Donna's road to Success

what does that mean?

Yes we do hand write postcards. I pay someone to do it. I paid her like 17 cents a card. But now she is on staff and one of her duties is to write them... They work. sometimes its a slow process but they still work.

Hi All we have been busy. I am currently working 4 deals, one under contract, showing our buyer tomorrow. As far as working the deals Dan and I are dangerous together! and its so FUN! What is so interesting is that now we have buyers calling us for deals. I gotta find more. I picked up another 8 units for property management today woo hoo!!!

Im starting a lease option now also.
It will go quickly.I will write the details soon

And I believe I have a new building for us owner contract because it is a doctor buddy of mine. I love Private money

Congrats !
Keep us motivating with your success story.

Regards,
Bimal

we have had in under contract for a short period of time. Dan showed this property to one of our investor owners , He is so excited!! He wants it like crazy..... should have a whole sale deal completed soon and we will manage it also,er
I talked to another buyer today and he wants everything I can give him... Now I need deals please
working a deal with another DGer as my private money guy. this is so exciting!!

we have had in under contract for a short period of time. Dan showed this property to one of our investor owners , He is so excited!! He wants it like crazy..... should have a whole sale deal completed soon and we will manage it also,er
I talked to another buyer today and he wants everything I can give him... Now I need deals please
working a deal with another DGer as my private money guy. this is so exciting!!

So I wanted to talk about the latest deal that we've been doing. So I had sent this person and a postcard sometime back I'm not quite sure how long ago and he kept it he said when he got the postcard he was ready to do anything but now he was . He and I talked for a while and he told me about his house he told me that he knew the house was in very good condition and there was no way that he was going to put money into it because he didn't want to wast his retirement on a house and he didn't want to live in longer and he knew he was going to get about 50% of the value of the home.
The owner told me that he knew I was an investor and he knew that we would need a discount because that's how we make our living and he was okay with that. And that's exactly what I like to hear
I set up a meeting and then I met him two days later with his wife his wife was handicapped we toured through their house and it was a lovely home it's a five bedroom two bath house with quite a bit of deferred maintenance nothing we can't handle in my walk through the house and we figured we're seeing someone between 40 and $50,000 with the repairs needed.
Dan and I agreed it required a little bit more than we wanted to take on so we decided to wholesale it. the first person i talked to was interested. I had them do a drive-by he was so excited he couldn't stand it. Two days later Dan and the new buyer walk through the house with the buyer being a business partner of ours he loved the home and he wants to buy it. Dan negotiated $11,000 fee so we are whole selling the house for $11,000!!!!!! Dan usually does he puts down $10 earnest money to open up escrow. This is going to be a fantastic deal... The arv after rehab is150k

WOW you and dan are CRUSHING it as dean would say. thats fantastic. thanks so much for posting.

your Welcome Walt, When I started I read so many others journals and it helped me so much to read others successes I thought I would share

Thanks for sharing! Question: what does your postcard say on it?

Hi Donna,

I liked what I read as answered one of the questions I had about showing the house to a potential buyer. You projected your buyer as a business partner was
great idea, I will do the same next time.

Wish you success.

Our 4 hour deal!!! A man called me off a postcard of mine, that he had been holding for over a year. He told me he wasn't ready to sell then but now he was. Yippee!
Dan and I together have 4 hours tops in this deal. It is a 5 bedroom 2 bath home 4 houses for the Lake which is a good thing, In a B neighborhood. It is in disrepair which is why he called us. We negotiated a price of 72k he accepted that easily. In needs 45-50k in rehab.ARV is 160k.
It was more rehab than we wanted to do So we decided to wholesale it! We assigned it to the first person we told. He is a investor that we do business with. We manage all of his other properties. So we will be managing this one also.
This is our biggest wholesale deal to date. We made 11,000.00!! WIN~WIN~WIN!

Congrats Donna,

You make iit sound like a piece of cake.
Did you do a simultaneous close or you got paid on assigning?
How did you get paid, through your attorney or title insurance company.

Regards,
Bimall

Oh yea Doctor! Way to go 11k in 4 hrs yea that is $2,500 per hr! Sweet most attorneys don't even make that! congrats!

Thank you Tony!
Bimal, the new buyer, Sam, paid us 11000.00 right then when signing the assignment of contract addendum. The closing isn't until September. We already collected out funds. no attorney. Sam paid me, I went to the title company, turned in the assignment of contract addendum to the closing agent and she prepares and handles the closing from there.
the sellers are aware of what happened. They know our business partner,Sam, the assignee, is taking title in his name. they had to sign an addendum also, extending the closing a couple weeks, because Sam funds are in a 1031 exchange, The addendum told them about the change in buyers, the 2 week extension and that Im an RE agent in Washington state.
It sounds complicated but it really is easy. I hope that clarifies.

