Yung Cash's Journal

Welcome! Thanks for sharing your journal. I wish you much success in REI and am looking forward to hearing about your progress.

Lea
SPR Property Solutions, LLC

Congratulations on starting your journal. It's a great way to share your REI journey with others and keep yourself motivated at the same time. Good luck with your real estate investing.

Bruce

Thanks for the comments bwraleigh and fracarell789. I'm definitely going to try and stay on my A game and stay motivated. Lata!

Congratualtions for taking action with real estate and deciding to start your journal. The journey is always more fun when you can plan a little each day and reflect back at the end of the day on your actions that may be moving your closer to your goals. Good luck with real estate investing and all your future deals. Believe and Achieve! - Joe

Well I wrote this long entry but I clicked on the smiley link and lost it all. What a shame! Anyway, I will start over I guess!
Today was not as productive as I would have liked it to be, but I'm going to try to make tomorrow a better one.
First I met with a man in Slidell, LA who is selling a 10 unit apt. complex. He tell me its appraised for 700,000+ and he wants to sell it for 600,000. He seems pretty motivated to me, he says he is tired of being a landlord. He also offered owner financing with 60,000 down but that's still allot of moolah to me. I'm trying to come up with a way to help or a way to purchase with no money down. I guess I will spend the weekend looking for buyers, a partner, or a way to purchase with no money down.
I was supposed to put out bandit signs tonight but I'm being lazy I guess, I know I'm not going to make the mega bucks by sitting around so I better get on the move!
Also today, I locked a property on contract in Jackson, MS. I've never seen the property (only a picture). I found it on craigslist listed for 20,000 I offered 7,000 and they accepted for 7,500. I haven't done too much due diligence on the property so that has me kind of worried. I figured since I just plan to resell as fast as possible I didn't have to. So I locked it up, no earnest money and its set to close on or before Nov.20th. Hopefully I can find a cash buyer before then.
This finding the value of a property kind of ha me stumped! I haven't found a good Realtor and I've been using realquest but it won't give me the value of commercial properties, only single family residences. I will have to read and learn some more on that topic.
I was supposed to meet with a guy who is also needing to sell his home. His brother died and he is sick of paying the taxes on it. He owns it free and clear so I'm going to try and get in contact with him tomorrow and see if we can come up with a good price and if I can find him a buyer. Or maybe it can be me if he is interested in owner financing. Who knows until I ask!
Annnd, a lady called my info line(thanks dean), and said she qualified for a grant and she is looking for a home. I shot her an email tonight and hopefully I will hear from her tomorrow so we can begin to find her a home. Woo Hoo!
Tomorrow I plan to get a little more done than I did today...here is my list!

1)Put out bandit signs
2)Talk to the lady with the grant
3)Call a few ads on craigslist and other sites
4)Place more business cards and postcards
5)MAYBE attend a few open houses
6)Place ads looking for buyers for my apt complex and home
7)Pray that I win the lottery ( I played powerball tonight)
8)Read some more on my real estate craft
I guess that's the end of my day and I'm sticking to it. I didn't do as much as I would have liked but its a start! As for now, I'm going to get in my bed and read some more of my good James Patterson book. I just love a good fiction book! Goodnite everyone and have a blessed night! Until tomorrow!

Thanks for coming by and leaving a comment. That made my day, your such a big motivation and inspiration! I been following your posts and I almost felt like a stalker sometime. Ha, its nice to know you got examples to follow and I really enjoy reading your posts! Catch you lata and thanks for coming by!

