BCRELLC NEW JOURNAL

Yesterday a guy at work came to me and asked me if I wanted to buy his house. Its a 2 family in the Bronx NY. He has a tennant who doesnt pay and on top of that someone called up on him for renting his basement too. He gave me a quote of 450k. I went home last night and looked up his deeds to see what he owes and then went to Deans Totalview.com to see what its worth. It shows that it is worth 317k, he owes about 315k. So now I am trying to figure out how to approach this in a smart way. From the looks of it ,he did a piggy back loan for the DP. and also refinanced to pull money out.So I may offer 320k and try to flip the contract to an investor.have to think this out a litle more on what to do.
On another note I am packing to go to the EDGE

Richie.

Thanks for being such a great support for me and Laura. You're an awesome friend and a great REI (you've NEVER given up). nice to see you've got deals rollin right up to "leavin' time".

God bless!
Rina

Just wanted to say hello and tell you how much I've enjoyed meeting you here at The Edge! Had fun at dinner last night!

I'm so excited about being up in journals more often ----it has been way too long for me since I've been active here!! After catching up with yours ---all I can say is WOW! You go!! Also so exciting that you are networking with Lea...great!!!! Don't you LOVE this site?! Amazing.

I'm looking forward to another great day in Phoenix. I am SOOO not going to want this event to end!

Cheers!
Louisa

It was nice talking this morning and I have to thank you for being so kind as to let me use your phone to talk to Louisa, Randy and Jeremy. What an awesome way to start my day - getting to talk to some of my DG family members Had I realized you were still in Phoenix I would have waited to call. Thanks again Richie!

Lea
SPR Property Solutins, LLC

So much knowledge and so little time!! Thats ok, I always find a way
Well I got back to Queens and haven't stopped taking action with the additional knowledge i was given at the edge. It was an amazin weekend, meeting Dean and Jonelle( dont know if that is spelled correctly)sorry Dean
Matt,Rina,carol and so many others was a good thing. They are all every day people that you would be happy and grateful to have in your life as a friend,not because they are succesful but because they are of great character.
That being said, I have been busy talking to Lea who is so awsome while helping me put things together on the DUPLEX. She has spent alot of time doing research for me while I do some also. I spoke to Laura last night to get a question answered on how to go about opening a foreign LLC in Florida. I did that research last night, but got yelled at by my wife because she said I have been on the computer all the time since i got home. but i got my research in before that BTW I told her I was going to bed I got back on under cover I needed to finish what I was looking for lol. unfortunately she is not a big believer that this is real,but i will prove it to her. I have alot of banks to call and property management companies, I also contacted a few HML last night as well and told them what I was looking for. I got a special pm when i got on the site, that was a nice thing to do, thank you.Dont know if that person follows my journal, but I wanted to say thanks anyway It was nice to meet Matt and talk to him, I was always impressed by his amazin accomplishments and determination. Well, so much to do and I really mean that. I have to really follow my plan for each day in order to get to where i am going.I cant post too much because i need the time to get things done, so if anyone that has my number needs me please call. I will probably pop on and read a little but wont take the time to post until i have something to share.
good luck dg family,and NEVER EVER give up!!
Richie

Well I know I said I wasnt going to post, but i need to keep up with my own info Just got off the phone with the Lawyer handling the SS. I asked her how we are doing the deed of trust sale with my end buyer. appearently an offer was put in on the property and i didnt know about it. So she is going to get back to me. I just got a e-mail from my other buyer in brooklyn. I had sent him a e-mail last night comfirming how fast he can close. I found a REO or two that fit his criteria. I really need to talk to Carol :0
Things are rolling along on 3 fronts, SS,buy and hold,and wholesale deal. keeping my fingers crossed that they work out.
wish me luck!!

Never EVER give up!
Richie.

hey pal,was great to meet you and spend some time with ya at the edge!! what a great guy you are.i wish we lived closer as i am sure we would hang out .way to start rocking and rolling as soon as u got home!!! karen and i had alot of fun with ya over the weekend.we will have to get together again sometime maybe a dg reuion somewhere???. keep up your momentum and NEVER GIVE UP !!!!!! keep in touch richie
jay

I know we spoke but I wanted to drop in here and say HI and how fun it was being together at the EDGE with everyone! I am SOOOO glad you faced your fears and got on that plane! You are burning it up now with new enthusiasm and new knowledge - way to go! Talk to you soon

