPR Property Solutions, LLC
I just sent you an e-mail/update after talking to Karen this morning. Sounds like you could use 2 of you with all the running around your doing!
Take care,
Lea
SPR Property Solutions, LLC
Thursday morning someone called because they want us to do a SS for them. I e-mailed the authorization form and they signed it last night. When this happens (or doesn't) it lets me know how serious they are. They paid $247K for the property and it might be worth $90K (or even less) now. He is not working and his wife's hours have been cut back. Fortunately this isn't their primary home and he thinks they will be able to hang on the the home they are living in.
This coming Monday our partner will be calling Richie's cousin about her SS. Richie thanks again for placing your trust in us to help Karen. I'm looking forward to working with you on this.
These 2 SS's will be # 5 & 6 in progress to date, so we have been averaging 1 new SS a week for the past 5 weeks.
In an earlier post I mentioned that our friends would refer their friends to us if they decided to SS their home. They have decided to put a tenant in the property and are moving to Denver to be with their family. This was their dream home and they are retirement age.
I'm hoping the change we made on our bandit signs will generate calls. Last week we didn't put any out because we had so much rain and there were giant puddles on the sides of the roads. The week before 20 of the 24 were taken down (one was even run over and had tire tracks on it.) This happens sometimes (well not the tire tracks part), other times they are still there when we pick them up. This coincides with the lack of phone calls lately.
It's possible that one of our buyers is interested in the property we are bird dogging. This property doesn't fit his criteria or that of our other cash investors (it's a 2/2 and they want 3/2's.) However, the price is great even with 10K worth of repairs. This investor is a good guy, very ethical and cares about people. He would put more than 10K into the property because he sells to home buyers and he wants their home to be super nice when they move in. He said it is a good deal but because he'd put more $ into it and then pay his REA he isn't sure yet. We'll see how this pans out.
Working the table for the Alzheimer's Association tonight is off. The lady who works for the association has to be in Broward County tomorrow at 5:30 am (a 1 1/2 hour drive) for the memory walk there. There are not enough volunteers available to do it tonight without her.
Lea
SPR Property Solutions, LLC
I will pm you, good luck on the other SS you are working on.
Richie.
On Tuesday Denny & I got to meet with Rina and Kate in Port Charlotte while Rina was in FL.
Rina is just as knowledgeable, helpful and kind as she is on this website (no surpise there
) and it was fun to talk in person.
Richie and I talked about another SS possibility for us to pursue together. After talking to our parnter yesterday he said he isn't workinig with this lender anymore. They keep changing their policies mid-stream, investors can't flip properties, they require the homeowners to submit paperwork as well as our partner (duplicate info), they take 6-9 months to complete and in the end after an offer is made they raise the price 10K. Unfortunately it's at the point where deals with them don't close in the end.
The first SS we started in December is a no go. The BPO came back too high again and our partner has been trying to reach the owners and gets no response. It looks as though they have left/abandoned the property.
One of the gentlemen we talked to about a SS on his property never sent in all of his paperwork so this one won't be going anywhere.
Tomorrow we are going to meet our partner and the owners of the property who recently signed the paperwork for a SS on their property. They are coming up from Miami. I talked to the husband last night and he told me he worked with a company last year to do a SS on this property. They charged him $250 (this is illegal in FL) and they told him the SS went through. Then this company sent a **** check to the bank and skipped town.
A cash buyer left a voice mail message in response to and ad we didn't run. I called back knowing he was a cash buyer to add to our buyers list. His partner specializes in SS's and he buys some of them. He rehabs properties (will do extensive rehab even roofing.) Whoever ran the ad put our phone number down. At 1st I though he just mixed up 2 ads but he said he printed out a hard copy and had it in front of him and it said to contact Cynthia at our phone number. So whoever Cynthia is, thank you.
Our partner was searching for a REA in Queens for the SS we are working on with Richie. We found 2 possibilities. Shane THANK YOU for the REA referral in Queens!
This is off to a good start with the bank. It seems as though they want to help Karen.
We drove around looking at vacant properties & FSBOs and will be calling the owners or sending a letter if we can't reach them by phone.
We've realized that because our bandit signs keep getting taken down before folks see them this isn't working well for us any longer. We'll be checking around for property owners on heavily traveled roads and offer to pay them to let us keep a sign in their yard.
Lea
SPR Property Solutions, LLC
Hello Lea
Sorry to hear about the ss falling through, but there are more out there:)
About your signs being torn down, Is it possible to attatch them to a tree or pole? if so maybe denny can use wire and plyers and a small ladder and put them a little higher so its hard to reach.
good luck and I will talk to you soon.
