Patrice's Journal

Welcome to the DG family. This is the right place to find the support you need to succeed. As far as the no's go, don't worry about them or over think them. You are only looking for the yes response. If you carry all the no's with you, they are only going to slow you down. If you do anything with a no response, learn something positive from them.
It sounds like your sister can be a wealth of information and a contact for funding as well.

Thanks Advocate! I can't remember who I was reading (possibly Dean), but they were saying it's like you become conditioned from such a young age by "no" or rejection. Whether it be a test in school, or being rejected for a job. It's funny, I don't know why I let that bother me so. I've been told no before and later, the answer was yes. I will definitely focus on getting those "Yes" answers.

I didn't even think about my sister from the financial stand point. I will keep that in mind for future reference. I want to gain as much knowledge and finally put that knowledge into practice!!

My husband's job is being relocated to Columbus, OH and we decided not to relocate. Well, there was a job that came available at our company and he applied for it. However, he received a phone call today from the hiring manager that he didn't get the job. His current job will totally go away come this January. So either he has to find a job by then or we really need to start taking action with what we've learned from Dean.

So, then we had a talk about what we need to do. He asked me if I really thought we'd be able to do this by the time his job went away. I told him, yes! I think we can really accomplish this goal. He said that he is not against this at all. He's excited to do this, he's trying to figure out if he should look for a job and keep doing this or just pray this has come into fruition before his job goes away. I told him I know how he thinks, especially as my husband. He wants to make sure he can do his part. He will feel more secure with a job as we build our REI business verses not having one at all. I can see where he's coming from. So, we are just praying as to which path we should take...should he look for another job or should we just focus on this as his job.

Then, I spoke with my sister about the possible foreclosure list that her bank has. She told me because I'm a family member, we cannot buy homes from them. I mean really!?!? I told her that has to be the stupidest thing I've ever heard! How are you going to discriminate and I'm a member of the bank! Fine, I said there are plenty of other fish in the sea. I'll just keep looking.

It seems as if there is always something, you know?! But I am bound and determined to do what we need to do to get this business up and running. Today, I talked to an agent about us finding a house and if she also worked with investors. She said she did. So, that's a possible agent for us. I went on Craig's list to see if I could find buyers, and I saw 2 promising looking ads. I will try to contact them tomorrow to see what types of houses they are looking to invest. I am determined to succeed!

Today, I put into action what Dean talked about last Thursday during the conference call: Putting your plan into action. So, my husband and I watched Jeff Jensen's Exit Strategy from the Edge kit. It was really good. He stressed there are 3 ways to invest and you need to choose one to start and go from there. We know which avenue we want to start with, and that's assignment of contract.

What I found to be interesting is that in the state of North Carolina, you have to be licensed to Bird Dog. On the Triangle Real Estate Investment Association (TREIA), it states "be careful about recommending this as NC rules don't allow referral fees to be paid to non-licensed individuals" but it didn't have any thing like that for assignment. One of the DG members from NC has a journal, and I posted what I found as I want to share as much info as I can.

I did try to contact the mortgage broker about financing for a first time home buyer loan. However she did not call me back! I called around 8, 12 and 3. The first call, no one picked up so I left a message. The second time she was on the phone, and the last time she was gone for the day!! REALLY!? So I called my Realtor and she said that she was actually in a meeting with her. She broke her hand and was really struggling getting things done. So, I'll give her the benefit of the doubt!

As far as calls are to buyers, I didn't get a chance to contact any today. So I will have to do so before Thursday, as I'm leaving to go out of town for the rest of the week. I feel like writing in this Journal really helps me to stay focused. I am going to make sure I'm faithful to this even if no one else reads it but me! However if anyone does read it, I would love input and advise.

Well DG until next time!
Patrice

So today, I finally heard back from the mortgage broker lady. She took our info, and ran our credit. Now I knew it wasn't the best, but when she told me the score, I thought I was going to pass out! I just couldn't believe it. So, I did what I do best, took action. She sent me my report and I immediately started calling the people on the report. Most were student loans and some others were little ticky tack stuff we could get off by the end of this month. So I got some of my student loans differed, and will contact the rest tomorrow.

