Donna's road to Success

Reading your story has given me hope agan .I have been getting a little doun on my self.Cindy and I were able to order deans book this week, NOW Dean e-mailed Cindy and is giving us more help.Thing are starting to look better for us.I was engered in a moter cycle acc,last year Im not able to work ,or do the things I use to do so Cindy is our only money maker .THis may sound like a pity party but it not .if I dident get hurt I wood still be working for 10 dollers an Hr.Dean has made this a good thing for me .And hereing your story and others like yours realey helps me keep trying Thank you and all the DG famley for giving me hope . Some day I will be able to help cindy she is my why.

You have to keep pushing forward. Do something everyday for your business. you can do it I am living proof! I am not the brightest bulb in the box, for sure.... keep reading and re reading Deans books. I wish you all the luck in the world. Stop by anytime

I still haven't found a new broker and I don't know if I will.

We are making repairs for our LO to get another tenant buyer in it. I need a few more deals.
A Vancouver friend of my sent a deal my way I don't think I will get enough discount but it is worth a look. We had a family that inherited grammas rental contact us. We are now managing all of them except 2 that are in very bad shape. We are going to make them offers next week for the land value only. One is condemned already... We could still make 3k a piece on a whole sale.

It was a very busy Monday.
My big monster house is getting exterior pain and now it is raining!! I have been on vacation from the hospital and i love it. I have 2 more weeks off. 3 of those day I am spending with family. they rest of it I am focusing on finding deals and picking up management units. so today I offered an offer on one of the terrible houses that I spoke of. I offered 20k.
I went and looked at another house and offered her assessed value
Looked at another house today it is a rough area and is in bad shape I told them I wasn't interested in it.him a house. I met with a cash buyer this AM and found out what he wants... I WILL find him a house.
Over the weekend most of the repairs were made at our LO house. It still need a new slider and one window and some small touch ups. It should be ready to go bu Sept 5th. We will make another 10k on this one.
Our wholesale deal is pending right now. with a cash buyer... hahah we will make 8500.00 on this deal My girlfriend is buying a house through me so that is about 3500 commission :)and we will manage her current house... win-win-win
I got a call from a guy with a mobile home he wants to sell. Of coarse I thought of Keith!! He want 3500 for the place. I have to research this one.
I picked up 2 properties for our property management company. And got another call tonight for another one. and listed 3 of our properties.

We have a group of properties privately funded and I have been trying to refi them for months with out any success. My partner called him, the private lenader and he agreed to extend the contracts on all 5 for 2 years and he is willing to refi all of them as a group w=for a lesser rate thatn we are currently paying? Now that is a win/win

Last but not least we have a property that we were purchasing with a lease optioned we are the lessee. For the past 3 months there has been sewer issue with the sewage backing up into our unit. The property is a condo that was built on a hill and our condo is at the bottom. needless to say **** runs downhill!!! last Friday the tenant called and informed us that the bottom floor was flooded with sewage....and it was.... We moved her out she spent 4 day in a hotel at our expense and then we moved her into a similar type of unit today. The unit is in aweful shape. the flooring buckled and there is sewage covering the ground under the unit. there is an HOA that so far has refused to make repairs. the guy told my staff to have the tenant uncap it (the sewer cap) and let the sewage run on the ground when it starts backing up!!!! WHAT!!! We're done. Tomorrow I will be writing to the lessor terminating our contract...

DEAL DONE!!!!