Good for you for starting your journal. Putting your goals out there is a greater motivation to accomplish them than keeping them to yourself. I'm smiling reading 'day one' and you saying you didnt do as much as you wanted....you did a TON! I will be honest, though, and say it worries me a bit that you bought a house sight unseen off craigs list in the hopes of just passing it on. You really need to do your due diligence so you dont get stuck in a hole. Without seeing it you dont know if it needs total rehab, has outdated electric, bad roof....endless things. A deal is only a good deal if you can do something with it on the back end. So you are taking great action steps - just dont skip the due diligence! Look forward to following your journal!

why dude, in a whole day 3 deals in the works. you sound like a pro to me! lol
keep us posted! becuase im eager to know what happens with the apartment building! (:

wow dude, in a whole day 3 deals in the works. you sound like a pro to me! lol
keep us posted! becuase im eager to know what happens with the apartment building! (:

Today I really didn't get much done. I had a list planned but I didn't get around to it. This morning when I woke up, I did my morning routine, then I got on the computer to do a little research as always. I saw all these options and potential ways to get started in real estate. I said to myself, I want to do all of this but there is no way I can do and learn it all at one time. So what I decided is to pick 2 areas to focus on until Jan. Then I plan to add two avenues every 2 months. Currently I've just been looking for a great deal anyway that it comes; but I think I really need to make some choices so that's what I did.
I've decided to wholesale and lock fsbo's and sale at retail to retail buyers. Majority of my buyers that I have spoken with are retail.
I'm gonna take the rest of my night and tomorrow and study and read more on wholesale and also come up with a few strategies on dealing with fsbo, I'm sure I can find some info on that too on this wonderful website.
I did put out 2 bandit signs (I'm always embarrassed when someone sees me), and I put some postcards on windows at walmart, and in mailboxes of vacant homes.
I want to do something everyday that is going to enhance my real estate investing career.
So tomorrow, I will have a list made up of what I absolutely HAVE to do everyday and my long and short term goals.
I haven't spoke with the apt. owner but I plan to fax him a contract Monday and hopefully he will sign on the dotted line. As of now, I think my best shot is finding a partner who can maybe help with the down payment and let the owner finance the rest. That's something I'm going to think about tonight.
Hmmmm, is there anything I'm leaving out? I don't think so, but knowing myself, there just might be.
I will be back tomorrow to update, but Monday is going to be the jam packed day. Tomorrow will be more of a future outlook day with me setting my plan in motion.
That's all for now...I will keep everyone in my prayers and I will see you all on the top!
Woo Hoo! Lata!

Thanks for dropping by! I appreciate it when people take time out read about what I'm doing. laurajohnson I'm worried about the home I locked up too. I'm going to go see it Tuesday I hope, its about 3 hours away. I hope I can at least make a 1000 profit, the more the merrier I will be! So I hope that goes well, I will be on the hunt for a buyer! cmfreire I always feel like I could have done more, but I guess that's my competitive inner self talking. I cant wait to fax the offer on the apt. bldng. I will definitely come back and post what happened. I'm keeping my fingers crossed about everything. Chow!

thought today was going to be okay, and I would get lots done but it didn't turn out as I planned. I made a list of things to do everyday and on that list just to name a few was 1)evaluate 10 properties 2)make 5 offers and put out at least 10 fliers and business cards per day. I did find 10 properties and evaluated their potential but the other plans were thwarted by the impending tropical storm.
I didn't even know we had a storm coming, maybe because it's not a category 5 like Katrina. We know all about hurricanes so everyone is inside and hoping it won't be too bad.
The storm shouldn't last past tomorrow so I will hopefully (be it GODs will) will return to my investing plans on Wednesday. I hope everyone is safe and sound. I will pick up Wednesday night. That's all for now.

Congratulations on becoming a family member! I looked through your journal today and was amazed at how far you have come in just a short amount of time. You have your first deal locked down and for only $7500! I am sure that if it is in the right location and you price it just right you will be able to get rid of the property. You will have to tell me more about it. I will make sure that I keep you in my prayers that God will keep you all safe through this storm.

Congrats on stepping in the real estate investing arena. You know what you want and you are out to acquire it. All success to you in your endeavors. God Bless.

Sandra

I've been stalling and I think, trying to get everything worked out in my mind. I hope December will be the month to close 2 deals. I still have the apt. complex I'm working on. My deal with the house fell through. I was a little disappointed about that but I'm moving on. My goal for this month is to close on 2 deals. I'm remaining hopeful. I will try to hold myself accountable for every day by writing in this journal.