Hey Laura, I am glad I went also. Today was a busy day. I called a few banks in FL to find one that will do REFI with no seasoning. I did get one that said they would do a 6 month refi but not for a LLC it would have to be a personal loan. I may contact them back If i dont find any others willing to work with me. I wrote myself a few things to ask before calling so I kind of had a script to work off of. The best part was when he said no I said would you be willing to make a program for me so we can do more business in the future also. He said he couldnt do that, but I had to ask. I am still trying to find PVT money to buy the home too. I asked a few people I work with and one guy said he has a friend that has money and he would give him my number in case he is interested. sent an e-mail to the lawyer handling the ss to se whats going on, she hasnt gotten back to me yet. Lea is doing some calling for me also to cut down some of the calls for me. On the wholesale front My buyer wants to know where the properties ARE THAT I TOLD HIM ABOUT.
I dont want to tell him yet because I have to get them under contract.So i need to get my offers put in on them. they are REO'S so I will have to disclose that i intend to sell them to a 3rd party for a profit on my offers.
I dont know if the selling agent will submit them but I have to try. In all, 3 things in the works, but I will be happy if one of the 3 get done. I still have alot of work ahead of me but i am doing some each day.
Never EVER give up.
Richie.

I've been trying to get time to come on the site and post, (especially in my journal), but I popped on for a sec and saw you here, so wanted to say hi! It was so great to finally meet you at the EDGE. You are such an awesome person. And that was such an awesome event to be at!! Meeting everyone and sharing info/contacts was amazing. Dean really outdid himself!
Well, gotta run, but wanted to say I'm proud of you, friend, and keep up the good work!! Can't wait to hear you shouting about your first deal completed! Yay!

Rina

WOW! Your determination is amazing. I just read your entire journal. You definitely know how to take Action. I think it's great how you worked with Lea and Denny. I'm sorry I didn't make more of an effort to find and meet you at the EDGE; not being rude; lots of people there. Loved the event as everyone else did.

Richie I know what you mean by not posting much and needing to focus on getting things done. But I had to thank you for the post in my journal. It was very kind of you. I was moved by your idea to write Dean not 1 but 2 letters. I thanked him in person but to write a note was a great gesture and meaningful.

Anyway I have no idea exactly where you live but Shane knows I'm visiting NYC next week with my daughter and I don't know if there will be a chance to meet but I sure wish it could happen somehow. June 2-6th; we had to back on Sun.

I enjoyed the time reading your journal and all the action ideas and how to get rid of a 'dark' agent (worse I know).

Blessings,
Cathy L

Hey Cathy,thanks for the nice comments. where in NY are you staying?
If I can free up some time I Would DEFINATELY come to say hello. With my 9-5 getting longer and more complicated each week, I dont have much time on my hands. but you never know! I may be in the City for REI meeting one night next week, if so I can swing by where ever you are.
Not much going on this w/e for me as far as REI. I just got home from PA a little while ago. Tomorrow my wife told me I have to go to the beach, So I have to be a good boy and listen after all she did give me her blessing to go to the EDGE even though she doesn't believe that i am going to make it in REI. I may have to use Carols idea and give her monopoly money when I do make it.
Monday is a big day, I have a few calls to make and I have to get some offers in. A property I wanted is off the market today which means I missed it:(
on to the next one!
oh I forgot, Elix and I moved our plans to meet to Monday.
RICHIE

WOW, it would be great it you & Cathy get to meet while she's in NY!

Hope you & your family had a fun time in PA! You'll pursuade your wife to 'come over to the REI side' I just know it Sometimes these things can take time.

Good news about you meeting up with Elix too! Go Richie!

Denny & I are having so much fun working with you.

Talk to you soon.

Lea
SPR Property Solutions, LLC

Hey Lea, the wheels are turning, I am just not sure which way I will proceed. I will make a decision by Monday.Tuesday I will put something in motion.
Just got a pm from Elix, he had to cancel for tomorrow. We will catch up another time.
PA was nice, the ride home stunk. It rained most of the way which slows down traffic,so i was a little tired when i pulled in. went to the beach today and now am burnt like a lobster ouch!!
Well 2 houses I wanted to put offers in on are off the market. very dissapointed in that. I will still look into the other 2 I wanted to check out. Still waiting for the Lawyer to get back to me which is making me rethink using them again. She is cutting Edge on REI knowledge but I dont like that they dont get back to me. Maybe its me,but I always return calls and e-mails.
Well I am going to try to sleep. hopefully I wont hurt as bad in the morning.
Never EVER give up!!

Richie.

about the sunburn. I heard somewhere that if you boil tea bags and put the tea water in the fridge and then dip a wash cloth into the cold water and put it on the sunburn it helps it to feel better. Have never tried it though. Aloe helps too. We have a couple aloe plants in the back yard, I'd send a cutting up to you but they'd probably be in pretty bad shape on arrival. I think your supposed to use them right away.

