BCRELLC NEW JOURNAL

Today I went to meet my partner for breakfast before any one was up in my house. went over a few things with him and was home by 10am,took my daughter to the mall and stopped at modells to p/u some stuff for my son.
Tonight I wrote up some letters to 3 properties I narrowed down to from 7 after researching them.
They are up for auction soon . Hopefully I get a response from atleast one of them. There is one that I am hoping to hear from. It seems like a probate to me because its controlled by a lawyers office in NYC nad it was in a living trust.
Spoke to Laura briefly yesterday but had to cut it short because i was getting evil eyes from my wife because we were getting directions to my daughters soccer game and she wanted me to listen lol. SO if ya see this Laura I will give ya a call during the week. hahaha.
I have to kick myself in the rear to do more research for the 2 vacant homes i mentioned earlier and the hospital. I did pay for another zabasearch to see if anything new came up, but no good. Just too much to do and very little time to do it.But no excuses, I need to make more time!

never ever give up!!
Richie

Richie - I stay off a day and when I come back there are 36 new posts since I read your journal last!!!!!!! You are just killing it here my friend Sorry you got in trouble for being on the phone on family day.....are you crazy lol? No more of that!!! Kidding aside - I appreciate all your hard work and am so happy to see it paying off for you! And thanks for all the great info you are sharing with me - so fun to learn and grow our businesses together! Hope you have a great week! (ps-can you email those forms?) thx!!!

Action, action and more action baby....hahaha....Good luck on your deals and keep the fire burning...Hi Laura!

Sounds like you and Laura are having a great time working in the same direction. It is invaluable to find someone doing the same thing that you click with. You two are each other's mentors and you are helping each other very often. I hope to achieve that arrangement soon too. Keep us posted Richie. And......Hi Laura!

Tim

Little update, Tomorrow the city will inspect the electric FINALLY!!
After that I will have it turned on. Then the last faze is the a/c guy and the inspection from the section 8 people.
Lea and Denny said it has come a long way and looks good. I know its been a learning experience for both of us. Looking forward to getting tenants in soon. The SFR I have decided to walk away for now. The bank wanted more money to sign off on it and I countered with less than my first offer that was accepted by the owners. So my EM is being returned as soon as the agent gets the forms signed.

The SS is coming to a head, I had to take on a partner because It is getting complicated since its BOFA. Contracts are ready to be signed as per my lawyer.

Looking at another duplex in FL, Seller wants cash but I want to go conventional, We will see what happens.
Never EVER give up
Richie

Back in the USA - catching up while at the airport. Glad to hear the duplex is moving along! Keeping my fingers crossed all goes smoothly with the inspectors and Sec. 8. Lets catch up on the phone next week!

Met a couple of people at utah from New York, They were worried about investing in other states, I told them about you doing it in the South, And that I could put on the training course of teaching new words and definition like I am doing with you so they could to be successfully in the south, lol, Glade to see things are going well.

Randy

Hey Laura, glad to hear your back
give me a buzz when your not busy, I dont want to interupt you by calling you.

hahaha
I working rreal hard on my southern accent
good to hear from you Randy, I hope all is going well for you.

Richie

So whats new and exciting besides EVERYTHING Listen - you NEVER interrupt me when you call! I worry about disrupting you when you are at work - so I'm turning the tables on you to call me when it works. Dont want you in trouble with boss OR family haha! Which means no SUNDAY phone calls Looking forward to hearing about the duplex being tenant occupied!

Hey Richie, when your duplex is occupied it will be a day of celebration and I'll be dancing in the streets to celebate the happy day with you

Lea

How is the duplex going. Do you have it rented yet? We are all waiting to hear what's up. What's with the southern accent? Are you moving south or do you mean south Brooklyn?

Hey Tim
No I am not moving down south lol, at least not now. The duplex is coming along, a few more obsticals but I hope once I get past them I will be renting.
hope your feeling well.
Never ever give up!!

Richie

Today was a not so good day. more bad news on the duplex. Turns out the electric work is alot more than expected. Looks like they went in the atic and cut the wires out. Now I am waiting o nteh electrician to get back to me with a new quote. The I have to make a decision on what I am going to do.
This has been a test of my patients and will to complete this deal. The only thing is I know I wont give up!

I wish I could just make this run smoother for you. I also wish these places would stop buying copper from people who are bringing it in a shopping cart or beat up old car like we talked about. This certainly has been a learning experience and an eye opener for us too. Please know that we are here for you to help with this stuff however we can. We know that you will never ever give up!

Lea

Damn! Sorry to hear about the electric being cut in the attic. But have the lights and power been working? Or is this strictly for the A/C units? Stay strong my friend - definitely more unexpected things in this deal than you saw coming - but it WILL work out. Has to, right?! You are one of the success minded people that look for solutions and keep pressing forward. I guess biggest lesson learned is due diligence....inspections and rehab estimates on any future long distance deal!!!!