Yesterday our latest wholesale deal was completed. We assigned it for 8500.00 CASH!!! I think we make wholesaling harder than it is. We got this property under contract on 8/22 and sold it on 8/28. DEAL DONE!!! Now I have other people says now why did you let me have the deal!! LOL
It was a win/win/win deal it was a estate. I negotiated an awesome deal. The home needed cosmetic repairs only! floor paint and minor repairs. It was a 3 bedroom 2.5 bathroom 2000sqft in an upper end neighborhood. ARV is a string 200k I got is under contract for 120K. I had thought we would assign it to a flipper so I set the price at 128500.00 and I created a Postlets ads and published it at 9:30 pm on 8/22 and had a phone call for the buyer at 10:30pm. They went to the house then , in the dark, and looked it over. They called me again at 0730am and we had a pending deal at 10:00am. They buyers are a young family that had cash (verified). and they wanted to pay for a home inspection. So Dan and I agreed to that.I knew this was a steal of a deal so I wasnt worried if they backed out. Dan had negotiated a 35 day inspection period and an extension if needed. We technically had control til October 11th.
Yesterday, we all met with the inspector. After he was finished with the inspection we collected our cashiers check for 8500.00!!
The seller was so excited and surprised we closed so fast. The buyer is extremely happy because they got a nice house in a nice neighborhood for a steal of a deal. The inspector made money and We walked away with money in our pockets!!!
In hind sight we could have made more money but you know what they say......."Hogs get slaughtered and Pigs get fed, I'd rather be a Pig."

Holy Smokes! it has been a month since I wrote in my journal. Wow,so what has happened.... We have picked up another 8 houses in September so far. I have 2 lease options in the works and hoping to have them with new tenant buyers by the 2nd week in October. I am working a deal for 2 houses for 60k. Today is day one Im in the processes of wholesaling one of them. I talked to my broker and he told me how I can do FSBOs with out having DAn write the deal. I have been thinking that what I have to do but I dont... I can do it ALL my self! and the is great because Dan is always too busy and I just cant wait for him. I love him but he is too slow. LOL

I have been struggling with the 25:1 because my area is so small no agent want to represent me. Because they are "uncomfortable" so I am going to start hunting in an other area. Lots of other DGers do it so help in me out folks!!! I have 4 buyers in the area already. I will have to learn the market. I can do it!! Im excited about it!
My marketing here is doing great So I will keep you posted

Hey Everyone,

Things have changed for me a little. I am running on my own. Dan is so busy on our own rehab that he is not working me . Really that is great because I want to do it all myself at my pace! But for m that means I have to do all the negotiating. Confidence!! So I have negotiated 3 deals all set to sign contract next week. however I work for the next 3 days!! Bummer. This JOB sure gets in my way. But every time I go to work I get some type of lean. I picked up 4 management contract last Friday and 100 dollars a pop how can I complain......
So I still have my big lease option house and I am searching for a new tenant buyer right now. I have two more L get under contract, hopefully this coming week. They will be a little easier. The upper end houses are hard LO I have found.
I have 2 houses that are potential deals. These are houses acquired by an estate. The owner lives out of town and doesn't want the headache. One is a deal and the other Im not interested in. So I am wholesaling the good one.

I have another house that I am negotiating with the owners, another estate, and I am planning to buy this one with private money and lease option it. This one has a potential for making 30k+

Next, I am working a smaller house but I offered to much. I was following Matts negotiating and when I said it she immediately agreed.... I need it 10-20 lower. I felt uncomfortable going lower but I should. Now I will have to use my inspection to get the purchase price down.
We picked up 4 more properties last week for the management company. I need 15 more to meet my goal.

Hi Donna,

I often read your journals and learn quite a few thing from it.

For your $8500.00 assignment deal I have a question:
The asking price was $200K and you put it under contract at $120K,
How did you determine that $120K is what you would put it under contract

I generally use the following formula:

Offer = ARV - (35% of ARV + Assignment Fee + Repairs + Closing cost)

= 200K - (70K + 8.5K assignment fee + 1K repairs + 5k)
= 200K - 84.5K
= 115.5K

Without the assignment fee My offer would have $124K.

So please explain how did you arrive at $120K as offer price.

Thanks,
Bimal

make it happen. i wish you the best.

Hi Bimal,

I'm pretty simple here, I took the ARV and subtracted the needed repairs and closing costs and my fee. at 120 there was tons of room so was an easy assignment. I would have excepted a higher price but I didn't need to

And Thanks Walt for stopping by.