I know those wheels are turning and I'm looking forward to hearing about your decision.

Richie, there WILL be more houses and more deals, but I don't really have to tell you that. You never know they could still be a possibility down the line. As Louisa says, NEXT! As Indiana Joe says, keep them on your radar. I wish you the best with the other 2.

Sorry to hear about the RE attorney. I hope you hear from her soon.

Lea
SPR Property Solutions, LLC

Ok, updates
Lea and Denny have been great in helping me with calls and getting info.
I e-mailed a few property management companys to find out answers to some questions. If I dont hear back I will have to make time to call and speak to them personally. Once I get my answer on that I know how I will proceed or If I should proceed.
Yesterday I called a agent about a property in WI that I found. She didnt answer so I left a message for her to call me back. Still haven't heard from her as of today. I will recall later.

Still havent heard from the lawyers on the SS and my patients are getting smaller. I dont like to be hung out because no one wants to pick up the phone and return calls.very unprofessional.
Wholesale deals went south, but I will look for more and then contact Carol.

I wish I had more time on my hands to do things but unfortunately I don't.
Never EVER give up.
Richie.

Email me the address of that property you sent the other day. I'm gonna drive by it (or did Laura already?). Good luck on that, btw!

Rina

Hey Rina. I have the address at work. I will send it from work tomorrow.I figured I would wholesale it if i get it at a great deal. I am assuming its a good neighborhood going by the price. actually i didnt think til just now. I can look it up again and send you the info.
Well I went and picked up some contract package from staples tonight. man they have everything!! I will look them over and see what i need to add to them. It is part of my plan to do something each day for each deal i have going.
I asked about exel and they said it costs around 200.00 and change :0
I think I will ask the tech guy at work if he can hook me up
every day i am moving forward on all fronts, today i contacted a property management co and the hud place for the duplex in FL in order to get some info.need to make more calls tomorrow on that. Lea and Denny are so great to work with, I got lucky when i partnered with them on the SS. They have been so helpful. especially since i have very limited time to do things at this time.

never EVER give up!
Richie.

You were always determined and motivated - bot all I can say is WOW since the EDGE you are really diving in and making more things happen! Having multiple things in the works is definitely key since its all a numbers game with the odds of getting things accepted. I'm really impressed with what you are doing in spite of your regular 9-5!!! By the way - here's a tip....suncreen LOL....

Just keep moving foward like you are and great things will happen.

Randy

Wow, I was on my way home today when my phone rang. It was a co-worker that i am friends with. He asked me to get him a home for his parents asap. He has 100k to put down and wants a good deal, like a forclosure. Well I just got done searching for the past 3hrs and I think I found a great deal. looks to me like its owned by an investor that wants to get out. its listed on the mls and he wants cash,the renter has a lease til august. its in an area that my buyer wants, I will present it to him in the morning along with others I found. other than that i didnt get anything done today because i left my work keys home and couldnt access my file cabinent at work where i had all my rei papers. Tomorrow will be another day. This may be a deal in the making I wont make too much off him as I would to a regular buyer,but thats ok since we are friends. I know business is business but I just cant do that to a friend. I will make enough after paying all other partys off. I will let you know what happens soon. Man, my head is spinning with things going on all fronts. Tomorrow I have to make calls for the FL property and call the lawyer on both of the SS again.
Never EVER GIVE UP!
Richie

Great news about your friend that you are helping I wish you the best with this. You are on the MOVE my friend.

I got your message but didn't want to call you back too late. Will talk Monday.

Lea
SPR Property Solutions, LLC

WAY TO TAKE ACTION RICHIE !! man u r REALLY burning the candle at both ends !!
like randy said the more u do the more results u will see !! it is about time you start reaping the rewards of your labor!! i can smell a deal closing for you .cant wait to celebrate too on the BIG ONE !!!!
jay

Now you have one in your lap, don't let it get away. If their is anything I can do to help let me know.

Randy

Thanks all, I showed my friend some properties yesterday before leaving work. I really had no time to do anything yesterday as i was called in at 2;30am and didnt get a minute til 6pm. I am waiting for my friend to get back to me. Now he said he has to show them to his father who it turns out was an agent in that area. he is sick now and doesnt work. I am hoping he doesnt go and get one of those homes without going through me, I did all the work on finding them. I will have to see, maybe i really am too giving like I have ben told. Well either way It will be a deal or I would have learned a lesson on what not to do.I will take something positive out of it either way.

Monday I will have time (hopefully) to make some calls. The weekends i really have been trying to devote to my wife and kids lately.
I know something is going to happen soon:) I have too much going for atleast one thing to go through.
Never EVER give up!