Richie.
Hello Lea
Sorry to hear about the ss falling through, but there are more out there:)
About your signs being torn down, Is it possible to attatch them to a tree or pole? if so maybe denny can use wire and plyers and a small ladder and put them a little higher so its hard to reach.
good luck and I will talk to you soon.
Richie.
Thanks for your words of encouragement about the SS that's biting the dust. This goes with the territory. If it were easy all the time everyone would be doing it
Thanks for the good suggestion on putting the signs on telephone poles. Denny & our partner like this idea however I'm undecided. We can't be sure who is taking them down but I'm starting to think it might be code enforcement (because of the high numbers and the signs are spread out in 6 mile range.) and I don't want to push it. As I've mentioned early on code enforcement turn their heads on the weekends but if their people have to start taking sigs off of poles we may be pushing it. However, since I'm out numbered on this thought it could change
Someone called because they are in the process of doing a loan mod and they want to know what their other options are if it doesn't go well for them. The man just started working again after 6 months, this is a vacant property and the owners live in NY. The family is pulling together and his son and his son's fiance (who both live here) are willing to chip in financially to help out. They've got 6 months of back payments to catch up on. He is going to keep me posted or I'll check with him to see how this goes and how we can help them if the loan mod doesn't work out.
Lea
SPR Property Solutions, LLC
Lea, your not going to believe this, I went to a party last night, My wife comes to me and says 2 people at the party want my brothers house. They are having a child and love his house because its big.So with that I approached a guy that is a contractor. I asked him if there is a way to get a c/o done. He said his contact has retired but he would look into it for me. So now I am thinking I may be able to do a lease option on it if I can get the c/o done and they can afford the house at what is owed. She is a nurse and he is a construction worker. So i am going to have to do my home work.
I will speak to you soon.
Richie.
This is great news! When one window closes another one opens. I wish you and everyone involved the very best with this and am looking forward to hearing about the details.
Talk to you soon.
Lea
SPR Property Solutions, LLC
Lea I admire that when things seem to not look right you are able to adjust and come back with another plan of action. I think as a REI this is an important quality to have. For example you notice that your bandit signs keep get taken down and "bada bing bada boom" you kick your plan of action into another gear. I think I will also place my ads in people's yards or abandoned yards for that matter. I think I should also look into a magnet for my car. Thats what it is all about though and you are doing it because I can see your phone is ringing. You even have marketing going on that you did not create. WoW. Keep up the Good Work. There is someone out there who wants to be like you when they grow up!
Best Regards,
Shane
"People Build People"
It is always nice to see that you stopped by my journal especially knowing how busy you are. You are a mover & a shaker and reading your journal is such an inspiration to so many. Denny & I were recently talking about how much we enjoy your journal and how much we admire everything you are doing.
About the bandit signs in people's yards, Dean has mentioned this, Rina brought it up when we saw her last week and build assets mentioned in a post about putting them up in abandoned properties. This website and the people on here have so many good thoughts, suggestions and ideas that they are willing to share.
Lea
SPR Property Solutions, LLC
we met with the owners (husband & wife) of the most recent property that we'll be doing a SS on. The outside of the property looked pretty good considering they haven't made a payment in over a year (it had been a rental.) The neighbors mow the lawn once in a while. We got there before them and when I got out of the car and took a few steps towards the house there was a snake right in front of me (not a poisonous one) basking in the grass near the car (I hightailed it in the other direction.) While I was looking at a sign on the window and Denny was looking around the property he saw the snake slither under the garage door. Once inside we discovered the garage door leading to the laundry room was open and the snake could be anywhere in the house. I learned tonight that we need to keep a flashlight in the car for looking at houses (it was still light outside so it hadn't dawned on me.) The main part of the house looked great just appears to needs a little cleaning. The bedroom curtains were closed and 2 of the bedrooms were too dark to see much of anything. Since I had the 'heebejeebees' about that snake I didn't try opening the curtains in the bedrooms.
This couple called us in response to a letter we sent them. The husband said he received 2 letters that day, called us 1st and left a voice mail. Then called the other person who sent a letter too. I was the 1st to call him back so he went with us.
Tomorrow our internet provider is coming out to fix whatever is wrong, we have internet access sporadically. This is also affecting magic jack so our marketing phone line has been down.
Lea
SPR Property Solutions, LLC
You two should partner up with Indiana Joe! I could see you now with your hats and Dungarees battle the snakes and other natural wildlife in the Jungles of Florida to find the treasures that lay behind the doors of a good real estate lead. lol Wow its amazing because no where did I hear you turned around you still pressed forward with the ultimate goal in mind! Now thats classic and I could imagine the rush you got. I mean after it was all said and done you probably realized that you were actually having fun. When you get to the closing table you will remember that we actually get to make money to go on these ventures. Up here we might run into the crack heads that might litter a vacant building and down there its snakes....It is what it is! Keep having fun and doing the Damn thang! See you at the Top!
