Donna's road to Success

WOW, Donna! You're an inspiration...AND you sound truly passionate...
and WOW!---your energy is awesome!
I really enjoy reading your journal entries! ~Thanks for sharing.

WE meet with our LO people on Friday to tie up the deal. Yipee I ask him If I just take over your payment for you would that work for you? Oh yeah it works alright! This will be our second meeting this time he want to see "what it looks like on paper" This is a 3/1 absolutily need nothing We will take it over for what her owes 120k, payments of 725/mo which is PITI and lease option it for 140k minum of 10k down for 1000/month.. That is 10000 dollars nonrefundable.. and 275/mo cash flow. I don't want to jinx it. I really like doing lease options

I received a sign call about a month ago on a duplex. It is 1/1 and is fully rented. We now have it under contract for 45k. The rents are 925/mo. The tenant pay all expenses. It will cash flow about 300 a month. It is zoned for another unit and is on a double lot. It has new plumbing and update electrical and a 7year old roof. It should be a good deal. I could assign it or hang on to it. What do you think we should do????

Happy Thanksgiving Everyone
I do hope you holiday is filled with happiness.

Hi, Donna!
You are unstoppable, woman!
I say hang on to it! I love duplexes!
Be sure the numbers work. With updated plumbing, etc., see if there are any transferrable warranties on the work. As with any rental property, be sure to set aside funds for necessary [future] repairs.
Perhaps, you could even build an additional unit on that extra lot (?)
Oh, the possibilities...
~Happy Thanksgiving!

Thank you Kat

I do love this business. We believe we will hang onto it and build another unit.

I love putting deals together and capturing one property at a time! hahaha I also have an LO deal line up.

Dan and I will be talking to our best PM guye next week about 3 deals, the duplex and another bank owner property and investing out of state with another Dger.. I can't wait I want to own 20 properties out of state. My plan is to use those properties to replace my income. And finally quit my JOB.
Enjoy the weekend!

pretty good day in RE at work. I opened up escrow on one house. I will make 2300 at closing. Posted ads on CL, made 2 offers, picked up 2 management accounts and found another buyer!!!!

Well we are doing an final inspection on the little duplex today.
Tomorrow we should hear from our lender. We will be discussing a few deals with him. The first one is the littel duplex, second is a 3 bedroom 2 bath home that is ugly as sin. It is a fannie mae REO and they accepted my offer of 73k. comps are coming back at 180k. so it is a great deal. We already have LO tenents ready to move in... my daughter and her family. They can't get funding so we are using our connections to help them out. We won't make a dime off this deal but what a great lesson for them. Anything is possible if you try!
The third thing we are presenting to my PM guy is out of state deals. Another DGer and I are trying to get something going Wish me luck please

Congrats...Acquisition $73K? Comps $180K...Sweet!
That's really terrific!

Like I said, Donna...YOU are UNstoppable! Soar like an eagle.

GOOD LUCK with the new proposition!
Donna Doooooooooooooooo!

Kathleen you are so sweet!!!! Thank you
We had our meeting with our PM guy tonight..... And oh boy! It was awesome.. I told Dan We just found the goose with the golden egg! He is very intersted in the deals we have for him. I am suppose to send him the numbers this weekend. I believe it is a done deal. He trusts us. Which he should. we have been doing business with him for 3 years and have always made him and his partners money. At first he was hesitent to say anything as I explaiined my plan. A little later he said is very interested in our plan and would like to fly out and see some of the properties...... He also told us had a deal closing and his partners with deep pockets would have somewhere between 450-650k to invest and they would like to roll that money over immedatily. He said'" I would like you to commit to doing this deal" I said, "We would love to" I am not sure how this will be structured. But I do know good things are going to be happening.

2 deals scheduled to close by months end... I haven't met my goal every month. But we have done a lot of business restructure. All positives that will result in a profit.