I'm getting excited about our future! I found a house that I really like on Remax. I want to go look at it before I fall too deep in love with it. I was telling my hubby that when we get our credit scores up to where we need them to be, we'd be able to put ourselves in a much better position to invest. He said he totally agrees. He was like, the fast cash can help us but the owning of the property is what is going to help us become wealthy.

So that was today. I'm going to be going out of town for a few days and will have to update my journal when I get back.

Patrice

I tell you, every now and then, it's good to just get away! I went to a retreat and it really rejuvenated me, and I have that push to keep going!

I am reading "Profit from Real Estate Right Now!" and am learning what steps I need to take. I'm in the section talking about phone messaging as a way to market. I think that this would be really good for me as I don't want to keep repeating the same info over and over again, when I can just refer them to my auto message. My thing is, I want to be able to clear up my credit so I am able to actually invest in homes by holding or flipping them. That is my ultimate goal. So, I know by starting off with assignments will really help. I don't know if I need to do the whole recorded message for assignment though! But, I know I'm still in the learning process and I will continue to read because I know eventually, I get the answer. I think the person that I really want to mimic is Matt Larson's method.

Oh, as far as the house is concerned, we have decided to put it on hold until we can clear up some of our credit. I am really determined to get that straighten out. We are talking about kids, buying a house and financial freedom, and the best thing to do is attack what is at hand. I was telling my hubby that I am a little disappointed that we won't be able to take advantage of the $8000 incentive. But he said, we won't have to worry about an $8000 incentive because we can afford to buy the house right out because of the steps we are taking now! I tell you, that's the support I'm talking about. It really helps me to stay focused.

Until next time,
Patrice

I enjoyed reading your inspiring journey. You have a winner (DH) in your corner. I know God will Bless you and your family with what you seek. Keep your eyes on the prize. God Bless with your REI.

Hey I just wanted to say welcome. I believe a good way to get over worrying about people saying no is to set up say, 3 appointments every week to just "talk to " owners about there properties and look at them this way you: #1 get to see many many properties which helps you KNOW when you find a good deal #2 you get more comfortable talking to owners and don't feel that "what if they don't pressure" to buy or sell and you realize they are just human beings like yourself #3 you gain the confidence of knowing you ARE doing something towards your goal and dream of financial independence through real estate investing #4 YOU then know that no just means they are NOT the right ones at this time and allows you to move on to the ONES that ARE the right ones for you to work with. I too am a newbie but I have gotten valuable experiance dealing with people that happen to be owners by using this method. Steve

Welcome! Thanks for sharing your journal and the steps to success that you are taking.

About talking to cash investors for your buyers list. I've been upfront and honest with them telling them that we are new to REI. Many of them have taken the time to talk about their strategies and give advice. I really appreciate it realizing how busy they are.

I remember the 1st time I called a list of rental houses to find prospective cash buyers/sellers I was so afraid. It was a huge step. I've since overcome that fear.

Wishing you much success.

Lea
SPR Property Solutions, LLC

Thank you guys so much for the encouragement. I tell you, it's like you have to stay focused to really reach your goals. I am going to keep my eye on the prize and not waiver. I think the steps that Steve talked about are so true and it's so timely. I really just have to figure out when to call people to get info. I work from 8:15 to like 4:30. So I guess could try to call right when I get off. The only thing is building this list! Today on Dean's vlog, he talked about helping people build their list and this is SO timely! I where one journal said she googled investors. I tried that yesterday, and what I found most were commercial investors. So, I to learn other ways to find investors.

Lea (and anybody else that knows!), how were you able to call rental houses to find prospective cash buyers/sellers?