I am so sorry to hear about the electric. As Laura said,what electric wires did they cut and why did they cut them? Maybe they should bear the burden of replacing them. Who did cut the wires? I am sure you will work it out. Sometimes you remind me of a bulldog. So tenacious. Go get em Richie!!

Yea Laura, definately learned a lesson here. Its still a good deal but rehab went way beyond what I was told by the investor and there was NOO way Denny and Lea could have known what was coming down the pipe. I should have done what I knew should be done and that was have an inspection done. I am way too smart to have believed in the guy we were dealing with had it all figured out. Like we say, live and learn. As soon as its rented I hope to look back and say its all good now
Give me a shout when you close your flip, I will crack a cold one for ya

Richie

Spoke to the electrician, He is going back in Thursday and hopes to be done by the w/e. Gave me a rough estimate of around 2k per side. So now I am searching to come up with the money to pay him. Unfortunatly we are 2-3 months from refinacing, SO I have to come up with a different plan asap.
Plan c would to sell it and ask for 5k down to pay the electrician, but I really hate to do that because I wanted to hold it till the market swings in a few yrs. We will see how the ball bounces.

I havent been much in gear on REI for a while, alot of other things on my mind for about the last 2 months, so I have been half heartedly working on things.
I hope to get back on track and calling banks again and building my D&B credit.

Time to pick myself up off the canvas and do what I do best, bounce back.

Never EVER give up!!
Richie

Well today Denny called and told me the electrician was done and that he said the repairs werent as bad as he thought. Then I got a call from the county utility office asking me if I want the electric turned on today, so i said absolutly!!
Now we will set up the A/C guy for the finishing touches and hopefully be able to rent within a weeks time!! keeping my fingers crossed on that
I can actually say i am seeing light at the end of the tunnel. Also got contacted from a lender that said he may be able to do something about refi/cashout before the 6 month offer i recieved from the other two places.

never EVER give up!!

Richie

You certainly are the 'Bounce Back King' You have had many challenges with this one and overcame them every time! I'm so glad that you are so close to getting tenants in YIPPEE!! FANTASTIC news on the cashout too glad to hear it.

Lea

Hooray for the light at the end of the tunnel! I admire how you've stayed strong through all your challenges, found solutions and kept moving forward. Now before you know it you will have those rent checks coming in! Way to stay the course my friend

Well, electric is on and the A/C guy is working on the inside for now until I give him the go to put the units on the outside. Property manager will do a walk through to make sure all is good before he advertises it for renters. Denny and tom are doing some last minute repairs needed and we should be good to go in a few days mid next week.When I get my first check i am going to send Dean a box of cannoli's from a great Italian bakery I know Its the least I can do after all he has done for me
Denny and Lea, I will take care of when I get to FL, BIG dinner plans

looking forward to that first rent check!!
Never ever give up!!
Richie

finally all coming together for you !! rent checks will be coming in soon and on to the next deal.You have learned a great deal from this and no one can ever take that experience away !! denny and lea are awesome people huh? i bet they cant wait to see you too !! keep pluggin richie ,i know u will !!
jay

Im so ever inspired by your will and determination to make things happen. A true NYer you are. lol Congratulation on making things together in the face of adversity, and now its on to bigger and better ventures. Keep on keeping on Richie and I will see you at the TOP!

Regards,
Shane

Hey Shane ,whats good. I see your still pounding the pavement, good stuff.
Give me a call one day and we can set up a breakfast somewhere and shoot the REI breeze. Maybe even get Elix to come too.
Keep on punching, your going to come out on top.

Richie

Today I spoke to a broker in FL and may have something cooking on the refi front, I am waiting for a response from him on some things.
The duplex is almost there.... Denny was taking care of some things as usual for me. Boy it is great to have such awsome friends like I have in Laura,Rina,Denny and Lea,Jay to mention a few. when I get there I am gonna get Denny and Lea a big dinner then twisted til they spit up their dinner I owe them so much for all they are doing for me.
Well my son gave me a surprise today. He asked me if I can teach him how to make money in REI when he turns 18 this coming summer. I was happy to hear he wants to take an interest in it. So I need to get going in the wholesaling dept because that is where he will start.

never EVER give up!!

Richie

You are sooo funny sometimes. I love your sense of humor Denny & I have enjoyed working with you on this. Remember you've been a fantastic help to us too.

What WONDERFUL news about your son taking an interest in REI!!

Lea

Its OK if you pass on the southern language to your son. He shouldn't have to go thru what you went threw. I will make sure I save him a seat at the edge next year, Glad to see things are getting closer.

randy

Thank you Richie. It was nice to hear from you in my journal. Man things move fast in this world of REI but for good. Glad to hear how well everything is for you and thanks again for the encouragement. I did get another accepted offer that I will fix and hold so I'm excited about that.

Blessings to you,
Cathy L