Thank You Donna for a detail explanation but I did not understand it completely.
Did you go to your title company or you and Sam use the same title company.
Does your seller know the fee you will be making, what if they object to the fee at closing.

Not sure why you had an addendum to assignment of contract, or You are treating assignment of contract itself as an addendum to the purchase contract.

Regards,
Bimal

Nice job on another one Donna and Dan ))) sweeeeet !!!!

Thanks jay!

I cant believe I haven't been here for 6 weeks!!! Shame on me:(
So to catch up......
I hired a PA (personal assistant), I had her for 2 week and yesterday I let her go because she wasn't an A player. Monday another person starts.

The good thing is that having her with me made me focus on the things I need to do as an investor and let go of things I had been micro managing, with out cause... I have a team in place that can handle all of the property management business.
So why was I micro managing????? Good question Donna! Im not sure maybe because I felt it was my obligation or because I felt guilty. The great thing is I realized that now and have taken steps to distance my self. my friend Roberta, always asks me, " What is holding you back for doing what you need to do? My answer is ME!!!!!
So i have really been focusing on investing. and like magic BOOM i am negotiating 6 deals currently with 2 pending on my 25:1 strategy. I have decided to expand our investing area. I have beefed up my buyers list and have some real buyers on it now. My goal is to be doing 3 deals a month from here on. Once the system is streamlined we will increase to 5+ deals a month the goal for this is January 2015.
Lets GO!!!!!

Donna you are rocking it, so amazing. Youre taking action nice. I am working on my end too gearing up & have added like 30 buyers to my list in the past 2 wks here in san diego, now will start making offers.

Great Tony I wish you the best and thanks for stopping by

what a day, inspected a property and it was worse than we figured.. So now to find another one
we are pending on a 10 plex, and 3 other properties:)
our plan is to wholesale on and flip 2.

what a day, inspected a property and it was worse than we figured.. So now to find another one
we are pending on a 10 plex, and 3 other properties:)
our plan is to wholesale on and flip 2.

third time is a charm..... I am trying out another assistant, she has been with me 4 days now. She can write and offer in under 5 minutes. It just goes to show you that people need to be doing something they are good and it because it takes me 1/2 a day LOL! we have submitted 2 offers a day all week. my buyers list is growing and is organized. Things are going well so far she was an assistant to a RE agent once before so running comp is easy for her and she is spot on. what I will have to monitor for is that she doesn't get sucked into the property management company because that is a soap opera!!! there is always something going on.

I am busier than I would like to be. quitting my JOB and running the business full time brought on some process improvement and it is starting to pay off. I revamped our maintenance department and we have double our income this is because we were not capturing all of our labor or parts! WHAT!! Now we have a system and over site. I think in a couple months everything will be on auto pilot. that is my goal...
Also, this month we completed our turnover's, which are getting units ready for rent between tenant move outs, in 9 days that is the best we have done! I am so proud of them!
getting processes in place and educating my staff lets me focus on investing!! and that what I want to do. I finally had to take Robert,my buddy's advice and just say NO, so my staff would stop turning to me for the answers to day to day events.
3 deals pending right now, focusing on deal flow...

You go girl!! Your doing awesome

thanks Carol

Hi Donna,

Nice to hear that things are working out great for you and looking to take the deal flow to the next level.

Being a person with great attitude and your helpful nature I am sure your goals will be met.

Wish you the Best.

Bimal

Thanks Bimal for stopping by. I wish you great success.

I am making 2 offers a day 25:1 strategy. 1 deal pending right now and a 10 plex, making an offer on a 7 plex tomorrow. And countering on the 10 plex from the inspection we did. I have 4 other offers I haven't heard back about yet
I had to back out of my only wholesale deal Here is what I learned from that- the house was to old, my discount was not deep enough, and it was a C- neighborhood, not a hot area.
Its a weird little community here. I already have a rep as a low baller and sometimes I wonder if they even submit my offers...
I am going to have to branch out to other areas soon.
My PA is doing pretty well I wonder if I am making best use of her time. tomorrow is day 10 for her. I am really working on getting my wholesaling investing machine running.
And for me it can not happen soon enough. my WHY has gotten stronger since I do not rely on a JOB any longer. I don't have that security blanket. it's all or nothing.

AWESOME !!! Keep that freight train running. Your momentum is compounding !!! LUV hearing what your accomplishing !!!!!!

I must say that I am truly inspired and rejuvenated by your posts. I was going to throw in the towel. AGAIN. But after reading your journal, I will forge ahead until I succeed. Please keep posting as I have learned a lot from you. I cant afford all the teachings that are offered so i am relying on members posts only.

Congratulations on your success.

soooo awesome! so proud of you! really way to go, love to always read your blog so funny & encouraging, btw I want to be off of social sec by next October now. God bless.