Until next time!
Patrice

Yesterday, I talked to someone I've nearly known all my life. I remember my parents saying that she and her husband invest in real estate. I asked her if she and her husband are still investing. She said it was a funny thing that I asked because her husband had went to the bank to see about starting back in investment. I told her that I was doing assignments. She was like, Oh you have your license. I told her no, I don't. What I'd be doing is locking the house up in my name and finding a buyer that would be interested in the property. She was like oh ok, (I don't think she had heard of it before). Then she started telling me what she would like to to. She'd like to rent out their current house and find a new house to move into. He'd like to stay in the current house and find another house to rent out. So, I told them that if they are interested, I can help in any area they need. So, we'll see what happens.

I have a confession to make, I have been slacking in producing my buyer's list. I just get so discouraged thinking that I won't find anyone like some of the others on the site. Phew, I feel much better getting that off my chest! LOL! So, now that I've confessed this, I can move forward and really hit it hard. I have found a couple of websites that talk about buying your house, and this could be a possibility as well.

So until next time!
Patrice

Scout through CL (craigslist), other classified ads sites and newspapers for other investors in the area. Call them or email them, politely explain your a investor/wholesaler and would they mind telling or emailing you their criteria for the kinds of properties they are looking for. Prefect example I contacted a investor this evening I know he's looking for $150k and up homes to invest in.

So its going to take a little action on your part. You can do it!

I have a question that has really been bugging me. Let's say you find a property and tie it up for $50,000. Then you turn around and assign the property for $65,000. How is the $15,000 taxed? Do you pay it at the end of the year? Do you pay it after the money has been wired to your account? If I use my business name, would I file at the end of the year? How is it done as taxes and all that stuff really do concern me. Actually, that part of success scares me. I just know that the total amount cannot be yours due to taxes, right?! I don't want to miss paying the government ANYTHING!!! Does anyone have any advise?

Today, my husband and I are going to continue to build our buyers list. We are going to talk to one of my friends that is an agent PT. I told Devin, my hubby, I'm a little nervous because I haven't really told my friends we are going to be doing REI. I don't want the negative feedback. But Devin was like from everyone we heard/read about that is doing REI, they do get that. It's our job not to feed into. He's right. So, we will talk to her and give her an opportunity to be on the ground floor with us. If she doesn't want to or is skeptical we will move on to the next with no feeling of animosity.

Also today, I am going to call banks about foreclosures they have. Since I can't use my sister's list because I'm a relative, I am going to other banks to get the same info. This is a good opportunity to build a seller's list.

This October Success Fest has got me and Devin pumped! We are going to do this and we are going to succeed. I just have questions to come up along the way and I know DG has the answer! I may have over looked the answer on another post, but I really didn't see anything.

Thanks again DG fam and until next time!
Patrice

Congratulations on starting yoru journal and taking action. Each day you can get closer to your goals and your next deal. The more knowledge you gain today with real estate the better prepared you will be for future real estate deals. Good luck with real estate investing. Believe and Achieve! - Joe

I love reading your comments ... I'm in the same boat, so you sound like a sister. Keep going strong ... I'm rooting for you.

We called rental properties that we drove by and also found more in our on-line newspaper. Please forgive me for not answering you much sooner I don't know how I missed your post.

Take care,

Lea
SPR Property Solutions, LLC

Thanks so much for you great comments. Joe, I'm so glad you got a chance to stop by my journal. I've seen you and your wife on the DVDs and of course hearing you on the conference calls. And any advise you have is very welcomed. RonnieB, yes I am a sister! LOL and I know this boat we're in is not going sink but float! Lea, I am doing that today. I saw a couple of houses in the area on the way home for rent. Actually 2. Then we are going to some of the other towns in the county to see if there are any properties for rent. I went the CL and every one on the post that talked about renting say not to contact them about commercial possibilities. So, I think that calling signs might work better.

I am really looking forward to tonights conference call. I know Dean is going to have some awesome info for all of us. I mean who else offers so much free info in order to help you get to where you want to be in life! My only concern with my future success is TAXES!!! :-/ Does any one know about how the taxes work when you get the profit from an assignment?! Please help!! )

Thanks again!
Patrice

Looking forward to hearing how this goes for you.

I don't know how the taxes work on an assignment, yet

Lea
SPR Property Solutions, LLC