I try to add details because I think it may help someone so thank you both for telling me that is does

Donna, I read your entire journal. How awesome!!!! I seem to be dragging my feet with getting off the ground and I'm reading about you just "doing it". It was absolutely inspiring and makes me want to jump in there and go, go, go!!!!

I don't know where you are in your journey now, but gosh it's an inspiring journey. Keep going, growing, and doing what you love, cause you're awesome at it!!!!!

Denise,

thank you so much.. You are so sweet. I work hard and I love doing RE. I am still not where I want to be, I need deal flow and I need to be consistent. There are still some things that are holding be back. YOu just have to do at least one thing very day to move your business forward!! If I can do and so can you.. Just do it!!

Things are just difficult right now. I feel off track and like I am spinning my wheels...... Grrrr I hate this feeling very discouraging ;/ I need to develop an business plan and set goals for my company.

I have negotiated two deals all by myself and neither one of them turns out to be a deal!! I am so frustrated that I offered too much too soon! Oh brother. One deal I am not even going to pursue any longer. The other I see what happen this coming week. Another deal Offered the right price and the seller backed off... There is more out there right!!!

So I have to make a plan and get back on track
*Bandit signs going out this week
*100 postcards going out Monday
*Ghost ads in the paper and CL by tomorrow
*Sign up my next 2 lease options this week and find TB by months end
*Finish Montvale and find a TB or rent it out! by months end.
For those of you that like to read my journal just remember we all struggle sometimes But dont you dare give up!

Hi Donna,

I read some earlier potion of your journal and found it very inspiring,
You said "Things are difficult right now", but the way you have planned out everything I am, sure you will making more deals before you know.

I am still struggling,not even one deal,I have just made one offer so far. So you are miles ahead and your approach is very methodical.

All best for many many deals .
Bimal

thanks Bimal!

I just get discouraged sometimes because I except so much of myself and other around me.

We have another LO well under way I will be posting detail when everything is signed. I am currently negotiating 2 more and have one other I am marketing. I did send all of my documents to our attorney for review. I haven't gotten them back yet.
I am working on a wholesale deal I think I have a buyer I will know more tomorrow. It is a 2/1 I have under contract for 50k. 5 more days of my inspection period.
Happy house hunting everyone

Woot WOOT WOOT another lease option completed, $3000.00 up front, 950 a month over the next 5 months over the rental amount then 250.00 for 1 month totaling $8000.00 Non refundable consideration money!

Ya baby its all good

So our income over the length of the contract we will have made 3000 for the first TB, 8000.00 from the second TB, 213.00 a month cash flow for 36 months = 7668 that all totals to 18668.00 no money out of pocket!! This was a very tight deal and it will work!!

Great to learn about you successes,and just imagine when this time things slows down, you are making deals.
Seems like you have found your niche in lease option.

Congrats!

Bimal

Hello Donnna

Aaron and I are new to Real Estate investing and Deans site, i have been reading your post, very interesting and encouraging!!! I know exactly how your felt at first that is where we are at NOW. Would like to ask you if you could explain what each symbol or medal stands for in your profile?

Thanks
Aaron-n-Suzy

those L/O can be very lucrative! and you've become such a pro with them! even if we encounter obstacles on our journey, it's how we deal with them that determines the outcome! Your determination is contagious! Keep it up Girl, you're an inspiration to many of us here!
Val

Val thanks Yes I really love them because I want to create enough passive income to replace my income as a nurse.. Woot Woot I am on my way

Aaron and Susy, Im not really sure what all the symbols are. LOL Some are for attending the edge events. It is really hard in the beginning. Just Do NOT GIVE UP!!

Bimil, Thank you Yes I really like the lease option. Thank you for stopping by

Its time to step it up.... I am disappointed in myself for losing focus..It is not that I havent been busy I have been focusing on building teams, and developing business plans and getting my PM company in the black. However this has caused my investing to suffered. Who is holding me accountable??????? ME!!!!! that's who...

ITS MY TIME!!!!

This week an local investor (one that makes us all look bad) has put up bandit sign in my hunting grounds. My first impulse was to get ****ed!!! yesterday he called me on my bandit sign, he says he has 2 properties to wholesale. I don't trust him but I'm going to check it out.