You can have anything you want in life, as long as your willing to work for it.

Richie.

With all you have going on, something is going to pop for sure! I cant imagine your friend and his father going around you in the deal. You are an up front and honest person and I can only hope you are treated the same by your friend. So whats happening with the Fla deal? If Rina didnt get a chance to drive by the Duluth prop, please pm me the address. I am heading that way the next few days and will definitely check it out. I was driving the day you gave it to me and I scribbled it on a receipt that then got lost! Talk to you soon! Enjoy your weekend

Hey Laura! thanks for stopping by, The Florida deal Is stalled momentarily only because I didnt get to make any calls Friday because of my 9-5. I didnt get to even check my phone messages til a little after 6pm, I think Lea was the only one I called back. The bottom line is I need to find out how it will cash flow. If I read the site correctly for the sec 8, It will be a good move. If not I really have to look deeper into it. I think I will have to go conventional on the loan which means I will have to come up with the Down payment, or I may put the whole thing on paper and go to the guys that I had asked to back me with financing in the first place. maybe at that price they wont be so scared. If I go the latter way I will have an appraisal done to see what its ARV is so I know I can refi and cash them out. covering all bases so I know i did it the right way.I have 2 exit plans just in case.
I will find that address and send it to you. I am not sure If Rina went by it or not, I havent heard from her.

Lea; I am sorry I didnt get your call until the evening, but I had a heck of a day, like i said,they called me at 2;30am to come in for 4am and i didnt get a break til 6pm. I didnt even eat until i got home. I was in bed by 9pm which is early for me. I will speak to you on Monday for sure.

Jay: I did get your e-mail but havent uploaded the pics yet, cant wait to see them!Tell Karen I said thanks. Time has been a problem for me lately. I am glad you are moving along up there in the wilderness I will talk to ya soon.

Randy, I may hold you to that offer soon enough You and Julie are another set of people I am glad to call friends. It was my pleasure meeting you both.
keep up the hard work, this way you can get the dinner tab next yr j/k I hate mush

I went by the property today. It's in a pretty rough part of town, but right next to some good commercial area. Pretty interesting-looking (nice)from the outside, sort of buffered by a couple nicer-kept houses/buildings. Want us to take a look with our realtor and get some pics for you? I think you should offer and see what happens (providing the inside is good and there's cash flow). What could it hurt if you get it at half off? Did you already do the research on taxes, assessed value etc?

Anyway, good job on doing business long-distance! Sorta cool to even be able to do that, isn't it? Now you got stuff going in, what, 3 states? Awesome! Will feel good when closing day comes, huh?

Definitely plan a week for next year's EDGE!

Rina

Hey Rina, great to hear from you! Would you really be able to do that for me? I would love to try it. The agent I tried to contact still hasn't returned my call.
I guess if it look like it would cash flow I would give it a shot. If you can look at it I will pay your realtor a few bucks to get you in to take pics for me. If it looks good i will make the offer and either wholesale it or try to get a hml and buy it and refi as soon as possible to cash out. Hey that would be another state like you said. Florida,and now Minnesota. that would give me a reason to come there
Thanks my friend.
Richie
:)tell John to make a trip to NY and I will set up a fishing trip with a friend for us.
Glad to see you are so busy.
Richie.

I wasn't going to post because I am always worried something might fall through again, but I am really excited, so here it is!
Ok,After doing all the research and making calls to get the correct info . I filled out my P/A for the duplex that Lea & Denny have been helping me on in FL,Could not have done it without them, they have been a vital part of my team through the whole process. looks like we will be doing a deal together anyway.how cool is that! Long distance is a little scary because I am going by pictures and and opinions as well. But its good to have people on your team that really look out for you. Had to over come that fear of worrying about the deal going wrong.
.The owner and I agreed on a price and he is going to have the repairs done so that its rental ready. The other two DGers that are making this possible are unbelievable friends as well as PML. I cant post their names without asking first, but I don't want to leave them out. So with that said, I am just waiting on bank approval for financing the rest.Spoke to a property management co who is ready to handle the tennants and everything else once I own it.
On another,possible deal, My 2 DG friends went and looked at a property I found in their State and sent me pics and feed back. I have to get back to them about that one.
My SS deals are slow and I am waiting to hear from my attorney to see whats going on.
Well,a lot has happened since coming back from the EDGE with a lot more knowledge and also more confidence. Speaking to Rina and Matt, Laura, Randy and so many others didnt hurt either
Looking forward to closing this out. I will post details when its done.
Never EVER give up.

Richie.