Best Regards,
Shane Gore
p.s. And by the way you guys are just as busy as me if not more, but thanks for the compliment.....!
"People Build People"
Lea,
Congrats on the works of another deal. It just goes to show you that he (or she) who hesitates risks the most. Way to keep up on your goals and to move faster than the other. Good luck and I hope you have a great week.
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.
LOL! Good one. Your description gives a clear picture in my mind about battling the natural wildlife. Can't let that stop progress though, right
When I 1st told the lady about the snake she was hesitant to go inside so I explained it was in the garage not inside the house, then we found the inside door open - LOL. Your right, it was fun meeting this couple (they have definitely come to terms with their situation and do not feel defined by their circumstances they just want to move on.) They feel a sense of relief now knowing they don't have to deal with the banks anymore.
You right Shane, we get to make money on these adventures. Here's to finding truly vacant properties from now on for you & us. See you at the top.
Lea
SPR Property Solutions, LLC
Thanks for stopping by and for the words of encouragement
You have some great things going on in your REI world too. It is interesting to see what leads us to a deal. We got this one simply because we called back before the other person or they would have gone with him.
Lea
SPR Property Solutions, LLC
Snakes?? well I guess its better than a gator:)
You never know what your going to come across when you are dealing with vacant houses. When Laura and I were looking at a home I had to go in through the basement window and the neighbor came out and said there was a giant racoon living in there, thank god I didnt run into it. I have come across a homeless person once which scared the hell out me and my agent lol.
well good luck with that home! I know your getting close to getting a deal done with all the hard work you and Denny are putting in.
Let me know if anything comes up on Karens house.
LOL - lions & tigers & bears oh my. Denny's family found a gator in the pool when they moved from PA to FL. It's a good thing you & the racoon didn't have a run in. Yes, I can see where you are just walking along in the house checking things and and finding a person would be surprising. But heck I'm surpised that doesn't happen more often.
Thanks for your words of encouragement Richie.
We'll be seeing Scott tomorrow late afternoon and I'll get an update for you on Karen's property.
Lea
SPR Property Solutions, LLC
The internet service guy came out and got our computer working right again
I researched the vacant properties we found driving around but wasn't able to find any phone numbers for the owners. So I mailed letters to them instead. One of the propeties isn't upside down and they've owned it since the late 80's. While driving around looking for these properties I would have missed one completely but Denny spotted it. It was so overgrown that I didn't see the house.
Yesterday we searched for more abandoned properties and will call the owners or send a letter if their number isn't listed.
Went to REI meeting last night and it was GREAT! There were 2 speakers (our partner was one of them and he talked about negotiating SS's in great detail.) The other speaker was good too and talked about the law of giving to others and how this benefits your business, personal life and spiritual life. It is a very energetic and friendly group of people. I didn't get to talk to everyone in the group but got a few business cards and will have to work my way through next time
Among the investors in the group there was also a HML, gentleman who does transactional funding and title co. in the group.
About those bandit signs mentioned previously, we've decided to give it another try in a different location, maybe we'll have better luck there. Maybe we are too close to someone else's perceived territory?
Our partner sold the property we were bird dogging for him with the help of a wholesaler (who was one of the people running the meeting.) He is going to pay us $500 for the work we did to help and the other things we have done to help him.
Richie is helping with the NY SS by being available to the bank when they do the BPO on the property and getting them into the house. I never thought when I joined this sight that I would get to work with another DG family member. This is so exciting for me and I've enjoyed talking to Richie and am looking forward to the day we close on this deal.
On Tuesday my cousin called telling me that our Grandmother was coming to her house that day and she wanted to come to our house to see Denny & I. My Grandmother lives in Massachusetts and is taking turns staying with/vising with her 6 children until she heads back north with the daughter she lives with. My Grandfather passed away in January (he was 99 years old) and they had just celebrated their 75th wedding anniversary in October. They met each other when my Grandmother was 15. It was fun seeing her and hearing her stories and we had a nice lunch together. Had I known ahead of time I would have done something more elaborate for her. She gets around very good for a 96 year old lady (no cane, walker, etc.) She was 3 years old when the titanic sank.
Lea
SPR Property Solutions, LLC
96 wow!! god bless grandma
Going by my family track record I wont make more than 1/3 of that lol.
hey Lea, you timed that call just right today. 30 seconds earlier and I would not have heard the phone
I am glad you and Denny found a great club to attend. That is important in order to make solid contacts.