We had completed two deals this summer that he had spoken the sellers prior to us and upset them, so they did business with us. I just worry about being too associated with him.
Thoughts please???

Best of Luck to you, Donna. Your husband and yourself are now on the path to making some great changes. As you become more focused on your goals you will see even more good things materialize.

The work is fun and enjoyable. I feel empowered when I finish a deal. You will find that you are in more control of your life. That is a good feeling.

You are going to do great.

Thank you Roy! I love the feeling of completing a deal and making everyone happy. I am very close to not needing my JOB and that = success in my eyes. :

Focus like a laser beam!!!
Got up early today to write offers.I will summit them once i get to work.. I have got to get my fax/coper/scanner up and running better.....
2 deals pending today! Woot Woot! One of the closings will add 4 more units to my PM company. Inspection Thursday. This deal is a young couple Dan and I have been helping to obtain rental properties. This make 9 units for them!!! and it will cashflow! and I get paid to help them. SWEET the other is a friend i have been helping to find a home.... But I get paid to do it!
Im waiting on the paper work for my wholesale deals the owner lives out of state and Im waiting for the signed contract so I can get it going. I am taking Carols Advice on this and waiting for contract in hand before i market it. More Bandit signs going out tonight after work!! wish me luck!

Have you ever had on of those times when the light just finally switched on and you can see where you need to go??? That just happened to me;
I have been struggling for so long on how I am going to get to the level of success that I want to be at.... of coarse it is complicated... Dan and I started a company in 2005 with a Father and Son team. We pooled our resoarce and started an investment company. We were doing pretty well until the market plumited. After that the company has survived but the management was poor and Dan and I did not see or get involved in what was truly going on.... I have been frustrated with this for years and it has held me back because I have been mad at them (my partners) quit frankly and really wanting to dissolve our partnership. In May of this year I insisted the CEO step down I and took his place. Since that time things have improved. Not that Im perfect but there wasnt any oversight. We are talking overdrafts, late payments and 3 forclosure notices!!!! I have been so resentful that it clouded my vision. The truth is I should be upset with myself for not being involved.
Over the past 6 months I have been building my teams and improving processes and setting up systems. We are not in the red anymore. thank you Dean :)Because of what I have learned from Deans teaching this really has saved our company. And my financial situation also. I went part time in May because I have been generating enough income through RE to suppliment my income. This allowed me time to focus on my company and start rebuilding it. Thank you, thank you!!!!
So, as I said things have been very tense with my partners. Friday we had a meeting with all members. This hasnt happen since I took over management. The meeting started off tense and negitive. As we spoke something happened... hope returned..forgiveness and the need to succeed grew within my soul. We talked for 3 hours.We all remembered why we joined forces in the first place.
So, like I said I have been struggling with how to do what I want to do and that is start an investing system to increase offers, to increase my success, to meet my dreams. But I haven't been able to do that by myself because of working as a nurse and repairing my company has really consumed most of my time. But a revelation came to me as we spoke and I started explaining Deans teaching and how we coiuld make this a profittable company and BAM!!! I knew, the switch flipped!!I have the team already why am I not using them... My partners informed me I have control of the future of my company. I am the leader. My partners asked me to lead us to success , that they trust me and have 100% confidence in me... wow

Donna,
I'm glad you're taking charge and being a leader! You are amazing, and you will create amazing things with your company!

Regarding the local investor and his bandit signs... don't trust him! I trusted another investor and I regret having done so... never again, lesson learned. Always do your due diligence, no matter what they show you or what they tell you. And don't get associated with unethical investors, they will only hurt your business

Congrats, Sounds like you are now in the fast lane. I have no doubt that you
will take your company forward by leaps and bounds in 2014. Happy Thanksgiving!

I am very happy that you were able to get out from under this dark cloud. And what a wonderful feeling for you when they all professed their faith in your leadership!

You are such a gem. And the polishing continues.

Karen