Yestrerday I spend most of my day trying to figure out how I can make this deal close........Uhhhgg. I spoke to my now x realtor and all could kept telling me is I knew you couldn't do it! You have done is all wrong! You are going to lose the deal!!" He is upset because I do not need him anymore to deal with my PM guy. He used to write all of the loan docs and we paid him 500-1000 to do so. Now I am doing it myself. So anyway that upset me for a while. I spoke to my new realtor partner and did what she said I called the title company that work with my PM guy and she told me its not a problem. We will take it slow so you get a system down....big sigh..... Title companies are so important. If you do not have one you like find one. It is like the magical Kingdom

Heheh...Atta girl, Donna!
Apparently, your former REA did not see (or has not seen) your mantra signature here on DG.com..."DON'T tell ME, I can't..." LOL
Admiring how you find a detour around every obstacle in your path!

you are amazing! look how far you have come. you go girl!!

Thanks Ladies... It doesn't feel like it sometimes. Today is one of those days. But you know me I'm not going to give up.
Today we were suppose to close on the house we are purchasing with PM for our daughter. You know it the deal it sideways totally! It will be a miricle if it closes at all. I don't want to tell her. We are already 1400.00 into the deal with EM and a 400 fee for our PM guy to write the loan docs. The other agent doesn't understand why my buyer, and husband, won't just close the deal. Well becuase my PM guy is picky, but the other agent doesn't know there is a PM guy!Who is calling the shots!! I am thinking I have everything figured out.
But Oh man we look like if=diots. DAn say well if we are so scared that we do not take action..then there would we be. He is right but goodness. I will be so happy when there aren't as many bumps in the road.

if we extend again the seller Fannie Mae will charge us 100 dollars a day. So about 500 dollars extra... Plus all of the other fees. Thank God ther is a lot of equity in the property. If I have the PM guy deposit funds into escrow then no matter what happens we will have to pay his points which is 2k.... It is a risk because what if we cannot close by Friday and Fannie Mae won't extend at all? we will lose about 3500.00!

Hi Donna keep that ball rolling and soon you will be making goals( nets) all over the place, isnt this business so much fun and how we are growing every day.Today got a call from one of my Realtors we cant look at two listings( homes today) her daughter is having a baby so she had to cancel todays showings thats ok have another one to find out about its vacant.Id like to have my phone ringing off the hook, my emails do at times with more info than I can consume, that first deal will be so sweet, I want it so bad I go to sleep thinking about and waking up thinking about it and it will come when I dont know been so close many times.Wishing you a very find day and much success, Jim

I think yesterday was the worst day.... I also most lost my deal.I did finally get a week extention. now having to find a new lender. My PM guy bailed

Dan and I were building a relatioship with an investor who has a large pool of money. but yesterday he yanked everything. I have been working on this deal with Fannie Mae, well lets just say they are a little difficult.... The going back and forth, up and down, was too much for him.... I fear he will not do business with us again.I got the impression thing is holding me responsible for all of the problems. The other agent is terrible to work with.
DAn believes everything will be fine but i'm not so sure. We do have another lender though and I am thankful for that. He has tenitivly agree to loan on the property. But I'm not sure what our next steps are at this time

Some how some way everything will work itself out.As I have said in another post...what I was once told I have learned to be true.It is that I learn as much if not more from my failures as I do from my successes.By that I do not mean to say that this deal will not work, but that in life and business it's like a roller coaster with highs and lows, ups and downs.We just keep learning and moving forward.

thanks

thanks

Just wanted to stop by and see how things were.

It's too bad about the PM guy, but I KNOW that you will find a way; as you always seem to. Sorry, I can't offer any advice, as I haven't been there before. But you have shown that you are very creative and tenacious, and I don't see you giving in!!!

Maybe when the 'dust settles' from this you can still salvage things with your PML!!??

- Good luck!