I will call the Broker tomorrow, I never had a chance today. If you think thats a problem let me know.
good luck on those vacant homes, make sure you guys invest in snake guards for your legs;) You guys are in Florida so maybe Denny should polish up his allegator restling skills just in case. sorry I am a little off because im tired from going from nights to days yesterday and today.lol.
Talk to you soon.
Richie.
Richie, good one (maybe you are a little slap happy from the hours?
) I'll pass this on to Denny 
It seems I've been a bit scarred from that snake and am a bit jumpy when I see a twig or branch - LOL!
You are right I am so happy we found this REI club. The other one was run by a great guy and it was free but unfortunately there wasn't enough interest. The new one is $10 a meeting and has powerful speakers and many of the people are very outgoing.
I'm not sure if you'll catch the broker on a Saturday but it's worth a try - thanks!
Looking forward to talking to you again soon.
Lea
SPR Property Solutions, LLC
Hello Lea and Denny. Denny caught me off guard today when he answered the phone, I thought I had the wrong number at first lol. anyway,things look good. I actually like the fact that the house needs work to update, I think that works in our favor,it should help bring the price down. tell Scott to let them know it needs new floors, electric updating and kitchen and bath updating. I will confirm most of that tonight when I go back with the agent.dont forget its 2 doors from the firehouse and across the street from the church as well as on a main road that goes directly to the train station.
I am sure Scott can work with that:) What I will do is take pics tonight of the house as well as the firehouse next to it so scott can have them to show if need be.
good luck on the house hunting today.
Richie.
Hey Richie, Denny has many great talents but I'm the one with the gift of gab so it works well if I keep the phone on me.
Thanks so much for all the info on the property updates, photos and reminder, about the train station, fire station & church. I'll be sure that Scott gets the photos and all of the details. I can't speak for Scott but just know that he'll really like this and will include this info with the paperwork to the bank.
Lea
SPR Property Solutions, LLC
We got together with friends for Easter. They pointed out that the houses on each side of them and 1 across the street are going into foreclosure so I sent letters to the owners of these properties today. Our friends live in a gated community that is maintained so vacant properties do not stand out in the crowd.
These same friends are the ones that we are working on a SS for on their property. The husband called the bank on Friday and set up Monday with BPO agent to come out to their property. Our partner got a call from the BPO agent because the agent was standing at the front door and nobody was home. This is NOT a good thing to do to the bank when working on a SS. So our partner called our friends and found out they were driving across the state to the W. coast. Fortunately our partner was able to smooth things over with the bank and the BPO agent is scheduled to go out to their house Thursday morning. Good grief.
Have been talking to Richie quite a bit lately about the SS we are working on together. This morning he met with the banks BPO agent. I have to say Richie is determined and gets things done. He had a tough time getting into the house (needed a 2nd key) but DID get into the property and had a nice conversation with the agent
Go Richie!! He also met with the REA tonight. It is such a pleasure working with Richie. He is positive, upbeat, intelligent, likes people, is willing to do what needs to be done to keep things moving in the right direction and has excellent communication skills.
Today we drove around checking out more vacant properties. I'm researching these properties and will be calling or sending letter(s) to them tomorrow.
Lastly, this is unrelated to REI but worth mentioning. On Saturday, April 24th Denny & I will be walking at the Alzheimer's Association Memory to raise funds and awareness for the Alzheimer's Association. If you are looking for a non-profit organization to support I promise you this is an AWESOME one. Your tax deductible donation helps find a cure for Alzheimer's, support the safe return program (60% of Alzheimer's patients wander, my Dad was one of them. Fortunately I found him in the building of the Dr.'s office we were at and not the busy road the office was near. At the time Alzheimer's had taken away his knowledge that one doesn't walk into traffic and also his language skills. He was unable to tell anyone his name if they asked him.) Donations also support the nationwide toll free 24 hour helpline (available in 152 languages and dialects.) Here is the link to my Memory Walk website http://memorywalk.kintera.org/faf/donorReg/donorPledge.asp?ievent=317632...
Lea
SPR Property Solutions, LLC
Hey Lea, thank you for the nice words, You guys are equally motivated and great to work with. Sometimes life has a way of bringing great people together
not just in work ethic but in character also. I have become friends with some great people through this site and you and Denny are on that list.Of course Ultimately I have Dean to thank for this. I will do so at the EDGE.
Good luck on the forclosures, I hope you get a response. I am going to look at some pre-forclosures i researched in my buyers area.hopefully Sunday.
talk to you soon.
Richie