Things are going well. I just don't like no very much. We found another lender and Our deal should close tomorrow....right on time.

the guy is really something else. He thinks Im an idiot. Oh brother, He likes DAn though. And at this time agreed to fund another smaller deal. If you doesn't, we will not ask him again. At least for a while. One of the people he invest for. he has 6 wealthy clients that he works with, know about the whole thing and is no very happy..... I think I will be working on that relationship.
I put out a bunch of bandit signs tonight. it is 1230 and I just got home. My goal is to line up at least 2 more deals for Jaunuary, 2 for February... you get the picture. We have a ways to go to catch up with Matt Larson. So we are making and setting goal this week.Have a nice weekend

We finally closed our fannie mae deal oh what a nightmare. My daughter and her family moved in Saturday, we lease optioned it to them. I am so happy about it! Thank God it closed.

Hi Donna, I have spent my entire morning reading your road to success, I am again inspired! I really appreciate that you took the time to share your progress with us. I think we all get bogged down and look for ways to pick myself up and get moving again, I like how you shared how you got past things that slowed you down. Reading your posts and seeing your determination and how you are constantly working toward your goals in truely inspiring!!
Thanks,
Roger

Thank you Roger for the kind words and stopping by.
I am very termined, sometime i get a little sideways but i find my way back. I want to succeed SOOOOOO bad. I think writing everything down is a good exercise and a great time line to look back on because after a number of deal you forget some of the details. I when I started here I was inspired by other also.
Todate Dan and I have done 31 deals, not all profitable but all have had a great lesson in them. I wouldn't trade it. hahahhahhh!
WE have done all kinds of things. LOL All someone has to do is to tell me "you can't do that" and I bet I will find a way!!!

This year Dan and I are going to rock it!!!! He is out of the trenches ans is going back to investing. Awesome because we are a great team...dangerous

details to follow

Goodness I can't believe it has been 3 weeks since I posted!
so what has happened.... My kids love there new place. I was looking at my immediate family and I have had something to do with each of thier home purchases! Funny huh...
Our little duplex is getting ready to close with the PM guy money that doesn't like me. I hope he was just having a bad day! I will be a pretty good unit. Were are keeping this one.
I have set some goals and I will be making one offer a day. I have had 3 counters this week. I have a closing tomorrow and one in 2 weeks! We made our partner step down from his position. He was in charge of our company finances..... OMG he let 3 mortgage payments, different properties, be 30 days late!!!!! and of coarse that went on our credit. Dan and I were both so upset. But today I convienced the bank to remove them... bless Jesus.. I have assumed the role and have started working on the books. Trying to refi some of our properties, not only to get a better rate but to get some things off of our credit report! nite all more later

Finally got time to get in here and get caught up. You and Dan are doing so well!

I also watched some of the videos today. Yours is awesome! It was interesting all the way to the end. It is so strange when you finally see someone and hear their voice when you have been communicating in print for a number of years! You have a beautiful speaking voice and were very self assured on camera. Or at least that is how you came across.

It is unbelievable when we look at the dates and how long some of us have been hanging out here together. The time has passed pretty quickly actually. Even though there have been some days that have seemed like they would never end!

Valerie and I were talking today and saying if not for the relationships we have built here that have been so supportive, we might be just like so many others have been on this sight and just melted away into oblivion. I think building a strong network of like minded people that you can always talk to and understand what you are struggling with everyday is imperative to success! For me, that has been my #1 secret weapon!

Keep up the wonderful spirit and wishing you much continued success!

Karen

Donna I like the way you move one day this new guy will be right behind you. LOL!

Karen thank yu so much for the kind encouraging words.. We work hard and learning to work smarter. I does seem strange that some of us have been here for YEARS. And the support here is so amazing. I have made some good friends that I cherish. For me that is whay I will go to the EDGE again this year. It was amazing. I do hope Val is going too and I wish you were. But at least we can touch bases here. I know many others benifit also from you. Thank you for that. Thank you

Hey thanks for stopping by! I appreciate it